KOPSTAART: 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.
KOPSTAART
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-21.1%), from €71,250 to €56,250
- Receivables within one year -€13,360
down €13,360 (-19.4%), from €68,850 to €55,489
of which Trade receivables: -€20,883
- Tangible fixed assets -€6,064
down €6,064 (-36.1%), from €16,800 to €10,736
- Cash +€4,373
up €4,373 (+11.9%), from €36,690 to €41,063
mainly Depreciation (+€20,835) and Receivables within one year (+€13,360)
- Debts after one year -€19,333
down €19,333 (-51.3%), from €37,712 to €18,379
- Trade debts -€18,128
down €18,128 (-95.0%), from €19,079 to €950
- Reserves -€10,434
down €10,434 (-10.4%), from €99,900 to €89,466
- Other debts +€10,000
up €10,000, from €0 to €10,000
- Tax, wage and social debts +€4,426
up €4,426 (+37.7%), from €11,736 to €16,161
- Gross operating margin -€11,727
down €11,727 (-32.5%), from €36,101 to €24,374
- Taxes -€2,167
down €2,167 (-63.3%), from €3,424 to €1,257
- Staff costs -€1,744
down €1,744 (-100%), from €1,744 to €0
- Depreciation -€1,117
down €1,117 (-5.1%), from €21,951 to €20,835
- Financial charges -€1,001
down €1,001 (-29.5%), from €3,393 to €2,392
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 | €193,590 | €164,072 | -€29,518 | -15.2% |
| Fixed assets | 21/28 | €88,050 | €66,986 | -€21,064 | -23.9% |
| Intangible fixed assets | 21 | €71,250 | €56,250 | -€15,000 | -21.1% |
| Tangible fixed assets | 22/27 | €16,800 | €10,736 | -€6,064 | -36.1% |
| Plant, machinery and equipment | 23 | €7,805 | €5,648 | -€2,156 | -27.6% |
| Furniture and vehicles | 24 | €5,233 | €2,619 | -€2,614 | -50.0% |
| Other tangible fixed assets | 26 | €3,762 | €2,469 | -€1,293 | -34.4% |
| Current assets | 29/58 | €105,540 | €97,086 | -€8,454 | -8.0% |
| Amounts receivable within one year | 40/41 | €68,850 | €55,489 | -€13,360 | -19.4% |
| Trade receivables | 40 | €58,567 | €37,684 | -€20,883 | -35.7% |
| Other amounts receivable | 41 | €10,283 | €17,806 | +€7,522 | +73.2% |
| Cash at bank and in hand | 54/58 | €36,690 | €41,063 | +€4,373 | +11.9% |
| Deferred charges and accrued income | 490/1 | - | €534 | +€534 | |
| Total equity and liabilities | 10/49 | €193,590 | €164,072 | -€29,518 | -15.2% |
| Equity | 10/15 | €106,323 | €95,666 | -€10,657 | -10.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €99,900 | €89,466 | -€10,434 | -10.4% |
| Distributable reserves | 133 | €99,900 | €89,466 | -€10,434 | -10.4% |
| Profit (loss) carried forward | 14 | €223 | €0 | -€223 | -100% |
| Amounts payable | 17/49 | €87,266 | €68,406 | -€18,861 | -21.6% |
| Amounts payable after more than one year | 17 | €37,712 | €18,379 | -€19,333 | -51.3% |
| Financial debts | 170/4 | €37,712 | €18,379 | -€19,333 | -51.3% |
| Amounts payable within one year | 42/48 | €49,554 | €49,777 | +€222 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €18,740 | €19,334 | +€594 | +3.2% |
| Financial debts | 43 | €0 | €3,331 | +€3,331 | |
| Credit institutions | 430/8 | €0 | €3,331 | +€3,331 | |
| Trade debts | 44 | €19,079 | €950 | -€18,128 | -95.0% |
| Suppliers | 440/4 | €19,079 | €950 | -€18,128 | -95.0% |
| Taxes, remuneration and social security | 45 | €11,736 | €16,161 | +€4,426 | +37.7% |
| Taxes | 450/3 | €11,736 | €16,161 | +€4,426 | +37.7% |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Non-recurring operating income | 76A | €1,562 | €0 | -€1,562 | -100% |
| Remuneration, social security and pensions | 62 | €1,744 | €0 | -€1,744 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,951 | €20,835 | -€1,117 | -5.1% |
| Other operating charges | 640/8 | €430 | €547 | +€117 | +27.2% |
| Gross operating margin | 9900 | €36,101 | €24,374 | -€11,727 | -32.5% |
| Operating profit (loss) | 9901 | €11,975 | €2,992 | -€8,983 | -75.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,393 | €2,392 | -€1,001 | -29.5% |
| Recurring financial charges | 65 | €3,393 | €2,392 | -€1,001 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €8,582 | €600 | -€7,982 | -93.0% |
| Income taxes | 67/77 | €3,424 | €1,257 | -€2,167 | -63.3% |
| Profit (loss) for the period | 9904 | €5,158 | -€657 | -€5,815 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,158 | -€657 | -€5,815 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.