DE COCK E & C: what changed
What changed
DE COCK E & C
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€28,915
2024 · €12,727+€16,188
Equity
€973,518
2024 · €944,603+€28,915
Cash
€291,226
2024 · €344,286-€53,061
Balance sheet total
€1.3m
2024 · €1.4m-€74,115
Largest movements
Assets
- Cash -€53,061
down €53,061 (-15.4%), from €344,286 to €291,226
mainly Trade debts (-€53,676) and Debts after one year (-€38,889)
- Tangible fixed assets -€50,064
down €50,064 (-23.4%), from €213,889 to €163,825
of which Furniture and vehicles: -€47,080
- Receivables within one year +€21,639
up €21,639 (+6.1%), from €356,148 to €377,787
of which Trade receivables: +€20,756
Equity and liabilities
- Trade debts -€53,676
down €53,676 (-22.3%), from €240,499 to €186,823
- Debts after one year -€38,889
down €38,889 (-82.4%), from €47,207 to €8,318
- Reserves +€28,915
up €28,915 (+3.3%), from €883,103 to €912,018
of which Distributable reserves: +€28,915
- Current portion of long-term debt -€17,302
down €17,302 (-30.8%), from €56,191 to €38,889
Income statement
- Gross operating margin +€135,801
up €135,801 (+15.5%), from €875,311 to €1.0m
- Financial charges -€116,959
down €116,959 (-97.4%), from €120,118 to €3,159
of which Non-recurring financial charges: -€115,000
- Financial income -€112,264
down €112,264 (-86.1%), from €130,317 to €18,053
- Staff costs +€66,703
up €66,703 (+8.4%), from €795,880 to €862,583
- Taxes +€12,850
up €12,850 (+302%), from €4,255 to €17,106
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€12,727
Gross operating margin
+€135,801
Staff costs
-€66,703
Depreciation
+€63
Provisions
+€847
Other operating charges
-€665
Other operating items
-€45,000
Financial income
-€112,264
Financial charges
+€116,959
Taxes
-€12,850
Result 2025
€28,915
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€27,770
Investment
-€24,639
Financing
-€56,191
Cash 2024
€344,286
From operations (derived)
+€27,770
Net result for the year
+€28,915
Depreciation
+€75,093
Stocks and contracts
-€9,242
Receivables within one year
-€21,639
Deferred charges and accrued income
+€1,480
Provisions
-€4,805
Trade debts
-€53,676
Tax, wage and social debts
+€6,827
Accrued charges and deferred income
+€4,817
Investment (derived)
-€24,639
Investment in fixed assets (net)
-€24,639
Financing
-€56,191
Debts after one year
-€38,889
Current portion of long-term debt
-€17,302
Cash 2025
€291,226
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,368,577 | €1,294,462 | -€74,115 | -5.4% |
| Fixed assets | 21/28 | €243,914 | €193,460 | -€50,454 | -20.7% |
| Tangible fixed assets | 22/27 | €213,889 | €163,825 | -€50,064 | -23.4% |
| Plant, machinery and equipment | 23 | €43,540 | €51,660 | +€8,120 | +18.6% |
| Furniture and vehicles | 24 | €131,413 | €84,332 | -€47,080 | -35.8% |
| Other tangible fixed assets | 26 | €38,937 | €27,833 | -€11,104 | -28.5% |
| Financial fixed assets | 28 | €30,025 | €29,635 | -€390 | -1.3% |
| Current assets | 29/58 | €1,124,663 | €1,101,002 | -€23,660 | -2.1% |
| Stocks and contracts in progress | 3 | €418,188 | €427,430 | +€9,242 | +2.2% |
| Stocks | 30/36 | €418,188 | €427,430 | +€9,242 | +2.2% |
| Amounts receivable within one year | 40/41 | €356,148 | €377,787 | +€21,639 | +6.1% |
| Trade receivables | 40 | €346,507 | €367,263 | +€20,756 | +6.0% |
| Other amounts receivable | 41 | €9,640 | €10,523 | +€883 | +9.2% |
| Cash at bank and in hand | 54/58 | €344,286 | €291,226 | -€53,061 | -15.4% |
| Deferred charges and accrued income | 490/1 | €6,041 | €4,560 | -€1,480 | -24.5% |
| Total equity and liabilities | 10/49 | €1,368,577 | €1,294,462 | -€74,115 | -5.4% |
| Equity | 10/15 | €944,603 | €973,518 | +€28,915 | +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 | €883,103 | €912,018 | +€28,915 | +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 | €52,400 | €52,400 | = | 0.0% |
| Distributable reserves | 133 | €824,553 | €853,468 | +€28,915 | +3.5% |
| Provisions and deferred taxes | 16 | €33,272 | €28,466 | -€4,805 | -14.4% |
| Provisions for liabilities and charges | 160/5 | €33,272 | €28,466 | -€4,805 | -14.4% |
| Environmental obligations | 163 | €33,272 | €28,466 | -€4,805 | -14.4% |
| Amounts payable | 17/49 | €390,702 | €292,478 | -€98,224 | -25.1% |
| Amounts payable after more than one year | 17 | €47,207 | €8,318 | -€38,889 | -82.4% |
| Financial debts | 170/4 | €47,207 | €8,318 | -€38,889 | -82.4% |
| Amounts payable within one year | 42/48 | €343,460 | €279,309 | -€64,151 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €56,191 | €38,889 | -€17,302 | -30.8% |
| Trade debts | 44 | €240,499 | €186,823 | -€53,676 | -22.3% |
| Suppliers | 440/4 | €240,499 | €186,823 | -€53,676 | -22.3% |
| Taxes, remuneration and social security | 45 | €46,770 | €53,596 | +€6,827 | +14.6% |
| Taxes | 450/3 | €20,955 | €14,355 | -€6,600 | -31.5% |
| Remuneration and social security | 454/9 | €25,815 | €39,242 | +€13,427 | +52.0% |
| Accrued charges and deferred income | 492/3 | €35 | €4,852 | +€4,817 | +13,579% |
| Non-recurring operating income | 76A | €9,296 | - | -€9,296 | |
| Remuneration, social security and pensions | 62 | €795,880 | €862,583 | +€66,703 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,156 | €75,093 | -€63 | -0.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,958 | -€4,805 | -€847 | -21.4% |
| Other operating charges | 640/8 | €1,450 | €2,115 | +€665 | +45.9% |
| Non-recurring operating charges | 66A | - | €45,000 | +€45,000 | |
| Gross operating margin | 9900 | €875,311 | €1,011,112 | +€135,801 | +15.5% |
| Operating profit (loss) | 9901 | €6,783 | €31,126 | +€24,343 | +359% |
| Financial income | 75/76B | €130,317 | €18,053 | -€112,264 | -86.1% |
| Recurring financial income | 75 | €130,317 | €18,053 | -€112,264 | -86.1% |
| Financial charges | 65/66B | €120,118 | €3,159 | -€116,959 | -97.4% |
| Recurring financial charges | 65 | €5,118 | €3,159 | -€1,959 | -38.3% |
| Non-recurring financial charges | 66B | €115,000 | - | -€115,000 | |
| Profit (loss) for the period before taxes | 9903 | €16,982 | €46,020 | +€29,038 | +171% |
| Income taxes | 67/77 | €4,255 | €17,106 | +€12,850 | +302% |
| Profit (loss) for the period | 9904 | €12,727 | €28,915 | +€16,188 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €12,727 | €28,915 | +€16,188 | +127% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.