COELENBERG: 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.
COELENBERG
Largest movements
- Cash -€575,277
down €575,277 (-77.7%), from €740,497 to €165,220
mainly Debts after one year (-€681,169) and Investment in fixed assets (net) (-€439,253)
- Tangible fixed assets +€160,287
up €160,287 (+4.8%), from €3.3m to €3.5m
of which Plant, machinery and equipment: +€294,576
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Debts after one year -€681,169
down €681,169 (-66.0%), from €1.0m to €350,938
- Reserves +€157,934
up €157,934 (+7.8%), from €2.0m to €2.2m
of which Distributable reserves: +€161,000
- Taxes -€47,149
down €47,149 (-67.5%), from €69,840 to €22,691
- Depreciation -€36,367
down €36,367 (-11.5%), from €315,334 to €278,966
- Financial charges +€29,025
up €29,025 (+657.0%), from €4,418 to €33,442
- Financial income -€23,833
down €23,833 (-96.7%), from €24,656 to €822
- Gross operating margin -€23,592
down €23,592 (-4.2%), from €566,350 to €542,758
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 | €4,210,078 | €3,702,588 | -€507,491 | -12.1% |
| Fixed assets | 21/28 | €3,333,806 | €3,494,092 | +€160,287 | +4.8% |
| Tangible fixed assets | 22/27 | €3,333,806 | €3,494,092 | +€160,287 | +4.8% |
| Land and buildings | 22 | €2,753,274 | €2,606,929 | -€146,346 | -5.3% |
| Plant, machinery and equipment | 23 | €496,080 | €790,656 | +€294,576 | +59.4% |
| Furniture and vehicles | 24 | €84,451 | €96,507 | +€12,056 | +14.3% |
| Current assets | 29/58 | €876,273 | €208,496 | -€667,777 | -76.2% |
| Amounts receivable within one year | 40/41 | €17,281 | €28,313 | +€11,032 | +63.8% |
| Trade receivables | 40 | €14,724 | €13,505 | -€1,218 | -8.3% |
| Other amounts receivable | 41 | €2,558 | €14,808 | +€12,250 | +478.9% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €740,497 | €165,220 | -€575,277 | -77.7% |
| Deferred charges and accrued income | 490/1 | €18,494 | €14,962 | -€3,532 | -19.1% |
| Total equity and liabilities | 10/49 | €4,210,078 | €3,702,588 | -€507,491 | -12.1% |
| Equity | 10/15 | €3,038,345 | €3,196,600 | +€158,254 | +5.2% |
| Contributions | 10/11 | €1,010,791 | €1,010,791 | = | 0.0% |
| Reserves | 13 | €2,022,284 | €2,180,217 | +€157,934 | +7.8% |
| Tax-exempt reserves | 132 | €17,067 | €14,001 | -€3,066 | -18.0% |
| Distributable reserves | 133 | €2,005,216 | €2,166,216 | +€161,000 | +8.0% |
| Profit (loss) carried forward | 14 | €5,271 | €5,592 | +€321 | +6.1% |
| Provisions and deferred taxes | 16 | €8,788 | €7,209 | -€1,579 | -18.0% |
| Deferred taxes | 168 | €8,788 | €7,209 | -€1,579 | -18.0% |
| Amounts payable | 17/49 | €1,162,945 | €498,779 | -€664,166 | -57.1% |
| Amounts payable after more than one year | 17 | €1,032,107 | €350,938 | -€681,169 | -66.0% |
| Financial debts | 170/4 | €1,032,107 | €350,938 | -€681,169 | -66.0% |
| Amounts payable within one year | 42/48 | €129,845 | €118,078 | -€11,766 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €87,121 | €87,900 | +€779 | +0.9% |
| Trade debts | 44 | €31,089 | €17,489 | -€13,600 | -43.7% |
| Suppliers | 440/4 | €31,089 | €17,489 | -€13,600 | -43.7% |
| Taxes, remuneration and social security | 45 | €3,943 | €2,036 | -€1,907 | -48.4% |
| Taxes | 450/3 | €3,943 | €2,036 | -€1,907 | -48.4% |
| Other amounts payable | 47/48 | €7,691 | €10,653 | +€2,962 | +38.5% |
| Accrued charges and deferred income | 492/3 | €993 | €29,762 | +€28,769 | +2896.0% |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315,334 | €278,966 | -€36,367 | -11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,236 | +€7,236 | |
| Other operating charges | 640/8 | €40,914 | €44,463 | +€3,548 | +8.7% |
| Non-recurring operating charges | 66A | €442 | €107 | -€334 | -75.7% |
| Gross operating margin | 9900 | €566,350 | €542,758 | -€23,592 | -4.2% |
| Operating profit (loss) | 9901 | €209,661 | €211,987 | +€2,326 | +1.1% |
| Financial income | 75/76B | €24,656 | €822 | -€23,833 | -96.7% |
| Recurring financial income | 75 | €24,656 | €822 | -€23,833 | -96.7% |
| Financial charges | 65/66B | €4,418 | €33,442 | +€29,025 | +657.0% |
| Recurring financial charges | 65 | €4,418 | €33,442 | +€29,025 | +657.0% |
| Profit (loss) for the period before taxes | 9903 | €229,899 | €179,367 | -€50,532 | -22.0% |
| Transfer from deferred taxes | 780 | €1,579 | €1,579 | = | 0.0% |
| Income taxes | 67/77 | €69,840 | €22,691 | -€47,149 | -67.5% |
| Profit (loss) for the period | 9904 | €161,638 | €158,254 | -€3,383 | -2.1% |
| Transfer from tax-exempt reserves | 789 | €3,066 | €3,066 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,704 | €161,321 | -€3,383 | -2.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.