COENE MARIO: 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.
COENE MARIO
Largest movements
- Tangible fixed assets -€40,534
down €40,534 (-15.8%), from €256,177 to €215,643
of which Leasing and similar rights: -€28,824
- Receivables within one year +€31,093
up €31,093 (+125%), from €24,944 to €56,037
of which Trade receivables: +€35,040
- Debts after one year -€40,985
down €40,985 (-25.2%), from €162,744 to €121,759
- Reserves +€25,838
up €25,838 (+37.6%), from €68,720 to €94,558
of which Distributable reserves: +€25,838
- Tax, wage and social debts +€10,427
up €10,427 (+94.1%), from €11,083 to €21,510
- Trade debts -€9,292
down €9,292 (-36.3%), from €25,594 to €16,302
- Gross operating margin +€16,153
up €16,153 (+16.3%), from €99,026 to €115,178
- Taxes +€5,746
up €5,746 (+29.0%), from €19,832 to €25,577
- Depreciation +€1,508
up €1,508 (+3.0%), from €49,516 to €51,024
- Financial charges -€1,452
down €1,452 (-16.8%), from €8,667 to €7,215
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.
Derived cash bridge
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 | €314,006 | €301,836 | -€12,170 | -3.9% |
| Fixed assets | 21/28 | €256,177 | €215,643 | -€40,534 | -15.8% |
| Tangible fixed assets | 22/27 | €256,177 | €215,643 | -€40,534 | -15.8% |
| Land and buildings | 22 | €115,346 | €111,124 | -€4,222 | -3.7% |
| Plant, machinery and equipment | 23 | €1,300 | €2,618 | +€1,318 | +101% |
| Furniture and vehicles | 24 | €37,957 | €29,150 | -€8,806 | -23.2% |
| Leasing and similar rights | 25 | €101,575 | €72,751 | -€28,824 | -28.4% |
| Current assets | 29/58 | €57,829 | €86,193 | +€28,364 | +49.0% |
| Stocks and contracts in progress | 3 | €5,387 | €5,523 | +€136 | +2.5% |
| Stocks | 30/36 | €5,387 | €5,523 | +€136 | +2.5% |
| Amounts receivable within one year | 40/41 | €24,944 | €56,037 | +€31,093 | +125% |
| Trade receivables | 40 | €4,732 | €39,772 | +€35,040 | +740% |
| Other amounts receivable | 41 | €20,212 | €16,264 | -€3,947 | -19.5% |
| Cash at bank and in hand | 54/58 | €22,903 | €19,922 | -€2,980 | -13.0% |
| Deferred charges and accrued income | 490/1 | €4,595 | €4,711 | +€116 | +2.5% |
| Total equity and liabilities | 10/49 | €314,006 | €301,836 | -€12,170 | -3.9% |
| Equity | 10/15 | €74,920 | €100,758 | +€25,838 | +34.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €68,720 | €94,558 | +€25,838 | +37.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €66,860 | €92,698 | +€25,838 | +38.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €239,086 | €201,079 | -€38,007 | -15.9% |
| Amounts payable after more than one year | 17 | €162,744 | €121,759 | -€40,985 | -25.2% |
| Financial debts | 170/4 | €162,744 | €121,759 | -€40,985 | -25.2% |
| Amounts payable within one year | 42/48 | €76,311 | €79,319 | +€3,008 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €39,635 | €40,985 | +€1,350 | +3.4% |
| Trade debts | 44 | €25,594 | €16,302 | -€9,292 | -36.3% |
| Suppliers | 440/4 | €25,594 | €16,302 | -€9,292 | -36.3% |
| Taxes, remuneration and social security | 45 | €11,083 | €21,510 | +€10,427 | +94.1% |
| Taxes | 450/3 | €11,083 | €21,510 | +€10,427 | +94.1% |
| Other amounts payable | 47/48 | €0 | €523 | +€523 | |
| Accrued charges and deferred income | 492/3 | €31 | €0 | -€31 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,516 | €51,024 | +€1,508 | +3.0% |
| Other operating charges | 640/8 | €5,086 | €5,527 | +€440 | +8.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €99,026 | €115,178 | +€16,153 | +16.3% |
| Operating profit (loss) | 9901 | €44,424 | €58,628 | +€14,204 | +32.0% |
| Financial income | 75/76B | €208 | €2 | -€205 | -98.8% |
| Recurring financial income | 75 | €208 | €2 | -€205 | -98.8% |
| Financial charges | 65/66B | €8,667 | €7,215 | -€1,452 | -16.8% |
| Recurring financial charges | 65 | €8,667 | €7,215 | -€1,452 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €35,965 | €51,415 | +€15,451 | +43.0% |
| Income taxes | 67/77 | €19,832 | €25,577 | +€5,746 | +29.0% |
| Profit (loss) for the period | 9904 | €16,133 | €25,838 | +€9,705 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,133 | €25,838 | +€9,705 | +60.2% |
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 22 October 2026 via checked.be.