COLS & MOREAU: 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.
COLS & MOREAU
Largest movements
- Tangible fixed assets +€18,692
up €18,692 (+3.9%), from €482,317 to €501,009
of which Land and buildings: +€23,187
- Cash +€16,017
up €16,017 (+48.3%), from €33,177 to €49,194
mainly Net result for the year (+€116,957) and Other debts (+€58,912)
- Other debts +€58,912
up €58,912 (+214%), from €27,500 to €86,412
- Debts after one year -€45,524
down €45,524 (-12.8%), from €356,096 to €310,571
- Reserves +€30,544
up €30,544 (+17.1%), from €178,621 to €209,165
- Tax, wage and social debts +€10,844
up €10,844 (+20.1%), from €54,041 to €64,885
of which Taxes: +€5,888
- Short-term financial debts -€10,000
down €10,000 (-100%), from €10,000 to €0
- Gross operating margin +€69,320
up €69,320 (+13.7%), from €505,830 to €575,151
- Staff costs +€16,829
up €16,829 (+5.2%), from €324,449 to €341,279
- Taxes +€11,883
up €11,883 (+31.3%), from €37,955 to €49,838
- Depreciation +€10,290
up €10,290 (+27.1%), from €37,997 to €48,287
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 | €764,120 | €799,966 | +€35,847 | +4.7% |
| Fixed assets | 21/28 | €487,291 | €510,916 | +€23,625 | +4.8% |
| Intangible fixed assets | 21 | €4,974 | €9,907 | +€4,933 | +99.2% |
| Tangible fixed assets | 22/27 | €482,317 | €501,009 | +€18,692 | +3.9% |
| Land and buildings | 22 | €383,160 | €406,347 | +€23,187 | +6.1% |
| Plant, machinery and equipment | 23 | €33,353 | €38,509 | +€5,155 | +15.5% |
| Furniture and vehicles | 24 | €8,197 | €11,471 | +€3,274 | +39.9% |
| Leasing and similar rights | 25 | €48,555 | €36,963 | -€11,593 | -23.9% |
| Other tangible fixed assets | 26 | €9,051 | €7,719 | -€1,332 | -14.7% |
| Current assets | 29/58 | €276,829 | €289,051 | +€12,222 | +4.4% |
| Amounts receivable within one year | 40/41 | €239,546 | €235,283 | -€4,263 | -1.8% |
| Trade receivables | 40 | €213,283 | €204,335 | -€8,949 | -4.2% |
| Other amounts receivable | 41 | €26,262 | €30,949 | +€4,686 | +17.8% |
| Cash at bank and in hand | 54/58 | €33,177 | €49,194 | +€16,017 | +48.3% |
| Deferred charges and accrued income | 490/1 | €4,106 | €4,573 | +€467 | +11.4% |
| Total equity and liabilities | 10/49 | €764,120 | €799,966 | +€35,847 | +4.7% |
| Equity | 10/15 | €198,621 | €229,165 | +€30,544 | +15.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €178,621 | €209,165 | +€30,544 | +17.1% |
| Distributable reserves | 133 | €178,621 | €209,165 | +€30,544 | +17.1% |
| Amounts payable | 17/49 | €565,499 | €570,801 | +€5,303 | +0.9% |
| Amounts payable after more than one year | 17 | €356,096 | €310,571 | -€45,524 | -12.8% |
| Financial debts | 170/4 | €356,096 | €310,571 | -€45,524 | -12.8% |
| Amounts payable within one year | 42/48 | €206,903 | €257,730 | +€50,827 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €58,167 | €53,440 | -€4,727 | -8.1% |
| Financial debts | 43 | €10,000 | €0 | -€10,000 | -100% |
| Credit institutions | 430/8 | €10,000 | €0 | -€10,000 | -100% |
| Trade debts | 44 | €57,195 | €52,994 | -€4,202 | -7.3% |
| Suppliers | 440/4 | €57,161 | €52,959 | -€4,202 | -7.4% |
| Bills of exchange payable | 441 | €35 | €35 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €54,041 | €64,885 | +€10,844 | +20.1% |
| Taxes | 450/3 | €15,356 | €21,244 | +€5,888 | +38.3% |
| Remuneration and social security | 454/9 | €38,685 | €43,640 | +€4,955 | +12.8% |
| Other amounts payable | 47/48 | €27,500 | €86,412 | +€58,912 | +214% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €324,449 | €341,279 | +€16,829 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,997 | €48,287 | +€10,290 | +27.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €811 | - | -€811 | |
| Other operating charges | 640/8 | €3,302 | €9,000 | +€5,698 | +173% |
| Gross operating margin | 9900 | €505,830 | €575,151 | +€69,320 | +13.7% |
| Operating profit (loss) | 9901 | €139,270 | €176,584 | +€37,314 | +26.8% |
| Financial income | 75/76B | €1,381 | €3,064 | +€1,683 | +122% |
| Recurring financial income | 75 | €1,381 | €3,064 | +€1,683 | +122% |
| Financial charges | 65/66B | €12,487 | €12,853 | +€366 | +2.9% |
| Recurring financial charges | 65 | €12,487 | €12,853 | +€366 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €128,164 | €166,795 | +€38,631 | +30.1% |
| Income taxes | 67/77 | €37,955 | €49,838 | +€11,883 | +31.3% |
| Profit (loss) for the period | 9904 | €90,208 | €116,957 | +€26,748 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,208 | €116,957 | +€26,748 | +29.7% |
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 18 October 2026 via checked.be.