COUDIS: 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.
COUDIS
Largest movements
- Cash -€415,352
down €415,352 (-29.5%), from €1.4m to €992,387
mainly Trade debts (-€616,463) and Debts after one year (-€326,917)
- Receivables within one year -€381,706
down €381,706 (-79.9%), from €477,703 to €95,997
of which Trade receivables: -€246,415
- Tangible fixed assets -€250,839
down €250,839 (-10.2%), from €2.5m to €2.2m
- Intangible fixed assets -€107,591
down €107,591 (-22.2%), from €485,006 to €377,415
- Receivables after one year +€90,000
new in 2025: €90,000
- Trade debts -€616,463
down €616,463 (-30.0%), from €2.1m to €1.4m
- Debts after one year -€326,917
down €326,917 (-15.2%), from €2.1m to €1.8m
- Tax, wage and social debts -€83,532
down €83,532 (-24.0%), from €348,601 to €265,069
of which Remuneration and social security: -€83,164
- Current portion of long-term debt +€68,681
up €68,681 (+25.0%), from €274,307 to €342,988
- Staff costs -€824,177
down €824,177 (-32.4%), from €2.5m to €1.7m
- Gross operating margin -€701,961
down €701,961 (-22.6%), from €3.1m to €2.4m
- Depreciation +€90,538
up €90,538 (+24.6%), from €367,954 to €458,492
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 | €5,657,260 | €4,648,947 | -€1.0m | -17.8% |
| Formation expenses | 20 | €45,030 | €35,003 | -€10,027 | -22.3% |
| Fixed assets | 21/28 | €2,944,111 | €2,587,181 | -€356,930 | -12.1% |
| Intangible fixed assets | 21 | €485,006 | €377,415 | -€107,591 | -22.2% |
| Tangible fixed assets | 22/27 | €2,459,105 | €2,208,266 | -€250,839 | -10.2% |
| Land and buildings | 22 | €806,673 | €719,381 | -€87,292 | -10.8% |
| Plant, machinery and equipment | 23 | €1,082,553 | €1,008,111 | -€74,442 | -6.9% |
| Furniture and vehicles | 24 | €569,879 | €480,774 | -€89,105 | -15.6% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €2,668,118 | €2,026,762 | -€641,356 | -24.0% |
| Amounts receivable after more than one year | 29 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 291 | - | €90,000 | +€90,000 | |
| Stocks and contracts in progress | 3 | €711,498 | €736,949 | +€25,451 | +3.6% |
| Stocks | 30/36 | €711,498 | €736,949 | +€25,451 | +3.6% |
| Amounts receivable within one year | 40/41 | €477,703 | €95,997 | -€381,706 | -79.9% |
| Trade receivables | 40 | €280,401 | €33,986 | -€246,415 | -87.9% |
| Other amounts receivable | 41 | €197,302 | €62,010 | -€135,292 | -68.6% |
| Cash at bank and in hand | 54/58 | €1,407,739 | €992,387 | -€415,352 | -29.5% |
| Deferred charges and accrued income | 490/1 | €71,178 | €111,430 | +€40,252 | +56.6% |
| Total equity and liabilities | 10/49 | €5,657,260 | €4,648,947 | -€1.0m | -17.8% |
| Equity | 10/15 | €103,665 | €67,973 | -€35,691 | -34.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,335 | -€82,027 | -€35,691 | -77.0% |
| Amounts payable | 17/49 | €5,553,595 | €4,580,973 | -€972,622 | -17.5% |
| Amounts payable after more than one year | 17 | €2,144,089 | €1,817,172 | -€326,917 | -15.2% |
| Financial debts | 170/4 | €2,144,089 | €1,817,172 | -€326,917 | -15.2% |
| Amounts payable within one year | 42/48 | €3,390,676 | €2,759,361 | -€631,315 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €274,307 | €342,988 | +€68,681 | +25.0% |
| Financial debts | 43 | €713,267 | €713,267 | = | 0.0% |
| Other loans | 439 | €713,267 | €713,267 | = | 0.0% |
| Trade debts | 44 | €2,054,500 | €1,438,037 | -€616,463 | -30.0% |
| Suppliers | 440/4 | €2,054,500 | €1,438,037 | -€616,463 | -30.0% |
| Taxes, remuneration and social security | 45 | €348,601 | €265,069 | -€83,532 | -24.0% |
| Taxes | 450/3 | €393 | €25 | -€368 | -93.7% |
| Remuneration and social security | 454/9 | €348,209 | €265,044 | -€83,164 | -23.9% |
| Accrued charges and deferred income | 492/3 | €18,830 | €4,440 | -€14,391 | -76.4% |
| Non-recurring operating income | 76A | €851,068 | €168,010 | -€683,058 | -80.3% |
| Remuneration, social security and pensions | 62 | €2,546,264 | €1,722,087 | -€824,177 | -32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367,954 | €458,492 | +€90,538 | +24.6% |
| Other operating charges | 640/8 | €61,648 | €59,835 | -€1,813 | -2.9% |
| Non-recurring operating charges | 66A | €2,000 | €779 | -€1,221 | -61.0% |
| Gross operating margin | 9900 | €3,106,953 | €2,404,991 | -€701,961 | -22.6% |
| Operating profit (loss) | 9901 | €129,087 | €163,798 | +€34,711 | +26.9% |
| Financial income | 75/76B | €9,452 | €1,245 | -€8,206 | -86.8% |
| Recurring financial income | 75 | €9,452 | €1,245 | -€8,206 | -86.8% |
| Financial charges | 65/66B | €184,481 | €200,527 | +€16,046 | +8.7% |
| Recurring financial charges | 65 | €184,481 | €167,219 | -€17,262 | -9.4% |
| Non-recurring financial charges | 66B | - | €33,309 | +€33,309 | |
| Profit (loss) for the period before taxes | 9903 | -€45,943 | -€35,485 | +€10,458 | +22.8% |
| Income taxes | 67/77 | €393 | €207 | -€186 | -47.3% |
| Profit (loss) for the period | 9904 | -€46,335 | -€35,691 | +€10,644 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,335 | -€35,691 | +€10,644 | +23.0% |
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 30 September 2026 via checked.be.