BAKKERIJ KOERSEL: 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.
BAKKERIJ KOERSEL
Largest movements
- Tangible fixed assets +€37,654
up €37,654 (+42.0%), from €89,756 to €127,410
- Cash +€21,477
up €21,477 (+83.7%), from €25,652 to €47,129
mainly Net result for the year (+€73,074) and Debts after one year (+€43,695)
- Receivables within one year +€10,584
up €10,584 (+38.8%), from €27,275 to €37,860
of which Other amounts receivable: +€6,238
- Stocks and contracts +€4,947
up €4,947 (+25.0%), from €19,786 to €24,733
- Deferred charges and accrued income +€4,497
new in 2025: €4,497
- Reserves +€73,074
up €73,074 (+348%), from €21,004 to €94,079
- Debts after one year +€43,695
up €43,695 (+77.3%), from €56,536 to €100,231
- Current portion of long-term debt -€27,083
no longer reported in 2025 (was €27,083)
- Trade debts -€24,208
down €24,208 (-58.9%), from €41,118 to €16,910
- Tax, wage and social debts +€9,129
up €9,129 (+54.1%), from €16,879 to €26,007
of which Taxes: +€8,141
- Gross operating margin +€71,545
up €71,545 (+70.0%), from €102,154 to €173,699
- Taxes +€11,163
up €11,163 (+134%), from €8,315 to €19,478
- Staff costs +€9,801
up €9,801 (+31.8%), from €30,826 to €40,627
- Other operating charges -€6,849
down €6,849 (-70.4%), from €9,734 to €2,885
- Depreciation +€3,432
up €3,432 (+11.9%), from €28,832 to €32,265
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 | €168,469 | €247,628 | +€79,160 | +47.0% |
| Fixed assets | 21/28 | €95,756 | €133,410 | +€37,654 | +39.3% |
| Tangible fixed assets | 22/27 | €89,756 | €127,410 | +€37,654 | +42.0% |
| Land and buildings | 22 | - | €4,717 | +€4,717 | |
| Plant, machinery and equipment | 23 | €3,957 | €21,684 | +€17,727 | +448% |
| Furniture and vehicles | 24 | €85,799 | €101,008 | +€15,209 | +17.7% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €72,713 | €114,219 | +€41,506 | +57.1% |
| Stocks and contracts in progress | 3 | €19,786 | €24,733 | +€4,947 | +25.0% |
| Stocks | 30/36 | €19,786 | €24,733 | +€4,947 | +25.0% |
| Amounts receivable within one year | 40/41 | €27,275 | €37,860 | +€10,584 | +38.8% |
| Trade receivables | 40 | €26,252 | €30,598 | +€4,347 | +16.6% |
| Other amounts receivable | 41 | €1,024 | €7,261 | +€6,238 | +609% |
| Cash at bank and in hand | 54/58 | €25,652 | €47,129 | +€21,477 | +83.7% |
| Deferred charges and accrued income | 490/1 | - | €4,497 | +€4,497 | |
| Total equity and liabilities | 10/49 | €168,469 | €247,628 | +€79,160 | +47.0% |
| Equity | 10/15 | €26,004 | €99,079 | +€73,074 | +281% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,004 | €94,079 | +€73,074 | +348% |
| Distributable reserves | 133 | €21,004 | €94,079 | +€73,074 | +348% |
| Amounts payable | 17/49 | €142,465 | €148,550 | +€6,085 | +4.3% |
| Amounts payable after more than one year | 17 | €56,536 | €100,231 | +€43,695 | +77.3% |
| Financial debts | 170/4 | €56,536 | €100,231 | +€43,695 | +77.3% |
| Amounts payable within one year | 42/48 | €85,929 | €48,318 | -€37,610 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €27,083 | - | -€27,083 | |
| Trade debts | 44 | €41,118 | €16,910 | -€24,208 | -58.9% |
| Suppliers | 440/4 | €41,118 | €16,910 | -€24,208 | -58.9% |
| Taxes, remuneration and social security | 45 | €16,879 | €26,007 | +€9,129 | +54.1% |
| Taxes | 450/3 | €14,780 | €22,920 | +€8,141 | +55.1% |
| Remuneration and social security | 454/9 | €2,099 | €3,087 | +€988 | +47.1% |
| Other amounts payable | 47/48 | €849 | €5,401 | +€4,552 | +536% |
| Remuneration, social security and pensions | 62 | €30,826 | €40,627 | +€9,801 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,832 | €32,265 | +€3,432 | +11.9% |
| Other operating charges | 640/8 | €9,734 | €2,885 | -€6,849 | -70.4% |
| Gross operating margin | 9900 | €102,154 | €173,699 | +€71,545 | +70.0% |
| Operating profit (loss) | 9901 | €32,762 | €97,922 | +€65,161 | +199% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,582 | €5,370 | +€1,788 | +49.9% |
| Recurring financial charges | 65 | €3,582 | €5,370 | +€1,788 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | €29,179 | €92,552 | +€63,373 | +217% |
| Income taxes | 67/77 | €8,315 | €19,478 | +€11,163 | +134% |
| Profit (loss) for the period | 9904 | €20,864 | €73,074 | +€52,210 | +250% |
| Profit (loss) for the period to be appropriated | 9905 | €20,864 | €73,074 | +€52,210 | +250% |
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 30 October 2026 via checked.be.