WERNER KONINCKX: 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.
WERNER KONINCKX
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Cash +€564,373
up €564,373 (+1,163%), from €48,534 to €612,908
mainly Current investments (+€1.0m) and Other debts (+€329,726)
- Receivables within one year +€513,577
up €513,577 (+70.0%), from €733,930 to €1.2m
of which Other amounts receivable: +€442,841
- Financial fixed assets +€100,000
up €100,000 (+10.9%), from €920,250 to €1.0m
- Other debts +€329,726
up €329,726 (+49.5%), from €666,602 to €996,328
- Trade debts -€151,925
down €151,925 (-12.9%), from €1.2m to €1.0m
- Gross operating margin +€8,898
up €8,898 (+27.9%), from €31,865 to €40,764
- Depreciation -€6,488
down €6,488 (-20.5%), from €31,650 to €25,162
- Other operating charges +€4,996
up €4,996 (+69.2%), from €7,222 to €12,218
- Financial income +€3,782
up €3,782 (+10.2%), from €37,162 to €40,944
- Taxes +€2,713
up €2,713 (+30.3%), from €8,952 to €11,665
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 | €3,594,645 | €3,804,809 | +€210,164 | +5.8% |
| Fixed assets | 21/28 | €1,805,259 | €1,941,717 | +€136,459 | +7.6% |
| Tangible fixed assets | 22/27 | €885,009 | €921,467 | +€36,459 | +4.1% |
| Land and buildings | 22 | €880,638 | €917,658 | +€37,020 | +4.2% |
| Plant, machinery and equipment | 23 | €4,370 | €2,729 | -€1,642 | -37.6% |
| Furniture and vehicles | 24 | - | €1,080 | +€1,080 | |
| Financial fixed assets | 28 | €920,250 | €1,020,250 | +€100,000 | +10.9% |
| Current assets | 29/58 | €1,789,386 | €1,863,091 | +€73,705 | +4.1% |
| Amounts receivable within one year | 40/41 | €733,930 | €1,247,507 | +€513,577 | +70.0% |
| Trade receivables | 40 | €316,505 | €387,241 | +€70,735 | +22.3% |
| Other amounts receivable | 41 | €417,425 | €860,266 | +€442,841 | +106% |
| Current investments | 50/53 | €1,000,000 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €48,534 | €612,908 | +€564,373 | +1,163% |
| Deferred charges and accrued income | 490/1 | €6,921 | €2,676 | -€4,245 | -61.3% |
| Total equity and liabilities | 10/49 | €3,594,645 | €3,804,809 | +€210,164 | +5.8% |
| Equity | 10/15 | €1,752,238 | €1,784,509 | +€32,271 | +1.8% |
| Contributions | 10/11 | €784,828 | €784,828 | = | 0.0% |
| Reserves | 13 | €967,410 | €999,681 | +€32,271 | +3.3% |
| Non-distributable reserves | 130/1 | €3,222 | €3,222 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,222 | €3,222 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,000 | €117,000 | = | 0.0% |
| Distributable reserves | 133 | €847,189 | €879,459 | +€32,271 | +3.8% |
| Amounts payable | 17/49 | €1,842,407 | €2,020,300 | +€177,893 | +9.7% |
| Amounts payable within one year | 42/48 | €1,842,407 | €2,020,300 | +€177,893 | +9.7% |
| Trade debts | 44 | €1,175,805 | €1,023,880 | -€151,925 | -12.9% |
| Suppliers | 440/4 | €1,175,805 | €1,023,880 | -€151,925 | -12.9% |
| Taxes, remuneration and social security | 45 | - | €92 | +€92 | |
| Remuneration and social security | 454/9 | - | €92 | +€92 | |
| Other amounts payable | 47/48 | €666,602 | €996,328 | +€329,726 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,650 | €25,162 | -€6,488 | -20.5% |
| Other operating charges | 640/8 | €7,222 | €12,218 | +€4,996 | +69.2% |
| Gross operating margin | 9900 | €31,865 | €40,764 | +€8,898 | +27.9% |
| Operating profit (loss) | 9901 | -€7,007 | €3,384 | +€10,391 | |
| Financial income | 75/76B | €37,162 | €40,944 | +€3,782 | +10.2% |
| Recurring financial income | 75 | €37,162 | €40,944 | +€3,782 | +10.2% |
| Financial charges | 65/66B | €451 | €392 | -€59 | -13.0% |
| Recurring financial charges | 65 | €451 | €392 | -€59 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €29,704 | €43,936 | +€14,232 | +47.9% |
| Income taxes | 67/77 | €8,952 | €11,665 | +€2,713 | +30.3% |
| Profit (loss) for the period | 9904 | €20,752 | €32,271 | +€11,519 | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,752 | €32,271 | +€11,519 | +55.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.