DE KOERANT: 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 KOERANT
Largest movements
- Receivables within one year -€4,804
down €4,804 (-76.9%), from €6,248 to €1,444
of which Other amounts receivable: -€5,055
- Stocks and contracts -€3,599
down €3,599 (-6.1%), from €58,568 to €54,969
- Tangible fixed assets -€2,810
down €2,810 (-23.7%), from €11,860 to €9,050
- Trade debts -€12,881
down €12,881 (-41.5%), from €31,055 to €18,174
- Other debts +€9,121
new in 2025: €9,121
- Reserves -€8,949
down €8,949 (-6.2%), from €144,248 to €135,299
of which Distributable reserves: -€8,949
- Tax, wage and social debts +€4,387
up €4,387 (+876.3%), from €501 to €4,887
of which Remuneration and social security: +€3,966
- Short-term financial debts -€2,788
no longer reported in 2025 (was €2,788)
of which Other loans: -€1,718
- Staff costs +€6,137
up €6,137 (+303.1%), from €2,025 to €8,161
- Gross operating margin -€3,812
down €3,812 (-36.0%), from €10,578 to €6,766
- Financial charges -€3,273
down €3,273 (-41.2%), from €7,940 to €4,667
- Taxes -€2,767
down €2,767, from €928 to -€1,839
- Depreciation +€254
up €254 (+9.9%), from €2,556 to €2,810
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,689 | €180,579 | -€11,110 | -5.8% |
| Fixed assets | 21/28 | €21,211 | €18,504 | -€2,707 | -12.8% |
| Tangible fixed assets | 22/27 | €11,860 | €9,050 | -€2,810 | -23.7% |
| Plant, machinery and equipment | 23 | €767 | €226 | -€541 | -70.6% |
| Furniture and vehicles | 24 | €3,603 | €2,722 | -€881 | -24.5% |
| Other tangible fixed assets | 26 | €7,490 | €6,102 | -€1,388 | -18.5% |
| Financial fixed assets | 28 | €9,351 | €9,454 | +€104 | +1.1% |
| Current assets | 29/58 | €170,478 | €162,074 | -€8,403 | -4.9% |
| Amounts receivable after more than one year | 29 | €104,248 | €104,248 | = | 0.0% |
| Other amounts receivable | 291 | €104,248 | €104,248 | = | 0.0% |
| Stocks and contracts in progress | 3 | €58,568 | €54,969 | -€3,599 | -6.1% |
| Stocks | 30/36 | €58,568 | €54,969 | -€3,599 | -6.1% |
| Amounts receivable within one year | 40/41 | €6,248 | €1,444 | -€4,804 | -76.9% |
| Trade receivables | 40 | €1,193 | €1,444 | +€251 | +21.0% |
| Other amounts receivable | 41 | €5,055 | - | -€5,055 | |
| Deferred charges and accrued income | 490/1 | €1,413 | €1,413 | = | 0.0% |
| Total equity and liabilities | 10/49 | €191,689 | €180,579 | -€11,110 | -5.8% |
| Equity | 10/15 | €150,445 | €141,496 | -€8,949 | -5.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Outside capital | 11 | €6,197 | €6,197 | = | 0.0% |
| Other | 1109/19 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €144,248 | €135,299 | -€8,949 | -6.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €142,388 | €133,440 | -€8,949 | -6.3% |
| Amounts payable | 17/49 | €41,244 | €39,082 | -€2,161 | -5.2% |
| Amounts payable after more than one year | 17 | €6,900 | €6,900 | = | 0.0% |
| Financial debts | 170/4 | €6,900 | €6,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,344 | €32,182 | -€2,161 | -6.3% |
| Financial debts | 43 | €2,788 | - | -€2,788 | |
| Credit institutions | 430/8 | €1,070 | - | -€1,070 | |
| Other loans | 439 | €1,718 | - | -€1,718 | |
| Trade debts | 44 | €31,055 | €18,174 | -€12,881 | -41.5% |
| Suppliers | 440/4 | €31,055 | €18,174 | -€12,881 | -41.5% |
| Taxes, remuneration and social security | 45 | €501 | €4,887 | +€4,387 | +876.3% |
| Taxes | 450/3 | - | €421 | +€421 | |
| Remuneration and social security | 454/9 | €501 | €4,466 | +€3,966 | +792.2% |
| Other amounts payable | 47/48 | - | €9,121 | +€9,121 | |
| Remuneration, social security and pensions | 62 | €2,025 | €8,161 | +€6,137 | +303.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,556 | €2,810 | +€254 | +9.9% |
| Other operating charges | 640/8 | €1,703 | €1,916 | +€213 | +12.5% |
| Gross operating margin | 9900 | €10,578 | €6,766 | -€3,812 | -36.0% |
| Operating profit (loss) | 9901 | €4,294 | -€6,121 | -€10,415 | |
| Financial income | 75/76B | €84 | €1 | -€83 | -99.4% |
| Recurring financial income | 75 | €84 | €1 | -€83 | -99.4% |
| Financial charges | 65/66B | €7,940 | €4,667 | -€3,273 | -41.2% |
| Recurring financial charges | 65 | €7,940 | €4,667 | -€3,273 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,562 | -€10,788 | -€7,226 | -202.9% |
| Income taxes | 67/77 | €928 | -€1,839 | -€2,767 | |
| Profit (loss) for the period | 9904 | -€4,489 | -€8,949 | -€4,459 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,489 | -€8,949 | -€4,459 | -99.3% |
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 6 October 2026 via checked.be.