COEXPAIR DYNAMICS: 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
COEXPAIR DYNAMICS
NACE 26.200, Manufacture of computer, electronic and optical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€165,479
2024 · €212,872-€47,393
Equity
€2.1m
2024 · €2.3m-€187,961
Cash
€85,354
2024 · €91,835-€6,482
Balance sheet total
€3.0m
2024 · €2.5m+€490,945
Largest movements
Assets
- Receivables within one year +€331,478
up €331,478 (+29.5%), from €1.1m to €1.5m
of which Trade receivables: +€192,425
- Tangible fixed assets +€165,220
up €165,220 (+12.7%), from €1.3m to €1.5m
of which Plant, machinery and equipment: +€1.3m
Equity and liabilities
- Other debts +€351,519
up €351,519 (+584%), from €60,144 to €411,662
- Investment grants -€314,440
down €314,440 (-17.9%), from €1.8m to €1.4m
- Trade debts +€258,980
new in 2025: €258,980
- Profit (loss) carried forward +€126,479
up €126,479 (+31.8%), from €398,071 to €524,550
- Short-term financial debts +€100,000
new in 2025: €100,000
Income statement
- Depreciation +€344,038
up €344,038 (+31.0%), from €1.1m to €1.5m
- Financial income +€223,868
up €223,868 (+192%), from €116,513 to €340,381
- Gross operating margin +€144,753
up €144,753 (+8.6%), from €1.7m to €1.8m
- Provisions -€96,392
no longer reported in 2025 (was €96,392)
- Staff costs +€71,104
up €71,104 (+17.6%), from €403,927 to €475,031
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
€212,872
Gross operating margin
+€144,753
Staff costs
-€71,104
Depreciation
-€344,038
Provisions
+€96,392
Other operating charges
-€40,232
Financial income
+€223,868
Financial charges
+€6,343
Taxes
-€63,375
Result 2025
€165,479
raises the resultlowers the result
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.
From operations
+€1.9m
Investment
-€1.6m
Financing
-€253,440
Cash 2024
€91,835
From operations (derived)
+€1.9m
Net result for the year
+€165,479
Depreciation
+€1.5m
Receivables within one year
-€331,478
Deferred charges and accrued income
-€729
Trade debts
+€258,980
Tax, wage and social debts
+€20,271
Other debts
+€351,519
Accrued charges and deferred income
-€51,864
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€253,440
Short-term financial debts
+€100,000
Contributions, distributions and other
-€353,440
Cash 2025
€85,354
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,517,018 | €3,007,963 | +€490,945 | +19.5% |
| Fixed assets | 21/28 | €1,300,538 | €1,465,758 | +€165,220 | +12.7% |
| Tangible fixed assets | 22/27 | €1,300,538 | €1,465,758 | +€165,220 | +12.7% |
| Plant, machinery and equipment | 23 | €168,256 | €1,448,926 | +€1.3m | +761% |
| Furniture and vehicles | 24 | €1,493 | €14,107 | +€12,614 | +845% |
| Leasing and similar rights | 25 | - | €2,725 | +€2,725 | |
| Assets under construction and advance payments | 27 | €1,130,789 | - | -€1.1m | |
| Current assets | 29/58 | €1,216,480 | €1,542,205 | +€325,725 | +26.8% |
| Amounts receivable within one year | 40/41 | €1,124,645 | €1,456,122 | +€331,478 | +29.5% |
| Trade receivables | 40 | €940,686 | €1,133,111 | +€192,425 | +20.5% |
| Other amounts receivable | 41 | €183,958 | €323,012 | +€139,053 | +75.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €91,835 | €85,354 | -€6,482 | -7.1% |
| Deferred charges and accrued income | 490/1 | €0 | €729 | +€729 | |
| Total equity and liabilities | 10/49 | €2,517,018 | €3,007,963 | +€490,945 | +19.5% |
| Equity | 10/15 | €2,260,042 | €2,072,081 | -€187,961 | -8.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €5,170 | €5,170 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,170 | €5,170 | = | 0.0% |
| Legal reserve | 130 | €5,170 | €5,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €398,071 | €524,550 | +€126,479 | +31.8% |
| Investment grants | 15 | €1,756,801 | €1,442,361 | -€314,440 | -17.9% |
| Provisions and deferred taxes | 16 | €96,392 | €96,392 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €96,392 | €96,392 | = | 0.0% |
| Other liabilities and charges | 164/5 | €96,392 | €96,392 | = | 0.0% |
| Amounts payable | 17/49 | €160,584 | €839,490 | +€678,906 | +423% |
| Amounts payable within one year | 42/48 | €108,720 | €839,490 | +€730,770 | +672% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | - | €258,980 | +€258,980 | |
| Suppliers | 440/4 | - | €258,980 | +€258,980 | |
| Taxes, remuneration and social security | 45 | €48,576 | €68,848 | +€20,271 | +41.7% |
| Taxes | 450/3 | €406 | - | -€406 | |
| Remuneration and social security | 454/9 | €48,170 | €68,848 | +€20,678 | +42.9% |
| Other amounts payable | 47/48 | €60,144 | €411,662 | +€351,519 | +584% |
| Accrued charges and deferred income | 492/3 | €51,864 | - | -€51,864 | |
| Remuneration, social security and pensions | 62 | €403,927 | €475,031 | +€71,104 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,110,170 | €1,454,208 | +€344,038 | +31.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €96,392 | - | -€96,392 | |
| Other operating charges | 640/8 | €1,556 | €41,787 | +€40,232 | +2,586% |
| Gross operating margin | 9900 | €1,679,743 | €1,824,496 | +€144,753 | +8.6% |
| Operating profit (loss) | 9901 | €67,699 | -€146,530 | -€214,229 | |
| Financial income | 75/76B | €116,513 | €340,381 | +€223,868 | +192% |
| Recurring financial income | 75 | €116,513 | €340,381 | +€223,868 | +192% |
| Financial charges | 65/66B | €18,453 | €12,110 | -€6,343 | -34.4% |
| Recurring financial charges | 65 | €18,453 | €12,110 | -€6,343 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €165,759 | €181,741 | +€15,982 | +9.6% |
| Income taxes | 67/77 | -€47,113 | €16,262 | +€63,375 | |
| Profit (loss) for the period | 9904 | €212,872 | €165,479 | -€47,393 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €212,872 | €165,479 | -€47,393 | -22.3% |
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 17 October 2026 via checked.be.