Coeck: 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.
What changed
Coeck
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €2.6m+€425,489
Equity
€46.0m
2024 · €43.0m+€3.0m
Cash
€6.1m
2024 · €3.5m+€2.6m
Balance sheet total
€62.8m
2024 · €60.4m+€2.4m
Largest movements
Assets
- Cash +€2.6m
up €2.6m (+74.6%), from €3.5m to €6.1m
mainly Net result for the year (+€3.0m) and Depreciation (+€2.8m)
Equity and liabilities
- Reserves +€3.0m
up €3.0m (+7.0%), from €42.5m to €45.5m
of which Distributable reserves: +€3.4m
- Trade debts -€841,816
down €841,816 (-6.7%), from €12.5m to €11.6m
Income statement
- Turnover +€12.0m
up €12.0m (+9.9%), from €121.3m to €133.2m
- Goods and materials +€8.4m
up €8.4m (+9.1%), from €92.0m to €100.4m
of which Purchases: +€8.0m
- Services and other goods +€1.9m
up €1.9m (+14.3%), from €13.3m to €15.2m
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.
Result 2024
€2.6m
Turnover
+€12.0m
Other operating income
+€359,435
Goods and materials
-€8.4m
Services and other goods
-€1.9m
Staff costs
-€1.2m
Depreciation
-€150,073
Write-downs
-€9,797
Provisions
+€15,000
Other operating charges
-€11,867
Other operating items
-€15,044
Financial income
+€3,588
Financial charges
-€33,206
Taxes
-€144,476
Result 2025
€3.0m
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.
From operations
+€4.8m
Investment
-€2.2m
Financing
€0
Cash 2024
€3.5m
From operations (derived)
+€4.8m
Net result for the year
+€3.0m
Depreciation
+€2.8m
Stocks and contracts
-€126,910
Receivables within one year
-€236,420
Smaller working-capital items
-€3,410
Provisions
-€172,321
Trade debts
-€841,816
Tax, wage and social debts
+€468,215
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Cash 2025
€6.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,387,244 | €62,825,613 | +€2.4m | +4.0% |
| Fixed assets | 21/28 | €18,987,539 | €18,462,083 | -€525,456 | -2.8% |
| Intangible fixed assets | 21 | €1,373,568 | €977,902 | -€395,666 | -28.8% |
| Tangible fixed assets | 22/27 | €10,104,044 | €9,974,254 | -€129,790 | -1.3% |
| Land and buildings | 22 | €1,074,604 | €1,078,619 | +€4,015 | +0.4% |
| Plant, machinery and equipment | 23 | €6,713,236 | €6,677,018 | -€36,218 | -0.5% |
| Furniture and vehicles | 24 | €2,316,204 | €2,218,617 | -€97,587 | -4.2% |
| Financial fixed assets | 28 | €7,509,927 | €7,509,927 | = | 0.0% |
| Affiliated companies | 280/1 | €7,500,000 | €7,500,000 | = | 0.0% |
| Amounts receivable | 281 | €7,500,000 | €7,500,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,927 | €9,927 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,927 | €9,927 | = | 0.0% |
| Current assets | 29/58 | €41,399,705 | €44,363,531 | +€3.0m | +7.2% |
| Stocks and contracts in progress | 3 | €13,279,821 | €13,406,731 | +€126,910 | +1.0% |
| Stocks | 30/36 | €13,279,821 | €13,406,731 | +€126,910 | +1.0% |
| Raw materials and consumables | 30/31 | €4,000 | €4,000 | = | 0.0% |
| Goods purchased for resale | 34 | €13,275,821 | €13,402,731 | +€126,910 | +1.0% |
| Amounts receivable within one year | 40/41 | €24,555,396 | €24,791,816 | +€236,420 | +1.0% |
| Trade receivables | 40 | €23,137,930 | €23,329,540 | +€191,610 | +0.8% |
| Other amounts receivable | 41 | €1,417,466 | €1,462,276 | +€44,810 | +3.2% |
| Cash at bank and in hand | 54/58 | €3,485,432 | €6,083,837 | +€2.6m | +74.6% |
| Deferred charges and accrued income | 490/1 | €79,056 | €81,146 | +€2,090 | +2.6% |
| Total equity and liabilities | 10/49 | €60,387,244 | €62,825,613 | +€2.4m | +4.0% |
| Equity | 10/15 | €43,028,771 | €46,014,383 | +€3.0m | +6.9% |
| Contributions | 10/11 | €563,788 | €563,788 | = | 0.0% |
| Capital | 10 | €247,600 | €247,600 | = | 0.0% |
| Issued capital | 100 | €247,600 | €247,600 | = | 0.0% |
| Outside capital | 11 | €316,188 | €316,188 | = | 0.0% |
| Share premium | 1100/10 | €316,188 | €316,188 | = | 0.0% |
| Reserves | 13 | €42,464,983 | €45,450,595 | +€3.0m | +7.0% |
