COAR: 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.
COAR
Largest movements
- Deferred charges and accrued income -€2,966
down €2,966 (-81.3%), from €3,647 to €680
- Receivables within one year -€1,048
down €1,048 (-7.7%), from €13,521 to €12,473
of which Trade receivables: -€4,559
- Formation expenses -€600
no longer reported in 2025 (was €600)
- Tangible fixed assets +€450
new in 2025: €450
- Other debts -€3,286
down €3,286 (-16.3%), from €20,115 to €16,830
- Tax, wage and social debts -€1,242
down €1,242 (-25.3%), from €4,903 to €3,661
- Profit (loss) carried forward -€816
down €816 (-4.1%), from -€20,007 to -€20,824
- Trade debts +€790
up €790 (+26.5%), from €2,977 to €3,767
- Accrued charges and deferred income +€225
up €225 (+20.0%), from €1,125 to €1,350
- Gross operating margin -€5,479
down €5,479 (-69.4%), from €7,889 to €2,411
- Other operating charges -€272
down €272 (-9.2%), from €2,972 to €2,699
- Depreciation +€150
new in 2025: €150
- Financial charges +€125
up €125 (+140%), from €90 to €215
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 | €17,973 | €13,644 | -€4,329 | -24.1% |
| Formation expenses | 20 | €600 | - | -€600 | |
| Fixed assets | 21/28 | - | €450 | +€450 | |
| Tangible fixed assets | 22/27 | - | €450 | +€450 | |
| Plant, machinery and equipment | 23 | - | €450 | +€450 | |
| Current assets | 29/58 | €17,373 | €13,194 | -€4,179 | -24.1% |
| Amounts receivable within one year | 40/41 | €13,521 | €12,473 | -€1,048 | -7.7% |
| Trade receivables | 40 | €13,521 | €8,962 | -€4,559 | -33.7% |
| Other amounts receivable | 41 | - | €3,511 | +€3,511 | |
| Cash at bank and in hand | 54/58 | €205 | €40 | -€165 | -80.5% |
| Deferred charges and accrued income | 490/1 | €3,647 | €680 | -€2,966 | -81.3% |
| Total equity and liabilities | 10/49 | €17,973 | €13,644 | -€4,329 | -24.1% |
| Equity | 10/15 | -€11,147 | -€11,964 | -€816 | -7.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Capital | 10 | €7,000 | €7,000 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €11,600 | €11,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,007 | -€20,824 | -€816 | -4.1% |
| Amounts payable | 17/49 | €29,120 | €25,608 | -€3,513 | -12.1% |
| Amounts payable within one year | 42/48 | €27,995 | €24,258 | -€3,738 | -13.4% |
| Trade debts | 44 | €2,977 | €3,767 | +€790 | +26.5% |
| Suppliers | 440/4 | €2,977 | €3,767 | +€790 | +26.5% |
| Taxes, remuneration and social security | 45 | €4,903 | €3,661 | -€1,242 | -25.3% |
| Taxes | 450/3 | €4,903 | €3,661 | -€1,242 | -25.3% |
| Other amounts payable | 47/48 | €20,115 | €16,830 | -€3,286 | -16.3% |
| Accrued charges and deferred income | 492/3 | €1,125 | €1,350 | +€225 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €150 | +€150 | |
| Other operating charges | 640/8 | €2,972 | €2,699 | -€272 | -9.2% |
| Gross operating margin | 9900 | €7,889 | €2,411 | -€5,479 | -69.4% |
| Operating profit (loss) | 9901 | €4,917 | -€439 | -€5,356 | |
| Financial charges | 65/66B | €90 | €215 | +€125 | +140% |
| Recurring financial charges | 65 | €90 | €215 | +€125 | +140% |
| Profit (loss) for the period before taxes | 9903 | €4,828 | -€654 | -€5,482 | |
| Income taxes | 67/77 | €161 | €162 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | €4,667 | -€816 | -€5,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,667 | -€816 | -€5,483 |
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 24 October 2026 via checked.be.