COEMANS: 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.
COEMANS
Largest movements
- Receivables within one year -€35,834
down €35,834 (-44.4%), from €80,746 to €44,912
of which Trade receivables: -€40,273
- Tangible fixed assets +€31,542
up €31,542 (+118.9%), from €26,536 to €58,078
of which Furniture and vehicles: +€31,542
- Cash +€7,472
up €7,472 (+2.6%), from €287,861 to €295,333
mainly Receivables within one year (+€35,834) and Depreciation (+€13,014)
- Other debts +€7,444
up €7,444 (+17.0%), from €43,679 to €51,123
- Reserves +€7,194
up €7,194 (+2.2%), from €323,911 to €331,105
- Tax, wage and social debts -€5,053
down €5,053 (-71.6%), from €7,053 to €2,000
of which Remuneration and social security: -€5,219
- Staff costs -€28,105
down €28,105 (-52.2%), from €53,864 to €25,759
- Gross operating margin -€20,941
down €20,941 (-29.0%), from €72,316 to €51,375
- Depreciation -€11,912
down €11,912 (-47.8%), from €24,926 to €13,014
- Taxes +€2,191
up €2,191, from €0 to €2,191
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 | €400,589 | €403,279 | +€2,690 | +0.7% |
| Fixed assets | 21/28 | €26,536 | €58,078 | +€31,542 | +118.9% |
| Tangible fixed assets | 22/27 | €26,536 | €58,078 | +€31,542 | +118.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €26,536 | €58,078 | +€31,542 | +118.9% |
| Current assets | 29/58 | €374,053 | €345,200 | -€28,853 | -7.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €80,746 | €44,912 | -€35,834 | -44.4% |
| Trade receivables | 40 | €48,044 | €7,771 | -€40,273 | -83.8% |
| Other amounts receivable | 41 | €32,702 | €37,141 | +€4,439 | +13.6% |
| Cash at bank and in hand | 54/58 | €287,861 | €295,333 | +€7,472 | +2.6% |
| Deferred charges and accrued income | 490/1 | €5,446 | €4,955 | -€491 | -9.0% |
| Total equity and liabilities | 10/49 | €400,589 | €403,279 | +€2,690 | +0.7% |
| Equity | 10/15 | €342,511 | €349,705 | +€7,194 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €323,911 | €331,105 | +€7,194 | +2.2% |
| Distributable reserves | 133 | €323,911 | €331,105 | +€7,194 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,078 | €53,574 | -€4,504 | -7.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €58,078 | €53,574 | -€4,504 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €3,401 | €0 | -€3,401 | -100.0% |
| Trade debts | 44 | €3,945 | €451 | -€3,494 | -88.6% |
| Suppliers | 440/4 | €3,945 | €451 | -€3,494 | -88.6% |
| Taxes, remuneration and social security | 45 | €7,053 | €2,000 | -€5,053 | -71.6% |
| Taxes | 450/3 | - | €166 | +€166 | |
| Remuneration and social security | 454/9 | €7,053 | €1,834 | -€5,219 | -74.0% |
| Other amounts payable | 47/48 | €43,679 | €51,123 | +€7,444 | +17.0% |
| Non-recurring operating income | 76A | - | €7,763 | +€7,763 | |
| Remuneration, social security and pensions | 62 | €53,864 | €25,759 | -€28,105 | -52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,926 | €13,014 | -€11,912 | -47.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,428 | €2,183 | -€245 | -10.1% |
| Gross operating margin | 9900 | €72,316 | €51,375 | -€20,941 | -29.0% |
| Operating profit (loss) | 9901 | -€8,902 | €10,419 | +€19,321 | |
| Financial income | 75/76B | €610 | €307 | -€303 | -49.7% |
| Recurring financial income | 75 | €610 | €307 | -€303 | -49.7% |
| Financial charges | 65/66B | €1,731 | €1,341 | -€390 | -22.5% |
| Recurring financial charges | 65 | €1,731 | €1,341 | -€390 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,023 | €9,385 | +€19,408 | |
| Income taxes | 67/77 | €0 | €2,191 | +€2,191 | |
| Profit (loss) for the period | 9904 | -€10,023 | €7,194 | +€17,217 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,023 | €7,194 | +€17,217 |
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 11 October 2026 via checked.be.