KONEX: what changed
Two fiscal 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.
KONEX
Largest movements
- Cash -€126,142
down €126,142 (-59.3%), from €212,676 to €86,534
mainly Net result for the year (-€70,589) and Contributions, distributions and other (-€40,000)
- Receivables within one year +€27,816
up €27,816 (+461.9%), from €6,022 to €33,838
of which Trade receivables: +€25,174
- Tangible fixed assets -€6,278
down €6,278 (-35.8%), from €17,548 to €11,270
of which Plant, machinery and equipment: -€4,135
- Profit (loss) carried forward -€70,589
down €70,589 (-94.7%), from €74,521 to €3,931
- Reserves -€40,000
down €40,000 (-35.0%), from €114,360 to €74,360
of which Distributable reserves: -€40,000
- Other debts +€9,799
up €9,799 (+35.1%), from €27,901 to €37,700
- Trade debts -€3,128
down €3,128 (-91.6%), from €3,417 to €289
- Gross operating margin -€114,909
down €114,909, from €53,971 to -€60,938
- Taxes -€10,231
down €10,231 (-98.1%), from €10,428 to €197
- Other operating charges +€2,526
new in 2025: €2,526
- Depreciation -€1,252
down €1,252 (-16.6%), from €7,530 to €6,278
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.
Cash bridge derived
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 | €236,246 | €132,952 | -€103,294 | -43.7% |
| Fixed assets | 21/28 | €17,548 | €11,270 | -€6,278 | -35.8% |
| Tangible fixed assets | 22/27 | €17,548 | €11,270 | -€6,278 | -35.8% |
| Plant, machinery and equipment | 23 | €14,366 | €10,231 | -€4,135 | -28.8% |
| Furniture and vehicles | 24 | €3,182 | €1,040 | -€2,143 | -67.3% |
| Current assets | 29/58 | €218,698 | €121,681 | -€97,016 | -44.4% |
| Amounts receivable within one year | 40/41 | €6,022 | €33,838 | +€27,816 | +461.9% |
| Trade receivables | 40 | - | €25,174 | +€25,174 | |
| Other amounts receivable | 41 | €6,022 | €8,664 | +€2,642 | +43.9% |
| Cash at bank and in hand | 54/58 | €212,676 | €86,534 | -€126,142 | -59.3% |
| Deferred charges and accrued income | 490/1 | - | €1,310 | +€1,310 | |
| Total equity and liabilities | 10/49 | €236,246 | €132,952 | -€103,294 | -43.7% |
| Equity | 10/15 | €195,081 | €84,491 | -€110,589 | -56.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,360 | €74,360 | -€40,000 | -35.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €112,500 | €72,500 | -€40,000 | -35.6% |
| Profit (loss) carried forward | 14 | €74,521 | €3,931 | -€70,589 | -94.7% |
| Amounts payable | 17/49 | €41,165 | €48,460 | +€7,295 | +17.7% |
| Amounts payable within one year | 42/48 | €41,165 | €48,460 | +€7,295 | +17.7% |
| Trade debts | 44 | €3,417 | €289 | -€3,128 | -91.6% |
| Suppliers | 440/4 | €3,417 | €289 | -€3,128 | -91.6% |
| Taxes, remuneration and social security | 45 | €9,847 | €10,472 | +€625 | +6.3% |
| Taxes | 450/3 | €9,847 | €10,472 | +€625 | +6.3% |
| Other amounts payable | 47/48 | €27,901 | €37,700 | +€9,799 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,530 | €6,278 | -€1,252 | -16.6% |
| Other operating charges | 640/8 | - | €2,526 | +€2,526 | |
| Gross operating margin | 9900 | €53,971 | -€60,938 | -€114,909 | |
| Operating profit (loss) | 9901 | €46,441 | -€69,742 | -€116,183 | |
| Financial income | 75/76B | €855 | €984 | +€128 | +15.0% |
| Recurring financial income | 75 | €855 | €984 | +€128 | +15.0% |
| Financial charges | 65/66B | €1,234 | €1,634 | +€400 | +32.4% |
| Recurring financial charges | 65 | €1,234 | €1,634 | +€400 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €46,062 | -€70,392 | -€116,454 | |
| Income taxes | 67/77 | €10,428 | €197 | -€10,231 | -98.1% |
| Profit (loss) for the period | 9904 | €35,634 | -€70,589 | -€106,223 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,634 | -€70,589 | -€106,223 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.