COLEN: 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.
What changed
COLEN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€33,040
2024 · -€73,799+€40,759
Equity
€3.4m
2024 · €3.4m-€33,040
Cash
€336
2024 · €22+€314
Balance sheet total
€7.0m
2024 · €6.9m+€151,873
Largest movements
Assets
- Tangible fixed assets +€162,857
up €162,857 (+2.4%), from €6.8m to €7.0m
of which Assets under construction and advance payments: +€162,857
Equity and liabilities
- Other debts +€113,990
up €113,990 (+5.9%), from €1.9m to €2.0m
Income statement
- Staff costs -€42,524
down €42,524 (-96.4%), from €44,090 to €1,566
- Gross operating margin -€1,858
down €1,858 (-7.5%), from -€24,930 to -€26,788
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
-€73,799
Gross operating margin
-€1,858
Staff costs
+€42,524
Other operating charges
+€114
Financial charges
-€21
Result 2025
-€33,040
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.
From operations
+€163,171
Investment
-€162,857
Financing
€0
Cash 2024
€22
From operations (derived)
+€163,171
Net result for the year
-€33,040
Depreciation
+€1,750
Receivables within one year
+€1,752
Deferred charges and accrued income
+€7,796
Trade debts
+€7,434
Other debts
+€113,990
Accrued charges and deferred income
+€63,489
Investment (derived)
-€162,857
Investment in fixed assets (net)
-€162,857
Cash 2025
€336
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,868,123 | €7,019,997 | +€151,873 | +2.2% |
| Formation expenses | 20 | €9,415 | €7,665 | -€1,750 | -18.6% |
| Fixed assets | 21/28 | €6,847,964 | €7,010,822 | +€162,857 | +2.4% |
| Tangible fixed assets | 22/27 | €6,847,964 | €7,010,822 | +€162,857 | +2.4% |
| Furniture and vehicles | 24 | €12,000 | €12,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €6,835,964 | €6,998,822 | +€162,857 | +2.4% |
| Current assets | 29/58 | €10,744 | €1,510 | -€9,234 | -85.9% |
| Amounts receivable within one year | 40/41 | €1,795 | €43 | -€1,752 | -97.6% |
| Other amounts receivable | 41 | €1,795 | €43 | -€1,752 | -97.6% |
| Cash at bank and in hand | 54/58 | €22 | €336 | +€314 | +1442.5% |
| Deferred charges and accrued income | 490/1 | €8,927 | €1,131 | -€7,796 | -87.3% |
| Total equity and liabilities | 10/49 | €6,868,123 | €7,019,997 | +€151,873 | +2.2% |
| Equity | 10/15 | €3,439,201 | €3,406,161 | -€33,040 | -1.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,232,000 | €3,232,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,799 | -€325,839 | -€33,040 | -11.3% |
| Amounts payable | 17/49 | €3,428,923 | €3,613,836 | +€184,913 | +5.4% |
| Amounts payable within one year | 42/48 | €3,428,923 | €3,550,346 | +€121,424 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €1,495,070 | €1,495,070 | = | 0.0% |
| Trade debts | 44 | €10,127 | €17,561 | +€7,434 | +73.4% |
| Suppliers | 440/4 | €10,127 | €17,561 | +€7,434 | +73.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,923,725 | €2,037,715 | +€113,990 | +5.9% |
| Accrued charges and deferred income | 492/3 | - | €63,489 | +€63,489 | |
| Remuneration, social security and pensions | 62 | €44,090 | €1,566 | -€42,524 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,750 | €1,750 | = | 0.0% |
| Other operating charges | 640/8 | €2,985 | €2,870 | -€114 | -3.8% |
| Gross operating margin | 9900 | -€24,930 | -€26,788 | -€1,858 | -7.5% |
| Operating profit (loss) | 9901 | -€73,755 | -€32,974 | +€40,780 | +55.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €44 | €65 | +€21 | +48.5% |
| Recurring financial charges | 65 | €44 | €65 | +€21 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | -€73,799 | -€33,040 | +€40,759 | +55.2% |
| Profit (loss) for the period | 9904 | -€73,799 | -€33,040 | +€40,759 | +55.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,799 | -€33,040 | +€40,759 | +55.2% |
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 7 October 2026 via checked.be.