Werner Konings: 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 Konings
Largest movements
- Receivables within one year +€114,722
new in 2025: €114,722
- Financial fixed assets -€78,747
no longer reported in 2025 (was €78,747)
- Cash +€35,245
up €35,245 (+302%), from €11,660 to €46,906
mainly Net result for the year (+€75,593) and Investment in fixed assets (net) (+€58,501)
- Tangible fixed assets -€20,912
down €20,912 (-6.6%), from €315,172 to €294,260
of which Land and buildings: -€38,182
- Receivables after one year +€4,813
new in 2025: €4,813
- Profit (loss) carried forward +€51,164
no longer reported in 2025 (was -€51,164)
- Debts after one year -€43,743
down €43,743 (-11.0%), from €398,331 to €354,589
- Reserves +€24,429
new in 2025: €24,429
- Current portion of long-term debt +€11,808
up €11,808 (+27.8%), from €42,484 to €54,292
- Trade debts +€9,300
up €9,300 (+753%), from €1,236 to €10,535
- Financial income +€127,866
up €127,866 (+1,636%), from €7,818 to €135,684
- Taxes +€42,575
up €42,575 (+706%), from €6,034 to €48,609
- Gross operating margin -€19,667
down €19,667 (-31.3%), from €62,930 to €43,262
- Depreciation +€830
up €830 (+2.1%), from €40,327 to €41,157
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 | €407,280 | €464,105 | +€56,826 | +14.0% |
| Fixed assets | 21/28 | €393,919 | €294,260 | -€99,659 | -25.3% |
| Tangible fixed assets | 22/27 | €315,172 | €294,260 | -€20,912 | -6.6% |
| Land and buildings | 22 | €311,193 | €273,011 | -€38,182 | -12.3% |
| Furniture and vehicles | 24 | €3,979 | €21,250 | +€17,270 | +434% |
| Financial fixed assets | 28 | €78,747 | - | -€78,747 | |
| Current assets | 29/58 | €13,360 | €169,845 | +€156,485 | +1,171% |
| Amounts receivable after more than one year | 29 | - | €4,813 | +€4,813 | |
| Other amounts receivable | 291 | - | €4,813 | +€4,813 | |
| Amounts receivable within one year | 40/41 | - | €114,722 | +€114,722 | |
| Other amounts receivable | 41 | - | €114,722 | +€114,722 | |
| Current investments | 50/53 | €1,700 | €2,300 | +€600 | +35.3% |
| Cash at bank and in hand | 54/58 | €11,660 | €46,906 | +€35,245 | +302% |
| Deferred charges and accrued income | 490/1 | - | €1,105 | +€1,105 | |
| Total equity and liabilities | 10/49 | €407,280 | €464,105 | +€56,826 | +14.0% |
| Equity | 10/15 | -€44,964 | €30,629 | +€75,593 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €24,429 | +€24,429 | |
| Distributable reserves | 133 | - | €24,429 | +€24,429 | |
| Profit (loss) carried forward | 14 | -€51,164 | - | +€51,164 | |
| Amounts payable | 17/49 | €452,244 | €433,477 | -€18,767 | -4.1% |
| Amounts payable after more than one year | 17 | €398,331 | €354,589 | -€43,743 | -11.0% |
| Financial debts | 170/4 | €398,331 | €354,589 | -€43,743 | -11.0% |
| Amounts payable within one year | 42/48 | €53,912 | €78,888 | +€24,976 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | €42,484 | €54,292 | +€11,808 | +27.8% |
| Trade debts | 44 | €1,236 | €10,535 | +€9,300 | +753% |
| Suppliers | 440/4 | €1,236 | €10,535 | +€9,300 | +753% |
| Taxes, remuneration and social security | 45 | €8,579 | €14,060 | +€5,481 | +63.9% |
| Taxes | 450/3 | €8,579 | €14,060 | +€5,481 | +63.9% |
| Other amounts payable | 47/48 | €1,613 | - | -€1,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,327 | €41,157 | +€830 | +2.1% |
| Other operating charges | 640/8 | €2,193 | €2,261 | +€69 | +3.1% |
| Gross operating margin | 9900 | €62,930 | €43,262 | -€19,667 | -31.3% |
| Operating profit (loss) | 9901 | €20,410 | -€157 | -€20,566 | |
| Financial income | 75/76B | €7,818 | €135,684 | +€127,866 | +1,636% |
| Recurring financial income | 75 | €7,818 | €135,684 | +€127,866 | +1,636% |
| Financial charges | 65/66B | €10,702 | €11,326 | +€624 | +5.8% |
| Recurring financial charges | 65 | €10,702 | €11,326 | +€624 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €17,526 | €124,202 | +€106,676 | +609% |
| Income taxes | 67/77 | €6,034 | €48,609 | +€42,575 | +706% |
| Profit (loss) for the period | 9904 | €11,492 | €75,593 | +€64,101 | +558% |
| Profit (loss) for the period to be appropriated | 9905 | €11,492 | €75,593 | +€64,101 | +558% |
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 25 October 2026 via checked.be.