COATEQ: 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.
COATEQ
Largest movements
- Stocks and contracts +€1.8m
up €1.8m (+132%), from €1.4m to €3.2m
of which Contracts in progress: +€1.8m
- Cash -€891,688
down €891,688 (-98.8%), from €902,090 to €10,402
mainly Stocks and contracts (-€1.8m) and Receivables within one year (-€263,259)
- Receivables within one year +€263,259
up €263,259 (+38.9%), from €676,806 to €940,066
of which Trade receivables: +€270,450
- Advances received +€920,762
up €920,762 (+37.7%), from €2.4m to €3.4m
- Other debts +€261,835
up €261,835, from €0 to €261,835
- Debts after one year -€48,264
down €48,264 (-100%), from €48,264 to €0
- Taxes -€6,529
down €6,529 (-87.7%), from €7,443 to €914
- Gross operating margin -€4,252
down €4,252 (-4.7%), from €90,662 to €86,411
- Write-downs -€4,176
down €4,176 (-2,168%), from -€193 to -€4,369
- Financial income -€3,001
down €3,001 (-99.9%), from €3,003 to €2
- Staff costs +€2,337
up €2,337 (+3.4%), from €68,894 to €71,230
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,025,655 | €4,186,149 | +€1.2m | +38.4% |
| Fixed assets | 21/28 | €27,866 | €16,748 | -€11,118 | -39.9% |
| Tangible fixed assets | 22/27 | €27,866 | €16,748 | -€11,118 | -39.9% |
| Plant, machinery and equipment | 23 | €2,075 | €939 | -€1,136 | -54.7% |
| Furniture and vehicles | 24 | €25,791 | €15,809 | -€9,982 | -38.7% |
| Current assets | 29/58 | €2,997,789 | €4,169,401 | +€1.2m | +39.1% |
| Stocks and contracts in progress | 3 | €1,387,633 | €3,218,933 | +€1.8m | +132% |
| Stocks | 30/36 | €116,832 | €196,052 | +€79,220 | +67.8% |
| Contracts in progress | 37 | €1,270,800 | €3,022,881 | +€1.8m | +138% |
| Amounts receivable within one year | 40/41 | €676,806 | €940,066 | +€263,259 | +38.9% |
| Trade receivables | 40 | €669,495 | €939,945 | +€270,450 | +40.4% |
| Other amounts receivable | 41 | €7,312 | €121 | -€7,191 | -98.3% |
| Cash at bank and in hand | 54/58 | €902,090 | €10,402 | -€891,688 | -98.8% |
| Deferred charges and accrued income | 490/1 | €31,260 | €0 | -€31,260 | -100% |
| Total equity and liabilities | 10/49 | €3,025,655 | €4,186,149 | +€1.2m | +38.4% |
| Equity | 10/15 | €178,281 | €179,108 | +€827 | +0.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €158,281 | €159,108 | +€827 | +0.5% |
| Distributable reserves | 133 | €158,281 | €159,108 | +€827 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,847,373 | €4,007,041 | +€1.2m | +40.7% |
| Amounts payable after more than one year | 17 | €48,264 | €0 | -€48,264 | -100% |
| Financial debts | 170/4 | €48,264 | €0 | -€48,264 | -100% |
| Amounts payable within one year | 42/48 | €2,799,109 | €4,007,041 | +€1.2m | +43.2% |
| Trade debts | 44 | €348,684 | €358,012 | +€9,327 | +2.7% |
| Suppliers | 440/4 | €348,684 | €358,012 | +€9,327 | +2.7% |
| Advances received on contracts in progress | 46 | €2,441,000 | €3,361,762 | +€920,762 | +37.7% |
| Taxes, remuneration and social security | 45 | €9,425 | €25,432 | +€16,007 | +170% |
| Taxes | 450/3 | €2,088 | €13,456 | +€11,368 | +545% |
| Remuneration and social security | 454/9 | €7,337 | €11,976 | +€4,639 | +63.2% |
| Other amounts payable | 47/48 | €0 | €261,835 | +€261,835 | |
| Remuneration, social security and pensions | 62 | €68,894 | €71,230 | +€2,337 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,403 | €12,187 | -€1,216 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€193 | -€4,369 | -€4,176 | -2,168% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,377 | €998 | -€1,378 | -58.0% |
| Gross operating margin | 9900 | €90,662 | €86,411 | -€4,252 | -4.7% |
| Operating profit (loss) | 9901 | €6,181 | €6,363 | +€182 | +2.9% |
| Financial income | 75/76B | €3,003 | €2 | -€3,001 | -99.9% |
| Recurring financial income | 75 | €3,003 | €2 | -€3,001 | -99.9% |
| Financial charges | 65/66B | €3,070 | €4,625 | +€1,555 | +50.6% |
| Recurring financial charges | 65 | €3,070 | €4,625 | +€1,555 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | €6,114 | €1,740 | -€4,374 | -71.5% |
| Income taxes | 67/77 | €7,443 | €914 | -€6,529 | -87.7% |
| Profit (loss) for the period | 9904 | -€1,328 | €827 | +€2,155 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,328 | €827 | +€2,155 |
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.