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
- Receivables within one year +€47,697
up €47,697 (+180.6%), from €26,413 to €74,110
of which Other amounts receivable: +€31,384
- Cash +€16,995
up €16,995 (+154.8%), from €10,981 to €27,976
mainly Depreciation (+€50,072) and Net result for the year (+€26,594)
- Deferred charges and accrued income -€12,536
down €12,536 (-83.6%), from €15,000 to €2,464
- Tangible fixed assets -€7,518
down €7,518 (-1.8%), from €418,849 to €411,331
of which Plant, machinery and equipment: -€18,633
- Reserves +€26,594
up €26,594 (+15.9%), from €167,106 to €193,700
of which Distributable reserves: +€26,594
- Other debts -€19,183
down €19,183 (-97.8%), from €19,611 to €427
- Debts after one year +€17,874
up €17,874 (+10.9%), from €164,024 to €181,898
- Current portion of long-term debt +€17,588
up €17,588 (+56.2%), from €31,291 to €48,879
- Gross operating margin +€24,070
up €24,070 (+22.1%), from €109,020 to €133,090
- Staff costs +€22,588
up €22,588 (+137.1%), from €16,481 to €39,069
- Depreciation +€8,682
up €8,682 (+21.0%), from €41,390 to €50,072
- Taxes -€4,046
down €4,046 (-26.5%), from €15,240 to €11,194
- Financial income -€2,888
down €2,888 (-93.6%), from €3,085 to €198
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 | €475,908 | €521,306 | +€45,398 | +9.5% |
| Fixed assets | 21/28 | €418,999 | €411,481 | -€7,518 | -1.8% |
| Tangible fixed assets | 22/27 | €418,849 | €411,331 | -€7,518 | -1.8% |
| Land and buildings | 22 | €307,734 | €292,504 | -€15,230 | -4.9% |
| Plant, machinery and equipment | 23 | €86,206 | €67,573 | -€18,633 | -21.6% |
| Furniture and vehicles | 24 | €24,909 | €51,253 | +€26,344 | +105.8% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €56,909 | €109,826 | +€52,916 | +93.0% |
| Stocks and contracts in progress | 3 | €4,515 | €5,276 | +€761 | +16.8% |
| Stocks | 30/36 | €4,515 | €5,276 | +€761 | +16.8% |
| Amounts receivable within one year | 40/41 | €26,413 | €74,110 | +€47,697 | +180.6% |
| Trade receivables | 40 | €22,979 | €39,292 | +€16,313 | +71.0% |
| Other amounts receivable | 41 | €3,434 | €34,818 | +€31,384 | +914.0% |
| Cash at bank and in hand | 54/58 | €10,981 | €27,976 | +€16,995 | +154.8% |
| Deferred charges and accrued income | 490/1 | €15,000 | €2,464 | -€12,536 | -83.6% |
| Total equity and liabilities | 10/49 | €475,908 | €521,306 | +€45,398 | +9.5% |
| Equity | 10/15 | €209,367 | €234,050 | +€24,683 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,106 | €193,700 | +€26,594 | +15.9% |
| Non-distributable reserves | 130/1 | €1,195 | €1,195 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,195 | €1,195 | = | 0.0% |
| Distributable reserves | 133 | €165,911 | €192,505 | +€26,594 | +16.0% |
| Investment grants | 15 | €23,661 | €21,750 | -€1,910 | -8.1% |
| Amounts payable | 17/49 | €266,542 | €287,256 | +€20,714 | +7.8% |
| Amounts payable after more than one year | 17 | €164,024 | €181,898 | +€17,874 | +10.9% |
| Financial debts | 170/4 | €164,024 | €181,898 | +€17,874 | +10.9% |
| Amounts payable within one year | 42/48 | €102,518 | €105,359 | +€2,841 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €31,291 | €48,879 | +€17,588 | +56.2% |
| Trade debts | 44 | €36,378 | €40,814 | +€4,436 | +12.2% |
| Suppliers | 440/4 | €36,378 | €40,814 | +€4,436 | +12.2% |
| Taxes, remuneration and social security | 45 | €15,239 | €15,239 | = | 0.0% |
| Taxes | 450/3 | €15,239 | €15,239 | = | 0.0% |
| Other amounts payable | 47/48 | €19,611 | €427 | -€19,183 | -97.8% |
| Remuneration, social security and pensions | 62 | €16,481 | €39,069 | +€22,588 | +137.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,390 | €50,072 | +€8,682 | +21.0% |
| Other operating charges | 640/8 | €666 | €649 | -€18 | -2.7% |
| Gross operating margin | 9900 | €109,020 | €133,090 | +€24,070 | +22.1% |
| Operating profit (loss) | 9901 | €50,482 | €43,300 | -€7,182 | -14.2% |
| Financial income | 75/76B | €3,085 | €198 | -€2,888 | -93.6% |
| Recurring financial income | 75 | €3,085 | €198 | -€2,888 | -93.6% |
| Financial charges | 65/66B | €5,453 | €5,711 | +€257 | +4.7% |
| Recurring financial charges | 65 | €5,453 | €5,711 | +€257 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €48,114 | €37,787 | -€10,327 | -21.5% |
| Income taxes | 67/77 | €15,240 | €11,194 | -€4,046 | -26.5% |
| Profit (loss) for the period | 9904 | €32,875 | €26,594 | -€6,281 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,875 | €26,594 | -€6,281 | -19.1% |
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 9 October 2026 via checked.be.