COHE'dion: 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.
COHE'dion
Largest movements
- Cash -€26,196
down €26,196 (-36.1%), from €72,645 to €46,449
mainly Other debts (-€42,178) and Debts after one year (-€19,398)
- Tangible fixed assets -€25,940
down €25,940 (-9.7%), from €266,320 to €240,381
of which Plant, machinery and equipment: -€31,894
- Other debts -€42,178
down €42,178 (-24.3%), from €173,527 to €131,350
- Debts after one year -€19,398
down €19,398 (-13.7%), from €141,250 to €121,852
- Profit (loss) carried forward +€14,024
up €14,024 (+19.1%), from -€73,398 to -€59,374
- Trade debts -€10,065
down €10,065 (-54.8%), from €18,360 to €8,296
- Advances received +€8,815
up €8,815 (+44.4%), from €19,832 to €28,647
- Staff costs -€9,169
down €9,169 (-13.5%), from €67,758 to €58,589
- Gross operating margin +€7,636
up €7,636 (+6.2%), from €122,328 to €129,964
- Financial charges -€2,986
down €2,986 (-17.4%), from €17,177 to €14,191
- Depreciation +€2,355
up €2,355 (+6.3%), from €37,596 to €39,951
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,638 | €287,619 | -€53,019 | -15.6% |
| Fixed assets | 21/28 | €267,204 | €240,847 | -€26,356 | -9.9% |
| Intangible fixed assets | 21 | €833 | €417 | -€417 | -50.0% |
| Tangible fixed assets | 22/27 | €266,320 | €240,381 | -€25,940 | -9.7% |
| Plant, machinery and equipment | 23 | €243,721 | €211,826 | -€31,894 | -13.1% |
| Furniture and vehicles | 24 | €21,415 | €27,813 | +€6,398 | +29.9% |
| Other tangible fixed assets | 26 | €1,184 | €742 | -€443 | -37.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €73,435 | €46,772 | -€26,663 | -36.3% |
| Cash at bank and in hand | 54/58 | €72,645 | €46,449 | -€26,196 | -36.1% |
| Deferred charges and accrued income | 490/1 | €790 | €323 | -€467 | -59.1% |
| Total equity and liabilities | 10/49 | €340,638 | €287,619 | -€53,019 | -15.6% |
| Equity | 10/15 | -€54,798 | -€40,774 | +€14,024 | +25.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,398 | -€59,374 | +€14,024 | +19.1% |
| Amounts payable | 17/49 | €395,436 | €328,393 | -€67,043 | -17.0% |
| Amounts payable after more than one year | 17 | €141,250 | €121,852 | -€19,398 | -13.7% |
| Financial debts | 170/4 | €141,250 | €121,852 | -€19,398 | -13.7% |
| Amounts payable within one year | 42/48 | €254,186 | €206,541 | -€47,645 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €18,986 | €19,398 | +€412 | +2.2% |
| Trade debts | 44 | €18,360 | €8,296 | -€10,065 | -54.8% |
| Suppliers | 440/4 | €18,360 | €8,296 | -€10,065 | -54.8% |
| Advances received on contracts in progress | 46 | €19,832 | €28,647 | +€8,815 | +44.4% |
| Taxes, remuneration and social security | 45 | €23,480 | €18,850 | -€4,630 | -19.7% |
| Taxes | 450/3 | €4,305 | €4,565 | +€259 | +6.0% |
| Remuneration and social security | 454/9 | €19,175 | €14,285 | -€4,889 | -25.5% |
| Other amounts payable | 47/48 | €173,527 | €131,350 | -€42,178 | -24.3% |
| Remuneration, social security and pensions | 62 | €67,758 | €58,589 | -€9,169 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,596 | €39,951 | +€2,355 | +6.3% |
| Other operating charges | 640/8 | €2,929 | €3,209 | +€280 | +9.6% |
| Gross operating margin | 9900 | €122,328 | €129,964 | +€7,636 | +6.2% |
| Operating profit (loss) | 9901 | €14,046 | €28,215 | +€14,169 | +101% |
| Financial income | 75/76B | €171 | - | -€171 | |
| Recurring financial income | 75 | €171 | - | -€171 | |
| Financial charges | 65/66B | €17,177 | €14,191 | -€2,986 | -17.4% |
| Recurring financial charges | 65 | €17,177 | €14,191 | -€2,986 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,960 | €14,024 | +€16,984 | |
| Income taxes | 67/77 | -€226 | - | +€226 | |
| Profit (loss) for the period | 9904 | -€2,734 | €14,024 | +€16,758 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,734 | €14,024 | +€16,758 |
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 25 October 2026 via checked.be.