Coudenys: 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.
Coudenys
Largest movements
- Current investments +€500,000
up €500,000 (+33.3%), from €1.5m to €2.0m
- Tangible fixed assets -€82,974
down €82,974 (-14.6%), from €566,555 to €483,581
of which Plant, machinery and equipment: -€65,349
- Cash +€64,114
up €64,114 (+2.8%), from €2.3m to €2.3m
mainly Net result for the year (+€1.2m) and Tax, wage and social debts (+€206,566)
- Reserves +€580,831
up €580,831 (+16.0%), from €3.6m to €4.2m
of which Distributable reserves: +€580,831
- Trade debts -€210,152
down €210,152 (-63.1%), from €333,155 to €123,003
- Tax, wage and social debts +€206,566
up €206,566 (+212.2%), from €97,342 to €303,909
of which Taxes: +€225,435
- Debts after one year -€54,584
down €54,584 (-38.4%), from €142,248 to €87,664
- Gross operating margin +€218,598
up €218,598 (+7.1%), from €3.1m to €3.3m
- Taxes +€74,044
up €74,044 (+15.1%), from €490,492 to €564,537
- Other operating charges +€62,103
up €62,103 (+6.1%), from €1.0m to €1.1m
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 | €4,419,593 | €4,919,718 | +€500,125 | +11.3% |
| Fixed assets | 21/28 | €566,555 | €483,581 | -€82,974 | -14.6% |
| Tangible fixed assets | 22/27 | €566,555 | €483,581 | -€82,974 | -14.6% |
| Land and buildings | 22 | €30,924 | €30,739 | -€185 | -0.6% |
| Plant, machinery and equipment | 23 | €476,908 | €411,559 | -€65,349 | -13.7% |
| Furniture and vehicles | 24 | €58,723 | €41,283 | -€17,440 | -29.7% |
| Current assets | 29/58 | €3,853,038 | €4,436,136 | +€583,099 | +15.1% |
| Amounts receivable within one year | 40/41 | €68,529 | €76,505 | +€7,976 | +11.6% |
| Trade receivables | 40 | €61,446 | €76,505 | +€15,059 | +24.5% |
| Other amounts receivable | 41 | €7,083 | €0 | -€7,083 | -100.0% |
| Current investments | 50/53 | €1,500,000 | €2,000,000 | +€500,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €2,282,553 | €2,346,666 | +€64,114 | +2.8% |
| Deferred charges and accrued income | 490/1 | €1,956 | €12,965 | +€11,009 | +562.7% |
| Total equity and liabilities | 10/49 | €4,419,593 | €4,919,718 | +€500,125 | +11.3% |
| Equity | 10/15 | €3,693,262 | €4,274,093 | +€580,831 | +15.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,631,011 | €4,211,843 | +€580,831 | +16.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €3,606,061 | €4,186,893 | +€580,831 | +16.1% |
| Profit (loss) carried forward | 14 | €251 | €251 | = | 0.0% |
| Amounts payable | 17/49 | €726,331 | €645,624 | -€80,707 | -11.1% |
| Amounts payable after more than one year | 17 | €142,248 | €87,664 | -€54,584 | -38.4% |
| Financial debts | 170/4 | €142,248 | €87,664 | -€54,584 | -38.4% |
| Amounts payable within one year | 42/48 | €584,083 | €557,960 | -€26,122 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €58,326 | €54,584 | -€3,742 | -6.4% |
| Trade debts | 44 | €333,155 | €123,003 | -€210,152 | -63.1% |
| Suppliers | 440/4 | €333,155 | €123,003 | -€210,152 | -63.1% |
| Taxes, remuneration and social security | 45 | €97,342 | €303,909 | +€206,566 | +212.2% |
| Taxes | 450/3 | €44,317 | €269,753 | +€225,435 | +508.7% |
| Remuneration and social security | 454/9 | €53,025 | €34,156 | -€18,869 | -35.6% |
| Other amounts payable | 47/48 | €95,260 | €76,465 | -€18,795 | -19.7% |
| Remuneration, social security and pensions | 62 | €397,952 | €376,720 | -€21,232 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,605 | €82,974 | -€631 | -0.8% |
| Other operating charges | 640/8 | €1,011,276 | €1,073,378 | +€62,103 | +6.1% |
| Gross operating margin | 9900 | €3,083,257 | €3,301,855 | +€218,598 | +7.1% |
| Operating profit (loss) | 9901 | €1,590,425 | €1,768,783 | +€178,358 | +11.2% |
| Financial income | 75/76B | €40,180 | €52,810 | +€12,630 | +31.4% |
| Recurring financial income | 75 | €40,180 | €52,810 | +€12,630 | +31.4% |
| Financial charges | 65/66B | €28,414 | €22,768 | -€5,646 | -19.9% |
| Recurring financial charges | 65 | €28,414 | €22,768 | -€5,646 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €1,602,191 | €1,798,824 | +€196,634 | +12.3% |
| Income taxes | 67/77 | €490,492 | €564,537 | +€74,044 | +15.1% |
| Profit (loss) for the period | 9904 | €1,111,698 | €1,234,288 | +€122,589 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,111,698 | €1,234,288 | +€122,589 | +11.0% |
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 3 October 2026 via checked.be.