COADEL: 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.
COADEL
Largest movements
- Tangible fixed assets -€15,270
down €15,270 (-15.3%), from €99,919 to €84,649
of which Furniture and vehicles: -€7,778
- Receivables within one year +€9,942
up €9,942 (+13.1%), from €76,092 to €86,034
of which Trade receivables: +€6,900
- Cash +€3,047
up €3,047 (+23.2%), from €13,121 to €16,168
mainly Depreciation (+€15,270) and Net result for the year (+€10,744)
- Reserves +€10,744
up €10,744 (+9.2%), from €117,405 to €128,149
of which Distributable reserves: +€12,020
- Debts after one year -€8,153
down €8,153 (-100.0%), from €8,153 to €0
- Current portion of long-term debt -€7,426
down €7,426 (-47.7%), from €15,579 to €8,153
- Trade debts +€6,506
up €6,506 (+53.9%), from €12,079 to €18,586
- Tax, wage and social debts -€4,462
down €4,462 (-25.7%), from €17,349 to €12,887
- Gross operating margin -€5,342
down €5,342 (-14.9%), from €35,889 to €30,547
- Financial income +€1,420
up €1,420 (+57.9%), from €2,452 to €3,872
- Depreciation +€1,132
up €1,132 (+8.0%), from €14,138 to €15,270
- Taxes -€960
down €960 (-14.3%), from €6,707 to €5,747
- Financial charges -€704
down €704 (-37.2%), from €1,893 to €1,189
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 | €191,005 | €187,756 | -€3,249 | -1.7% |
| Fixed assets | 21/28 | €99,959 | €84,689 | -€15,270 | -15.3% |
| Tangible fixed assets | 22/27 | €99,919 | €84,649 | -€15,270 | -15.3% |
| Land and buildings | 22 | €63,095 | €56,689 | -€6,406 | -10.2% |
| Plant, machinery and equipment | 23 | €3,914 | €2,829 | -€1,086 | -27.7% |
| Furniture and vehicles | 24 | €32,910 | €25,132 | -€7,778 | -23.6% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €91,045 | €103,067 | +€12,022 | +13.2% |
| Amounts receivable within one year | 40/41 | €76,092 | €86,034 | +€9,942 | +13.1% |
| Trade receivables | 40 | €0 | €6,900 | +€6,900 | |
| Other amounts receivable | 41 | €76,092 | €79,134 | +€3,042 | +4.0% |
| Cash at bank and in hand | 54/58 | €13,121 | €16,168 | +€3,047 | +23.2% |
| Deferred charges and accrued income | 490/1 | €1,833 | €865 | -€968 | -52.8% |
| Total equity and liabilities | 10/49 | €191,005 | €187,756 | -€3,249 | -1.7% |
| Equity | 10/15 | €136,005 | €146,749 | +€10,744 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,405 | €128,149 | +€10,744 | +9.2% |
| Tax-exempt reserves | 132 | €4,763 | €3,488 | -€1,276 | -26.8% |
| Distributable reserves | 133 | €112,641 | €124,661 | +€12,020 | +10.7% |
| Provisions and deferred taxes | 16 | €1,588 | €1,163 | -€425 | -26.8% |
| Deferred taxes | 168 | €1,588 | €1,163 | -€425 | -26.8% |
| Amounts payable | 17/49 | €53,412 | €39,845 | -€13,568 | -25.4% |
| Amounts payable after more than one year | 17 | €8,153 | €0 | -€8,153 | -100.0% |
| Financial debts | 170/4 | €8,153 | €0 | -€8,153 | -100.0% |
| Amounts payable within one year | 42/48 | €45,259 | €39,845 | -€5,414 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €15,579 | €8,153 | -€7,426 | -47.7% |
| Financial debts | 43 | €252 | €219 | -€33 | -13.2% |
| Credit institutions | 430/8 | €252 | €219 | -€33 | -13.2% |
| Trade debts | 44 | €12,079 | €18,586 | +€6,506 | +53.9% |
| Suppliers | 440/4 | €12,079 | €18,586 | +€6,506 | +53.9% |
| Taxes, remuneration and social security | 45 | €17,349 | €12,887 | -€4,462 | -25.7% |
| Taxes | 450/3 | €17,349 | €12,887 | -€4,462 | -25.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,138 | €15,270 | +€1,132 | +8.0% |
| Other operating charges | 640/8 | €1,454 | €1,894 | +€440 | +30.3% |
| Gross operating margin | 9900 | €35,889 | €30,547 | -€5,342 | -14.9% |
| Operating profit (loss) | 9901 | €20,297 | €13,383 | -€6,914 | -34.1% |
| Financial income | 75/76B | €2,452 | €3,872 | +€1,420 | +57.9% |
| Recurring financial income | 75 | €2,452 | €3,872 | +€1,420 | +57.9% |
| Financial charges | 65/66B | €1,893 | €1,189 | -€704 | -37.2% |
| Recurring financial charges | 65 | €1,893 | €1,189 | -€704 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €20,856 | €16,066 | -€4,790 | -23.0% |
| Transfer from deferred taxes | 780 | €425 | €425 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €6,707 | €5,747 | -€960 | -14.3% |
| Profit (loss) for the period | 9904 | €14,575 | €10,744 | -€3,830 | -26.3% |
| Transfer from tax-exempt reserves | 789 | €1,276 | €1,276 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €15,850 | €12,020 | -€3,830 | -24.2% |
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.