COHOUT: 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.
COHOUT
Largest movements
- Stocks and contracts -€757,843
down €757,843 (-42.5%), from €1.8m to €1.0m
- Receivables within one year -€220,849
down €220,849 (-28.1%), from €786,620 to €565,770
of which Trade receivables: -€162,303
- Cash -€176,276
down €176,276 (-49.0%), from €360,061 to €183,786
mainly Trade debts (-€1.1m) and Investment in fixed assets (net) (-€272,017)
- Tangible fixed assets -€138,189
down €138,189 (-15.4%), from €895,846 to €757,657
of which Leasing and similar rights: -€85,699
- Trade debts -€1.1m
down €1.1m (-58.2%), from €1.8m to €760,932
- Other debts -€138,221
down €138,221 (-36.8%), from €375,959 to €237,738
- Debts after one year -€41,497
down €41,497 (-9.3%), from €445,650 to €404,154
- Depreciation +€60,064
up €60,064 (+17.3%), from €347,724 to €407,788
- Gross operating margin +€59,385
up €59,385 (+7.7%), from €774,875 to €834,260
- Other operating charges +€13,699
up €13,699 (+170%), from €8,069 to €21,767
- Staff costs +€10,282
up €10,282 (+3.7%), from €278,534 to €288,817
- Taxes +€9,852
up €9,852 (+90.3%), from €10,910 to €20,762
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 | €3,861,806 | €2,586,096 | -€1.3m | -33.0% |
| Fixed assets | 21/28 | €921,056 | €785,286 | -€135,770 | -14.7% |
| Intangible fixed assets | 21 | €8,368 | €12,670 | +€4,302 | +51.4% |
| Tangible fixed assets | 22/27 | €895,846 | €757,657 | -€138,189 | -15.4% |
| Land and buildings | 22 | €22,841 | €22,002 | -€839 | -3.7% |
| Plant, machinery and equipment | 23 | €77,462 | €56,898 | -€20,564 | -26.5% |
| Furniture and vehicles | 24 | €91,057 | €61,970 | -€29,087 | -31.9% |
| Leasing and similar rights | 25 | €702,486 | €616,787 | -€85,699 | -12.2% |
| Assets under construction and advance payments | 27 | €2,000 | - | -€2,000 | |
| Financial fixed assets | 28 | €16,842 | €14,958 | -€1,884 | -11.2% |
| Current assets | 29/58 | €2,940,750 | €1,800,811 | -€1.1m | -38.8% |
| Stocks and contracts in progress | 3 | €1,782,779 | €1,024,936 | -€757,843 | -42.5% |
| Stocks | 30/36 | €1,782,779 | €1,024,936 | -€757,843 | -42.5% |
| Amounts receivable within one year | 40/41 | €786,620 | €565,770 | -€220,849 | -28.1% |
| Trade receivables | 40 | €663,785 | €501,482 | -€162,303 | -24.5% |
| Other amounts receivable | 41 | €122,835 | €64,289 | -€58,546 | -47.7% |
| Cash at bank and in hand | 54/58 | €360,061 | €183,786 | -€176,276 | -49.0% |
| Deferred charges and accrued income | 490/1 | €11,289 | €26,319 | +€15,030 | +133% |
| Total equity and liabilities | 10/49 | €3,861,806 | €2,586,096 | -€1.3m | -33.0% |
| Equity | 10/15 | €377,822 | €391,138 | +€13,316 | +3.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €315,822 | €329,138 | +€13,316 | +4.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,256 | €30,256 | = | 0.0% |
| Distributable reserves | 133 | €279,366 | €292,682 | +€13,316 | +4.8% |
| Amounts payable | 17/49 | €3,483,984 | €2,194,959 | -€1.3m | -37.0% |
| Amounts payable after more than one year | 17 | €445,650 | €404,154 | -€41,497 | -9.3% |
| Financial debts | 170/4 | €445,650 | €404,154 | -€41,497 | -9.3% |
| Amounts payable within one year | 42/48 | €3,037,057 | €1,789,310 | -€1.2m | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €262,350 | €238,786 | -€23,564 | -9.0% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €1,820,485 | €760,932 | -€1.1m | -58.2% |
| Suppliers | 440/4 | €1,820,485 | €760,932 | -€1.1m | -58.2% |
| Advances received on contracts in progress | 46 | €325 | €8,351 | +€8,026 | +2,470% |
| Taxes, remuneration and social security | 45 | €77,938 | €43,504 | -€34,434 | -44.2% |
| Taxes | 450/3 | €52,719 | €18,698 | -€34,020 | -64.5% |
| Remuneration and social security | 454/9 | €25,219 | €24,805 | -€414 | -1.6% |
| Other amounts payable | 47/48 | €375,959 | €237,738 | -€138,221 | -36.8% |
| Accrued charges and deferred income | 492/3 | €1,277 | €1,495 | +€218 | +17.1% |
| Non-recurring operating income | 76A | €120,123 | €27,417 | -€92,705 | -77.2% |
| Remuneration, social security and pensions | 62 | €278,534 | €288,817 | +€10,282 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €347,724 | €407,788 | +€60,064 | +17.3% |
| Other operating charges | 640/8 | €8,069 | €21,767 | +€13,699 | +170% |
| Non-recurring operating charges | 66A | €3,359 | - | -€3,359 | |
| Gross operating margin | 9900 | €774,875 | €834,260 | +€59,385 | +7.7% |
| Operating profit (loss) | 9901 | €137,189 | €115,889 | -€21,301 | -15.5% |
| Financial income | 75/76B | €984 | €3,338 | +€2,354 | +239% |
| Recurring financial income | 75 | €984 | €3,338 | +€2,354 | +239% |
| Financial charges | 65/66B | €93,139 | €85,148 | -€7,990 | -8.6% |
| Recurring financial charges | 65 | €93,139 | €85,148 | -€7,990 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €45,035 | €34,078 | -€10,957 | -24.3% |
| Income taxes | 67/77 | €10,910 | €20,762 | +€9,852 | +90.3% |
| Profit (loss) for the period | 9904 | €34,125 | €13,316 | -€20,809 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,125 | €13,316 | -€20,809 | -61.0% |
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 19 October 2026 via checked.be.