DAVID KOLLER: 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.
DAVID KOLLER
Largest movements
- Tangible fixed assets +€130,600
up €130,600 (+4601.8%), from €2,838 to €133,438
of which Land and buildings: +€131,711
- Cash -€25,429
down €25,429 (-67.5%), from €37,681 to €12,252
mainly Investment in fixed assets (net) (-€134,663) and Receivables within one year (-€22,432)
- Receivables within one year +€22,432
up €22,432 (+503.8%), from €4,453 to €26,885
of which Trade receivables: +€26,220
- Other debts +€103,945
up €103,945 (+9032.1%), from €1,151 to €105,096
- Profit (loss) carried forward +€12,103
up €12,103 (+53.9%), from €22,475 to €34,577
- Trade debts +€9,558
up €9,558 (+256.8%), from €3,722 to €13,280
- Accrued charges and deferred income +€2,067
up €2,067 (+117.4%), from €1,761 to €3,828
- Other operating charges +€21,546
up €21,546 (+10703.2%), from €201 to €21,747
- Gross operating margin +€12,688
up €12,688 (+41.5%), from €30,567 to €43,255
- Depreciation +€3,566
up €3,566 (+716.8%), from €497 to €4,063
- Taxes -€2,553
down €2,553 (-41.1%), from €6,212 to €3,659
- Financial charges +€479
up €479 (+39.8%), from €1,204 to €1,683
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 | €47,238 | €175,111 | +€127,873 | +270.7% |
| Fixed assets | 21/28 | €4,343 | €134,943 | +€130,600 | +3007.1% |
| Tangible fixed assets | 22/27 | €2,838 | €133,438 | +€130,600 | +4601.8% |
| Land and buildings | 22 | - | €131,711 | +€131,711 | |
| Furniture and vehicles | 24 | €2,838 | €1,726 | -€1,112 | -39.2% |
| Financial fixed assets | 28 | €1,505 | €1,505 | = | 0.0% |
| Current assets | 29/58 | €42,895 | €40,169 | -€2,727 | -6.4% |
| Amounts receivable within one year | 40/41 | €4,453 | €26,885 | +€22,432 | +503.8% |
| Trade receivables | 40 | €664 | €26,885 | +€26,220 | +3946.7% |
| Other amounts receivable | 41 | €3,788 | - | -€3,788 | |
| Cash at bank and in hand | 54/58 | €37,681 | €12,252 | -€25,429 | -67.5% |
| Deferred charges and accrued income | 490/1 | €762 | €1,032 | +€271 | +35.5% |
| Total equity and liabilities | 10/49 | €47,238 | €175,111 | +€127,873 | +270.7% |
| Equity | 10/15 | €34,475 | €46,577 | +€12,103 | +35.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,475 | €34,577 | +€12,103 | +53.9% |
| Amounts payable | 17/49 | €12,764 | €128,534 | +€115,770 | +907.0% |
| Amounts payable within one year | 42/48 | €11,003 | €124,706 | +€113,703 | +1033.4% |
| Trade debts | 44 | €3,722 | €13,280 | +€9,558 | +256.8% |
| Suppliers | 440/4 | €3,722 | €13,280 | +€9,558 | +256.8% |
| Taxes, remuneration and social security | 45 | €6,130 | €6,329 | +€199 | +3.2% |
| Taxes | 450/3 | €6,130 | €6,329 | +€199 | +3.2% |
| Other amounts payable | 47/48 | €1,151 | €105,096 | +€103,945 | +9032.1% |
| Accrued charges and deferred income | 492/3 | €1,761 | €3,828 | +€2,067 | +117.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €497 | €4,063 | +€3,566 | +716.8% |
| Other operating charges | 640/8 | €201 | €21,747 | +€21,546 | +10703.2% |
| Gross operating margin | 9900 | €30,567 | €43,255 | +€12,688 | +41.5% |
| Operating profit (loss) | 9901 | €29,868 | €17,445 | -€12,423 | -41.6% |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €1,204 | €1,683 | +€479 | +39.8% |
| Recurring financial charges | 65 | €1,204 | €1,683 | +€479 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €28,686 | €15,762 | -€12,925 | -45.1% |
| Income taxes | 67/77 | €6,212 | €3,659 | -€2,553 | -41.1% |
| Profit (loss) for the period | 9904 | €22,475 | €12,103 | -€10,372 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,475 | €12,103 | -€10,372 | -46.1% |
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 1 October 2026 via checked.be.