COQARDENNE: 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.
COQARDENNE
Largest movements
- Financial fixed assets +€260,000
up €260,000 (+25.2%), from €1.0m to €1.3m
- Receivables within one year -€150,064
down €150,064 (-6.4%), from €2.4m to €2.2m
of which Trade receivables: -€121,231
- Cash -€47,562
down €47,562 (-48.2%), from €98,727 to €51,165
- Debts after one year +€1.0m
up €1.0m (+121%), from €857,000 to €1.9m
- Trade debts -€917,733
down €917,733 (-32.6%), from €2.8m to €1.9m
- Contributions +€857,000
up €857,000 (+304%), from €282,000 to €1.1m
- Profit (loss) carried forward -€688,682
down €688,682 (-105%), from -€655,883 to -€1.3m
- Other debts -€180,510
down €180,510 (-97.5%), from €185,200 to €4,690
- Gross operating margin -€391,381
down €391,381 (-77.8%), from €502,933 to €111,552
- Staff costs +€88,308
up €88,308 (+39.0%), from €226,396 to €314,704
- Other operating charges +€73,332
up €73,332 (+19.9%), from €369,382 to €442,714
- Depreciation +€25,346
up €25,346 (+174%), from €14,591 to €39,936
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,558,410 | €3,613,847 | +€55,438 | +1.6% |
| Fixed assets | 21/28 | €1,108,498 | €1,361,562 | +€253,064 | +22.8% |
| Tangible fixed assets | 22/27 | €77,597 | €70,660 | -€6,936 | -8.9% |
| Plant, machinery and equipment | 23 | €57,262 | €63,439 | +€6,177 | +10.8% |
| Furniture and vehicles | 24 | €20,335 | €7,221 | -€13,114 | -64.5% |
| Financial fixed assets | 28 | €1,030,901 | €1,290,901 | +€260,000 | +25.2% |
| Current assets | 29/58 | €2,449,912 | €2,252,286 | -€197,626 | -8.1% |
| Amounts receivable within one year | 40/41 | €2,351,184 | €2,201,121 | -€150,064 | -6.4% |
| Trade receivables | 40 | €2,292,696 | €2,171,465 | -€121,231 | -5.3% |
| Other amounts receivable | 41 | €58,488 | €29,655 | -€28,833 | -49.3% |
| Cash at bank and in hand | 54/58 | €98,727 | €51,165 | -€47,562 | -48.2% |
| Total equity and liabilities | 10/49 | €3,558,410 | €3,613,847 | +€55,438 | +1.6% |
| Equity | 10/15 | -€373,883 | -€205,565 | +€168,318 | +45.0% |
| Contributions | 10/11 | €282,000 | €1,139,000 | +€857,000 | +304% |
| Capital | 10 | €282,000 | €1,139,000 | +€857,000 | +304% |
| Issued capital | 100 | €282,000 | €1,139,000 | +€857,000 | +304% |
| Profit (loss) carried forward | 14 | -€655,883 | -€1,344,565 | -€688,682 | -105% |
| Amounts payable | 17/49 | €3,932,293 | €3,819,412 | -€112,881 | -2.9% |
| Amounts payable after more than one year | 17 | €857,000 | €1,894,320 | +€1.0m | +121% |
| Financial debts | 170/4 | €857,000 | €1,894,320 | +€1.0m | +121% |
| Amounts payable within one year | 42/48 | €3,075,293 | €1,925,092 | -€1.2m | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €26,677 | - | -€26,677 | |
| Trade debts | 44 | €2,814,127 | €1,896,394 | -€917,733 | -32.6% |
| Suppliers | 440/4 | €2,814,127 | €1,896,394 | -€917,733 | -32.6% |
| Taxes, remuneration and social security | 45 | €49,288 | €24,008 | -€25,280 | -51.3% |
| Taxes | 450/3 | €4,266 | €439 | -€3,827 | -89.7% |
| Remuneration and social security | 454/9 | €45,022 | €23,569 | -€21,453 | -47.7% |
| Other amounts payable | 47/48 | €185,200 | €4,690 | -€180,510 | -97.5% |
| Remuneration, social security and pensions | 62 | €226,396 | €314,704 | +€88,308 | +39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,591 | €39,936 | +€25,346 | +174% |
| Other operating charges | 640/8 | €369,382 | €442,714 | +€73,332 | +19.9% |
| Non-recurring operating charges | 66A | €0 | €0 | +€0 | +800% |
| Gross operating margin | 9900 | €502,933 | €111,552 | -€391,381 | -77.8% |
| Operating profit (loss) | 9901 | -€107,435 | -€685,802 | -€578,366 | -538% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,308 | €2,428 | +€120 | +5.2% |
| Recurring financial charges | 65 | €2,308 | €2,428 | +€120 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€109,744 | -€688,230 | -€578,486 | -527% |
| Income taxes | 67/77 | €302 | €452 | +€150 | +49.7% |
| Profit (loss) for the period | 9904 | -€110,045 | -€688,682 | -€578,636 | -526% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,045 | -€688,682 | -€578,636 | -526% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.