DE COKERE-MAES: 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.
What changed
DE COKERE-MAES
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,786
2024 · -€89,928+€112,714
Equity
€92,559
2024 · €69,773+€22,786
Cash
€41,878
2024 · €41,170+€707
Balance sheet total
€1.1m
2024 · €1.3m-€186,642
Largest movements
Assets
- Tangible fixed assets -€187,213
down €187,213 (-19.7%), from €952,246 to €765,032
of which Leasing and similar rights: -€216,896
Equity and liabilities
- Debts after one year -€190,288
down €190,288 (-27.8%), from €684,650 to €494,363
- Short-term financial debts -€23,650
down €23,650 (-23.7%), from €100,000 to €76,350
- Profit (loss) carried forward +€22,786
up €22,786 (+12.8%), from -€178,046 to -€155,260
- Trade debts +€14,289
up €14,289 (+9.1%), from €156,999 to €171,288
Income statement
- Gross operating margin +€144,387
up €144,387 (+14.7%), from €980,815 to €1.1m
- Depreciation +€44,384
up €44,384 (+17.5%), from €253,873 to €298,257
- Other operating charges -€29,417
down €29,417 (-32.9%), from €89,451 to €60,033
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.
Result 2024
-€89,928
Gross operating margin
+€144,387
Staff costs
-€1,713
Depreciation
-€44,384
Other operating charges
+€29,417
Other operating items
-€5,576
Financial income
+€110
Financial charges
-€9,518
Taxes
-€10
Result 2025
€22,786
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€332,189
Investment
-€110,642
Financing
-€220,839
Cash 2024
€41,170
From operations (derived)
+€332,189
Net result for the year
+€22,786
Depreciation
+€298,257
Receivables within one year
+€9,867
Deferred charges and accrued income
-€10,132
Trade debts
+€14,289
Tax, wage and social debts
-€5,618
Other debts
-€536
Accrued charges and deferred income
+€3,276
Investment (derived)
-€110,642
Investment in fixed assets (net)
-€110,642
Financing
-€220,839
Debts after one year
-€190,288
Current portion of long-term debt
-€6,902
Short-term financial debts
-€23,650
Cash 2025
€41,878
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,322,840 | €1,136,198 | -€186,642 | -14.1% |
| Fixed assets | 21/28 | €973,984 | €786,369 | -€187,615 | -19.3% |
| Tangible fixed assets | 22/27 | €952,246 | €765,032 | -€187,213 | -19.7% |
| Land and buildings | 22 | €40,771 | €43,382 | +€2,610 | +6.4% |
| Plant, machinery and equipment | 23 | €5,435 | €12,927 | +€7,492 | +138% |
| Furniture and vehicles | 24 | €155,486 | €175,066 | +€19,580 | +12.6% |
| Leasing and similar rights | 25 | €750,554 | €533,658 | -€216,896 | -28.9% |
| Financial fixed assets | 28 | €21,738 | €21,337 | -€401 | -1.8% |
| Current assets | 29/58 | €348,856 | €349,828 | +€972 | +0.3% |
| Amounts receivable within one year | 40/41 | €291,983 | €282,115 | -€9,867 | -3.4% |
| Trade receivables | 40 | €242,281 | €234,259 | -€8,022 | -3.3% |
| Other amounts receivable | 41 | €49,702 | €47,857 | -€1,845 | -3.7% |
| Cash at bank and in hand | 54/58 | €41,170 | €41,878 | +€707 | +1.7% |
| Deferred charges and accrued income | 490/1 | €15,703 | €25,835 | +€10,132 | +64.5% |
| Total equity and liabilities | 10/49 | €1,322,840 | €1,136,198 | -€186,642 | -14.1% |
| Equity | 10/15 | €69,773 | €92,559 | +€22,786 | +32.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €228,819 | €228,819 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,196 | €20,196 | = | 0.0% |
| Distributable reserves | 133 | €208,623 | €208,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,046 | -€155,260 | +€22,786 | +12.8% |
| Amounts payable | 17/49 | €1,253,067 | €1,043,639 | -€209,428 | -16.7% |
| Amounts payable after more than one year | 17 | €684,650 | €494,363 | -€190,288 | -27.8% |
| Financial debts | 170/4 | €684,650 | €494,363 | -€190,288 | -27.8% |
| Amounts payable within one year | 42/48 | €565,271 | €542,854 | -€22,416 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €212,349 | €205,448 | -€6,902 | -3.3% |
| Financial debts | 43 | €100,000 | €76,350 | -€23,650 | -23.7% |
| Other loans | 439 | €100,000 | €76,350 | -€23,650 | -23.7% |
| Trade debts | 44 | €156,999 | €171,288 | +€14,289 | +9.1% |
| Suppliers | 440/4 | €156,999 | €171,288 | +€14,289 | +9.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €92,671 | €87,054 | -€5,618 | -6.1% |
| Taxes | 450/3 | €17,618 | €13,964 | -€3,655 | -20.7% |
| Remuneration and social security | 454/9 | €75,053 | €73,090 | -€1,963 | -2.6% |
| Other amounts payable | 47/48 | €3,251 | €2,715 | -€536 | -16.5% |
| Accrued charges and deferred income | 492/3 | €3,146 | €6,422 | +€3,276 | +104% |
| Non-recurring operating income | 76A | €139,529 | €172,366 | +€32,837 | +23.5% |
| Remuneration, social security and pensions | 62 | €685,464 | €687,177 | +€1,713 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,873 | €298,257 | +€44,384 | +17.5% |
| Other operating charges | 640/8 | €89,451 | €60,033 | -€29,417 | -32.9% |
| Non-recurring operating charges | 66A | - | €5,576 | +€5,576 | |
| Gross operating margin | 9900 | €980,815 | €1,125,201 | +€144,387 | +14.7% |
| Operating profit (loss) | 9901 | -€47,974 | €74,158 | +€122,132 | |
| Financial income | 75/76B | €32 | €142 | +€110 | +339% |
| Recurring financial income | 75 | €32 | €142 | +€110 | +339% |
| Financial charges | 65/66B | €41,788 | €51,306 | +€9,518 | +22.8% |
| Recurring financial charges | 65 | €41,788 | €51,306 | +€9,518 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | -€89,730 | €22,994 | +€112,724 | |
| Income taxes | 67/77 | €199 | €209 | +€10 | +4.9% |
| Profit (loss) for the period | 9904 | -€89,928 | €22,786 | +€112,714 | |
| Profit (loss) for the period to be appropriated | 9905 | -€89,928 | €22,786 | +€112,714 |
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 25 October 2026 via checked.be.