DE COLVENAER: 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 COLVENAER
Largest movements
- Tangible fixed assets -€270,274
down €270,274 (-2.3%), from €11.7m to €11.5m
of which Assets under construction and advance payments: -€230,209
- Receivables after one year -€181,417
down €181,417 (-26.4%), from €687,537 to €506,120
- Revaluation surpluses -€190,095
down €190,095 (-4.3%), from €4.4m to €4.2m
- Debts after one year -€185,000
down €185,000 (-2.1%), from €8.9m to €8.7m
- Gross operating margin +€52,132
up €52,132 (+259%), from €20,166 to €72,298
- Purchases and services -€41,063
down €41,063 (-43.1%), from €95,276 to €54,213
- Depreciation +€28,026
up €28,026 (+16.4%), from €170,788 to €198,813
- Turnover +€11,069
up €11,069 (+9.6%), from €115,442 to €126,511
- Financial income -€2,650
down €2,650 (-19.1%), from €13,908 to €11,258
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 | €12,766,471 | €12,291,516 | -€474,955 | -3.7% |
| Fixed assets | 21/28 | €11,734,770 | €11,464,497 | -€270,274 | -2.3% |
| Tangible fixed assets | 22/27 | €11,734,770 | €11,464,497 | -€270,274 | -2.3% |
| Land and buildings | 22 | €11,466,075 | €11,429,992 | -€36,084 | -0.3% |
| Plant, machinery and equipment | 23 | €27,098 | €23,367 | -€3,732 | -13.8% |
| Furniture and vehicles | 24 | €11,388 | €11,139 | -€249 | -2.2% |
| Assets under construction and advance payments | 27 | €230,209 | - | -€230,209 | |
| Current assets | 29/58 | €1,031,700 | €827,019 | -€204,682 | -19.8% |
| Amounts receivable after more than one year | 29 | €687,537 | €506,120 | -€181,417 | -26.4% |
| Other amounts receivable | 291 | €687,537 | €506,120 | -€181,417 | -26.4% |
| Amounts receivable within one year | 40/41 | €312,112 | €244,988 | -€67,124 | -21.5% |
| Trade receivables | 40 | €208 | €61,071 | +€60,862 | +29,198% |
| Other amounts receivable | 41 | €311,904 | €183,918 | -€127,986 | -41.0% |
| Cash at bank and in hand | 54/58 | €29,985 | €68,102 | +€38,117 | +127% |
| Deferred charges and accrued income | 490/1 | €2,066 | €7,809 | +€5,743 | +278% |
| Total equity and liabilities | 10/49 | €12,766,471 | €12,291,516 | -€474,955 | -3.7% |
| Equity | 10/15 | €3,830,378 | €3,538,207 | -€292,171 | -7.6% |
| Contributions | 10/11 | €20,999 | €20,999 | = | 0.0% |
| Revaluation surpluses | 12 | €4,403,840 | €4,213,745 | -€190,095 | -4.3% |
| Reserves | 13 | €160,917 | €183,921 | +€23,004 | +14.3% |
| Distributable reserves | 133 | €160,917 | €183,921 | +€23,004 | +14.3% |
| Profit (loss) carried forward | 14 | -€755,378 | -€880,458 | -€125,081 | -16.6% |
| Amounts payable | 17/49 | €8,936,092 | €8,753,309 | -€182,784 | -2.0% |
| Amounts payable after more than one year | 17 | €8,899,768 | €8,714,768 | -€185,000 | -2.1% |
| Financial debts | 170/4 | €8,899,768 | €8,714,768 | -€185,000 | -2.1% |
| Amounts payable within one year | 42/48 | €30,324 | €32,540 | +€2,216 | +7.3% |
| Trade debts | 44 | €30,324 | €10,841 | -€19,483 | -64.2% |
| Suppliers | 440/4 | €30,324 | €10,841 | -€19,483 | -64.2% |
| Advances received on contracts in progress | 46 | - | €21,699 | +€21,699 | |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Turnover | 70 | €115,442 | €126,511 | +€11,069 | +9.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €95,276 | €54,213 | -€41,063 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,788 | €198,813 | +€28,026 | +16.4% |
| Other operating charges | 640/8 | €6,963 | €9,533 | +€2,569 | +36.9% |
| Non-recurring operating charges | 66A | €1,993 | - | -€1,993 | |
| Gross operating margin | 9900 | €20,166 | €72,298 | +€52,132 | +259% |
| Operating profit (loss) | 9901 | -€159,578 | -€136,048 | +€23,529 | +14.7% |
| Financial income | 75/76B | €13,908 | €11,258 | -€2,650 | -19.1% |
| Recurring financial income | 75 | €13,908 | €11,258 | -€2,650 | -19.1% |
| Financial charges | 65/66B | €244 | €290 | +€46 | +19.0% |
| Recurring financial charges | 65 | €244 | €290 | +€46 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | -€145,914 | -€125,081 | +€20,833 | +14.3% |
| Profit (loss) for the period | 9904 | -€145,914 | -€125,081 | +€20,833 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€145,914 | -€125,081 | +€20,833 | +14.3% |
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 18 October 2026 via checked.be.