COHERSA BRUSSELS: 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.
COHERSA BRUSSELS
Largest movements
- Cash -€105,723
down €105,723 (-70.4%), from €150,170 to €44,447
mainly Trade debts (-€124,848) and Contributions, distributions and other (-€30,000)
- Receivables within one year -€30,368
down €30,368 (-10.2%), from €297,874 to €267,506
of which Trade receivables: -€36,318
- Trade debts -€124,848
down €124,848 (-60.7%), from €205,565 to €80,717
- Profit (loss) carried forward +€37,003
up €37,003 (+29.8%), from €124,243 to €161,246
- Current portion of long-term debt -€25,000
down €25,000 (-83.3%), from €30,000 to €5,000
- Tax, wage and social debts -€17,644
down €17,644 (-19.2%), from €91,964 to €74,320
of which Taxes: -€19,138
- Other debts -€6,000
down €6,000 (-16.7%), from €36,000 to €30,000
- Gross operating margin -€51,293
down €51,293 (-16.7%), from €307,298 to €256,006
- Taxes -€13,170
down €13,170 (-37.5%), from €35,113 to €21,943
- Write-downs -€10,498
down €10,498, from €5,305 to -€5,193
- Staff costs +€8,330
up €8,330 (+5.8%), from €144,746 to €153,076
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 | €516,901 | €379,354 | -€137,547 | -26.6% |
| Fixed assets | 21/28 | €21,111 | €17,998 | -€3,113 | -14.7% |
| Intangible fixed assets | 21 | €6,553 | €4,633 | -€1,920 | -29.3% |
| Tangible fixed assets | 22/27 | €4,646 | €3,454 | -€1,193 | -25.7% |
| Furniture and vehicles | 24 | €4,646 | €3,454 | -€1,193 | -25.7% |
| Financial fixed assets | 28 | €9,911 | €9,911 | = | 0.0% |
| Current assets | 29/58 | €495,790 | €361,355 | -€134,434 | -27.1% |
| Stocks and contracts in progress | 3 | €42,978 | €40,642 | -€2,336 | -5.4% |
| Stocks | 30/36 | €42,978 | €40,642 | -€2,336 | -5.4% |
| Amounts receivable within one year | 40/41 | €297,874 | €267,506 | -€30,368 | -10.2% |
| Trade receivables | 40 | €297,874 | €261,556 | -€36,318 | -12.2% |
| Other amounts receivable | 41 | - | €5,950 | +€5,950 | |
| Cash at bank and in hand | 54/58 | €150,170 | €44,447 | -€105,723 | -70.4% |
| Deferred charges and accrued income | 490/1 | €4,768 | €8,760 | +€3,992 | +83.7% |
| Total equity and liabilities | 10/49 | €516,901 | €379,354 | -€137,547 | -26.6% |
| Equity | 10/15 | €144,703 | €181,706 | +€37,003 | +25.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,243 | €161,246 | +€37,003 | +29.8% |
| Amounts payable | 17/49 | €372,198 | €197,648 | -€174,550 | -46.9% |
| Amounts payable after more than one year | 17 | €5,000 | - | -€5,000 | |
| Other amounts payable | 178/9 | €5,000 | - | -€5,000 | |
| Amounts payable within one year | 42/48 | €364,680 | €191,188 | -€173,492 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €5,000 | -€25,000 | -83.3% |
| Financial debts | 43 | €1,151 | €1,151 | = | 0.0% |
| Credit institutions | 430/8 | €1,151 | €1,151 | = | 0.0% |
| Trade debts | 44 | €205,565 | €80,717 | -€124,848 | -60.7% |
| Suppliers | 440/4 | €205,565 | €80,717 | -€124,848 | -60.7% |
| Taxes, remuneration and social security | 45 | €91,964 | €74,320 | -€17,644 | -19.2% |
| Taxes | 450/3 | €88,003 | €68,865 | -€19,138 | -21.7% |
| Remuneration and social security | 454/9 | €3,961 | €5,455 | +€1,494 | +37.7% |
| Other amounts payable | 47/48 | €36,000 | €30,000 | -€6,000 | -16.7% |
| Accrued charges and deferred income | 492/3 | €2,518 | €6,460 | +€3,942 | +156.5% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €144,746 | €153,076 | +€8,330 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,920 | €4,186 | +€1,266 | +43.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,305 | -€5,193 | -€10,498 | |
| Other operating charges | 640/8 | €3,741 | €2,406 | -€1,335 | -35.7% |
| Gross operating margin | 9900 | €307,298 | €256,006 | -€51,293 | -16.7% |
| Operating profit (loss) | 9901 | €150,585 | €101,530 | -€49,055 | -32.6% |
| Financial income | 75/76B | €82 | €4 | -€77 | -94.8% |
| Recurring financial income | 75 | €82 | €4 | -€77 | -94.8% |
| Financial charges | 65/66B | €10,980 | €12,589 | +€1,609 | +14.6% |
| Recurring financial charges | 65 | €10,980 | €12,589 | +€1,609 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €139,686 | €88,946 | -€50,741 | -36.3% |
| Income taxes | 67/77 | €35,113 | €21,943 | -€13,170 | -37.5% |
| Profit (loss) for the period | 9904 | €104,574 | €67,003 | -€37,571 | -35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €104,574 | €67,003 | -€37,571 | -35.9% |
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.