COESEMANS: 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.
COESEMANS
Largest movements
- Receivables within one year +€79,006
up €79,006 (+38.4%), from €205,836 to €284,843
of which Other amounts receivable: +€71,576
- Cash -€18,505
down €18,505 (-96.0%), from €19,274 to €768
mainly Receivables within one year (-€79,006) and Investment in fixed assets (net) (-€17,565)
- Tangible fixed assets +€10,387
up €10,387 (+13.3%), from €78,111 to €88,498
- Profit (loss) carried forward +€59,138
up €59,138 (+23.7%), from €249,399 to €308,538
- Tax, wage and social debts +€8,023
up €8,023 (+16.4%), from €49,006 to €57,029
- Gross operating margin +€6,513
up €6,513 (+8.0%), from €81,542 to €88,055
- Other operating charges +€4,772
up €4,772 (+346.0%), from €1,379 to €6,151
- Financial charges +€4,089
up €4,089 (+2430.9%), from €168 to €4,257
- Financial income +€2,818
up €2,818 (+28.4%), from €9,920 to €12,738
- Depreciation +€1,721
up €1,721 (+31.1%), from €5,537 to €7,258
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 | €303,421 | €374,229 | +€70,808 | +23.3% |
| Fixed assets | 21/28 | €78,311 | €88,618 | +€10,307 | +13.2% |
| Tangible fixed assets | 22/27 | €78,111 | €88,498 | +€10,387 | +13.3% |
| Land and buildings | 22 | €75,254 | €79,945 | +€4,691 | +6.2% |
| Plant, machinery and equipment | 23 | €190 | €2,566 | +€2,376 | +1249.1% |
| Furniture and vehicles | 24 | €2,666 | €2,014 | -€652 | -24.5% |
| Other tangible fixed assets | 26 | - | €3,973 | +€3,973 | |
| Financial fixed assets | 28 | €200 | €120 | -€80 | -40.0% |
| Current assets | 29/58 | €225,110 | €285,611 | +€60,501 | +26.9% |
| Amounts receivable within one year | 40/41 | €205,836 | €284,843 | +€79,006 | +38.4% |
| Trade receivables | 40 | €6,809 | €14,240 | +€7,431 | +109.1% |
| Other amounts receivable | 41 | €199,027 | €270,603 | +€71,576 | +36.0% |
| Cash at bank and in hand | 54/58 | €19,274 | €768 | -€18,505 | -96.0% |
| Total equity and liabilities | 10/49 | €303,421 | €374,229 | +€70,808 | +23.3% |
| Equity | 10/15 | €251,399 | €310,538 | +€59,138 | +23.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €249,399 | €308,538 | +€59,138 | +23.7% |
| Amounts payable | 17/49 | €52,021 | €63,691 | +€11,670 | +22.4% |
| Amounts payable within one year | 42/48 | €51,636 | €63,231 | +€11,595 | +22.5% |
| Financial debts | 43 | - | €1,567 | +€1,567 | |
| Credit institutions | 430/8 | - | €1,567 | +€1,567 | |
| Trade debts | 44 | €2,630 | €4,635 | +€2,005 | +76.2% |
| Suppliers | 440/4 | €2,630 | €4,635 | +€2,005 | +76.2% |
| Taxes, remuneration and social security | 45 | €49,006 | €57,029 | +€8,023 | +16.4% |
| Taxes | 450/3 | €49,006 | €57,029 | +€8,023 | +16.4% |
| Accrued charges and deferred income | 492/3 | €385 | €460 | +€74 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,537 | €7,258 | +€1,721 | +31.1% |
| Other operating charges | 640/8 | €1,379 | €6,151 | +€4,772 | +346.0% |
| Gross operating margin | 9900 | €81,542 | €88,055 | +€6,513 | +8.0% |
| Operating profit (loss) | 9901 | €74,626 | €74,646 | +€20 | 0.0% |
| Financial income | 75/76B | €9,920 | €12,738 | +€2,818 | +28.4% |
| Recurring financial income | 75 | €9,920 | €12,738 | +€2,818 | +28.4% |
| Financial charges | 65/66B | €168 | €4,257 | +€4,089 | +2430.9% |
| Recurring financial charges | 65 | €168 | €4,257 | +€4,089 | +2430.9% |
| Profit (loss) for the period before taxes | 9903 | €84,378 | €83,127 | -€1,252 | -1.5% |
| Income taxes | 67/77 | €23,361 | €23,988 | +€627 | +2.7% |
| Profit (loss) for the period | 9904 | €61,017 | €59,138 | -€1,879 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,017 | €59,138 | -€1,879 | -3.1% |
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.