S. KWANTEN: what changed
S. KWANTEN
Largest movements
- Cash -€32,822
down €32,822 (-67.2%), from €48,874 to €16,052
mainly Contributions, distributions and other (-€71,000) and Current investments (-€20,011)
- Current investments +€20,011
new in 2025: €20,011
- Receivables within one year +€4,274
up €4,274 (+26.9%), from €15,917 to €20,191
of which Trade receivables: +€3,343
- Tangible fixed assets -€2,332
down €2,332 (-20.4%), from €11,419 to €9,087
of which Other tangible fixed assets: -€1,473
- Deferred charges and accrued income +€1,251
up €1,251 (+56.7%), from €2,209 to €3,460
- Profit (loss) carried forward -€16,183
down €16,183 (-94.1%), from €17,193 to €1,009
- Tax, wage and social debts +€10,790
up €10,790 (+135%), from €8,003 to €18,793
- Other debts -€4,290
down €4,290 (-8.5%), from €50,190 to €45,900
- Gross operating margin -€9,198
down €9,198 (-10.5%), from €87,392 to €78,194
- Taxes -€1,368
down €1,368 (-8.6%), from €15,896 to €14,528
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 | €78,418 | €68,801 | -€9,617 | -12.3% |
| Fixed assets | 21/28 | €11,419 | €9,087 | -€2,332 | -20.4% |
| Tangible fixed assets | 22/27 | €11,419 | €9,087 | -€2,332 | -20.4% |
| Furniture and vehicles | 24 | €1,215 | €356 | -€859 | -70.7% |
| Other tangible fixed assets | 26 | €10,204 | €8,731 | -€1,473 | -14.4% |
| Current assets | 29/58 | €67,000 | €59,714 | -€7,285 | -10.9% |
| Amounts receivable within one year | 40/41 | €15,917 | €20,191 | +€4,274 | +26.9% |
| Trade receivables | 40 | €14,813 | €18,156 | +€3,343 | +22.6% |
| Other amounts receivable | 41 | €1,104 | €2,035 | +€931 | +84.4% |
| Current investments | 50/53 | - | €20,011 | +€20,011 | |
| Cash at bank and in hand | 54/58 | €48,874 | €16,052 | -€32,822 | -67.2% |
| Deferred charges and accrued income | 490/1 | €2,209 | €3,460 | +€1,251 | +56.7% |
| Total equity and liabilities | 10/49 | €78,418 | €68,801 | -€9,617 | -12.3% |
| Equity | 10/15 | €20,193 | €4,009 | -€16,183 | -80.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,193 | €1,009 | -€16,183 | -94.1% |
| Amounts payable | 17/49 | €58,226 | €64,792 | +€6,566 | +11.3% |
| Amounts payable within one year | 42/48 | €58,226 | €64,792 | +€6,566 | +11.3% |
| Trade debts | 44 | €33 | €99 | +€66 | +201% |
| Suppliers | 440/4 | €33 | €99 | +€66 | +201% |
| Taxes, remuneration and social security | 45 | €8,003 | €18,793 | +€10,790 | +135% |
| Taxes | 450/3 | €8,003 | €18,793 | +€10,790 | +135% |
| Other amounts payable | 47/48 | €50,190 | €45,900 | -€4,290 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,186 | €2,332 | +€146 | +6.7% |
| Other operating charges | 640/8 | €780 | €852 | +€71 | +9.1% |
| Gross operating margin | 9900 | €87,392 | €78,194 | -€9,198 | -10.5% |
| Operating profit (loss) | 9901 | €84,426 | €75,011 | -€9,415 | -11.2% |
| Financial income | 75/76B | €0 | €16 | +€16 | |
| Recurring financial income | 75 | €0 | €16 | +€16 | |
| Financial charges | 65/66B | €5,116 | €5,682 | +€566 | +11.1% |
| Recurring financial charges | 65 | €5,116 | €5,682 | +€566 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €79,310 | €69,345 | -€9,965 | -12.6% |
| Income taxes | 67/77 | €15,896 | €14,528 | -€1,368 | -8.6% |
| Profit (loss) for the period | 9904 | €63,413 | €54,817 | -€8,597 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,413 | €54,817 | -€8,597 | -13.6% |
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 7 November 2026 via checked.be.