DE COSTER: what changed
Two fiscal 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
- Receivables within one year +€139,928
up €139,928 (+69.4%), from €201,635 to €341,564
of which Other amounts receivable: +€119,163
- Current investments +€101,706
up €101,706 (+17.1%), from €593,129 to €694,836
- Cash +€46,545
up €46,545 (+8.4%), from €556,957 to €603,502
mainly Net result for the year (+€309,972) and Depreciation (+€27,216)
- Reserves +€309,972
up €309,972 (+17.5%), from €1.8m to €2.1m
of which Distributable reserves: +€309,972
- Debts after one year -€24,459
down €24,459 (-25.3%), from €96,811 to €72,353
of which Financial debts: -€24,459
- Gross operating margin -€67,024
down €67,024 (-16.5%), from €405,368 to €338,344
- Financial income +€32,174
up €32,174 (+36.7%), from €87,565 to €119,738
- Taxes -€12,392
down €12,392 (-10.3%), from €120,039 to €107,647
- Financial charges -€11,441
down €11,441 (-65.7%), from €17,421 to €5,980
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.
Cash bridge derived
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 | €1,981,375 | €2,255,374 | +€273,999 | +13.8% |
| Fixed assets | 21/28 | €629,653 | €615,472 | -€14,181 | -2.3% |
| Tangible fixed assets | 22/27 | €606,965 | €592,785 | -€14,181 | -2.3% |
| Land and buildings | 22 | €530,145 | €540,469 | +€10,323 | +1.9% |
| Plant, machinery and equipment | 23 | €3,869 | €3,669 | -€200 | -5.2% |
| Furniture and vehicles | 24 | €71,701 | €47,397 | -€24,304 | -33.9% |
| Other tangible fixed assets | 26 | €1,250 | €1,250 | = | 0.0% |
| Financial fixed assets | 28 | €22,687 | €22,687 | = | 0.0% |
| Current assets | 29/58 | €1,351,722 | €1,639,902 | +€288,180 | +21.3% |
| Amounts receivable within one year | 40/41 | €201,635 | €341,564 | +€139,928 | +69.4% |
| Trade receivables | 40 | €47,313 | €68,078 | +€20,765 | +43.9% |
| Other amounts receivable | 41 | €154,322 | €273,486 | +€119,163 | +77.2% |
| Current investments | 50/53 | €593,129 | €694,836 | +€101,706 | +17.1% |
| Cash at bank and in hand | 54/58 | €556,957 | €603,502 | +€46,545 | +8.4% |
| Total equity and liabilities | 10/49 | €1,981,375 | €2,255,374 | +€273,999 | +13.8% |
| Equity | 10/15 | €1,787,486 | €2,097,458 | +€309,972 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,768,886 | €2,078,858 | +€309,972 | +17.5% |
| Non-distributable reserves | 130/1 | €8,768 | €8,768 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,768 | €8,768 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,832 | €13,832 | = | 0.0% |
| Distributable reserves | 133 | €1,746,286 | €2,056,258 | +€309,972 | +17.8% |
| Amounts payable | 17/49 | €193,889 | €157,916 | -€35,973 | -18.6% |
| Amounts payable after more than one year | 17 | €96,811 | €72,353 | -€24,459 | -25.3% |
| Financial debts | 170/4 | €44,811 | €20,353 | -€24,459 | -54.6% |
| Other amounts payable | 178/9 | €52,000 | €52,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,078 | €85,563 | -€11,514 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €23,812 | €24,459 | +€647 | +2.7% |
| Financial debts | 43 | €26,667 | €26,667 | -€0 | 0.0% |
| Credit institutions | 430/8 | €26,667 | - | -€26,667 | |
| Other loans | 439 | - | €26,667 | +€26,667 | |
| Trade debts | 44 | €11,619 | €7,799 | -€3,820 | -32.9% |
| Suppliers | 440/4 | €11,619 | €7,799 | -€3,820 | -32.9% |
| Taxes, remuneration and social security | 45 | €26,876 | €22,665 | -€4,211 | -15.7% |
| Taxes | 450/3 | €26,876 | €22,665 | -€4,211 | -15.7% |
| Other amounts payable | 47/48 | €8,104 | €3,973 | -€4,130 | -51.0% |
| Non-recurring operating income | 76A | €176,676 | - | -€176,676 | |
| Remuneration, social security and pensions | 62 | - | €202 | +€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,688 | €27,216 | -€2,472 | -8.3% |
| Other operating charges | 640/8 | €5,573 | €7,065 | +€1,493 | +26.8% |
| Gross operating margin | 9900 | €405,368 | €338,344 | -€67,024 | -16.5% |
| Operating profit (loss) | 9901 | €370,107 | €303,861 | -€66,247 | -17.9% |
| Financial income | 75/76B | €87,565 | €119,738 | +€32,174 | +36.7% |
| Recurring financial income | 75 | €87,565 | €119,738 | +€32,174 | +36.7% |
| Financial charges | 65/66B | €17,421 | €5,980 | -€11,441 | -65.7% |
| Recurring financial charges | 65 | €17,421 | €5,980 | -€11,441 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €440,251 | €417,619 | -€22,632 | -5.1% |
| Income taxes | 67/77 | €120,039 | €107,647 | -€12,392 | -10.3% |
| Profit (loss) for the period | 9904 | €320,212 | €309,972 | -€10,240 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €320,212 | €309,972 | -€10,240 | -3.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.