COEMANS: 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.
COEMANS
Largest movements
- Cash +€54,141
up €54,141 (+18.6%), from €291,688 to €345,829
mainly Accrued charges and deferred income (+€52,000) and Stocks and contracts (+€33,241)
- Receivables within one year +€36,811
up €36,811 (+66.8%), from €55,114 to €91,925
of which Trade receivables: +€55,491
- Stocks and contracts -€33,241
down €33,241 (-35.3%), from €94,191 to €60,950
- Tangible fixed assets -€12,147
down €12,147 (-32.0%), from €37,928 to €25,781
of which Furniture and vehicles: -€11,135
- Accrued charges and deferred income +€52,000
new in 2025: €52,000
- Reserves +€27,601
up €27,601 (+64.6%), from €42,730 to €70,332
of which Distributable reserves: +€27,601
- Trade debts -€19,061
down €19,061 (-19.5%), from €97,770 to €78,708
- Tax, wage and social debts -€6,501
down €6,501 (-95.7%), from €6,794 to €292
of which Taxes: -€6,511
- Gross operating margin +€16,724
up €16,724 (+40.5%), from €41,291 to €58,015
- Taxes +€3,928
up €3,928 (+57.8%), from €6,794 to €10,722
- Staff costs +€3,122
new in 2025: €3,122
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 | €478,921 | €530,505 | +€51,585 | +10.8% |
| Fixed assets | 21/28 | €37,928 | €28,106 | -€9,822 | -25.9% |
| Tangible fixed assets | 22/27 | €37,928 | €25,781 | -€12,147 | -32.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €14,333 | €13,321 | -€1,012 | -7.1% |
| Furniture and vehicles | 24 | €23,595 | €12,460 | -€11,135 | -47.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | - | €2,325 | +€2,325 | |
| Current assets | 29/58 | €440,993 | €502,400 | +€61,407 | +13.9% |
| Stocks and contracts in progress | 3 | €94,191 | €60,950 | -€33,241 | -35.3% |
| Stocks | 30/36 | €94,191 | €60,950 | -€33,241 | -35.3% |
| Amounts receivable within one year | 40/41 | €55,114 | €91,925 | +€36,811 | +66.8% |
| Trade receivables | 40 | €32,926 | €88,418 | +€55,491 | +168.5% |
| Other amounts receivable | 41 | €22,187 | €3,507 | -€18,680 | -84.2% |
| Cash at bank and in hand | 54/58 | €291,688 | €345,829 | +€54,141 | +18.6% |
| Deferred charges and accrued income | 490/1 | €0 | €3,696 | +€3,696 | |
| Total equity and liabilities | 10/49 | €478,921 | €530,505 | +€51,585 | +10.8% |
| Equity | 10/15 | €67,520 | €95,121 | +€27,601 | +40.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €42,730 | €70,332 | +€27,601 | +64.6% |
| Non-distributable reserves | 130/1 | €6,692 | €6,692 | = | 0.0% |
| Other | 1319 | €6,692 | €6,692 | = | 0.0% |
| Tax-exempt reserves | 132 | €206 | €206 | = | 0.0% |
| Distributable reserves | 133 | €35,832 | €63,433 | +€27,601 | +77.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €411,401 | €435,384 | +€23,983 | +5.8% |
| Amounts payable within one year | 42/48 | €411,401 | €383,384 | -€28,017 | -6.8% |
| Trade debts | 44 | €97,770 | €78,708 | -€19,061 | -19.5% |
| Suppliers | 440/4 | €97,770 | €78,708 | -€19,061 | -19.5% |
| Taxes, remuneration and social security | 45 | €6,794 | €292 | -€6,501 | -95.7% |
| Taxes | 450/3 | €6,794 | €283 | -€6,511 | -95.8% |
| Remuneration and social security | 454/9 | - | €10 | +€10 | |
| Other amounts payable | 47/48 | €306,838 | €304,384 | -€2,454 | -0.8% |
| Accrued charges and deferred income | 492/3 | - | €52,000 | +€52,000 | |
| Remuneration, social security and pensions | 62 | - | €3,122 | +€3,122 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,974 | €13,421 | +€448 | +3.5% |
| Other operating charges | 640/8 | €3,420 | €3,466 | +€46 | +1.4% |
| Gross operating margin | 9900 | €41,291 | €58,015 | +€16,724 | +40.5% |
| Operating profit (loss) | 9901 | €24,898 | €38,006 | +€13,108 | +52.6% |
| Financial income | 75/76B | €0 | €305 | +€305 | +609040.0% |
| Recurring financial income | 75 | €0 | €305 | +€305 | +609040.0% |
| Financial charges | 65/66B | -€247 | -€13 | +€235 | +94.9% |
| Recurring financial charges | 65 | -€247 | -€13 | +€235 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | €25,145 | €38,323 | +€13,178 | +52.4% |
| Income taxes | 67/77 | €6,794 | €10,722 | +€3,928 | +57.8% |
| Profit (loss) for the period | 9904 | €18,351 | €27,601 | +€9,250 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,351 | €27,601 | +€9,250 | +50.4% |
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 8 October 2026 via checked.be.