Coussée Project: 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.
Coussée Project
Largest movements
- Financial fixed assets +€1.6m
up €1.6m (+65.4%), from €2.5m to €4.1m
- Current investments +€750,000
up €750,000 (+100%), from €750,000 to €1.5m
- Receivables within one year -€690,691
down €690,691 (-16.0%), from €4.3m to €3.6m
of which Other amounts receivable: -€587,994
- Stocks and contracts -€261,804
down €261,804 (-7.1%), from €3.7m to €3.4m
of which Stocks: -€261,804
- Profit (loss) carried forward +€1.8m
up €1.8m (+34.9%), from €5.2m to €6.9m
- Trade debts -€185,592
down €185,592 (-71.5%), from €259,711 to €74,119
- Financial income +€2.0m
up €2.0m (+467%), from €429,692 to €2.4m
- Financial charges +€392,657
up €392,657 (+404%), from €97,102 to €489,758
of which Non-recurring financial charges: +€405,000
- Gross operating margin -€378,637
down €378,637 (-89.7%), from €422,184 to €43,547
- Taxes -€85,070
down €85,070 (-87.1%), from €97,635 to €12,565
- Other operating charges -€35,055
down €35,055 (-75.4%), from €46,470 to €11,415
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
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 | €11,890,944 | €13,366,965 | +€1.5m | +12.4% |
| Fixed assets | 21/28 | €2,474,462 | €4,072,165 | +€1.6m | +64.6% |
| Tangible fixed assets | 22/27 | €12,266 | €0 | -€12,266 | -100% |
| Furniture and vehicles | 24 | €83 | €0 | -€83 | -100% |
| Other tangible fixed assets | 26 | €12,183 | €0 | -€12,183 | -100% |
| Financial fixed assets | 28 | €2,462,197 | €4,072,165 | +€1.6m | +65.4% |
| Current assets | 29/58 | €9,416,482 | €9,294,800 | -€121,681 | -1.3% |
| Stocks and contracts in progress | 3 | €3,696,212 | €3,434,408 | -€261,804 | -7.1% |
| Stocks | 30/36 | €3,636,792 | €3,374,988 | -€261,804 | -7.2% |
| Contracts in progress | 37 | €59,419 | €59,419 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,303,996 | €3,613,305 | -€690,691 | -16.0% |
| Trade receivables | 40 | €271,449 | €168,752 | -€102,697 | -37.8% |
| Other amounts receivable | 41 | €4,032,547 | €3,444,553 | -€587,994 | -14.6% |
| Current investments | 50/53 | €750,000 | €1,500,000 | +€750,000 | +100% |
| Cash at bank and in hand | 54/58 | €547,790 | €675,520 | +€127,730 | +23.3% |
| Deferred charges and accrued income | 490/1 | €118,484 | €71,568 | -€46,916 | -39.6% |
| Total equity and liabilities | 10/49 | €11,890,944 | €13,366,965 | +€1.5m | +12.4% |
| Equity | 10/15 | €9,595,955 | €11,394,163 | +€1.8m | +18.7% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Capital | 10 | €165,000 | €165,000 | = | 0.0% |
| Issued capital | 100 | €165,000 | €165,000 | = | 0.0% |
| Reserves | 13 | €4,280,062 | €4,280,062 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,500 | €16,500 | = | 0.0% |
| Legal reserve | 130 | €16,500 | €16,500 | = | 0.0% |
| Distributable reserves | 133 | €4,263,562 | €4,263,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,150,894 | €6,949,101 | +€1.8m | +34.9% |
| Amounts payable | 17/49 | €2,294,989 | €1,972,802 | -€322,187 | -14.0% |
| Amounts payable within one year | 42/48 | €2,274,824 | €1,961,177 | -€313,647 | -13.8% |
| Financial debts | 43 | €1,585,000 | €1,585,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,585,000 | €1,585,000 | = | 0.0% |
| Trade debts | 44 | €259,711 | €74,119 | -€185,592 | -71.5% |
| Suppliers | 440/4 | €259,711 | €74,119 | -€185,592 | -71.5% |
| Taxes, remuneration and social security | 45 | €19,044 | €75 | -€18,969 | -99.6% |
| Taxes | 450/3 | €19,044 | €75 | -€18,969 | -99.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €411,069 | €301,983 | -€109,086 | -26.5% |
| Accrued charges and deferred income | 492/3 | €20,165 | €11,625 | -€8,540 | -42.4% |
| Non-recurring operating income | 76A | €0 | €3,800 | +€3,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,221 | €12,266 | -€10,955 | -47.2% |
| Other operating charges | 640/8 | €46,470 | €11,415 | -€35,055 | -75.4% |
| Gross operating margin | 9900 | €422,184 | €43,547 | -€378,637 | -89.7% |
| Operating profit (loss) | 9901 | €352,493 | €19,866 | -€332,627 | -94.4% |
| Financial income | 75/76B | €429,692 | €2,437,865 | +€2.0m | +467% |
| Recurring financial income | 75 | €429,692 | €2,437,865 | +€2.0m | +467% |
| Financial charges | 65/66B | €97,102 | €489,758 | +€392,657 | +404% |
| Recurring financial charges | 65 | €97,102 | €84,758 | -€12,343 | -12.7% |
| Non-recurring financial charges | 66B | €0 | €405,000 | +€405,000 | |
| Profit (loss) for the period before taxes | 9903 | €685,083 | €1,967,973 | +€1.3m | +187% |
| Income taxes | 67/77 | €97,635 | €12,565 | -€85,070 | -87.1% |
| Profit (loss) for the period | 9904 | €587,449 | €1,955,408 | +€1.4m | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €587,449 | €1,955,408 | +€1.4m | +233% |
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 15 October 2026 via checked.be.