COLINATEUR: 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.
COLINATEUR
Largest movements
- Tangible fixed assets +€770,318
up €770,318 (+67.5%), from €1.1m to €1.9m
of which Assets under construction and advance payments: +€509,740
- Cash +€84,971
up €84,971 (+29.7%), from €286,530 to €371,501
mainly Debts after one year (+€446,416) and Net result for the year (+€244,635)
- Receivables within one year +€38,230
up €38,230 (+171.8%), from €22,259 to €60,490
- Debts after one year +€446,416
up €446,416 (+61.7%), from €723,739 to €1.2m
- Reserves +€244,635
up €244,635 (+77.8%), from €314,623 to €559,258
of which Distributable reserves: +€244,635
- Current portion of long-term debt +€130,176
up €130,176 (+187.7%), from €69,356 to €199,532
- Trade debts +€117,087
up €117,087 (+1733.3%), from €6,755 to €123,843
- Other debts -€50,000
down €50,000 (-20.0%), from €250,074 to €200,074
- Financial charges +€13,780
up €13,780 (+68.6%), from €20,095 to €33,876
- Depreciation +€13,559
up €13,559 (+13.9%), from €97,329 to €110,888
- Taxes -€6,420
down €6,420 (-7.3%), from €87,965 to €81,545
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 | €1,454,949 | €2,343,657 | +€888,707 | +61.1% |
| Fixed assets | 21/28 | €1,141,349 | €1,911,667 | +€770,318 | +67.5% |
| Tangible fixed assets | 22/27 | €1,141,225 | €1,911,543 | +€770,318 | +67.5% |
| Land and buildings | 22 | €106,028 | €100,356 | -€5,672 | -5.3% |
| Plant, machinery and equipment | 23 | €778,641 | €1,044,891 | +€266,250 | +34.2% |
| Assets under construction and advance payments | 27 | €256,556 | €766,296 | +€509,740 | +198.7% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €313,601 | €431,990 | +€118,390 | +37.8% |
| Amounts receivable within one year | 40/41 | €22,259 | €60,490 | +€38,230 | +171.8% |
| Other amounts receivable | 41 | €22,259 | €60,490 | +€38,230 | +171.8% |
| Cash at bank and in hand | 54/58 | €286,530 | €371,501 | +€84,971 | +29.7% |
| Deferred charges and accrued income | 490/1 | €4,811 | - | -€4,811 | |
| Total equity and liabilities | 10/49 | €1,454,949 | €2,343,657 | +€888,707 | +61.1% |
| Equity | 10/15 | €376,123 | €620,758 | +€244,635 | +65.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €314,623 | €559,258 | +€244,635 | +77.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €308,473 | €553,108 | +€244,635 | +79.3% |
| Provisions and deferred taxes | 16 | €28,054 | €28,054 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €28,054 | €28,054 | = | 0.0% |
| Pensions and similar obligations | 160 | €28,054 | €28,054 | = | 0.0% |
| Amounts payable | 17/49 | €1,050,773 | €1,694,845 | +€644,073 | +61.3% |
| Amounts payable after more than one year | 17 | €723,739 | €1,170,155 | +€446,416 | +61.7% |
| Financial debts | 170/4 | €723,739 | €1,170,155 | +€446,416 | +61.7% |
| Amounts payable within one year | 42/48 | €326,963 | €524,619 | +€197,656 | +60.5% |
| Current portion of amounts payable after more than one year | 42 | €69,356 | €199,532 | +€130,176 | +187.7% |
| Financial debts | 43 | €778 | €1,171 | +€393 | +50.5% |
| Credit institutions | 430/8 | €778 | €1,171 | +€393 | +50.5% |
| Trade debts | 44 | €6,755 | €123,843 | +€117,087 | +1733.3% |
| Suppliers | 440/4 | €6,755 | €123,843 | +€117,087 | +1733.3% |
| Other amounts payable | 47/48 | €250,074 | €200,074 | -€50,000 | -20.0% |
| Accrued charges and deferred income | 492/3 | €71 | €71 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,329 | €110,888 | +€13,559 | +13.9% |
| Other operating charges | 640/8 | €16,669 | €17,193 | +€524 | +3.1% |
| Gross operating margin | 9900 | €485,955 | €488,136 | +€2,181 | +0.4% |
| Operating profit (loss) | 9901 | €371,957 | €360,055 | -€11,902 | -3.2% |
| Financial charges | 65/66B | €20,095 | €33,876 | +€13,780 | +68.6% |
| Recurring financial charges | 65 | €20,095 | €33,876 | +€13,780 | +68.6% |
| Profit (loss) for the period before taxes | 9903 | €351,862 | €326,180 | -€25,682 | -7.3% |
| Income taxes | 67/77 | €87,965 | €81,545 | -€6,420 | -7.3% |
| Profit (loss) for the period | 9904 | €263,896 | €244,635 | -€19,261 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €263,896 | €244,635 | -€19,261 | -7.3% |
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 6 October 2026 via checked.be.