COLSAN: 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.
What changed
COLSAN
NACE 46.851, Wholesale of industrial chemicals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€293,372
2024 · €47,102+€246,270
Equity
€1.2m
2024 · €916,865+€293,372
Cash
€15,953
2024 · €23,832-€7,879
Balance sheet total
€5.4m
2024 · €1.8m+€3.6m
Largest movements
Assets
- Receivables within one year +€3.8m
up €3.8m (+322%), from €1.2m to €5.0m
of which Trade receivables: +€3.8m
- Stocks and contracts -€176,605
down €176,605 (-34.8%), from €507,028 to €330,423
Equity and liabilities
- Other debts +€2.9m
up €2.9m (+3,327%), from €87,647 to €3.0m
- Accrued charges and deferred income +€519,589
up €519,589 (+28,300%), from €1,836 to €521,425
- Profit (loss) carried forward +€293,372
up €293,372 (+62.5%), from €469,365 to €762,737
- Trade debts -€159,063
down €159,063 (-25.7%), from €619,414 to €460,351
- Tax, wage and social debts +€102,925
up €102,925 (+147%), from €69,972 to €172,897
of which Taxes: +€99,478
Income statement
- Gross operating margin +€385,735
up €385,735 (+67.6%), from €570,937 to €956,672
- Taxes +€88,236
up €88,236 (+390%), from €22,636 to €110,872
- Staff costs +€42,887
up €42,887 (+9.5%), from €452,607 to €495,494
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
€47,102
Gross operating margin
+€385,735
Staff costs
-€42,887
Depreciation
-€8,564
Other operating charges
-€491
Other operating items
-€4,185
Financial income
-€675
Financial charges
+€5,572
Taxes
-€88,236
Result 2025
€293,372
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€65,991
Investment
-€1
Financing
-€73,870
Cash 2024
€23,832
From operations (derived)
+€65,991
Net result for the year
+€293,372
Depreciation
+€33,854
Stocks and contracts
+€176,605
Receivables within one year
-€3.8m
Smaller working-capital items
-€372
Trade debts
-€159,063
Tax, wage and social debts
+€102,925
Other debts
+€2.9m
Accrued charges and deferred income
+€519,589
Investment (derived)
-€1
Investment in fixed assets (net)
-€1
Financing
-€73,870
Debts after one year
-€19,796
Current portion of long-term debt
-€71,069
Short-term financial debts
+€16,995
Contributions, distributions and other
+€0
Cash 2025
€15,953
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,839,526 | €5,441,747 | +€3.6m | +196% |
| Fixed assets | 21/28 | €123,139 | €89,286 | -€33,853 | -27.5% |
| Tangible fixed assets | 22/27 | €123,139 | €89,286 | -€33,853 | -27.5% |
| Plant, machinery and equipment | 23 | €34,670 | €23,697 | -€10,973 | -31.7% |
| Furniture and vehicles | 24 | €68,079 | €51,148 | -€16,931 | -24.9% |
| Leasing and similar rights | 25 | €20,390 | €14,441 | -€5,949 | -29.2% |
| Current assets | 29/58 | €1,716,387 | €5,352,461 | +€3.6m | +212% |
| Stocks and contracts in progress | 3 | €507,028 | €330,423 | -€176,605 | -34.8% |
| Stocks | 30/36 | €507,028 | €330,423 | -€176,605 | -34.8% |
| Amounts receivable within one year | 40/41 | €1,184,791 | €5,001,566 | +€3.8m | +322% |
| Trade receivables | 40 | €1,141,791 | €4,972,756 | +€3.8m | +336% |
| Other amounts receivable | 41 | €43,000 | €28,811 | -€14,189 | -33.0% |
| Cash at bank and in hand | 54/58 | €23,832 | €15,953 | -€7,879 | -33.1% |
| Deferred charges and accrued income | 490/1 | €736 | €4,520 | +€3,784 | +514% |
| Total equity and liabilities | 10/49 | €1,839,526 | €5,441,747 | +€3.6m | +196% |
| Equity | 10/15 | €916,865 | €1,210,237 | +€293,372 | +32.0% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Capital | 10 | €225,000 | €225,000 | = | 0.0% |
| Issued capital | 100 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €222,500 | €222,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,500 | €22,500 | = | 0.0% |
| Legal reserve | 130 | €22,500 | €22,500 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €469,365 | €762,737 | +€293,372 | +62.5% |
| Amounts payable | 17/49 | €922,661 | €4,231,510 | +€3.3m | +359% |
| Amounts payable after more than one year | 17 | €52,927 | €33,131 | -€19,796 | -37.4% |
| Financial debts | 170/4 | €52,927 | €33,131 | -€19,796 | -37.4% |
| Amounts payable within one year | 42/48 | €867,898 | €3,676,954 | +€2.8m | +324% |
| Current portion of amounts payable after more than one year | 42 | €90,865 | €19,796 | -€71,069 | -78.2% |
| Financial debts | 43 | - | €16,995 | +€16,995 | |
| Credit institutions | 430/8 | - | €16,995 | +€16,995 | |
| Trade debts | 44 | €619,414 | €460,351 | -€159,063 | -25.7% |
| Suppliers | 440/4 | €619,414 | €460,351 | -€159,063 | -25.7% |
| Advances received on contracts in progress | 46 | - | €3,412 | +€3,412 | |
| Taxes, remuneration and social security | 45 | €69,972 | €172,897 | +€102,925 | +147% |
| Taxes | 450/3 | €34,030 | €133,508 | +€99,478 | +292% |
| Remuneration and social security | 454/9 | €35,942 | €39,390 | +€3,448 | +9.6% |
| Other amounts payable | 47/48 | €87,647 | €3,003,504 | +€2.9m | +3,327% |
| Accrued charges and deferred income | 492/3 | €1,836 | €521,425 | +€519,589 | +28,300% |
| Non-recurring operating income | 76A | - | €209 | +€209 | |
| Remuneration, social security and pensions | 62 | €452,607 | €495,494 | +€42,887 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,290 | €33,854 | +€8,564 | +33.9% |
| Other operating charges | 640/8 | €16,137 | €16,628 | +€491 | +3.0% |
| Non-recurring operating charges | 66A | - | €4,185 | +€4,185 | |
| Gross operating margin | 9900 | €570,937 | €956,672 | +€385,735 | +67.6% |
| Operating profit (loss) | 9901 | €76,903 | €406,512 | +€329,609 | +429% |
| Financial income | 75/76B | €2,342 | €1,667 | -€675 | -28.8% |
| Recurring financial income | 75 | €2,342 | €1,667 | -€675 | -28.8% |
| Financial charges | 65/66B | €9,507 | €3,935 | -€5,572 | -58.6% |
| Recurring financial charges | 65 | €9,507 | €3,935 | -€5,572 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | €69,738 | €404,244 | +€334,506 | +480% |
| Income taxes | 67/77 | €22,636 | €110,872 | +€88,236 | +390% |
| Profit (loss) for the period | 9904 | €47,102 | €293,372 | +€246,270 | +523% |
| Profit (loss) for the period to be appropriated | 9905 | €47,102 | €293,372 | +€246,270 | +523% |
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 1 November 2026 via checked.be.