De Koeëleboor: 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 Koeëleboor
Largest movements
- Cash -€28,760
down €28,760 (-61.1%), from €47,053 to €18,292
mainly Net result for the year (-€67,265) and Trade debts (-€28,425)
- Stocks and contracts -€11,375
down €11,375 (-10.6%), from €107,571 to €96,195
- Receivables within one year -€8,680
down €8,680 (-21.4%), from €40,611 to €31,931
of which Trade receivables: -€9,353
- Intangible fixed assets -€7,100
down €7,100 (-33.3%), from €21,300 to €14,200
- Tangible fixed assets -€6,233
down €6,233 (-27.8%), from €22,426 to €16,193
of which Furniture and vehicles: -€3,564
- Profit (loss) carried forward -€67,265
down €67,265 (-77.6%), from -€86,731 to -€153,996
- Other debts +€39,557
up €39,557 (+335%), from €11,799 to €51,356
- Trade debts -€28,425
down €28,425 (-20.8%), from €136,737 to €108,312
- Current portion of long-term debt -€4,158
down €4,158 (-83.2%), from €4,997 to €839
- Gross operating margin -€22,888
down €22,888 (-268%), from -€8,546 to -€31,434
- Financial income +€931
up €931 (+49.6%), from €1,879 to €2,810
- Financial charges -€632
down €632 (-28.9%), from €2,190 to €1,558
- Staff costs +€533
up €533 (+2.5%), from €21,732 to €22,266
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 | €240,076 | €179,047 | -€61,028 | -25.4% |
| Fixed assets | 21/28 | €43,726 | €30,393 | -€13,333 | -30.5% |
| Intangible fixed assets | 21 | €21,300 | €14,200 | -€7,100 | -33.3% |
| Tangible fixed assets | 22/27 | €22,426 | €16,193 | -€6,233 | -27.8% |
| Land and buildings | 22 | €8,513 | €7,273 | -€1,239 | -14.6% |
| Plant, machinery and equipment | 23 | €6,659 | €5,229 | -€1,430 | -21.5% |
| Furniture and vehicles | 24 | €7,255 | €3,691 | -€3,564 | -49.1% |
| Current assets | 29/58 | €196,350 | €148,654 | -€47,695 | -24.3% |
| Stocks and contracts in progress | 3 | €107,571 | €96,195 | -€11,375 | -10.6% |
| Stocks | 30/36 | €107,571 | €96,195 | -€11,375 | -10.6% |
| Amounts receivable within one year | 40/41 | €40,611 | €31,931 | -€8,680 | -21.4% |
| Trade receivables | 40 | €25,489 | €16,136 | -€9,353 | -36.7% |
| Other amounts receivable | 41 | €15,122 | €15,795 | +€674 | +4.5% |
| Cash at bank and in hand | 54/58 | €47,053 | €18,292 | -€28,760 | -61.1% |
| Deferred charges and accrued income | 490/1 | €1,115 | €2,236 | +€1,120 | +100% |
| Total equity and liabilities | 10/49 | €240,076 | €179,047 | -€61,028 | -25.4% |
| Equity | 10/15 | €83,160 | €15,895 | -€67,265 | -80.9% |
| Contributions | 10/11 | €67,600 | €67,600 | = | 0.0% |
| Reserves | 13 | €102,292 | €102,292 | = | 0.0% |
| Distributable reserves | 133 | €102,292 | €102,292 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,731 | -€153,996 | -€67,265 | -77.6% |
| Amounts payable | 17/49 | €156,916 | €163,152 | +€6,236 | +4.0% |
| Amounts payable after more than one year | 17 | €839 | €0 | -€839 | -100% |
| Financial debts | 170/4 | €839 | €0 | -€839 | -100% |
| Amounts payable within one year | 42/48 | €156,077 | €163,152 | +€7,075 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €4,997 | €839 | -€4,158 | -83.2% |
| Trade debts | 44 | €136,737 | €108,312 | -€28,425 | -20.8% |
| Suppliers | 440/4 | €136,737 | €108,312 | -€28,425 | -20.8% |
| Taxes, remuneration and social security | 45 | €2,544 | €2,645 | +€101 | +4.0% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €2,544 | €2,645 | +€101 | +4.0% |
| Other amounts payable | 47/48 | €11,799 | €51,356 | +€39,557 | +335% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €21,732 | €22,266 | +€533 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,333 | €13,333 | = | 0.0% |
| Other operating charges | 640/8 | €1,515 | €1,484 | -€31 | -2.0% |
| Gross operating margin | 9900 | -€8,546 | -€31,434 | -€22,888 | -268% |
| Operating profit (loss) | 9901 | -€45,127 | -€68,517 | -€23,390 | -51.8% |
| Financial income | 75/76B | €1,879 | €2,810 | +€931 | +49.6% |
| Recurring financial income | 75 | €1,879 | €2,810 | +€931 | +49.6% |
| Financial charges | 65/66B | €2,190 | €1,558 | -€632 | -28.9% |
| Recurring financial charges | 65 | €2,190 | €1,558 | -€632 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | -€45,438 | -€67,265 | -€21,827 | -48.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€45,438 | -€67,265 | -€21,827 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,438 | -€67,265 | -€21,827 | -48.0% |
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 14 October 2026 via checked.be.