KONSTANTIJN ROELANDT: what changed
KONSTANTIJN ROELANDT
Largest movements
- Receivables within one year -€194,102
down €194,102 (-42.6%), from €456,007 to €261,904
of which Other amounts receivable: -€169,927
- Cash +€135,592
up €135,592 (+25.9%), from €522,964 to €658,557
mainly Receivables within one year (+€194,102) and Other debts (+€189,623)
- Tangible fixed assets -€38,075
down €38,075 (-7.5%), from €505,895 to €467,820
of which Land and buildings: -€20,543
- Reserves -€267,408
down €267,408 (-33.6%), from €795,764 to €528,356
of which Distributable reserves: -€267,408
- Other debts +€189,623
new in 2025: €189,623
- Debts after one year -€18,366
down €18,366 (-4.5%), from €407,204 to €388,838
- Gross operating margin -€131,858
down €131,858 (-40.4%), from €326,762 to €194,904
- Taxes -€32,642
down €32,642 (-41.7%), from €78,346 to €45,704
- Financial income +€25,718
up €25,718 (+3,807%), from €675 to €26,393
- Financial charges +€9,029
up €9,029 (+68.2%), from €13,230 to €22,259
- Other operating charges -€5,920
down €5,920 (-72.8%), from €8,126 to €2,206
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,491,117 | €1,400,158 | -€90,959 | -6.1% |
| Fixed assets | 21/28 | €505,895 | €467,820 | -€38,075 | -7.5% |
| Tangible fixed assets | 22/27 | €505,895 | €467,820 | -€38,075 | -7.5% |
| Land and buildings | 22 | €385,133 | €364,590 | -€20,543 | -5.3% |
| Plant, machinery and equipment | 23 | €9,119 | €9,475 | +€357 | +3.9% |
| Furniture and vehicles | 24 | €78,791 | €65,132 | -€13,659 | -17.3% |
| Other tangible fixed assets | 26 | €32,852 | €28,622 | -€4,230 | -12.9% |
| Current assets | 29/58 | €985,222 | €932,338 | -€52,884 | -5.4% |
| Amounts receivable within one year | 40/41 | €456,007 | €261,904 | -€194,102 | -42.6% |
| Trade receivables | 40 | €264,420 | €240,244 | -€24,175 | -9.1% |
| Other amounts receivable | 41 | €191,587 | €21,660 | -€169,927 | -88.7% |
| Cash at bank and in hand | 54/58 | €522,964 | €658,557 | +€135,592 | +25.9% |
| Deferred charges and accrued income | 490/1 | €6,251 | €11,877 | +€5,626 | +90.0% |
| Total equity and liabilities | 10/49 | €1,491,117 | €1,400,158 | -€90,959 | -6.1% |
| Equity | 10/15 | €975,172 | €707,764 | -€267,408 | -27.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €795,764 | €528,356 | -€267,408 | -33.6% |
| 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 | €793,904 | €526,496 | -€267,408 | -33.7% |
| Profit (loss) carried forward | 14 | €167,008 | €167,008 | = | 0.0% |
| Amounts payable | 17/49 | €515,945 | €692,393 | +€176,448 | +34.2% |
| Amounts payable after more than one year | 17 | €407,204 | €388,838 | -€18,366 | -4.5% |
| Financial debts | 170/4 | €407,204 | €388,838 | -€18,366 | -4.5% |
| Amounts payable within one year | 42/48 | €108,741 | €297,892 | +€189,151 | +174% |
| Current portion of amounts payable after more than one year | 42 | €17,831 | €18,366 | +€535 | +3.0% |
| Trade debts | 44 | €44,088 | €40,976 | -€3,112 | -7.1% |
| Suppliers | 440/4 | €44,088 | €40,976 | -€3,112 | -7.1% |
| Taxes, remuneration and social security | 45 | €46,821 | €48,926 | +€2,105 | +4.5% |
| Taxes | 450/3 | €46,821 | €48,926 | +€2,105 | +4.5% |
| Other amounts payable | 47/48 | - | €189,623 | +€189,623 | |
| Accrued charges and deferred income | 492/3 | - | €5,664 | +€5,664 | |
| Non-recurring operating income | 76A | €5,944 | - | -€5,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,876 | €44,566 | -€311 | -0.7% |
| Other operating charges | 640/8 | €8,126 | €2,206 | -€5,920 | -72.8% |
| Gross operating margin | 9900 | €326,762 | €194,904 | -€131,858 | -40.4% |
| Operating profit (loss) | 9901 | €273,759 | €148,132 | -€125,627 | -45.9% |
| Financial income | 75/76B | €675 | €26,393 | +€25,718 | +3,807% |
| Recurring financial income | 75 | €675 | €26,393 | +€25,718 | +3,807% |
| Financial charges | 65/66B | €13,230 | €22,259 | +€9,029 | +68.2% |
| Recurring financial charges | 65 | €13,230 | €22,259 | +€9,029 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | €261,204 | €152,267 | -€108,938 | -41.7% |
| Income taxes | 67/77 | €78,346 | €45,704 | -€32,642 | -41.7% |
| Profit (loss) for the period | 9904 | €182,858 | €106,562 | -€76,296 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €182,858 | €106,562 | -€76,296 | -41.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.