Coqu: 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.
Coqu
Largest movements
- Tangible fixed assets +€461,036
up €461,036 (+567.5%), from €81,236 to €542,272
of which Land and buildings: +€401,517
- Intangible fixed assets +€251,482
up €251,482 (+7544.5%), from €3,333 to €254,815
- Cash +€14,840
up €14,840 (+144.7%), from €10,253 to €25,093
mainly Debts after one year (+€430,171) and Other debts (+€193,217)
- Debts after one year +€430,171
up €430,171 (+1509.6%), from €28,496 to €458,666
of which Financial debts: +€433,303
- Other debts +€193,217
new in 2025: €193,217
- Trade debts +€62,302
up €62,302 (+845.3%), from €7,370 to €69,672
- Current portion of long-term debt +€57,432
up €57,432 (+400.4%), from €14,345 to €71,777
- Reserves -€31,175
down €31,175 (-69.4%), from €44,926 to €13,751
- Depreciation +€31,559
up €31,559 (+434.0%), from €7,272 to €38,831
- Staff costs +€26,589
new in 2025: €26,589
- Financial charges +€13,452
up €13,452 (+324.3%), from €4,148 to €17,601
- Gross operating margin +€7,860
up €7,860 (+16.4%), from €48,003 to €55,863
- Taxes -€6,990
down €6,990 (-98.9%), from €7,064 to €74
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 | €118,133 | €846,056 | +€727,923 | +616.2% |
| Fixed assets | 21/28 | €88,569 | €797,087 | +€708,518 | +800.0% |
| Intangible fixed assets | 21 | €3,333 | €254,815 | +€251,482 | +7544.5% |
| Tangible fixed assets | 22/27 | €81,236 | €542,272 | +€461,036 | +567.5% |
| Land and buildings | 22 | €72,212 | €473,729 | +€401,517 | +556.0% |
| Plant, machinery and equipment | 23 | €5,554 | €27,854 | +€22,301 | +401.5% |
| Furniture and vehicles | 24 | €3,470 | €36,604 | +€33,134 | +954.8% |
| Other tangible fixed assets | 26 | - | €4,084 | +€4,084 | |
| Financial fixed assets | 28 | €4,000 | €0 | -€4,000 | -100.0% |
| Current assets | 29/58 | €29,564 | €48,969 | +€19,405 | +65.6% |
| Stocks and contracts in progress | 3 | €4,681 | €7,792 | +€3,111 | +66.5% |
| Stocks | 30/36 | €4,681 | €7,792 | +€3,111 | +66.5% |
| Amounts receivable within one year | 40/41 | €14,386 | €15,825 | +€1,440 | +10.0% |
| Trade receivables | 40 | €8,574 | €4,346 | -€4,228 | -49.3% |
| Other amounts receivable | 41 | €5,812 | €11,480 | +€5,668 | +97.5% |
| Cash at bank and in hand | 54/58 | €10,253 | €25,093 | +€14,840 | +144.7% |
| Deferred charges and accrued income | 490/1 | €244 | €258 | +€15 | +6.0% |
| Total equity and liabilities | 10/49 | €118,133 | €846,056 | +€727,923 | +616.2% |
| Equity | 10/15 | €51,926 | €20,751 | -€31,175 | -60.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €44,926 | €13,751 | -€31,175 | -69.4% |
| Distributable reserves | 133 | €44,926 | €13,751 | -€31,175 | -69.4% |
| Amounts payable | 17/49 | €66,207 | €825,304 | +€759,098 | +1146.6% |
| Amounts payable after more than one year | 17 | €28,496 | €458,666 | +€430,171 | +1509.6% |
| Financial debts | 170/4 | €25,364 | €458,666 | +€433,303 | +1708.3% |
| Other amounts payable | 178/9 | €3,132 | - | -€3,132 | |
| Amounts payable within one year | 42/48 | €37,576 | €366,593 | +€329,017 | +875.6% |
| Current portion of amounts payable after more than one year | 42 | €14,345 | €71,777 | +€57,432 | +400.4% |
| Financial debts | 43 | €8,014 | - | -€8,014 | |
| Credit institutions | 430/8 | €8,014 | - | -€8,014 | |
| Trade debts | 44 | €7,370 | €69,672 | +€62,302 | +845.3% |
| Suppliers | 440/4 | €7,370 | €69,672 | +€62,302 | +845.3% |
| Advances received on contracts in progress | 46 | - | €2,190 | +€2,190 | |
| Taxes, remuneration and social security | 45 | €7,846 | €29,737 | +€21,890 | +279.0% |
| Taxes | 450/3 | €1,177 | - | -€1,177 | |
| Remuneration and social security | 454/9 | €6,670 | €29,737 | +€23,067 | +345.9% |
| Other amounts payable | 47/48 | - | €193,217 | +€193,217 | |
| Accrued charges and deferred income | 492/3 | €135 | €45 | -€90 | -66.5% |
| Non-recurring operating income | 76A | - | €14,876 | +€14,876 | |
| Remuneration, social security and pensions | 62 | - | €26,589 | +€26,589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,272 | €38,831 | +€31,559 | +434.0% |
| Other operating charges | 640/8 | €2,198 | €4,653 | +€2,456 | +111.7% |
| Non-recurring operating charges | 66A | - | €4,760 | +€4,760 | |
| Gross operating margin | 9900 | €48,003 | €55,863 | +€7,860 | +16.4% |
| Operating profit (loss) | 9901 | €38,534 | -€18,971 | -€57,505 | |
| Financial income | 75/76B | €30 | €5,471 | +€5,441 | +18034.9% |
| Recurring financial income | 75 | €30 | €5,471 | +€5,441 | +18034.9% |
| Financial charges | 65/66B | €4,148 | €17,601 | +€13,452 | +324.3% |
| Recurring financial charges | 65 | €4,148 | €17,601 | +€13,452 | +324.3% |
| Profit (loss) for the period before taxes | 9903 | €34,416 | -€31,100 | -€65,516 | |
| Income taxes | 67/77 | €7,064 | €74 | -€6,990 | -98.9% |
| Profit (loss) for the period | 9904 | €27,351 | -€31,175 | -€58,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,351 | -€31,175 | -€58,526 |
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 5 October 2026 via checked.be.