KOKEN DE GRAEF: 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.
KOKEN DE GRAEF
Largest movements
- Tangible fixed assets +€12,310
up €12,310 (+3.2%), from €389,316 to €401,626
of which Furniture and vehicles: +€24,298
- Cash -€10,345
down €10,345 (-36.4%), from €28,454 to €18,108
mainly Contributions, distributions and other (-€220,904) and Investment in fixed assets (net) (-€61,026)
- Reserves -€172,777
down €172,777 (-78.0%), from €221,529 to €48,752
- Other debts +€164,945
up €164,945 (+546%), from €30,184 to €195,129
- Trade debts +€6,948
up €6,948 (+33.2%), from €20,928 to €27,876
- Current portion of long-term debt +€5,878
up €5,878 (+17.2%), from €34,239 to €40,116
- Gross operating margin -€14,755
down €14,755 (-6.6%), from €224,185 to €209,430
- Depreciation +€4,399
up €4,399 (+9.9%), from €44,405 to €48,803
- Taxes -€3,423
down €3,423 (-19.5%), from €17,555 to €14,132
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 | €476,186 | €480,617 | +€4,432 | +0.9% |
| Fixed assets | 21/28 | €390,851 | €403,074 | +€12,222 | +3.1% |
| Tangible fixed assets | 22/27 | €389,316 | €401,626 | +€12,310 | +3.2% |
| Land and buildings | 22 | €225,757 | €220,612 | -€5,144 | -2.3% |
| Plant, machinery and equipment | 23 | €121,804 | €114,960 | -€6,844 | -5.6% |
| Furniture and vehicles | 24 | €41,755 | €66,054 | +€24,298 | +58.2% |
| Financial fixed assets | 28 | €1,535 | €1,448 | -€88 | -5.7% |
| Current assets | 29/58 | €85,334 | €77,544 | -€7,790 | -9.1% |
| Amounts receivable within one year | 40/41 | €55,866 | €55,795 | -€71 | -0.1% |
| Trade receivables | 40 | €53,965 | €41,175 | -€12,790 | -23.7% |
| Other amounts receivable | 41 | €1,900 | €14,620 | +€12,719 | +669% |
| Cash at bank and in hand | 54/58 | €28,454 | €18,108 | -€10,345 | -36.4% |
| Deferred charges and accrued income | 490/1 | €1,015 | €3,641 | +€2,626 | +259% |
| Total equity and liabilities | 10/49 | €476,186 | €480,617 | +€4,432 | +0.9% |
| Equity | 10/15 | €233,929 | €61,152 | -€172,777 | -73.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €221,529 | €48,752 | -€172,777 | -78.0% |
| Distributable reserves | 133 | €221,529 | €48,752 | -€172,777 | -78.0% |
| Amounts payable | 17/49 | €242,256 | €419,465 | +€177,209 | +73.1% |
| Amounts payable after more than one year | 17 | €134,748 | €135,526 | +€778 | +0.6% |
| Financial debts | 170/4 | €134,748 | €135,526 | +€778 | +0.6% |
| Amounts payable within one year | 42/48 | €107,508 | €283,939 | +€176,431 | +164% |
| Current portion of amounts payable after more than one year | 42 | €34,239 | €40,116 | +€5,878 | +17.2% |
| Trade debts | 44 | €20,928 | €27,876 | +€6,948 | +33.2% |
| Suppliers | 440/4 | €20,928 | €27,876 | +€6,948 | +33.2% |
| Taxes, remuneration and social security | 45 | €22,157 | €20,818 | -€1,340 | -6.0% |
| Taxes | 450/3 | €14,133 | €8,467 | -€5,666 | -40.1% |
| Remuneration and social security | 454/9 | €8,024 | €12,351 | +€4,327 | +53.9% |
| Other amounts payable | 47/48 | €30,184 | €195,129 | +€164,945 | +546% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €90,973 | €90,407 | -€566 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,405 | €48,803 | +€4,399 | +9.9% |
| Other operating charges | 640/8 | €1,525 | €400 | -€1,125 | -73.8% |
| Gross operating margin | 9900 | €224,185 | €209,430 | -€14,755 | -6.6% |
| Operating profit (loss) | 9901 | €87,282 | €69,820 | -€17,462 | -20.0% |
| Financial income | 75/76B | €85 | €19 | -€66 | -77.5% |
| Recurring financial income | 75 | €85 | €19 | -€66 | -77.5% |
| Financial charges | 65/66B | €8,509 | €7,580 | -€929 | -10.9% |
| Recurring financial charges | 65 | €8,509 | €7,580 | -€929 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €78,858 | €62,259 | -€16,599 | -21.0% |
| Income taxes | 67/77 | €17,555 | €14,132 | -€3,423 | -19.5% |
| Profit (loss) for the period | 9904 | €61,302 | €48,127 | -€13,175 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,302 | €48,127 | -€13,175 | -21.5% |
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 21 October 2026 via checked.be.