DE CONINCK: 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 CONINCK
Largest movements
- Tangible fixed assets +€292,427
up €292,427 (+123%), from €238,694 to €531,121
of which Assets under construction and advance payments: +€200,000
- Cash -€29,737
down €29,737 (-34.7%), from €85,595 to €55,858
mainly Investment in fixed assets (net) (-€378,718) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€29,315
up €29,315 (+54.6%), from €53,685 to €83,000
of which Other amounts receivable: +€56,702
- Debts after one year +€166,169
up €166,169 (+1,461%), from €11,370 to €177,540
- Other debts +€100,000
new in 2025: €100,000
- Current portion of long-term debt +€28,652
up €28,652 (+105%), from €27,303 to €55,955
- Trade debts -€12,182
down €12,182 (-50.7%), from €24,045 to €11,863
- Tax, wage and social debts +€12,096
up €12,096 (+44.3%), from €27,297 to €39,393
of which Taxes: +€11,627
- Gross operating margin +€73,529
up €73,529 (+41.0%), from €179,158 to €252,687
- Depreciation +€28,444
up €28,444 (+49.2%), from €57,847 to €86,291
- Taxes +€5,281
up €5,281 (+17.9%), from €29,429 to €34,710
- Financial charges +€3,853
up €3,853 (+114%), from €3,388 to €7,242
- Staff costs +€3,523
up €3,523 (+30.5%), from €11,544 to €15,067
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 | €379,021 | €674,737 | +€295,716 | +78.0% |
| Fixed assets | 21/28 | €239,494 | €531,921 | +€292,427 | +122% |
| Tangible fixed assets | 22/27 | €238,694 | €531,121 | +€292,427 | +123% |
| Land and buildings | 22 | €73,420 | €63,761 | -€9,659 | -13.2% |
| Plant, machinery and equipment | 23 | €106,208 | €152,313 | +€46,105 | +43.4% |
| Furniture and vehicles | 24 | €59,066 | €115,048 | +€55,981 | +94.8% |
| Assets under construction and advance payments | 27 | - | €200,000 | +€200,000 | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €139,527 | €142,816 | +€3,289 | +2.4% |
| Amounts receivable within one year | 40/41 | €53,685 | €83,000 | +€29,315 | +54.6% |
| Trade receivables | 40 | €31,142 | €3,755 | -€27,387 | -87.9% |
| Other amounts receivable | 41 | €22,543 | €79,245 | +€56,702 | +252% |
| Cash at bank and in hand | 54/58 | €85,595 | €55,858 | -€29,737 | -34.7% |
| Deferred charges and accrued income | 490/1 | €248 | €3,958 | +€3,711 | +1,499% |
| Total equity and liabilities | 10/49 | €379,021 | €674,737 | +€295,716 | +78.0% |
| Equity | 10/15 | €286,768 | €288,074 | +€1,306 | +0.5% |
| Contributions | 10/11 | €18,085 | €18,085 | = | 0.0% |
| Reserves | 13 | €94,406 | €93,116 | -€1,290 | -1.4% |
| Tax-exempt reserves | 132 | €8,939 | €7,650 | -€1,290 | -14.4% |
| Distributable reserves | 133 | €85,466 | €85,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,276 | €176,872 | +€2,596 | +1.5% |
| Provisions and deferred taxes | 16 | €2,235 | €1,913 | -€322 | -14.4% |
| Deferred taxes | 168 | €2,235 | €1,913 | -€322 | -14.4% |
| Amounts payable | 17/49 | €90,019 | €384,751 | +€294,732 | +327% |
| Amounts payable after more than one year | 17 | €11,370 | €177,540 | +€166,169 | +1,461% |
| Financial debts | 170/4 | €11,370 | €177,540 | +€166,169 | +1,461% |
| Amounts payable within one year | 42/48 | €78,645 | €207,211 | +€128,566 | +163% |
| Current portion of amounts payable after more than one year | 42 | €27,303 | €55,955 | +€28,652 | +105% |
| Trade debts | 44 | €24,045 | €11,863 | -€12,182 | -50.7% |
| Suppliers | 440/4 | €24,045 | €11,863 | -€12,182 | -50.7% |
| Taxes, remuneration and social security | 45 | €27,297 | €39,393 | +€12,096 | +44.3% |
| Taxes | 450/3 | €26,308 | €37,935 | +€11,627 | +44.2% |
| Remuneration and social security | 454/9 | €989 | €1,458 | +€469 | +47.4% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €3 | - | -€3 | |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €11,544 | €15,067 | +€3,523 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,847 | €86,291 | +€28,444 | +49.2% |
| Other operating charges | 640/8 | €8,521 | €8,728 | +€206 | +2.4% |
| Gross operating margin | 9900 | €179,158 | €252,687 | +€73,529 | +41.0% |
| Operating profit (loss) | 9901 | €101,245 | €142,601 | +€41,356 | +40.8% |
| Financial income | 75/76B | €427 | €334 | -€93 | -21.7% |
| Recurring financial income | 75 | €427 | €334 | -€93 | -21.7% |
| Financial charges | 65/66B | €3,388 | €7,242 | +€3,853 | +114% |
| Recurring financial charges | 65 | €3,388 | €7,242 | +€3,853 | +114% |
| Profit (loss) for the period before taxes | 9903 | €98,284 | €135,694 | +€37,410 | +38.1% |
| Transfer from deferred taxes | 780 | €255 | €322 | +€67 | +26.5% |
| Income taxes | 67/77 | €29,429 | €34,710 | +€5,281 | +17.9% |
| Profit (loss) for the period | 9904 | €69,110 | €101,306 | +€32,196 | +46.6% |
| Transfer from tax-exempt reserves | 789 | €1,020 | €1,290 | +€270 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,129 | €102,596 | +€32,466 | +46.3% |
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.