Roel Knockaert: 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.
Roel Knockaert
Largest movements
- Cash -€57,083
down €57,083 (-34.4%), from €165,833 to €108,750
mainly Investment in fixed assets (net) (-€108,540) and Contributions, distributions and other (-€95,000)
- Stocks and contracts +€18,500
up €18,500 (+487%), from €3,800 to €22,300
- Tangible fixed assets -€14,340
down €14,340 (-3.4%), from €421,260 to €406,920
of which Furniture and vehicles: -€73,950
- Deferred charges and accrued income +€12,017
up €12,017 (+57.2%), from €21,006 to €33,023
- Receivables within one year +€7,225
up €7,225 (+10.6%), from €68,155 to €75,379
of which Other amounts receivable: +€4,817
- Reserves -€66,000
down €66,000 (-19.8%), from €333,360 to €267,360
- Other debts +€40,518
up €40,518 (+73.5%), from €55,127 to €95,645
- Tax, wage and social debts -€25,378
down €25,378 (-64.6%), from €39,266 to €13,887
- Debts after one year -€23,019
down €23,019 (-32.3%), from €71,170 to €48,152
- Trade debts +€21,790
up €21,790 (+119%), from €18,299 to €40,089
- Gross operating margin +€26,370
up €26,370 (+18.3%), from €144,264 to €170,634
- Taxes +€6,270
up €6,270 (+168%), from €3,742 to €10,013
- Financial income -€4,092
down €4,092 (-88.5%), from €4,623 to €531
- Financial charges -€2,413
down €2,413 (-53.2%), from €4,537 to €2,124
- Other operating charges -€2,392
down €2,392 (-27.8%), from €8,616 to €6,224
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 | €689,337 | €655,655 | -€33,681 | -4.9% |
| Fixed assets | 21/28 | €430,544 | €416,203 | -€14,340 | -3.3% |
| Tangible fixed assets | 22/27 | €421,260 | €406,920 | -€14,340 | -3.4% |
| Land and buildings | 22 | €147,936 | €141,995 | -€5,940 | -4.0% |
| Plant, machinery and equipment | 23 | €132,776 | €119,343 | -€13,433 | -10.1% |
| Furniture and vehicles | 24 | €140,549 | €66,599 | -€73,950 | -52.6% |
| Leasing and similar rights | 25 | - | €78,983 | +€78,983 | |
| Financial fixed assets | 28 | €9,283 | €9,283 | = | 0.0% |
| Current assets | 29/58 | €258,793 | €239,452 | -€19,341 | -7.5% |
| Stocks and contracts in progress | 3 | €3,800 | €22,300 | +€18,500 | +487% |
| Stocks | 30/36 | €3,800 | €22,300 | +€18,500 | +487% |
| Amounts receivable within one year | 40/41 | €68,155 | €75,379 | +€7,225 | +10.6% |
| Trade receivables | 40 | €58,675 | €61,083 | +€2,408 | +4.1% |
| Other amounts receivable | 41 | €9,480 | €14,297 | +€4,817 | +50.8% |
| Cash at bank and in hand | 54/58 | €165,833 | €108,750 | -€57,083 | -34.4% |
| Deferred charges and accrued income | 490/1 | €21,006 | €33,023 | +€12,017 | +57.2% |
| Total equity and liabilities | 10/49 | €689,337 | €655,655 | -€33,681 | -4.9% |
| Equity | 10/15 | €434,144 | €369,069 | -€65,075 | -15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €333,360 | €267,360 | -€66,000 | -19.8% |
| Distributable reserves | 133 | €333,360 | €267,360 | -€66,000 | -19.8% |
| Profit (loss) carried forward | 14 | €82,184 | €83,109 | +€925 | +1.1% |
| Amounts payable | 17/49 | €255,192 | €286,586 | +€31,394 | +12.3% |
| Amounts payable after more than one year | 17 | €71,170 | €48,152 | -€23,019 | -32.3% |
| Financial debts | 170/4 | €71,170 | €48,152 | -€23,019 | -32.3% |
| Amounts payable within one year | 42/48 | €181,724 | €237,973 | +€56,250 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €69,032 | €88,352 | +€19,320 | +28.0% |
| Trade debts | 44 | €18,299 | €40,089 | +€21,790 | +119% |
| Suppliers | 440/4 | €18,299 | €40,089 | +€21,790 | +119% |
| Taxes, remuneration and social security | 45 | €39,266 | €13,887 | -€25,378 | -64.6% |
| Taxes | 450/3 | €39,266 | €13,887 | -€25,378 | -64.6% |
| Other amounts payable | 47/48 | €55,127 | €95,645 | +€40,518 | +73.5% |
| Accrued charges and deferred income | 492/3 | €2,298 | €461 | -€1,837 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,188 | €122,880 | -€1,308 | -1.1% |
| Other operating charges | 640/8 | €8,616 | €6,224 | -€2,392 | -27.8% |
| Gross operating margin | 9900 | €144,264 | €170,634 | +€26,370 | +18.3% |
| Operating profit (loss) | 9901 | €11,460 | €41,530 | +€30,070 | +262% |
| Financial income | 75/76B | €4,623 | €531 | -€4,092 | -88.5% |
| Recurring financial income | 75 | €4,623 | €531 | -€4,092 | -88.5% |
| Financial charges | 65/66B | €4,537 | €2,124 | -€2,413 | -53.2% |
| Recurring financial charges | 65 | €4,537 | €2,124 | -€2,413 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €11,547 | €39,938 | +€28,391 | +246% |
| Income taxes | 67/77 | €3,742 | €10,013 | +€6,270 | +168% |
| Profit (loss) for the period | 9904 | €7,805 | €29,925 | +€22,120 | +283% |
| Profit (loss) for the period to be appropriated | 9905 | €7,805 | €29,925 | +€22,120 | +283% |
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 27 October 2026 via checked.be.