Belgian Coating Solution: 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.
Belgian Coating Solution
Largest movements
- Receivables within one year -€38,088
down €38,088 (-81.9%), from €46,505 to €8,416
of which Trade receivables: -€45,125
- Tangible fixed assets -€9,078
down €9,078 (-61.1%), from €14,870 to €5,792
- Cash -€7,114
down €7,114 (-84.2%), from €8,451 to €1,337
mainly Trade debts (-€47,704) and Tax, wage and social debts (-€9,804)
- Stocks and contracts -€1,500
down €1,500 (-100%), from €1,500 to €0
- Trade debts -€47,704
down €47,704 (-99.5%), from €47,940 to €236
- Tax, wage and social debts -€9,804
down €9,804 (-100%), from €9,804 to €0
- Profit (loss) carried forward +€7,350
up €7,350 (+49.9%), from -€14,741 to -€7,391
- Current portion of long-term debt -€3,167
down €3,167 (-57.6%), from €5,495 to €2,328
- Debts after one year -€2,328
down €2,328 (-100%), from €2,328 to €0
- Gross operating margin +€45,351
up €45,351, from -€27,324 to €18,027
- Taxes +€2,449
no longer reported in 2025 (was -€2,449)
- Depreciation +€466
up €466 (+5.0%), from €9,383 to €9,849
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 | €72,347 | €16,175 | -€56,172 | -77.6% |
| Formation expenses | 20 | €632 | €127 | -€505 | -79.9% |
| Fixed assets | 21/28 | €15,259 | €5,916 | -€9,343 | -61.2% |
| Intangible fixed assets | 21 | €389 | €124 | -€265 | -68.2% |
| Tangible fixed assets | 22/27 | €14,870 | €5,792 | -€9,078 | -61.1% |
| Plant, machinery and equipment | 23 | €14,870 | €5,792 | -€9,078 | -61.1% |
| Current assets | 29/58 | €56,456 | €10,133 | -€46,323 | -82.1% |
| Stocks and contracts in progress | 3 | €1,500 | €0 | -€1,500 | -100% |
| Stocks | 30/36 | €1,500 | €0 | -€1,500 | -100% |
| Amounts receivable within one year | 40/41 | €46,505 | €8,416 | -€38,088 | -81.9% |
| Trade receivables | 40 | €45,125 | €0 | -€45,125 | -100% |
| Other amounts receivable | 41 | €1,380 | €8,416 | +€7,036 | +510% |
| Cash at bank and in hand | 54/58 | €8,451 | €1,337 | -€7,114 | -84.2% |
| Deferred charges and accrued income | 490/1 | - | €379 | +€379 | |
| Total equity and liabilities | 10/49 | €72,347 | €16,175 | -€56,172 | -77.6% |
| Equity | 10/15 | €5,259 | €12,609 | +€7,350 | +140% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,741 | -€7,391 | +€7,350 | +49.9% |
| Amounts payable | 17/49 | €67,088 | €3,567 | -€63,522 | -94.7% |
| Amounts payable after more than one year | 17 | €2,328 | €0 | -€2,328 | -100% |
| Financial debts | 170/4 | €2,328 | €0 | -€2,328 | -100% |
| Amounts payable within one year | 42/48 | €64,761 | €3,567 | -€61,194 | -94.5% |
| Current portion of amounts payable after more than one year | 42 | €5,495 | €2,328 | -€3,167 | -57.6% |
| Trade debts | 44 | €47,940 | €236 | -€47,704 | -99.5% |
| Suppliers | 440/4 | €47,940 | €236 | -€47,704 | -99.5% |
| Taxes, remuneration and social security | 45 | €9,804 | €0 | -€9,804 | -100% |
| Taxes | 450/3 | €9,804 | €0 | -€9,804 | -100% |
| Other amounts payable | 47/48 | €1,522 | €1,002 | -€519 | -34.1% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,383 | €9,849 | +€466 | +5.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€27,324 | €18,027 | +€45,351 | |
| Operating profit (loss) | 9901 | -€37,094 | €7,779 | +€44,873 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €437 | €429 | -€8 | -1.9% |
| Recurring financial charges | 65 | €437 | €429 | -€8 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€37,531 | €7,350 | +€44,881 | |
| Income taxes | 67/77 | -€2,449 | - | +€2,449 | |
| Profit (loss) for the period | 9904 | -€35,083 | €7,350 | +€42,433 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,083 | €7,350 | +€42,433 |
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 14 October 2026 via checked.be.