COETUS: 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.
COETUS
Largest movements
- Deferred charges and accrued income +€1.1m
up €1.1m (+36206.5%), from €2,954 to €1.1m
- Receivables within one year -€881,275
down €881,275 (-85.6%), from €1.0m to €148,397
of which Trade receivables: -€752,905
- Current investments +€94,000
up €94,000, from €0 to €94,000
- Cash +€41,081
up €41,081 (+22.9%), from €179,004 to €220,084
mainly Net result for the year (+€1.2m) and Receivables within one year (+€881,275)
- Other debts +€191,812
up €191,812 (+18.6%), from €1.0m to €1.2m
- Tax, wage and social debts +€120,400
up €120,400 (+331.7%), from €36,294 to €156,694
of which Taxes: +€120,405
- Reserves -€84,200
down €84,200 (-97.8%), from €86,060 to €1,860
of which Tax-exempt reserves: -€84,200
- Debts after one year +€76,602
new in 2026: €76,602
- Current portion of long-term debt +€17,718
new in 2026: €17,718
- Gross operating margin +€728,562
up €728,562 (+67.0%), from €1.1m to €1.8m
- Taxes +€208,273
up €208,273 (+91.3%), from €228,214 to €436,487
- Provisions -€50,477
down €50,477 (-96.8%), from €52,126 to €1,649
- Financial income -€24,871
down €24,871 (-100.0%), from €24,872 to €1
- Financial charges +€18,748
up €18,748 (+63.1%), from €29,709 to €48,458
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,223,975 | €1,548,420 | +€324,445 | +26.5% |
| Fixed assets | 21/28 | €12,345 | €13,277 | +€932 | +7.6% |
| Tangible fixed assets | 22/27 | €11,775 | €7,707 | -€4,068 | -34.5% |
| Plant, machinery and equipment | 23 | €7,116 | €5,023 | -€2,093 | -29.4% |
| Furniture and vehicles | 24 | €1,195 | €28 | -€1,167 | -97.7% |
| Other tangible fixed assets | 26 | €3,464 | €2,656 | -€808 | -23.3% |
| Financial fixed assets | 28 | €570 | €5,570 | +€5,000 | +877.2% |
| Current assets | 29/58 | €1,211,630 | €1,535,143 | +€323,513 | +26.7% |
| Amounts receivable within one year | 40/41 | €1,029,672 | €148,397 | -€881,275 | -85.6% |
| Trade receivables | 40 | €891,961 | €139,056 | -€752,905 | -84.4% |
| Other amounts receivable | 41 | €137,711 | €9,341 | -€128,371 | -93.2% |
| Current investments | 50/53 | €0 | €94,000 | +€94,000 | |
| Cash at bank and in hand | 54/58 | €179,004 | €220,084 | +€41,081 | +22.9% |
| Deferred charges and accrued income | 490/1 | €2,954 | €1,072,662 | +€1.1m | +36206.5% |
| Total equity and liabilities | 10/49 | €1,223,975 | €1,548,420 | +€324,445 | +26.5% |
| Equity | 10/15 | €104,660 | €20,460 | -€84,200 | -80.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,060 | €1,860 | -€84,200 | -97.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €0 | -€84,200 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €52,126 | €53,775 | +€1,649 | +3.2% |
| Provisions for liabilities and charges | 160/5 | €52,126 | €53,775 | +€1,649 | +3.2% |
| Other liabilities and charges | 164/5 | €52,126 | €53,775 | +€1,649 | +3.2% |
| Amounts payable | 17/49 | €1,067,189 | €1,474,185 | +€406,996 | +38.1% |
| Amounts payable after more than one year | 17 | - | €76,602 | +€76,602 | |
| Financial debts | 170/4 | - | €76,602 | +€76,602 | |
| Amounts payable within one year | 42/48 | €1,067,189 | €1,397,583 | +€330,394 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | - | €17,718 | +€17,718 | |
| Trade debts | 44 | €660 | €1,125 | +€465 | +70.3% |
| Suppliers | 440/4 | €660 | €1,125 | +€465 | +70.3% |
| Taxes, remuneration and social security | 45 | €36,294 | €156,694 | +€120,400 | +331.7% |
| Taxes | 450/3 | €19,346 | €139,750 | +€120,405 | +622.4% |
| Remuneration and social security | 454/9 | €16,949 | €16,944 | -€5 | 0.0% |
| Other amounts payable | 47/48 | €1,030,234 | €1,222,046 | +€191,812 | +18.6% |
| Non-recurring operating income | 76A | - | €7,495 | +€7,495 | |
| Remuneration, social security and pensions | 62 | €81,640 | €81,148 | -€492 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,134 | €4,602 | -€13,532 | -74.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €52,126 | €1,649 | -€50,477 | -96.8% |
| Other operating charges | 640/8 | €2,043 | €1,941 | -€103 | -5.0% |
| Gross operating margin | 9900 | €1,086,916 | €1,815,478 | +€728,562 | +67.0% |
| Operating profit (loss) | 9901 | €932,971 | €1,726,138 | +€793,166 | +85.0% |
| Financial income | 75/76B | €24,872 | €1 | -€24,871 | -100.0% |
| Recurring financial income | 75 | €24,872 | €1 | -€24,871 | -100.0% |
| Financial charges | 65/66B | €29,709 | €48,458 | +€18,748 | +63.1% |
| Recurring financial charges | 65 | €29,709 | €48,458 | +€18,748 | +63.1% |
| Profit (loss) for the period before taxes | 9903 | €928,134 | €1,677,681 | +€749,547 | +80.8% |
| Income taxes | 67/77 | €228,214 | €436,487 | +€208,273 | +91.3% |
| Profit (loss) for the period | 9904 | €699,921 | €1,241,194 | +€541,274 | +77.3% |
| Transfer from tax-exempt reserves | 789 | €294,700 | €84,200 | -€210,500 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €994,621 | €1,325,394 | +€330,774 | +33.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.