CO-CREATE: 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-CREATE
Largest movements
- Financial fixed assets -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets +€134,421
up €134,421 (+1,319%), from €10,195 to €144,616
of which Furniture and vehicles: +€134,668
- Cash +€100,373
up €100,373 (+1,914%), from €5,245 to €105,618
mainly Net result for the year (+€120,259) and Other debts (+€81,506)
- Receivables within one year +€12,480
up €12,480 (+30.4%), from €41,039 to €53,519
of which Trade receivables: +€9,361
- Other debts +€81,506
up €81,506 (+205%), from €39,803 to €121,309
- Current portion of long-term debt +€24,708
new in 2025: €24,708
- Debts after one year -€4,489
down €4,489 (-3.1%), from €143,689 to €139,199
of which Other amounts payable: -€103,714
- Financial income +€136,019
new in 2025: €136,019
- Taxes +€28,655
up €28,655 (+307%), from €9,342 to €37,997
- Depreciation +€8,945
up €8,945 (+102%), from €8,733 to €17,678
- Gross operating margin +€1,357
up €1,357 (+3.0%), from €45,442 to €46,799
- Other operating charges +€716
up €716 (+63.9%), from €1,121 to €1,837
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 | €208,797 | €307,696 | +€98,898 | +47.4% |
| Fixed assets | 21/28 | €160,195 | €144,616 | -€15,579 | -9.7% |
| Tangible fixed assets | 22/27 | €10,195 | €144,616 | +€134,421 | +1,319% |
| Plant, machinery and equipment | 23 | €462 | €215 | -€247 | -53.4% |
| Furniture and vehicles | 24 | €9,733 | €144,401 | +€134,668 | +1,384% |
| Financial fixed assets | 28 | €150,000 | - | -€150,000 | |
| Current assets | 29/58 | €48,602 | €163,080 | +€114,477 | +236% |
| Amounts receivable within one year | 40/41 | €41,039 | €53,519 | +€12,480 | +30.4% |
| Trade receivables | 40 | €40,792 | €50,153 | +€9,361 | +22.9% |
| Other amounts receivable | 41 | €247 | €3,366 | +€3,119 | +1,263% |
| Cash at bank and in hand | 54/58 | €5,245 | €105,618 | +€100,373 | +1,914% |
| Deferred charges and accrued income | 490/1 | €2,318 | €3,942 | +€1,624 | +70.1% |
| Total equity and liabilities | 10/49 | €208,797 | €307,696 | +€98,898 | +47.4% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €190,197 | €289,096 | +€98,898 | +52.0% |
| Amounts payable after more than one year | 17 | €143,689 | €139,199 | -€4,489 | -3.1% |
| Financial debts | 170/4 | - | €99,225 | +€99,225 | |
| Other amounts payable | 178/9 | €143,689 | €39,974 | -€103,714 | -72.2% |
| Amounts payable within one year | 42/48 | €45,465 | €148,975 | +€103,510 | +228% |
| Current portion of amounts payable after more than one year | 42 | - | €24,708 | +€24,708 | |
| Trade debts | 44 | €1,172 | €312 | -€860 | -73.4% |
| Suppliers | 440/4 | €1,172 | €312 | -€860 | -73.4% |
| Taxes, remuneration and social security | 45 | €4,489 | €2,645 | -€1,844 | -41.1% |
| Taxes | 450/3 | €4,489 | €2,645 | -€1,844 | -41.1% |
| Other amounts payable | 47/48 | €39,803 | €121,309 | +€81,506 | +205% |
| Accrued charges and deferred income | 492/3 | €1,044 | €922 | -€122 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,733 | €17,678 | +€8,945 | +102% |
| Other operating charges | 640/8 | €1,121 | €1,837 | +€716 | +63.9% |
| Gross operating margin | 9900 | €45,442 | €46,799 | +€1,357 | +3.0% |
| Operating profit (loss) | 9901 | €35,588 | €27,283 | -€8,305 | -23.3% |
| Financial income | 75/76B | - | €136,019 | +€136,019 | |
| Recurring financial income | 75 | - | €136,019 | +€136,019 | |
| Financial charges | 65/66B | €5,044 | €5,046 | +€2 | 0.0% |
| Recurring financial charges | 65 | €5,044 | €5,046 | +€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €30,545 | €158,257 | +€127,712 | +418% |
| Income taxes | 67/77 | €9,342 | €37,997 | +€28,655 | +307% |
| Profit (loss) for the period | 9904 | €21,203 | €120,259 | +€99,056 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €21,203 | €120,259 | +€99,056 | +467% |
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 15 October 2026 via checked.be.