BERT COOREMAN: what changed
Two fiscal 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.
BERT COOREMAN
Largest movements
- Cash +€38,564
up €38,564 (+47.9%), from €80,494 to €119,058
mainly Net result for the year (+€33,100) and Receivables within one year (+€12,272)
- Receivables within one year -€12,272
down €12,272 (-70.7%), from €17,361 to €5,088
of which Other amounts receivable: -€16,967
- Tangible fixed assets -€6,787
down €6,787 (-6.6%), from €103,434 to €96,647
of which Land and buildings: -€5,163
- Reserves +€9,193
up €9,193 (+5.1%), from €180,256 to €189,449
- Tax, wage and social debts +€8,285
up €8,285 (+282.9%), from €2,928 to €11,213
of which Taxes: +€6,883
- Other debts +€5,000
up €5,000, from €0 to €5,000
- Depreciation -€16,082
down €16,082 (-64.0%), from €25,116 to €9,034
- Gross operating margin +€12,727
up €12,727 (+30.2%), from €42,097 to €54,824
- Taxes +€6,944
up €6,944 (+168.2%), from €4,129 to €11,073
- Other operating charges +€714
up €714 (+51.7%), from €1,382 to €2,095
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.
Cash bridge derived
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 | €202,342 | €221,841 | +€19,499 | +9.6% |
| Fixed assets | 21/28 | €103,434 | €96,647 | -€6,787 | -6.6% |
| Tangible fixed assets | 22/27 | €103,434 | €96,647 | -€6,787 | -6.6% |
| Land and buildings | 22 | €64,867 | €59,704 | -€5,163 | -8.0% |
| Plant, machinery and equipment | 23 | €2,456 | €1,857 | -€599 | -24.4% |
| Furniture and vehicles | 24 | €1,094 | €614 | -€480 | -43.9% |
| Other tangible fixed assets | 26 | €35,017 | €34,472 | -€545 | -1.6% |
| Current assets | 29/58 | €98,907 | €125,194 | +€26,286 | +26.6% |
| Amounts receivable within one year | 40/41 | €17,361 | €5,088 | -€12,272 | -70.7% |
| Trade receivables | 40 | - | €4,695 | +€4,695 | |
| Other amounts receivable | 41 | €17,361 | €394 | -€16,967 | -97.7% |
| Cash at bank and in hand | 54/58 | €80,494 | €119,058 | +€38,564 | +47.9% |
| Deferred charges and accrued income | 490/1 | €1,053 | €1,047 | -€6 | -0.6% |
| Total equity and liabilities | 10/49 | €202,342 | €221,841 | +€19,499 | +9.6% |
| Equity | 10/15 | €192,656 | €201,849 | +€9,193 | +4.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €180,256 | €189,449 | +€9,193 | +5.1% |
| Distributable reserves | 133 | €180,256 | €189,449 | +€9,193 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,686 | €19,992 | +€10,306 | +106.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,686 | €19,992 | +€10,306 | +106.4% |
| Current portion of amounts payable after more than one year | 42 | €976 | €0 | -€976 | -100.0% |
| Trade debts | 44 | €5,782 | €3,779 | -€2,003 | -34.6% |
| Suppliers | 440/4 | €5,782 | €3,779 | -€2,003 | -34.6% |
| Taxes, remuneration and social security | 45 | €2,928 | €11,213 | +€8,285 | +282.9% |
| Taxes | 450/3 | €1,029 | €7,912 | +€6,883 | +669.2% |
| Remuneration and social security | 454/9 | €1,900 | €3,301 | +€1,402 | +73.8% |
| Other amounts payable | 47/48 | €0 | €5,000 | +€5,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,116 | €9,034 | -€16,082 | -64.0% |
| Other operating charges | 640/8 | €1,382 | €2,095 | +€714 | +51.7% |
| Gross operating margin | 9900 | €42,097 | €54,824 | +€12,727 | +30.2% |
| Operating profit (loss) | 9901 | €15,599 | €43,694 | +€28,095 | +180.1% |
| Financial income | 75/76B | €460 | €650 | +€190 | +41.4% |
| Recurring financial income | 75 | €460 | €650 | +€190 | +41.4% |
| Financial charges | 65/66B | €244 | €171 | -€73 | -30.1% |
| Recurring financial charges | 65 | €244 | €171 | -€73 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €15,815 | €44,173 | +€28,358 | +179.3% |
| Income taxes | 67/77 | €4,129 | €11,073 | +€6,944 | +168.2% |
| Profit (loss) for the period | 9904 | €11,686 | €33,100 | +€21,414 | +183.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,686 | €33,100 | +€21,414 | +183.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.