KOETSEN WENTEIN: 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.
KOETSEN WENTEIN
Largest movements
- Receivables within one year +€15,276
up €15,276 (+55.6%), from €27,500 to €42,776
of which Trade receivables: +€15,070
- Cash -€14,080
down €14,080 (-21.7%), from €64,878 to €50,799
mainly Net result for the year (-€20,859) and Investment in fixed assets (net) (-€19,000)
- Deferred charges and accrued income +€4,848
up €4,848 (+298%), from €1,629 to €6,477
- Trade debts +€27,890
up €27,890 (+387%), from €7,214 to €35,104
- Profit (loss) carried forward -€20,859
down €20,859 (-68.1%), from €30,638 to €9,779
- Gross operating margin -€27,308
down €27,308 (-18.8%), from €145,447 to €118,139
- Staff costs -€8,308
down €8,308 (-6.6%), from €125,953 to €117,645
- Depreciation +€3,687
up €3,687 (+21.9%), from €16,806 to €20,493
- Financial charges -€1,656
down €1,656 (-93.7%), from €1,767 to €111
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 | €152,270 | €156,821 | +€4,551 | +3.0% |
| Fixed assets | 21/28 | €58,263 | €56,770 | -€1,493 | -2.6% |
| Intangible fixed assets | 21 | €816 | €544 | -€272 | -33.3% |
| Tangible fixed assets | 22/27 | €57,447 | €56,226 | -€1,221 | -2.1% |
| Plant, machinery and equipment | 23 | €916 | €70 | -€845 | -92.3% |
| Furniture and vehicles | 24 | €56,531 | €56,155 | -€376 | -0.7% |
| Current assets | 29/58 | €94,007 | €100,052 | +€6,044 | +6.4% |
| Amounts receivable within one year | 40/41 | €27,500 | €42,776 | +€15,276 | +55.6% |
| Trade receivables | 40 | €27,500 | €42,570 | +€15,070 | +54.8% |
| Other amounts receivable | 41 | - | €206 | +€206 | |
| Cash at bank and in hand | 54/58 | €64,878 | €50,799 | -€14,080 | -21.7% |
| Deferred charges and accrued income | 490/1 | €1,629 | €6,477 | +€4,848 | +298% |
| Total equity and liabilities | 10/49 | €152,270 | €156,821 | +€4,551 | +3.0% |
| Equity | 10/15 | €105,038 | €84,179 | -€20,859 | -19.9% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €25,800 | €25,800 | = | 0.0% |
| Distributable reserves | 133 | €25,800 | €25,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,638 | €9,779 | -€20,859 | -68.1% |
| Amounts payable | 17/49 | €47,232 | €72,642 | +€25,411 | +53.8% |
| Amounts payable within one year | 42/48 | €45,596 | €71,497 | +€25,901 | +56.8% |
| Trade debts | 44 | €7,214 | €35,104 | +€27,890 | +387% |
| Suppliers | 440/4 | €7,214 | €35,104 | +€27,890 | +387% |
| Taxes, remuneration and social security | 45 | €17,583 | €16,392 | -€1,191 | -6.8% |
| Taxes | 450/3 | €2,020 | €1,885 | -€135 | -6.7% |
| Remuneration and social security | 454/9 | €15,563 | €14,507 | -€1,056 | -6.8% |
| Other amounts payable | 47/48 | €20,799 | €20,001 | -€798 | -3.8% |
| Accrued charges and deferred income | 492/3 | €1,636 | €1,145 | -€491 | -30.0% |
| Remuneration, social security and pensions | 62 | €125,953 | €117,645 | -€8,308 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,806 | €20,493 | +€3,687 | +21.9% |
| Other operating charges | 640/8 | €934 | €955 | +€20 | +2.2% |
| Gross operating margin | 9900 | €145,447 | €118,139 | -€27,308 | -18.8% |
| Operating profit (loss) | 9901 | €1,754 | -€20,954 | -€22,708 | |
| Financial income | 75/76B | €0 | €206 | +€206 | +43,757% |
| Recurring financial income | 75 | €0 | €206 | +€206 | +43,757% |
| Financial charges | 65/66B | €1,767 | €111 | -€1,656 | -93.7% |
| Recurring financial charges | 65 | €1,767 | €111 | -€1,656 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | -€13 | -€20,859 | -€20,847 | -165,844% |
| Profit (loss) for the period | 9904 | -€13 | -€20,859 | -€20,847 | -165,844% |
| Profit (loss) for the period to be appropriated | 9905 | -€13 | -€20,859 | -€20,847 | -165,844% |
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 31 October 2026 via checked.be.