DE COCK: 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.
DE COCK
Largest movements
- Cash -€149,555
down €149,555 (-73.1%), from €204,624 to €55,069
mainly Current investments (-€81,510) and Investment in fixed assets (net) (-€46,182)
- Current investments +€81,510
up €81,510 (+59.2%), from €137,628 to €219,138
- Reserves -€29,584
down €29,584 (-3.3%), from €883,728 to €854,144
of which Tax-exempt reserves: -€20,972
- Debts after one year -€22,000
down €22,000 (-63.2%), from €34,834 to €12,834
- Gross operating margin -€15,330
down €15,330 (-21.1%), from €72,680 to €57,350
- Taxes -€9,031
down €9,031 (-67.5%), from €13,384 to €4,353
- Depreciation +€3,892
up €3,892 (+8.0%), from €48,500 to €52,392
- Financial income -€2,693
down €2,693 (-44.0%), from €6,119 to €3,426
- Financial charges -€744
down €744 (-20.0%), from €3,724 to €2,980
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 | €1,119,871 | €1,052,061 | -€67,810 | -6.1% |
| Fixed assets | 21/28 | €776,758 | €770,548 | -€6,209 | -0.8% |
| Tangible fixed assets | 22/27 | €776,634 | €770,424 | -€6,209 | -0.8% |
| Land and buildings | 22 | €775,788 | €770,424 | -€5,364 | -0.7% |
| Plant, machinery and equipment | 23 | €284 | €0 | -€284 | -100% |
| Furniture and vehicles | 24 | €561 | €0 | -€561 | -100% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €343,113 | €281,512 | -€61,601 | -18.0% |
| Amounts receivable within one year | 40/41 | €861 | €5,938 | +€5,077 | +590% |
| Other amounts receivable | 41 | €861 | €5,938 | +€5,077 | +590% |
| Current investments | 50/53 | €137,628 | €219,138 | +€81,510 | +59.2% |
| Cash at bank and in hand | 54/58 | €204,624 | €55,069 | -€149,555 | -73.1% |
| Deferred charges and accrued income | 490/1 | - | €1,367 | +€1,367 | |
| Total equity and liabilities | 10/49 | €1,119,871 | €1,052,061 | -€67,810 | -6.1% |
| Equity | 10/15 | €945,228 | €915,644 | -€29,584 | -3.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €883,728 | €854,144 | -€29,584 | -3.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €271,346 | €250,375 | -€20,972 | -7.7% |
| Distributable reserves | 133 | €606,231 | €597,619 | -€8,612 | -1.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €90,449 | €83,458 | -€6,991 | -7.7% |
| Deferred taxes | 168 | €90,449 | €83,458 | -€6,991 | -7.7% |
| Amounts payable | 17/49 | €84,194 | €52,959 | -€31,235 | -37.1% |
| Amounts payable after more than one year | 17 | €34,834 | €12,834 | -€22,000 | -63.2% |
| Financial debts | 170/4 | €34,834 | €12,834 | -€22,000 | -63.2% |
| Amounts payable within one year | 42/48 | €43,422 | €33,605 | -€9,817 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €22,000 | €22,000 | = | 0.0% |
| Trade debts | 44 | €89 | €295 | +€206 | +230% |
| Suppliers | 440/4 | €89 | €295 | +€206 | +230% |
| Taxes, remuneration and social security | 45 | - | €815 | +€815 | |
| Taxes | 450/3 | - | €815 | +€815 | |
| Other amounts payable | 47/48 | €21,333 | €10,495 | -€10,837 | -50.8% |
| Accrued charges and deferred income | 492/3 | €5,939 | €6,520 | +€581 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,500 | €52,392 | +€3,892 | +8.0% |
| Other operating charges | 640/8 | €16,088 | €16,356 | +€268 | +1.7% |
| Gross operating margin | 9900 | €72,680 | €57,350 | -€15,330 | -21.1% |
| Operating profit (loss) | 9901 | €8,092 | -€11,397 | -€19,490 | |
| Financial income | 75/76B | €6,119 | €3,426 | -€2,693 | -44.0% |
| Recurring financial income | 75 | €6,119 | €3,426 | -€2,693 | -44.0% |
| Financial charges | 65/66B | €3,724 | €2,980 | -€744 | -20.0% |
| Recurring financial charges | 65 | €3,724 | €2,980 | -€744 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €10,487 | -€10,951 | -€21,439 | |
| Transfer from deferred taxes | 780 | €6,991 | €6,991 | = | 0.0% |
| Income taxes | 67/77 | €13,384 | €4,353 | -€9,031 | -67.5% |
| Profit (loss) for the period | 9904 | €4,094 | -€8,313 | -€12,407 | |
| Transfer from tax-exempt reserves | 789 | €20,972 | €20,972 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,066 | €12,658 | -€12,407 | -49.5% |
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 23 October 2026 via checked.be.