COELS CONSTRUCT: 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.
COELS CONSTRUCT
Largest movements
- Stocks and contracts +€127,167
up €127,167 (+4429.0%), from €2,871 to €130,039
of which Stocks: +€127,799
- Cash -€18,238
down €18,238 (-52.1%), from €34,988 to €16,751
mainly Stocks and contracts (-€127,167) and Tax, wage and social debts (-€6,833)
- Tangible fixed assets -€13,071
down €13,071 (-27.6%), from €47,353 to €34,282
of which Furniture and vehicles: -€11,714
- Receivables within one year -€6,613
down €6,613 (-18.7%), from €35,388 to €28,775
of which Trade receivables: -€9,430
- Debts after one year +€85,040
up €85,040 (+465.5%), from €18,270 to €103,310
- Current portion of long-term debt +€7,205
up €7,205 (+79.7%), from €9,041 to €16,246
- Reserves +€7,152
up €7,152 (+9.9%), from €72,021 to €79,173
- Tax, wage and social debts -€6,833
down €6,833 (-69.0%), from €9,909 to €3,076
of which Taxes: -€6,833
- Trade debts -€3,994
down €3,994 (-60.2%), from €6,636 to €2,641
- Gross operating margin -€25,022
down €25,022 (-47.7%), from €52,468 to €27,446
- Taxes -€4,809
down €4,809 (-66.6%), from €7,223 to €2,414
- Depreciation +€1,284
up €1,284 (+9.4%), from €13,687 to €14,971
- Financial charges +€1,178
up €1,178 (+126.1%), from €934 to €2,112
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 | €120,877 | €209,846 | +€88,969 | +73.6% |
| Fixed assets | 21/28 | €47,353 | €34,282 | -€13,071 | -27.6% |
| Tangible fixed assets | 22/27 | €47,353 | €34,282 | -€13,071 | -27.6% |
| Plant, machinery and equipment | 23 | €3,105 | €1,748 | -€1,357 | -43.7% |
| Furniture and vehicles | 24 | €44,248 | €32,534 | -€11,714 | -26.5% |
| Current assets | 29/58 | €73,524 | €175,564 | +€102,040 | +138.8% |
| Stocks and contracts in progress | 3 | €2,871 | €130,039 | +€127,167 | +4429.0% |
| Stocks | 30/36 | €2,240 | €130,039 | +€127,799 | +5705.3% |
| Contracts in progress | 37 | €631 | - | -€631 | |
| Amounts receivable within one year | 40/41 | €35,388 | €28,775 | -€6,613 | -18.7% |
| Trade receivables | 40 | €31,593 | €22,164 | -€9,430 | -29.8% |
| Other amounts receivable | 41 | €3,795 | €6,611 | +€2,816 | +74.2% |
| Cash at bank and in hand | 54/58 | €34,988 | €16,751 | -€18,238 | -52.1% |
| Deferred charges and accrued income | 490/1 | €276 | - | -€276 | |
| Total equity and liabilities | 10/49 | €120,877 | €209,846 | +€88,969 | +73.6% |
| Equity | 10/15 | €77,021 | €84,173 | +€7,152 | +9.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €72,021 | €79,173 | +€7,152 | +9.9% |
| Distributable reserves | 133 | €72,021 | €79,173 | +€7,152 | +9.9% |
| Amounts payable | 17/49 | €43,856 | €125,673 | +€81,817 | +186.6% |
| Amounts payable after more than one year | 17 | €18,270 | €103,310 | +€85,040 | +465.5% |
| Financial debts | 170/4 | €18,270 | €103,310 | +€85,040 | +465.5% |
| Amounts payable within one year | 42/48 | €25,586 | €21,963 | -€3,623 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €9,041 | €16,246 | +€7,205 | +79.7% |
| Trade debts | 44 | €6,636 | €2,641 | -€3,994 | -60.2% |
| Suppliers | 440/4 | €6,636 | €2,641 | -€3,994 | -60.2% |
| Taxes, remuneration and social security | 45 | €9,909 | €3,076 | -€6,833 | -69.0% |
| Taxes | 450/3 | €7,881 | €1,048 | -€6,833 | -86.7% |
| Remuneration and social security | 454/9 | €2,028 | €2,028 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,687 | €14,971 | +€1,284 | +9.4% |
| Other operating charges | 640/8 | €837 | €909 | +€72 | +8.6% |
| Gross operating margin | 9900 | €52,468 | €27,446 | -€25,022 | -47.7% |
| Operating profit (loss) | 9901 | €37,945 | €11,566 | -€26,379 | -69.5% |
| Financial income | 75/76B | €43 | €111 | +€68 | +159.7% |
| Recurring financial income | 75 | €43 | €111 | +€68 | +159.7% |
| Financial charges | 65/66B | €934 | €2,112 | +€1,178 | +126.1% |
| Recurring financial charges | 65 | €934 | €2,112 | +€1,178 | +126.1% |
| Profit (loss) for the period before taxes | 9903 | €37,054 | €9,565 | -€27,488 | -74.2% |
| Income taxes | 67/77 | €7,223 | €2,414 | -€4,809 | -66.6% |
| Profit (loss) for the period | 9904 | €29,831 | €7,152 | -€22,679 | -76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,831 | €7,152 | -€22,679 | -76.0% |
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 6 October 2026 via checked.be.