DE COSTER: 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 COSTER
Largest movements
- Stocks and contracts -€155,816
down €155,816 (-93.3%), from €167,051 to €11,235
- Receivables within one year -€115,296
down €115,296 (-16.7%), from €689,289 to €573,993
of which Trade receivables: -€90,248
- Cash +€32,929
up €32,929 (+41.2%), from €79,946 to €112,875
mainly Net result for the year (+€228,979) and Stocks and contracts (+€155,816)
- Trade debts -€481,924
down €481,924 (-76.0%), from €634,351 to €152,427
- Reserves +€228,979
up €228,979 (+677%), from €33,832 to €262,811
of which Distributable reserves: +€228,979
- Tax, wage and social debts +€107,973
up €107,973 (+197%), from €54,902 to €162,875
of which Taxes: +€106,198
- Other debts -€62,013
down €62,013 (-13.3%), from €465,180 to €403,167
- Short-term financial debts -€60,008
down €60,008 (-45.7%), from €131,357 to €71,349
- Gross operating margin +€416,646
up €416,646 (+57.3%), from €726,917 to €1.1m
- Taxes +€111,005
up €111,005 (+5,179%), from €2,143 to €113,148
- Depreciation +€44,845
up €44,845 (+84.9%), from €52,803 to €97,648
- Other operating charges +€38,084
up €38,084 (+103%), from €37,066 to €75,150
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 | €1,375,398 | €1,141,695 | -€233,703 | -17.0% |
| Fixed assets | 21/28 | €418,320 | €431,822 | +€13,503 | +3.2% |
| Intangible fixed assets | 21 | €7,000 | €8,974 | +€1,974 | +28.2% |
| Tangible fixed assets | 22/27 | €409,935 | €418,821 | +€8,886 | +2.2% |
| Land and buildings | 22 | €33,749 | €47,847 | +€14,097 | +41.8% |
| Plant, machinery and equipment | 23 | €284,588 | €261,553 | -€23,036 | -8.1% |
| Furniture and vehicles | 24 | €84,637 | €108,466 | +€23,829 | +28.2% |
| Other tangible fixed assets | 26 | €6,960 | €955 | -€6,004 | -86.3% |
| Financial fixed assets | 28 | €1,385 | €4,028 | +€2,643 | +191% |
| Current assets | 29/58 | €957,078 | €709,872 | -€247,206 | -25.8% |
| Stocks and contracts in progress | 3 | €167,051 | €11,235 | -€155,816 | -93.3% |
| Stocks | 30/36 | €167,051 | €11,235 | -€155,816 | -93.3% |
| Amounts receivable within one year | 40/41 | €689,289 | €573,993 | -€115,296 | -16.7% |
| Trade receivables | 40 | €568,582 | €478,334 | -€90,248 | -15.9% |
| Other amounts receivable | 41 | €120,707 | €95,659 | -€25,048 | -20.8% |
| Cash at bank and in hand | 54/58 | €79,946 | €112,875 | +€32,929 | +41.2% |
| Deferred charges and accrued income | 490/1 | €20,792 | €11,770 | -€9,023 | -43.4% |
| Total equity and liabilities | 10/49 | €1,375,398 | €1,141,695 | -€233,703 | -17.0% |
| Equity | 10/15 | €89,608 | €318,587 | +€228,979 | +256% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €33,832 | €262,811 | +€228,979 | +677% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €33,832 | €262,811 | +€228,979 | +677% |
| Amounts payable | 17/49 | €1,285,790 | €823,108 | -€462,682 | -36.0% |
| Amounts payable after more than one year | 17 | - | €7,500 | +€7,500 | |
| Financial debts | 170/4 | - | €7,500 | +€7,500 | |
| Amounts payable within one year | 42/48 | €1,285,790 | €804,819 | -€480,971 | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | €15,000 | +€15,000 | |
| Financial debts | 43 | €131,357 | €71,349 | -€60,008 | -45.7% |
| Credit institutions | 430/8 | €131,357 | €71,349 | -€60,008 | -45.7% |
| Trade debts | 44 | €634,351 | €152,427 | -€481,924 | -76.0% |
| Suppliers | 440/4 | €634,351 | €152,427 | -€481,924 | -76.0% |
| Taxes, remuneration and social security | 45 | €54,902 | €162,875 | +€107,973 | +197% |
| Taxes | 450/3 | €0 | €106,198 | +€106,198 | |
| Remuneration and social security | 454/9 | €54,902 | €56,678 | +€1,775 | +3.2% |
| Other amounts payable | 47/48 | €465,180 | €403,167 | -€62,013 | -13.3% |
| Accrued charges and deferred income | 492/3 | €0 | €10,790 | +€10,790 | |
| Non-recurring operating income | 76A | - | €1,240 | +€1,240 | |
| Remuneration, social security and pensions | 62 | €622,315 | €615,388 | -€6,926 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,803 | €97,648 | +€44,845 | +84.9% |
| Other operating charges | 640/8 | €37,066 | €75,150 | +€38,084 | +103% |
| Gross operating margin | 9900 | €726,917 | €1,143,563 | +€416,646 | +57.3% |
| Operating profit (loss) | 9901 | €14,734 | €355,377 | +€340,644 | +2,312% |
| Financial income | 75/76B | €1,009 | €5,194 | +€4,185 | +415% |
| Recurring financial income | 75 | €1,009 | €5,194 | +€4,185 | +415% |
| Financial charges | 65/66B | €10,996 | €18,444 | +€7,448 | +67.7% |
| Recurring financial charges | 65 | €10,996 | €18,444 | +€7,448 | +67.7% |
| Profit (loss) for the period before taxes | 9903 | €4,747 | €342,127 | +€337,381 | +7,108% |
| Income taxes | 67/77 | €2,143 | €113,148 | +€111,005 | +5,179% |
| Profit (loss) for the period | 9904 | €2,604 | €228,979 | +€226,375 | +8,695% |
| Profit (loss) for the period to be appropriated | 9905 | €2,604 | €228,979 | +€226,375 | +8,695% |
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 15 October 2026 via checked.be.