koenSept 67: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
koenSept 67
Largest movements
- Receivables within one year -€38,988
down €38,988 (-43.8%), from €89,000 to €50,012
- Cash -€11,664
down €11,664 (-23.9%), from €48,802 to €37,138
mainly Contributions, distributions and other (-€86,835) and Current portion of long-term debt (-€42,805)
- Current portion of long-term debt -€42,805
down €42,805 (-83.2%), from €51,426 to €8,621
- Other debts +€27,945
up €27,945 (+51.2%), from €54,549 to €82,493
- Reserves -€25,063
down €25,063 (-3.8%), from €653,183 to €628,120
- Debts after one year -€8,621
no longer reported in 2025 (was €8,621)
- Financial income -€48,540
down €48,540 (-49.0%), from €99,075 to €50,535
- Taxes -€3,509
down €3,509 (-23.9%), from €14,666 to €11,157
- Gross operating margin +€1,681
up €1,681 (+7.3%), from €23,048 to €24,729
- Financial charges -€890
down €890 (-38.6%), from €2,307 to €1,417
- Depreciation -€399
down €399 (-42.1%), from €948 to €549
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €796,714 | €745,585 | -€51,129 | -6.4% |
| Fixed assets | 21/28 | €657,583 | €657,034 | -€549 | -0.1% |
| Tangible fixed assets | 22/27 | €1,708 | €1,159 | -€549 | -32.1% |
| Plant, machinery and equipment | 23 | €252 | - | -€252 | |
| Other tangible fixed assets | 26 | €1,456 | €1,159 | -€297 | -20.4% |
| Financial fixed assets | 28 | €655,875 | €655,875 | = | 0.0% |
| Current assets | 29/58 | €139,131 | €88,551 | -€50,580 | -36.4% |
| Amounts receivable within one year | 40/41 | €89,000 | €50,012 | -€38,988 | -43.8% |
| Other amounts receivable | 41 | €89,000 | €50,012 | -€38,988 | -43.8% |
| Cash at bank and in hand | 54/58 | €48,802 | €37,138 | -€11,664 | -23.9% |
| Deferred charges and accrued income | 490/1 | €1,329 | €1,401 | +€73 | +5.5% |
| Total equity and liabilities | 10/49 | €796,714 | €745,585 | -€51,129 | -6.4% |
| Equity | 10/15 | €671,783 | €646,720 | -€25,063 | -3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €653,183 | €628,120 | -€25,063 | -3.8% |
| Distributable reserves | 133 | €653,183 | €628,120 | -€25,063 | -3.8% |
| Amounts payable | 17/49 | €124,930 | €98,864 | -€26,066 | -20.9% |
| Amounts payable after more than one year | 17 | €8,621 | - | -€8,621 | |
| Financial debts | 170/4 | €8,621 | - | -€8,621 | |
| Amounts payable within one year | 42/48 | €116,310 | €98,864 | -€17,445 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €51,426 | €8,621 | -€42,805 | -83.2% |
| Trade debts | 44 | €851 | €697 | -€153 | -18.0% |
| Suppliers | 440/4 | €851 | €697 | -€153 | -18.0% |
| Taxes, remuneration and social security | 45 | €9,484 | €7,053 | -€2,431 | -25.6% |
| Taxes | 450/3 | €9,484 | €7,053 | -€2,431 | -25.6% |
| Other amounts payable | 47/48 | €54,549 | €82,493 | +€27,945 | +51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €948 | €549 | -€399 | -42.1% |
| Other operating charges | 640/8 | €603 | €369 | -€234 | -38.9% |
| Gross operating margin | 9900 | €23,048 | €24,729 | +€1,681 | +7.3% |
| Operating profit (loss) | 9901 | €21,497 | €23,811 | +€2,314 | +10.8% |
| Financial income | 75/76B | €99,075 | €50,535 | -€48,540 | -49.0% |
| Recurring financial income | 75 | €99,075 | €50,535 | -€48,540 | -49.0% |
| Financial charges | 65/66B | €2,307 | €1,417 | -€890 | -38.6% |
| Recurring financial charges | 65 | €2,307 | €1,417 | -€890 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €118,265 | €72,929 | -€45,337 | -38.3% |
| Income taxes | 67/77 | €14,666 | €11,157 | -€3,509 | -23.9% |
| Profit (loss) for the period | 9904 | €103,600 | €61,772 | -€41,828 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €103,600 | €61,772 | -€41,828 | -40.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.