COENEN: 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.
What changed
COENEN
NACE 46.150, Agents in the wholesale of furniture, household goods and hardware
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€31,275
2024 · €91,079-€59,805
Equity
€432,729
2024 · €401,454+€31,275
Cash
€7,016
2024 · €25,345-€18,329
Balance sheet total
€2.4m
2024 · €2.0m+€319,285
Largest movements
Assets
- Receivables within one year +€378,506
up €378,506 (+20.8%), from €1.8m to €2.2m
of which Other amounts receivable: +€316,327
- Stocks and contracts -€33,751
down €33,751 (-66.4%), from €50,854 to €17,103
Equity and liabilities
- Reserves +€395,911
up €395,911 (+2172.3%), from €18,226 to €414,137
of which Distributable reserves: +€395,911
- Profit (loss) carried forward -€364,636
down €364,636 (-100.0%), from €364,636 to €0
- Other debts +€181,767
up €181,767 (+302.2%), from €60,156 to €241,923
- Trade debts +€138,950
up €138,950 (+13.4%), from €1.0m to €1.2m
- Accrued charges and deferred income +€84,316
up €84,316 (+124.1%), from €67,941 to €152,257
Income statement
- Gross operating margin -€158,886
down €158,886 (-16.0%), from €995,981 to €837,095
- Staff costs -€73,970
down €73,970 (-9.4%), from €785,240 to €711,270
- Taxes -€23,644
down €23,644 (-58.0%), from €40,784 to €17,140
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.
Result 2024
€91,079
Gross operating margin
-€158,886
Staff costs
+€73,970
Depreciation
-€2,859
Other operating charges
+€367
Other operating items
+€665
Financial income
+€8,233
Financial charges
-€4,939
Taxes
+€23,644
Result 2025
€31,275
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.
From operations
+€127,935
Investment
-€10,633
Financing
-€135,631
Cash 2024
€25,345
From operations (derived)
+€127,935
Net result for the year
+€31,275
Depreciation
+€17,874
Stocks and contracts
+€33,751
Receivables within one year
-€378,506
Deferred charges and accrued income
-€101
Trade debts
+€138,950
Tax, wage and social debts
+€18,608
Other debts
+€181,767
Accrued charges and deferred income
+€84,316
Investment (derived)
-€10,633
Investment in fixed assets (net)
-€10,633
Financing
-€135,631
Debts after one year
-€75,142
Current portion of long-term debt
-€60,490
Cash 2025
€7,016
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,039,142 | €2,358,427 | +€319,285 | +15.7% |
| Fixed assets | 21/28 | €140,381 | €133,140 | -€7,241 | -5.2% |
| Tangible fixed assets | 22/27 | €124,030 | €116,789 | -€7,241 | -5.8% |
| Land and buildings | 22 | €79,443 | €77,408 | -€2,036 | -2.6% |
| Plant, machinery and equipment | 23 | €9,114 | €15,527 | +€6,413 | +70.4% |
| Furniture and vehicles | 24 | €35,053 | €23,854 | -€11,199 | -31.9% |
| Other tangible fixed assets | 26 | €420 | €0 | -€420 | -100.0% |
| Financial fixed assets | 28 | €16,351 | €16,351 | = | 0.0% |
| Current assets | 29/58 | €1,898,761 | €2,225,287 | +€326,526 | +17.2% |
| Stocks and contracts in progress | 3 | €50,854 | €17,103 | -€33,751 | -66.4% |
| Stocks | 30/36 | €50,854 | €17,103 | -€33,751 | -66.4% |
| Amounts receivable within one year | 40/41 | €1,820,634 | €2,199,139 | +€378,506 | +20.8% |
| Trade receivables | 40 | €335,296 | €397,475 | +€62,179 | +18.5% |
| Other amounts receivable | 41 | €1,485,337 | €1,801,664 | +€316,327 | +21.3% |
| Cash at bank and in hand | 54/58 | €25,345 | €7,016 | -€18,329 | -72.3% |
| Deferred charges and accrued income | 490/1 | €1,929 | €2,030 | +€101 | +5.2% |
| Total equity and liabilities | 10/49 | €2,039,142 | €2,358,427 | +€319,285 | +15.7% |
| Equity | 10/15 | €401,454 | €432,729 | +€31,275 | +7.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €18,226 | €414,137 | +€395,911 | +2172.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €18,226 | €414,137 | +€395,911 | +2172.3% |
| Profit (loss) carried forward | 14 | €364,636 | €0 | -€364,636 | -100.0% |
| Amounts payable | 17/49 | €1,637,688 | €1,925,698 | +€288,010 | +17.6% |
| Amounts payable after more than one year | 17 | €85,613 | €10,471 | -€75,142 | -87.8% |
| Financial debts | 170/4 | €85,613 | €10,471 | -€75,142 | -87.8% |
| Amounts payable within one year | 42/48 | €1,484,135 | €1,762,970 | +€278,836 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €206,025 | €145,535 | -€60,490 | -29.4% |
| Trade debts | 44 | €1,039,490 | €1,178,441 | +€138,950 | +13.4% |
| Suppliers | 440/4 | €1,039,490 | €1,178,441 | +€138,950 | +13.4% |
| Taxes, remuneration and social security | 45 | €178,464 | €197,072 | +€18,608 | +10.4% |
| Taxes | 450/3 | €67,238 | €80,601 | +€13,363 | +19.9% |
| Remuneration and social security | 454/9 | €111,226 | €116,472 | +€5,246 | +4.7% |
| Other amounts payable | 47/48 | €60,156 | €241,923 | +€181,767 | +302.2% |
| Accrued charges and deferred income | 492/3 | €67,941 | €152,257 | +€84,316 | +124.1% |
| Non-recurring operating income | 76A | €750 | €0 | -€750 | -100.0% |
| Remuneration, social security and pensions | 62 | €785,240 | €711,270 | -€73,970 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,015 | €17,874 | +€2,859 | +19.0% |
| Other operating charges | 640/8 | €33,471 | €33,104 | -€367 | -1.1% |
| Non-recurring operating charges | 66A | €6,600 | €5,936 | -€665 | -10.1% |
| Gross operating margin | 9900 | €995,981 | €837,095 | -€158,886 | -16.0% |
| Operating profit (loss) | 9901 | €155,655 | €68,912 | -€86,743 | -55.7% |
| Financial income | 75/76B | €28,516 | €36,749 | +€8,233 | +28.9% |
| Recurring financial income | 75 | €28,516 | €36,749 | +€8,233 | +28.9% |
| Financial charges | 65/66B | €52,307 | €57,246 | +€4,939 | +9.4% |
| Recurring financial charges | 65 | €52,307 | €57,246 | +€4,939 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €131,864 | €48,414 | -€83,449 | -63.3% |
| Income taxes | 67/77 | €40,784 | €17,140 | -€23,644 | -58.0% |
| Profit (loss) for the period | 9904 | €91,079 | €31,275 | -€59,805 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,079 | €31,275 | -€59,805 | -65.7% |
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 10 October 2026 via checked.be.