| Non-distributable reserves | 130/1 | €24,760 | €24,760 | = | 0.0% |
| Legal reserve | 130 | €24,760 | €24,760 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,976,952 | €3,603,689 | -€373,264 | -9.4% |
| Distributable reserves | 133 | €38,463,270 | €41,822,146 | +€3.4m | +8.7% |
| Provisions and deferred taxes | 16 | €1,360,781 | €1,188,460 | -€172,321 | -12.7% |
| Provisions for liabilities and charges | 160/5 | €1,075,000 | €985,000 | -€90,000 | -8.4% |
| Other liabilities and charges | 164/5 | €1,075,000 | €985,000 | -€90,000 | -8.4% |
| Deferred taxes | 168 | €285,781 | €203,460 | -€82,321 | -28.8% |
| Amounts payable | 17/49 | €15,997,692 | €15,622,771 | -€374,922 | -2.3% |
| Amounts payable within one year | 42/48 | €15,997,692 | €15,622,771 | -€374,922 | -2.3% |
| Trade debts | 44 | €12,479,748 | €11,637,932 | -€841,816 | -6.7% |
| Suppliers | 440/4 | €12,479,748 | €11,637,932 | -€841,816 | -6.7% |
| Taxes, remuneration and social security | 45 | €3,159,624 | €3,627,839 | +€468,215 | +14.8% |
| Taxes | 450/3 | €1,651,710 | €1,766,577 | +€114,867 | +7.0% |
| Remuneration and social security | 454/9 | €1,507,913 | €1,861,262 | +€353,348 | +23.4% |
| Other amounts payable | 47/48 | €358,320 | €357,000 | -€1,320 | -0.4% |
| Operating income | 70/76A | €123,104,650 | €135,414,186 | +€12.3m | +10.0% |
| Turnover | 70 | €121,258,749 | €133,226,760 | +€12.0m | +9.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | - | = | |
| Other operating income | 74 | €1,824,794 | €2,184,230 | +€359,435 | +19.7% |
| Non-recurring operating income | 76A | €21,107 | €3,196 | -€17,911 | -84.9% |
| Operating charges | 60/66A | €117,905,496 | €129,615,448 | +€11.7m | +9.9% |
| Goods for resale, raw materials and consumables | 60 | €92,029,054 | €100,441,126 | +€8.4m | +9.1% |
| Purchases | 600/8 | €92,579,098 | €100,568,036 | +€8.0m | +8.6% |
| Change in stocks: decrease (increase) | 609 | -€550,043 | -€126,910 | +€423,133 | +76.9% |
| Services and other goods | 61 | €13,259,272 | €15,158,793 | +€1.9m | +14.3% |
| Remuneration, social security and pensions | 62 | €9,967,182 | €11,211,672 | +€1.2m | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,600,693 | €2,750,765 | +€150,073 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €9,797 | +€9,797 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€75,000 | -€90,000 | -€15,000 | -20.0% |
| Other operating charges | 640/8 | €121,428 | €133,295 | +€11,867 | +9.8% |
| Non-recurring operating charges | 66A | €2,867 | €0 | -€2,867 | -100.0% |
| Operating profit (loss) | 9901 | €5,199,154 | €5,798,738 | +€599,583 | +11.5% |
| Financial income | 75/76B | €660,741 | €664,328 | +€3,588 | +0.5% |
| Recurring financial income | 75 | €660,741 | €664,328 | +€3,588 | +0.5% |
| Income from current assets | 751 | €1,286 | €0 | -€1,286 | -100.0% |
| Other financial income | 752/9 | €659,455 | €664,328 | +€4,873 | +0.7% |
| Financial charges | 65/66B | €2,387,208 | €2,420,414 | +€33,206 | +1.4% |
| Recurring financial charges | 65 | €2,387,208 | €2,420,414 | +€33,206 | +1.4% |
| Debt charges | 650 | €74,316 | €51,064 | -€23,252 | -31.3% |
| Other financial charges | 652/9 | €2,312,893 | €2,369,350 | +€56,457 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €3,472,687 | €4,042,652 | +€569,965 | +16.4% |
| Transfer from deferred taxes | 780 | €82,321 | €82,321 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €994,885 | €1,139,361 | +€144,476 | +14.5% |
| Taxes | 670/3 | €1,002,386 | €1,139,361 | +€136,975 | +13.7% |
| Tax adjustments and reversals of tax provisions | 77 | €7,501 | €0 | -€7,501 | -100.0% |
| Profit (loss) for the period | 9904 | €2,560,123 | €2,985,612 | +€425,489 | +16.6% |
| Transfer from tax-exempt reserves | 789 | €1,122,644 | €1,371,034 | +€248,390 | +22.1% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,684,997 | €3,358,876 | +€673,879 | +25.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.