COLED Projects: 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.
COLED Projects
Largest movements
- Cash +€38,089
up €38,089 (+68.6%), from €55,484 to €93,573
mainly Other debts (+€73,487) and Net result for the year (+€68,307)
- Receivables within one year -€1,708
down €1,708 (-7.2%), from €23,655 to €21,948
of which Trade receivables: -€1,708
- Other debts +€73,487
up €73,487 (+891%), from €8,247 to €81,734
- Current portion of long-term debt -€31,509
down €31,509 (-100%), from €31,509 to €0
- Profit (loss) carried forward -€7,790
down €7,790 (-100%), from €7,790 to €0
- Tax, wage and social debts +€4,164
up €4,164 (+25.1%), from €16,601 to €20,764
- Trade debts -€3,031
down €3,031 (-57.7%), from €5,250 to €2,219
- Gross operating margin +€26,579
up €26,579 (+38.8%), from €68,458 to €95,037
- Taxes +€16,526
up €16,526 (+583%), from €2,835 to €19,361
- Financial charges +€2,444
up €2,444 (+102%), from €2,397 to €4,840
- Depreciation +€1,064
up €1,064 (+128%), from €829 to €1,892
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 | €87,997 | €123,765 | +€35,767 | +40.6% |
| Fixed assets | 21/28 | €7,336 | €6,708 | -€628 | -8.6% |
| Tangible fixed assets | 22/27 | €7,336 | €6,708 | -€628 | -8.6% |
| Plant, machinery and equipment | 23 | €424 | €1,231 | +€807 | +191% |
| Furniture and vehicles | 24 | €6,912 | €5,477 | -€1,435 | -20.8% |
| Current assets | 29/58 | €80,661 | €117,057 | +€36,395 | +45.1% |
| Stocks and contracts in progress | 3 | €315 | €315 | = | 0.0% |
| Stocks | 30/36 | €315 | €315 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,655 | €21,948 | -€1,708 | -7.2% |
| Trade receivables | 40 | €21,690 | €19,982 | -€1,708 | -7.9% |
| Other amounts receivable | 41 | €1,965 | €1,965 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,484 | €93,573 | +€38,089 | +68.6% |
| Deferred charges and accrued income | 490/1 | €1,208 | €1,221 | +€13 | +1.1% |
| Total equity and liabilities | 10/49 | €87,997 | €123,765 | +€35,767 | +40.6% |
| Equity | 10/15 | €26,390 | €18,600 | -€7,790 | -29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,790 | €0 | -€7,790 | -100% |
| Amounts payable | 17/49 | €61,607 | €105,165 | +€43,558 | +70.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €61,607 | €104,717 | +€43,110 | +70.0% |
| Current portion of amounts payable after more than one year | 42 | €31,509 | €0 | -€31,509 | -100% |
| Trade debts | 44 | €5,250 | €2,219 | -€3,031 | -57.7% |
| Suppliers | 440/4 | €5,250 | €2,219 | -€3,031 | -57.7% |
| Taxes, remuneration and social security | 45 | €16,601 | €20,764 | +€4,164 | +25.1% |
| Taxes | 450/3 | €16,601 | €20,764 | +€4,164 | +25.1% |
| Other amounts payable | 47/48 | €8,247 | €81,734 | +€73,487 | +891% |
| Accrued charges and deferred income | 492/3 | - | €448 | +€448 | |
| Non-recurring operating income | 76A | €10,629 | €0 | -€10,629 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €829 | €1,892 | +€1,064 | +128% |
| Other operating charges | 640/8 | €505 | €636 | +€130 | +25.8% |
| Gross operating margin | 9900 | €68,458 | €95,037 | +€26,579 | +38.8% |
| Operating profit (loss) | 9901 | €67,124 | €92,509 | +€25,385 | +37.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.1% |
| Financial charges | 65/66B | €2,397 | €4,840 | +€2,444 | +102% |
| Recurring financial charges | 65 | €2,397 | €4,840 | +€2,444 | +102% |
| Profit (loss) for the period before taxes | 9903 | €64,727 | €87,668 | +€22,941 | +35.4% |
| Income taxes | 67/77 | €2,835 | €19,361 | +€16,526 | +583% |
| Profit (loss) for the period | 9904 | €61,893 | €68,307 | +€6,415 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,893 | €68,307 | +€6,415 | +10.4% |
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 13 October 2026 via checked.be.