SERGE KOCH: 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.
SERGE KOCH
Largest movements
- Cash -€44,758
down €44,758 (-70.0%), from €63,980 to €19,221
mainly Receivables within one year (-€32,145) and Tax, wage and social debts (-€24,648)
- Receivables within one year +€32,145
up €32,145 (+5,581%), from €576 to €32,721
- Tangible fixed assets -€5,000
down €5,000 (-18.2%), from €27,500 to €22,500
- Tax, wage and social debts -€24,648
no longer reported in 2025 (was €24,648)
- Other debts +€11,648
new in 2025: €11,648
- Trade debts -€2,897
down €2,897 (-67.8%), from €4,274 to €1,377
- Profit (loss) carried forward -€1,716
down €1,716 (-11.8%), from -€14,584 to -€16,300
- Gross operating margin -€6,892
down €6,892 (-64.9%), from €10,621 to €3,728
- Other operating charges -€2,534
down €2,534 (-86.4%), from €2,934 to €400
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 | €92,056 | €74,443 | -€17,613 | -19.1% |
| Fixed assets | 21/28 | €27,500 | €22,500 | -€5,000 | -18.2% |
| Tangible fixed assets | 22/27 | €27,500 | €22,500 | -€5,000 | -18.2% |
| Land and buildings | 22 | €27,500 | €22,500 | -€5,000 | -18.2% |
| Current assets | 29/58 | €64,556 | €51,943 | -€12,613 | -19.5% |
| Amounts receivable within one year | 40/41 | €576 | €32,721 | +€32,145 | +5,581% |
| Other amounts receivable | 41 | €576 | €32,721 | +€32,145 | +5,581% |
| Cash at bank and in hand | 54/58 | €63,980 | €19,221 | -€44,758 | -70.0% |
| Total equity and liabilities | 10/49 | €92,056 | €74,443 | -€17,613 | -19.1% |
| Equity | 10/15 | €63,134 | €61,418 | -€1,716 | -2.7% |
| Contributions | 10/11 | €77,718 | €77,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,584 | -€16,300 | -€1,716 | -11.8% |
| Amounts payable | 17/49 | €28,922 | €13,025 | -€15,897 | -55.0% |
| Amounts payable within one year | 42/48 | €28,922 | €13,025 | -€15,897 | -55.0% |
| Trade debts | 44 | €4,274 | €1,377 | -€2,897 | -67.8% |
| Suppliers | 440/4 | €4,274 | €1,377 | -€2,897 | -67.8% |
| Taxes, remuneration and social security | 45 | €24,648 | - | -€24,648 | |
| Taxes | 450/3 | €24,648 | - | -€24,648 | |
| Other amounts payable | 47/48 | - | €11,648 | +€11,648 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,000 | €5,000 | = | 0.0% |
| Other operating charges | 640/8 | €2,934 | €400 | -€2,534 | -86.4% |
| Gross operating margin | 9900 | €10,621 | €3,728 | -€6,892 | -64.9% |
| Operating profit (loss) | 9901 | €2,687 | -€1,671 | -€4,358 | |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €2,642 | -€1,716 | -€4,358 | |
| Profit (loss) for the period | 9904 | €2,642 | -€1,716 | -€4,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,642 | -€1,716 | -€4,358 |
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 18 October 2026 via checked.be.