CO CONCEPT: 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.
CO CONCEPT
Largest movements
- Stocks and contracts -€80,470
down €80,470 (-29.0%), from €277,719 to €197,249
- Receivables within one year +€66,550
up €66,550 (+23.4%), from €284,610 to €351,160
of which Trade receivables: +€66,320
- Cash +€11,163
up €11,163 (+81.8%), from €13,654 to €24,816
mainly Other debts (+€150,024) and Stocks and contracts (+€80,470)
- Other debts +€150,024
up €150,024 (+12.3%), from €1.2m to €1.4m
- Current portion of long-term debt -€81,545
down €81,545 (-57.0%), from €143,010 to €61,466
- Debts after one year -€61,466
down €61,466 (-100%), from €61,466 to €0
- Trade debts -€10,107
down €10,107 (-3.2%), from €320,785 to €310,678
- Other operating charges -€27,568
down €27,568 (-21.3%), from €129,693 to €102,125
- Gross operating margin +€22,534
up €22,534 (+4.2%), from €538,071 to €560,605
- Staff costs +€17,248
up €17,248 (+4.7%), from €365,915 to €383,163
- Financial charges -€13,719
down €13,719 (-15.4%), from €88,918 to €75,200
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 | €598,133 | €596,502 | -€1,631 | -0.3% |
| Fixed assets | 21/28 | €3,927 | €0 | -€3,927 | -100% |
| Tangible fixed assets | 22/27 | €3,927 | €0 | -€3,927 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,775 | €0 | -€1,775 | -100% |
| Other tangible fixed assets | 26 | €2,152 | €0 | -€2,152 | -100% |
| Current assets | 29/58 | €594,206 | €596,502 | +€2,296 | +0.4% |
| Stocks and contracts in progress | 3 | €277,719 | €197,249 | -€80,470 | -29.0% |
| Stocks | 30/36 | €277,719 | €197,249 | -€80,470 | -29.0% |
| Amounts receivable within one year | 40/41 | €284,610 | €351,160 | +€66,550 | +23.4% |
| Trade receivables | 40 | €284,346 | €350,666 | +€66,320 | +23.3% |
| Other amounts receivable | 41 | €264 | €494 | +€230 | +87.3% |
| Cash at bank and in hand | 54/58 | €13,654 | €24,816 | +€11,163 | +81.8% |
| Deferred charges and accrued income | 490/1 | €18,224 | €23,277 | +€5,053 | +27.7% |
| Total equity and liabilities | 10/49 | €598,133 | €596,502 | -€1,631 | -0.3% |
| Equity | 10/15 | -€1,189,699 | -€1,189,389 | +€310 | 0.0% |
| Contributions | 10/11 | €1,171,973 | €1,171,973 | = | 0.0% |
| Capital | 10 | €1,171,973 | €1,171,973 | = | 0.0% |
| Issued capital | 100 | €1,171,973 | €1,171,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,367,869 | -€2,367,560 | +€310 | 0.0% |
| Amounts payable | 17/49 | €1,787,831 | €1,785,890 | -€1,941 | -0.1% |
| Amounts payable after more than one year | 17 | €61,466 | €0 | -€61,466 | -100% |
| Financial debts | 170/4 | €61,466 | €0 | -€61,466 | -100% |
| Amounts payable within one year | 42/48 | €1,726,366 | €1,785,890 | +€59,525 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €143,010 | €61,466 | -€81,545 | -57.0% |
| Financial debts | 43 | €2,063 | €2,722 | +€659 | +31.9% |
| Credit institutions | 430/8 | €2,063 | €2,722 | +€659 | +31.9% |
| Trade debts | 44 | €320,785 | €310,678 | -€10,107 | -3.2% |
| Suppliers | 440/4 | €320,785 | €310,678 | -€10,107 | -3.2% |
| Taxes, remuneration and social security | 45 | €43,321 | €43,813 | +€493 | +1.1% |
| Taxes | 450/3 | €0 | €282 | +€282 | |
| Remuneration and social security | 454/9 | €43,321 | €43,532 | +€211 | +0.5% |
| Other amounts payable | 47/48 | €1,217,187 | €1,367,211 | +€150,024 | +12.3% |
| Non-recurring operating income | 76A | - | €26,073 | +€26,073 | |
| Remuneration, social security and pensions | 62 | €365,915 | €383,163 | +€17,248 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,495 | €0 | -€1,495 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €129,693 | €102,125 | -€27,568 | -21.3% |
| Gross operating margin | 9900 | €538,071 | €560,605 | +€22,534 | +4.2% |
| Operating profit (loss) | 9901 | €40,968 | €75,317 | +€34,350 | +83.8% |
| Financial income | 75/76B | €691 | €74 | -€617 | -89.3% |
| Recurring financial income | 75 | €691 | €74 | -€617 | -89.3% |
| Financial charges | 65/66B | €88,918 | €75,200 | -€13,719 | -15.4% |
| Recurring financial charges | 65 | €88,918 | €75,200 | -€13,719 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€47,259 | €192 | +€47,451 | |
| Income taxes | 67/77 | €400 | -€118 | -€518 | |
| Profit (loss) for the period | 9904 | -€47,659 | €310 | +€47,969 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,659 | €310 | +€47,969 |
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 19 October 2026 via checked.be.