KOENIG: 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.
What changed
KOENIG
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€526,340
2024 · €63,955-€590,295
Equity
€602,345
2024 · €1.1m-€466,340
Cash
€18,336
2024 · €23,854-€5,518
Balance sheet total
€8.8m
2024 · €8.9m-€96,058
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves -€525,000
down €525,000 (-54.9%), from €956,200 to €431,200
of which Distributable reserves: -€525,000
- Other debts +€218,312
up €218,312 (+11.7%), from €1.9m to €2.1m
Income statement
- Financial charges +€380,863
up €380,863 (+189%), from €201,519 to €582,382
- Turnover -€153,679
down €153,679 (-31.1%), from €494,419 to €340,740
- Services and other goods +€104,881
up €104,881 (+75.9%), from €138,224 to €243,106
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.
Result 2024
€63,955
Turnover
-€153,679
Services and other goods
-€104,881
Depreciation
-€142
Other operating charges
-€243
Other operating items
+€47,302
Financial income
+€2,211
Financial charges
-€380,863
Result 2025
-€526,340
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€145,259
Investment
€0
Financing
+€139,741
Cash 2024
€23,854
From operations (derived)
-€145,259
Net result for the year
-€526,340
Depreciation
+€30,025
Receivables within one year
+€60,515
Trade debts
+€68,932
Other debts
+€218,312
Accrued charges and deferred income
+€3,297
Financing
+€139,741
Debts after one year
+€76,769
Current portion of long-term debt
+€2,972
Contributions, distributions and other
+€60,000
Cash 2025
€18,336
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,898,530 | €8,802,471 | -€96,058 | -1.1% |
| Fixed assets | 21/28 | €8,220,697 | €8,190,672 | -€30,025 | -0.4% |
| Tangible fixed assets | 22/27 | €769,772 | €739,747 | -€30,025 | -3.9% |
| Land and buildings | 22 | €736,117 | €710,153 | -€25,964 | -3.5% |
| Other tangible fixed assets | 26 | €33,655 | €29,594 | -€4,061 | -12.1% |
| Financial fixed assets | 28 | €7,450,925 | €7,450,925 | = | 0.0% |
| Affiliated companies | 280/1 | €7,450,925 | €7,450,925 | = | 0.0% |
| Participating interests | 280 | €7,450,925 | €7,450,925 | = | 0.0% |
| Current assets | 29/58 | €677,833 | €611,800 | -€66,033 | -9.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €653,979 | €593,464 | -€60,515 | -9.3% |
| Trade receivables | 40 | €507,747 | €514,700 | +€6,953 | +1.4% |
| Other amounts receivable | 41 | €146,232 | €78,764 | -€67,468 | -46.1% |
| Cash at bank and in hand | 54/58 | €23,854 | €18,336 | -€5,518 | -23.1% |
| Total equity and liabilities | 10/49 | €8,898,530 | €8,802,471 | -€96,058 | -1.1% |
| Equity | 10/15 | €1,068,685 | €602,345 | -€466,340 | -43.6% |
| Contributions | 10/11 | €102,000 | €162,000 | +€60,000 | +58.8% |
| Capital | 10 | €102,000 | €162,000 | +€60,000 | +58.8% |
| Issued capital | 100 | €102,000 | €162,000 | +€60,000 | +58.8% |
| Reserves | 13 | €956,200 | €431,200 | -€525,000 | -54.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €950,000 | €425,000 | -€525,000 | -55.3% |
| Profit (loss) carried forward | 14 | €10,485 | €9,145 | -€1,340 | -12.8% |
| Amounts payable | 17/49 | €7,829,845 | €8,200,126 | +€370,282 | +4.7% |
| Amounts payable after more than one year | 17 | €4,767,880 | €4,844,649 | +€76,769 | +1.6% |
| Financial debts | 170/4 | €4,767,880 | €4,844,649 | +€76,769 | +1.6% |
| Subordinated loans | 170 | €1,750,000 | €1,977,645 | +€227,645 | +13.0% |
| Credit institutions | 173 | €1,867,880 | €1,586,313 | -€281,566 | -15.1% |
| Other loans | 174 | €1,150,000 | €1,280,690 | +€130,690 | +11.4% |
| Amounts payable within one year | 42/48 | €3,061,965 | €3,352,181 | +€290,216 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €278,594 | €281,566 | +€2,972 | +1.1% |
| Financial debts | 43 | €850,000 | €850,000 | = | 0.0% |
| Credit institutions | 430/8 | €850,000 | €850,000 | = | 0.0% |
| Trade debts | 44 | €65,838 | €134,770 | +€68,932 | +105% |
| Suppliers | 440/4 | €65,838 | €134,770 | +€68,932 | +105% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,867,532 | €2,085,845 | +€218,312 | +11.7% |
| Accrued charges and deferred income | 492/3 | - | €3,297 | +€3,297 | |
| Operating income | 70/76A | €494,419 | €340,740 | -€153,679 | -31.1% |
| Turnover | 70 | €494,419 | €340,740 | -€153,679 | -31.1% |
| Operating charges | 60/66A | €228,944 | €286,909 | +€57,965 | +25.3% |
| Purchases | 600/8 | €115,455 | €0 | -€115,455 | -100% |
| Change in stocks: decrease (increase) | 609 | -€115,455 | €0 | +€115,455 | |
| Services and other goods | 61 | €138,224 | €243,106 | +€104,881 | +75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,883 | €30,025 | +€142 | +0.5% |
| Other operating charges | 640/8 | €13,535 | €13,778 | +€243 | +1.8% |
| Non-recurring operating charges | 66A | €47,302 | €0 | -€47,302 | -100% |
| Operating profit (loss) | 9901 | €265,474 | €53,831 | -€211,643 | -79.7% |
| Financial income | 75/76B | €0 | €2,211 | +€2,211 | |
| Recurring financial income | 75 | €0 | €2,211 | +€2,211 | |
| Income from current assets | 751 | €0 | €2,211 | +€2,211 | |
| Financial charges | 65/66B | €201,519 | €582,382 | +€380,863 | +189% |
| Recurring financial charges | 65 | €201,519 | €582,382 | +€380,863 | +189% |
| Debt charges | 650 | €198,023 | €580,375 | +€382,352 | +193% |
| Other financial charges | 652/9 | €3,497 | €2,007 | -€1,489 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €63,955 | -€526,340 | -€590,295 | |
| Income taxes | 67/77 | €0 | - | = | |
| Taxes | 670/3 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €63,955 | -€526,340 | -€590,295 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,955 | -€526,340 | -€590,295 |
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.