Co - Management: 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.
Co - Management
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+1141.7%), from €155,126 to €1.9m
of which Land and buildings: +€1.8m
- Cash +€291,349
up €291,349 (+534.1%), from €54,546 to €345,895
mainly Contributions, distributions and other (+€1.8m) and Receivables within one year (+€222,590)
- Receivables within one year -€222,590
down €222,590 (-97.4%), from €228,642 to €6,051
of which Other amounts receivable: -€218,808
- Revaluation surpluses +€1.8m
up €1.8m (+30798.7%), from €5,799 to €1.8m
- Profit (loss) carried forward +€40,931
up €40,931 (+12.9%), from €316,946 to €357,877
- Gross operating margin -€31,232
down €31,232 (-26.8%), from €116,735 to €85,503
- Taxes -€9,477
down €9,477 (-40.5%), from €23,425 to €13,949
- Other operating charges +€4,480
up €4,480 (+44.8%), from €9,995 to €14,474
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 | €441,730 | €2,278,450 | +€1.8m | +415.8% |
| Fixed assets | 21/28 | €155,498 | €1,926,504 | +€1.8m | +1138.9% |
| Tangible fixed assets | 22/27 | €155,126 | €1,926,132 | +€1.8m | +1141.7% |
| Land and buildings | 22 | €142,170 | €1,916,637 | +€1.8m | +1248.1% |
| Plant, machinery and equipment | 23 | €12,956 | €9,495 | -€3,461 | -26.7% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €286,232 | €351,946 | +€65,714 | +23.0% |
| Amounts receivable within one year | 40/41 | €228,642 | €6,051 | -€222,590 | -97.4% |
| Trade receivables | 40 | €3,782 | - | -€3,782 | |
| Other amounts receivable | 41 | €224,859 | €6,051 | -€218,808 | -97.3% |
| Cash at bank and in hand | 54/58 | €54,546 | €345,895 | +€291,349 | +534.1% |
| Deferred charges and accrued income | 490/1 | €3,045 | - | -€3,045 | |
| Total equity and liabilities | 10/49 | €441,730 | €2,278,450 | +€1.8m | +415.8% |
| Equity | 10/15 | €390,945 | €2,217,855 | +€1.8m | +467.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €5,799 | €1,791,778 | +€1.8m | +30798.7% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €316,946 | €357,877 | +€40,931 | +12.9% |
| Amounts payable | 17/49 | €50,785 | €60,595 | +€9,810 | +19.3% |
| Amounts payable after more than one year | 17 | €22,002 | €17,441 | -€4,562 | -20.7% |
| Financial debts | 170/4 | €22,002 | €17,441 | -€4,562 | -20.7% |
| Amounts payable within one year | 42/48 | €28,783 | €43,075 | +€14,292 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €4,481 | €4,562 | +€81 | +1.8% |
| Financial debts | 43 | €20,000 | €20,000 | = | 0.0% |
| Credit institutions | 430/8 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €877 | €10,028 | +€9,151 | +1043.5% |
| Suppliers | 440/4 | €877 | €10,028 | +€9,151 | +1043.5% |
| Taxes, remuneration and social security | 45 | €3,425 | - | -€3,425 | |
| Taxes | 450/3 | €3,425 | - | -€3,425 | |
| Other amounts payable | 47/48 | - | €8,486 | +€8,486 | |
| Accrued charges and deferred income | 492/3 | - | €79 | +€79 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,973 | €14,973 | = | 0.0% |
| Other operating charges | 640/8 | €9,995 | €14,474 | +€4,480 | +44.8% |
| Gross operating margin | 9900 | €116,735 | €85,503 | -€31,232 | -26.8% |
| Operating profit (loss) | 9901 | €91,767 | €56,055 | -€35,712 | -38.9% |
| Financial charges | 65/66B | €1,399 | €1,176 | -€223 | -15.9% |
| Recurring financial charges | 65 | €1,399 | €1,176 | -€223 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €90,368 | €54,880 | -€35,489 | -39.3% |
| Income taxes | 67/77 | €23,425 | €13,949 | -€9,477 | -40.5% |
| Profit (loss) for the period | 9904 | €66,943 | €40,931 | -€26,012 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,943 | €40,931 | -€26,012 | -38.9% |
Source: filed annual accounts (NBB), fiscal 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.