COLEX: 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.
COLEX
Largest movements
- Current investments -€300,000
down €300,000 (-37.5%), from €800,000 to €500,000
- Cash +€241,471
up €241,471 (+77.2%), from €312,791 to €554,262
mainly Current investments (+€300,000) and Net result for the year (+€173,226)
- Receivables within one year +€164,491
up €164,491 (+44.5%), from €369,893 to €534,383
of which Trade receivables: +€165,702
- Reserves +€53,000
up €53,000 (+4.6%), from €1.2m to €1.2m
of which Distributable reserves: +€53,000
- Tax, wage and social debts +€17,914
up €17,914 (+45.9%), from €39,029 to €56,943
of which Taxes: +€17,830
- Accrued charges and deferred income +€16,848
up €16,848 (+107.6%), from €15,662 to €32,511
- Gross operating margin +€49,947
up €49,947 (+16.5%), from €301,999 to €351,946
- Taxes +€15,227
up €15,227 (+25.6%), from €59,593 to €74,820
- Staff costs +€10,240
up €10,240 (+10.3%), from €99,875 to €110,115
- Other operating charges -€5,388
down €5,388 (-61.6%), from €8,749 to €3,361
- Depreciation -€3,768
down €3,768 (-26.8%), from €14,050 to €10,282
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 | €1,513,218 | €1,609,481 | +€96,263 | +6.4% |
| Fixed assets | 21/28 | €28,938 | €18,656 | -€10,282 | -35.5% |
| Tangible fixed assets | 22/27 | €28,938 | €18,656 | -€10,282 | -35.5% |
| Furniture and vehicles | 24 | €17,217 | €11,871 | -€5,345 | -31.0% |
| Other tangible fixed assets | 26 | €11,721 | €6,785 | -€4,936 | -42.1% |
| Current assets | 29/58 | €1,484,281 | €1,590,825 | +€106,544 | +7.2% |
| Amounts receivable within one year | 40/41 | €369,893 | €534,383 | +€164,491 | +44.5% |
| Trade receivables | 40 | €368,682 | €534,383 | +€165,702 | +44.9% |
| Other amounts receivable | 41 | €1,211 | - | -€1,211 | |
| Current investments | 50/53 | €800,000 | €500,000 | -€300,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €312,791 | €554,262 | +€241,471 | +77.2% |
| Deferred charges and accrued income | 490/1 | €1,597 | €2,179 | +€582 | +36.4% |
| Total equity and liabilities | 10/49 | €1,513,218 | €1,609,481 | +€96,263 | +6.4% |
| Equity | 10/15 | €1,178,309 | €1,231,535 | +€53,226 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,156,610 | €1,209,610 | +€53,000 | +4.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,136,000 | €1,189,000 | +€53,000 | +4.7% |
| Profit (loss) carried forward | 14 | €3,099 | €3,325 | +€226 | +7.3% |
| Amounts payable | 17/49 | €334,910 | €377,946 | +€43,036 | +12.9% |
| Amounts payable within one year | 42/48 | €319,247 | €345,435 | +€26,188 | +8.2% |
| Trade debts | 44 | €119,864 | €113,006 | -€6,858 | -5.7% |
| Suppliers | 440/4 | €119,864 | €113,006 | -€6,858 | -5.7% |
| Taxes, remuneration and social security | 45 | €39,029 | €56,943 | +€17,914 | +45.9% |
| Taxes | 450/3 | €20,276 | €38,107 | +€17,830 | +87.9% |
| Remuneration and social security | 454/9 | €18,752 | €18,836 | +€84 | +0.4% |
| Other amounts payable | 47/48 | €160,355 | €175,487 | +€15,132 | +9.4% |
| Accrued charges and deferred income | 492/3 | €15,662 | €32,511 | +€16,848 | +107.6% |
| Remuneration, social security and pensions | 62 | €99,875 | €110,115 | +€10,240 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,050 | €10,282 | -€3,768 | -26.8% |
| Other operating charges | 640/8 | €8,749 | €3,361 | -€5,388 | -61.6% |
| Gross operating margin | 9900 | €301,999 | €351,946 | +€49,947 | +16.5% |
| Operating profit (loss) | 9901 | €179,326 | €228,188 | +€48,862 | +27.2% |
| Financial income | 75/76B | €22,323 | €21,164 | -€1,159 | -5.2% |
| Recurring financial income | 75 | €22,323 | €21,164 | -€1,159 | -5.2% |
| Financial charges | 65/66B | €1,132 | €1,305 | +€173 | +15.3% |
| Recurring financial charges | 65 | €1,132 | €1,305 | +€173 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €200,517 | €248,047 | +€47,530 | +23.7% |
| Income taxes | 67/77 | €59,593 | €74,820 | +€15,227 | +25.6% |
| Profit (loss) for the period | 9904 | €140,923 | €173,226 | +€32,303 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €140,923 | €173,226 | +€32,303 | +22.9% |
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 11 October 2026 via checked.be.