CŒUR EBENE: 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.
CŒUR EBENE
Largest movements
- Tangible fixed assets +€96,856
up €96,856 (+762%), from €12,712 to €109,568
of which Leasing and similar rights: +€89,899
- Stocks and contracts +€6,666
new in 2025: €6,666
- Cash +€6,548
up €6,548 (+152%), from €4,307 to €10,855
mainly Debts after one year (+€70,087) and Depreciation (+€22,169)
- Deferred charges and accrued income -€4,461
no longer reported in 2025 (was €4,461)
- Receivables within one year -€2,554
down €2,554 (-8.9%), from €28,822 to €26,268
of which Trade receivables: -€9,297
- Debts after one year +€70,087
up €70,087 (+426%), from €16,459 to €86,546
- Current portion of long-term debt +€17,156
up €17,156 (+322%), from €5,334 to €22,491
- Trade debts +€9,075
up €9,075 (+2,535%), from €358 to €9,433
- Profit (loss) carried forward +€8,029
new in 2025: €8,029
- Gross operating margin +€35,650
up €35,650 (+438%), from €8,147 to €43,797
- Depreciation +€14,964
up €14,964 (+208%), from €7,206 to €22,169
- Financial charges +€6,670
up €6,670 (+198%), from €3,373 to €10,043
of which Financial charges: +€7,384
- Other operating charges +€514
up €514 (+102%), from €504 to €1,018
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 | €52,323 | €156,670 | +€104,347 | +199% |
| Formation expenses | 20 | €462 | €169 | -€292 | -63.4% |
| Fixed assets | 21/28 | €14,271 | €112,712 | +€98,441 | +690% |
| Intangible fixed assets | 21 | €1,559 | €3,144 | +€1,585 | +102% |
| Tangible fixed assets | 22/27 | €12,712 | €109,568 | +€96,856 | +762% |
| Plant, machinery and equipment | 23 | €12,032 | €16,270 | +€4,238 | +35.2% |
| Furniture and vehicles | 24 | €680 | €3,399 | +€2,719 | +400% |
| Leasing and similar rights | 25 | - | €89,899 | +€89,899 | |
| Current assets | 29/58 | €37,590 | €43,789 | +€6,199 | +16.5% |
| Stocks and contracts in progress | 3 | - | €6,666 | +€6,666 | |
| Stocks | 30/36 | - | €6,666 | +€6,666 | |
| Amounts receivable within one year | 40/41 | €28,822 | €26,268 | -€2,554 | -8.9% |
| Trade receivables | 40 | €15,314 | €6,016 | -€9,297 | -60.7% |
| Other amounts receivable | 41 | €13,509 | €20,252 | +€6,743 | +49.9% |
| Cash at bank and in hand | 54/58 | €4,307 | €10,855 | +€6,548 | +152% |
| Deferred charges and accrued income | 490/1 | €4,461 | - | -€4,461 | |
| Total equity and liabilities | 10/49 | €52,323 | €156,670 | +€104,347 | +199% |
| Equity | 10/15 | €30,172 | €38,201 | +€8,029 | +26.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €26,172 | €26,172 | = | 0.0% |
| Distributable reserves | 133 | €26,172 | €26,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €8,029 | +€8,029 | |
| Amounts payable | 17/49 | €22,151 | €118,469 | +€96,319 | +435% |
| Amounts payable after more than one year | 17 | €16,459 | €86,546 | +€70,087 | +426% |
| Financial debts | 170/4 | €16,459 | €86,546 | +€70,087 | +426% |
| Amounts payable within one year | 42/48 | €5,692 | €31,923 | +€26,231 | +461% |
| Current portion of amounts payable after more than one year | 42 | €5,334 | €22,491 | +€17,156 | +322% |
| Trade debts | 44 | €358 | €9,433 | +€9,075 | +2,535% |
| Suppliers | 440/4 | €358 | €9,433 | +€9,075 | +2,535% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,206 | €22,169 | +€14,964 | +208% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €151 | +€151 | |
| Other operating charges | 640/8 | €504 | €1,018 | +€514 | +102% |
| Non-recurring operating charges | 66A | €281 | €2,214 | +€1,933 | +687% |
| Gross operating margin | 9900 | €8,147 | €43,797 | +€35,650 | +438% |
| Operating profit (loss) | 9901 | €157 | €18,244 | +€18,088 | +11,551% |
| Financial income | 75/76B | €1 | €1 | +€0 | +8.1% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +8.1% |
| Financial charges | 65/66B | €3,373 | €10,043 | +€6,670 | +198% |
| Recurring financial charges | 65 | €2,659 | €10,043 | +€7,384 | +278% |
| Non-recurring financial charges | 66B | €714 | - | -€714 | |
| Profit (loss) for the period before taxes | 9903 | -€3,215 | €8,203 | +€11,418 | |
| Income taxes | 67/77 | - | €174 | +€174 | |
| Profit (loss) for the period | 9904 | -€3,215 | €8,029 | +€11,244 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,215 | €8,029 | +€11,244 |
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 16 October 2026 via checked.be.