DE KOEK: 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 KOEK
Largest movements
- Cash -€56,353
down €56,353 (-81.0%), from €69,575 to €13,222
mainly Trade debts (-€55,298) and Investment in fixed assets (net) (-€54,377)
- Receivables within one year -€30,777
down €30,777 (-60.4%), from €50,940 to €20,162
of which Trade receivables: -€26,028
- Tangible fixed assets +€26,723
up €26,723 (+34.5%), from €77,524 to €104,247
of which Plant, machinery and equipment: +€34,793
- Deferred charges and accrued income +€3,788
up €3,788 (+69.2%), from €5,470 to €9,258
- Trade debts -€55,298
down €55,298 (-79.2%), from €69,836 to €14,538
- Other debts +€31,718
up €31,718, from €0 to €31,718
- Profit (loss) carried forward -€28,523
down €28,523, from €0 to -€28,523
- Tax, wage and social debts -€3,701
down €3,701 (-33.8%), from €10,953 to €7,252
of which Taxes: -€3,284
- Current portion of long-term debt +€2,362
up €2,362 (+35.1%), from €6,727 to €9,088
- Gross operating margin -€28,260
down €28,260 (-29.3%), from €96,304 to €68,045
- Staff costs +€7,949
up €7,949 (+13.8%), from €57,605 to €65,554
- Depreciation +€2,146
up €2,146 (+8.4%), from €25,470 to €27,616
- Taxes -€1,057
down €1,057 (-100.0%), from €1,057 to €0
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 | €216,980 | €162,474 | -€54,506 | -25.1% |
| Fixed assets | 21/28 | €81,159 | €107,920 | +€26,761 | +33.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €77,524 | €104,247 | +€26,723 | +34.5% |
| Plant, machinery and equipment | 23 | €17,755 | €52,548 | +€34,793 | +196.0% |
| Furniture and vehicles | 24 | €8,224 | €11,161 | +€2,937 | +35.7% |
| Leasing and similar rights | 25 | €14,095 | €6,859 | -€7,236 | -51.3% |
| Other tangible fixed assets | 26 | €37,450 | €33,679 | -€3,771 | -10.1% |
| Financial fixed assets | 28 | €3,635 | €3,673 | +€38 | +1.0% |
| Current assets | 29/58 | €135,822 | €54,554 | -€81,267 | -59.8% |
| Stocks and contracts in progress | 3 | €9,837 | €11,912 | +€2,075 | +21.1% |
| Stocks | 30/36 | €9,837 | €11,912 | +€2,075 | +21.1% |
| Amounts receivable within one year | 40/41 | €50,940 | €20,162 | -€30,777 | -60.4% |
| Trade receivables | 40 | €34,407 | €8,379 | -€26,028 | -75.6% |
| Other amounts receivable | 41 | €16,532 | €11,783 | -€4,749 | -28.7% |
| Cash at bank and in hand | 54/58 | €69,575 | €13,222 | -€56,353 | -81.0% |
| Deferred charges and accrued income | 490/1 | €5,470 | €9,258 | +€3,788 | +69.2% |
| Total equity and liabilities | 10/49 | €216,980 | €162,474 | -€54,506 | -25.1% |
| Equity | 10/15 | €120,389 | €91,866 | -€28,523 | -23.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,189 | €114,189 | = | 0.0% |
| Distributable reserves | 133 | €114,189 | €114,189 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€28,523 | -€28,523 | |
| Amounts payable | 17/49 | €96,592 | €70,608 | -€25,983 | -26.9% |
| Amounts payable after more than one year | 17 | €6,805 | €7,234 | +€429 | +6.3% |
| Financial debts | 170/4 | €6,805 | €7,234 | +€429 | +6.3% |
| Amounts payable within one year | 42/48 | €89,787 | €63,052 | -€26,734 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €6,727 | €9,088 | +€2,362 | +35.1% |
| Financial debts | 43 | €2,271 | €456 | -€1,815 | -79.9% |
| Other loans | 439 | €2,271 | €456 | -€1,815 | -79.9% |
| Trade debts | 44 | €69,836 | €14,538 | -€55,298 | -79.2% |
| Suppliers | 440/4 | €69,836 | €14,538 | -€55,298 | -79.2% |
| Taxes, remuneration and social security | 45 | €10,953 | €7,252 | -€3,701 | -33.8% |
| Taxes | 450/3 | €5,994 | €2,710 | -€3,284 | -54.8% |
| Remuneration and social security | 454/9 | €4,959 | €4,542 | -€417 | -8.4% |
| Other amounts payable | 47/48 | €0 | €31,718 | +€31,718 | |
| Accrued charges and deferred income | 492/3 | - | €322 | +€322 | |
| Remuneration, social security and pensions | 62 | €57,605 | €65,554 | +€7,949 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,470 | €27,616 | +€2,146 | +8.4% |
| Other operating charges | 640/8 | €955 | €1,766 | +€811 | +85.0% |
| Non-recurring operating charges | 66A | €568 | €325 | -€242 | -42.7% |
| Gross operating margin | 9900 | €96,304 | €68,045 | -€28,260 | -29.3% |
| Operating profit (loss) | 9901 | €11,707 | -€27,217 | -€38,923 | |
| Financial income | 75/76B | €509 | €58 | -€451 | -88.7% |
| Recurring financial income | 75 | €509 | €58 | -€451 | -88.7% |
| Financial charges | 65/66B | €593 | €1,364 | +€771 | +129.9% |
| Recurring financial charges | 65 | €593 | €1,364 | +€771 | +129.9% |
| Profit (loss) for the period before taxes | 9903 | €11,622 | -€28,523 | -€40,145 | |
| Income taxes | 67/77 | €1,057 | €0 | -€1,057 | -100.0% |
| Profit (loss) for the period | 9904 | €10,566 | -€28,523 | -€39,089 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,566 | -€28,523 | -€39,089 |
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 10 October 2026 via checked.be.