Skip to content

CO.REsults: 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.

What changed

CO.REsults

BE 0437.576.106
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €134,862+€1.5m
Equity
€2.2m
2024 · €540,278+€1.6m
Cash
€16,644
2024 · €157,978-€141,334
Balance sheet total
€2.3m
2024 · €736,976+€1.6m

Largest movements

2024 to 2025
Assets
  • Current investments +€1.5m

    new in 2025: €1.5m

  • Receivables after one year +€235,892

    new in 2025: €235,892

  • Cash -€141,334

    down €141,334 (-89.5%), from €157,978 to €16,644

    mainly Current investments (-€1.5m) and Receivables after one year (-€235,892)

  • Receivables within one year +€84,324

    up €84,324 (+240%), from €35,197 to €119,521

    of which Other amounts receivable: +€68,704

Equity and liabilities
  • Reserves +€1.6m

    up €1.6m (+656%), from €245,897 to €1.9m

    of which Distributable reserves: +€1.6m

  • Tax, wage and social debts +€145,452

    up €145,452 (+632%), from €23,017 to €168,469

  • Other debts -€135,083

    down €135,083 (-99.2%), from €136,222 to €1,139

Income statement
  • Financial income +€1.7m

    up €1.7m (+1,090%), from €154,971 to €1.8m

    of which Non-recurring financial income: +€1.8m

  • Taxes +€147,873

    up €147,873 (+1,096%), from €13,486 to €161,359

  • Gross operating margin -€67,747

    down €67,747, from €23,638 to -€44,109

  • Financial charges -€7,254

    down €7,254 (-91.5%), from €7,928 to €674

  • Other operating charges +€1,286

    up €1,286 (+76.3%), from €1,686 to €2,973

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €134,862
Gross operating margin -€67,747
Depreciation -€884
Other operating charges -€1,286
Financial income +€1.7m
Financial charges +€7,254
Taxes -€147,873
Result 2025 €1.6m
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€1.3m
Investment -€1.5m
Financing €0
Cash 2024 €157,978
Net result for the year +€1.6m
Depreciation +€21,531
Receivables after one year -€235,892
Stocks and contracts +€22,050
Receivables within one year -€84,324
Smaller working-capital items +€990
Trade debts -€16,233
Tax, wage and social debts +€145,452
Other debts -€135,083
Investment in fixed assets (net) -€13,849
Current investments -€1.5m
Cash 2025 €16,644
brings cash intakes cash out
Every line side by side 50 lines
Line Code 2024 2025 Change %
Total assets 20/58 €736,976 €2,344,005 +€1.6m +218%
Fixed assets 21/28 €510,107 €502,425 -€7,682 -1.5%
Tangible fixed assets 22/27 €218,607 €233,425 +€14,818 +6.8%
Land and buildings 22 €194,490 €214,532 +€20,042 +10.3%
Plant, machinery and equipment 23 €19,322 €14,368 -€4,954 -25.6%
Furniture and vehicles 24 €4,795 €4,525 -€270 -5.6%
Financial fixed assets 28 €291,500 €269,000 -€22,500 -7.7%
Current assets 29/58 €226,869 €1,841,580 +€1.6m +712%
Amounts receivable after more than one year 29 - €235,892 +€235,892
Other amounts receivable 291 - €235,892 +€235,892
Stocks and contracts in progress 3 €26,550 €4,500 -€22,050 -83.1%
Contracts in progress 37 €26,550 €4,500 -€22,050 -83.1%
Amounts receivable within one year 40/41 €35,197 €119,521 +€84,324 +240%
Trade receivables 40 €33,901 €49,521 +€15,620 +46.1%
Other amounts receivable 41 €1,296 €70,000 +€68,704 +5,303%
Current investments 50/53 - €1,459,568 +€1.5m
Cash at bank and in hand 54/58 €157,978 €16,644 -€141,334 -89.5%
Deferred charges and accrued income 490/1 €7,145 €5,456 -€1,689 -23.6%
Total equity and liabilities 10/49 €736,976 €2,344,005 +€1.6m +218%
Equity 10/15 €540,278 €2,153,871 +€1.6m +299%
Contributions 10/11 €75,000 €75,000 = 0.0%
Capital 10 €75,000 €75,000 = 0.0%
Issued capital 100 €75,000 €75,000 = 0.0%
Reserves 13 €245,897 €1,859,489 +€1.6m +656%
Non-distributable reserves 130/1 €12,500 €12,500 = 0.0%
Legal reserve 130 €12,500 €12,500 = 0.0%
Tax-exempt reserves 132 €21,491 €21,491 = 0.0%
Distributable reserves 133 €211,906 €1,825,499 +€1.6m +761%
Profit (loss) carried forward 14 €219,381 €219,381 = 0.0%
Amounts payable 17/49 €196,698 €190,135 -€6,563 -3.3%
Amounts payable within one year 42/48 €196,000 €190,135 -€5,865 -3.0%
Trade debts 44 €36,760 €20,527 -€16,233 -44.2%
Suppliers 440/4 €36,760 €20,527 -€16,233 -44.2%
Taxes, remuneration and social security 45 €23,017 €168,469 +€145,452 +632%
Taxes 450/3 €23,017 €168,469 +€145,452 +632%
Other amounts payable 47/48 €136,222 €1,139 -€135,083 -99.2%
Accrued charges and deferred income 492/3 €699 €0 -€699 -100%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €20,647 €21,531 +€884 +4.3%
Other operating charges 640/8 €1,686 €2,973 +€1,286 +76.3%
Gross operating margin 9900 €23,638 -€44,109 -€67,747
Operating profit (loss) 9901 €1,304 -€68,613 -€69,917
Financial income 75/76B €154,971 €1,844,239 +€1.7m +1,090%
Recurring financial income 75 €154,971 €33,717 -€121,254 -78.2%
Non-recurring financial income 76B - €1,810,522 +€1.8m
Financial charges 65/66B €7,928 €674 -€7,254 -91.5%
Recurring financial charges 65 €7,928 €674 -€7,254 -91.5%
Profit (loss) for the period before taxes 9903 €148,348 €1,774,952 +€1.6m +1,096%
Income taxes 67/77 €13,486 €161,359 +€147,873 +1,096%
Profit (loss) for the period 9904 €134,862 €1,613,593 +€1.5m +1,096%
Profit (loss) for the period to be appropriated 9905 €134,862 €1,613,593 +€1.5m +1,096%

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 20 October 2026 via checked.be.