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 +€29,940
up €29,940 (+30.0%), from €99,922 to €129,862
mainly Net result for the year (+€37,118) and Depreciation (+€11,324)
- Deferred charges and accrued income +€20,369
up €20,369 (+7,064%), from €288 to €20,657
- Tangible fixed assets -€8,001
down €8,001 (-17.4%), from €46,087 to €38,086
- Receivables within one year +€3,326
up €3,326 (+22.7%), from €14,643 to €17,969
of which Trade receivables: +€1,985
- Reserves +€37,118
up €37,118 (+29.8%), from €124,699 to €161,817
- Tax, wage and social debts +€9,222
up €9,222 (+64.2%), from €14,375 to €23,597
of which Taxes: +€8,414
- Other debts -€2,869
down €2,869 (-19.4%), from €14,779 to €11,910
- Trade debts +€2,163
up €2,163 (+145%), from €1,488 to €3,651
- Gross operating margin +€20,823
up €20,823 (+16.8%), from €123,912 to €144,735
- Depreciation +€5,299
up €5,299 (+87.9%), from €6,025 to €11,324
- Staff costs +€4,218
up €4,218 (+5.8%), from €73,315 to €77,533
- Taxes +€2,660
up €2,660 (+20.8%), from €12,784 to €15,443
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 | €161,541 | €207,174 | +€45,634 | +28.2% |
| Fixed assets | 21/28 | €46,687 | €38,686 | -€8,001 | -17.1% |
| Tangible fixed assets | 22/27 | €46,087 | €38,086 | -€8,001 | -17.4% |
| Furniture and vehicles | 24 | €46,087 | €38,086 | -€8,001 | -17.4% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €114,854 | €168,488 | +€53,634 | +46.7% |
| Amounts receivable within one year | 40/41 | €14,643 | €17,969 | +€3,326 | +22.7% |
| Trade receivables | 40 | €14,427 | €16,413 | +€1,985 | +13.8% |
| Other amounts receivable | 41 | €216 | €1,557 | +€1,340 | +620% |
| Cash at bank and in hand | 54/58 | €99,922 | €129,862 | +€29,940 | +30.0% |
| Deferred charges and accrued income | 490/1 | €288 | €20,657 | +€20,369 | +7,064% |
| Total equity and liabilities | 10/49 | €161,541 | €207,174 | +€45,634 | +28.2% |
| Equity | 10/15 | €130,899 | €168,017 | +€37,118 | +28.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,699 | €161,817 | +€37,118 | +29.8% |
| Distributable reserves | 133 | €124,699 | €161,817 | +€37,118 | +29.8% |
| Amounts payable | 17/49 | €30,642 | €39,158 | +€8,516 | +27.8% |
| Amounts payable within one year | 42/48 | €30,642 | €39,158 | +€8,516 | +27.8% |
| Trade debts | 44 | €1,488 | €3,651 | +€2,163 | +145% |
| Suppliers | 440/4 | €1,488 | €3,651 | +€2,163 | +145% |
| Taxes, remuneration and social security | 45 | €14,375 | €23,597 | +€9,222 | +64.2% |
| Taxes | 450/3 | €2,662 | €11,076 | +€8,414 | +316% |
| Remuneration and social security | 454/9 | €11,713 | €12,521 | +€808 | +6.9% |
| Other amounts payable | 47/48 | €14,779 | €11,910 | -€2,869 | -19.4% |
| Non-recurring operating income | 76A | €8,730 | €1,750 | -€6,980 | -80.0% |
| Remuneration, social security and pensions | 62 | €73,315 | €77,533 | +€4,218 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,025 | €11,324 | +€5,299 | +87.9% |
| Other operating charges | 640/8 | €505 | €1,766 | +€1,261 | +250% |
| Non-recurring operating charges | 66A | - | €1,750 | +€1,750 | |
| Gross operating margin | 9900 | €123,912 | €144,735 | +€20,823 | +16.8% |
| Operating profit (loss) | 9901 | €44,067 | €52,362 | +€8,295 | +18.8% |
| Financial income | 75/76B | €575 | €1,777 | +€1,203 | +209% |
| Recurring financial income | 75 | €575 | €1,777 | +€1,203 | +209% |
| Financial charges | 65/66B | €1,149 | €1,578 | +€430 | +37.4% |
| Recurring financial charges | 65 | €1,149 | €1,578 | +€430 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €43,493 | €52,561 | +€9,068 | +20.8% |
| Income taxes | 67/77 | €12,784 | €15,443 | +€2,660 | +20.8% |
| Profit (loss) for the period | 9904 | €30,709 | €37,118 | +€6,408 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,709 | €37,118 | +€6,408 | +20.9% |
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 30 October 2026 via checked.be.