COËX: what changed
COËX
Largest movements
- Cash -€45,336
down €45,336 (-52.9%), from €85,743 to €40,407
mainly Investment in fixed assets (net) (-€54,693) and Contributions, distributions and other (-€42,510)
- Tangible fixed assets +€43,714
up €43,714 (+546%), from €8,002 to €51,716
of which Furniture and vehicles: +€44,693
- Receivables within one year +€19,772
up €19,772 (+23.5%), from €84,034 to €103,806
of which Trade receivables: +€26,771
- Receivables after one year -€14,321
down €14,321 (-100%), from €14,321 to €0
- Deferred charges and accrued income -€4,109
down €4,109 (-45.2%), from €9,087 to €4,978
- Debts after one year +€38,567
new in 2025: €38,567
- Trade debts -€29,425
down €29,425 (-69.7%), from €42,221 to €12,795
- Other debts -€17,440
down €17,440 (-46.0%), from €37,882 to €20,442
- Accrued charges and deferred income -€15,615
down €15,615 (-92.6%), from €16,865 to €1,250
- Reserves +€14,273
up €14,273 (+7.3%), from €194,416 to €208,690
of which Distributable reserves: +€14,273
- Gross operating margin +€61,112
up €61,112 (+66.5%), from €91,949 to €153,062
- Taxes +€15,625
up €15,625 (+208%), from €7,524 to €23,148
- Depreciation +€5,218
up €5,218 (+90.6%), from €5,761 to €10,979
- Staff costs -€3,047
down €3,047 (-4.9%), from €61,688 to €58,641
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €304,374 | €304,354 | -€20 | 0.0% |
| Fixed assets | 21/28 | €9,052 | €52,766 | +€43,714 | +483% |
| Tangible fixed assets | 22/27 | €8,002 | €51,716 | +€43,714 | +546% |
| Plant, machinery and equipment | 23 | €1,738 | €1,266 | -€472 | -27.2% |
| Furniture and vehicles | 24 | €4,987 | €49,680 | +€44,693 | +896% |
| Other tangible fixed assets | 26 | €1,277 | €770 | -€507 | -39.7% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €295,322 | €251,588 | -€43,734 | -14.8% |
| Amounts receivable after more than one year | 29 | €14,321 | €0 | -€14,321 | -100% |
| Other amounts receivable | 291 | €14,321 | €0 | -€14,321 | -100% |
| Stocks and contracts in progress | 3 | €19,467 | €16,757 | -€2,710 | -13.9% |
| Stocks | 30/36 | €19,467 | €16,757 | -€2,710 | -13.9% |
| Amounts receivable within one year | 40/41 | €84,034 | €103,806 | +€19,772 | +23.5% |
| Trade receivables | 40 | €66,893 | €93,664 | +€26,771 | +40.0% |
| Other amounts receivable | 41 | €17,141 | €10,142 | -€6,999 | -40.8% |
| Current investments | 50/53 | €82,669 | €85,640 | +€2,970 | +3.6% |
| Cash at bank and in hand | 54/58 | €85,743 | €40,407 | -€45,336 | -52.9% |
| Deferred charges and accrued income | 490/1 | €9,087 | €4,978 | -€4,109 | -45.2% |
| Total equity and liabilities | 10/49 | €304,374 | €304,354 | -€20 | 0.0% |
| Equity | 10/15 | €194,516 | €208,790 | +€14,273 | +7.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €194,416 | €208,690 | +€14,273 | +7.3% |
| Tax-exempt reserves | 132 | €6,616 | €6,616 | = | 0.0% |
| Distributable reserves | 133 | €187,801 | €202,074 | +€14,273 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,858 | €95,565 | -€14,293 | -13.0% |
| Amounts payable after more than one year | 17 | - | €38,567 | +€38,567 | |
| Financial debts | 170/4 | - | €38,567 | +€38,567 | |
| Amounts payable within one year | 42/48 | €92,993 | €55,748 | -€37,245 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €10,480 | +€10,480 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €42,221 | €12,795 | -€29,425 | -69.7% |
| Suppliers | 440/4 | €42,221 | €12,795 | -€29,425 | -69.7% |
| Taxes, remuneration and social security | 45 | €12,890 | €12,030 | -€860 | -6.7% |
| Taxes | 450/3 | €4,908 | €2,511 | -€2,396 | -48.8% |
| Remuneration and social security | 454/9 | €7,982 | €9,519 | +€1,537 | +19.3% |
| Other amounts payable | 47/48 | €37,882 | €20,442 | -€17,440 | -46.0% |
| Accrued charges and deferred income | 492/3 | €16,865 | €1,250 | -€15,615 | -92.6% |
| Remuneration, social security and pensions | 62 | €61,688 | €58,641 | -€3,047 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,761 | €10,979 | +€5,218 | +90.6% |
| Other operating charges | 640/8 | €1,495 | €2,210 | +€715 | +47.8% |
| Gross operating margin | 9900 | €91,949 | €153,062 | +€61,112 | +66.5% |
| Operating profit (loss) | 9901 | €23,006 | €81,232 | +€58,226 | +253% |
| Financial income | 75/76B | €700 | €248 | -€452 | -64.6% |
| Recurring financial income | 75 | €700 | €248 | -€452 | -64.6% |
| Financial charges | 65/66B | €386 | €1,548 | +€1,163 | +302% |
| Recurring financial charges | 65 | €386 | €1,548 | +€1,163 | +302% |
| Profit (loss) for the period before taxes | 9903 | €23,320 | €79,932 | +€56,612 | +243% |
| Income taxes | 67/77 | €7,524 | €23,148 | +€15,625 | +208% |
| Profit (loss) for the period | 9904 | €15,797 | €56,784 | +€40,987 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €15,797 | €56,784 | +€40,987 | +259% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.