De Koerier: 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 Koerier
Largest movements
- Tangible fixed assets -€10,245
down €10,245 (-10.9%), from €93,886 to €83,641
of which Plant, machinery and equipment: -€5,408
- Deferred charges and accrued income -€3,346
down €3,346 (-92.7%), from €3,611 to €265
- Receivables within one year -€2,666
down €2,666 (-36.8%), from €7,253 to €4,587
of which Trade receivables: -€2,737
- Profit (loss) carried forward -€17,709
down €17,709, from €955 to -€16,754
- Other debts -€17,449
down €17,449 (-40.2%), from €43,354 to €25,905
- Trade debts +€13,431
up €13,431 (+49.0%), from €27,437 to €40,868
- Short-term financial debts +€8,310
up €8,310 (+309%), from €2,690 to €11,000
- Current portion of long-term debt +€7,110
new in 2025: €7,110
- Gross operating margin -€36,912
down €36,912 (-45.6%), from €80,973 to €44,061
- Staff costs -€17,697
down €17,697 (-28.3%), from €62,532 to €44,835
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 | €138,567 | €120,605 | -€17,962 | -13.0% |
| Fixed assets | 21/28 | €101,096 | €90,851 | -€10,245 | -10.1% |
| Tangible fixed assets | 22/27 | €93,886 | €83,641 | -€10,245 | -10.9% |
| Plant, machinery and equipment | 23 | €25,455 | €20,047 | -€5,408 | -21.2% |
| Furniture and vehicles | 24 | €2,047 | €1,497 | -€550 | -26.9% |
| Other tangible fixed assets | 26 | €66,384 | €62,097 | -€4,286 | -6.5% |
| Financial fixed assets | 28 | €7,210 | €7,210 | = | 0.0% |
| Current assets | 29/58 | €37,471 | €29,754 | -€7,717 | -20.6% |
| Stocks and contracts in progress | 3 | €20,603 | €19,350 | -€1,253 | -6.1% |
| Stocks | 30/36 | €20,603 | €19,350 | -€1,253 | -6.1% |
| Amounts receivable within one year | 40/41 | €7,253 | €4,587 | -€2,666 | -36.8% |
| Trade receivables | 40 | €7,253 | €4,516 | -€2,737 | -37.7% |
| Other amounts receivable | 41 | - | €71 | +€71 | |
| Cash at bank and in hand | 54/58 | €6,004 | €5,552 | -€452 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,611 | €265 | -€3,346 | -92.7% |
| Total equity and liabilities | 10/49 | €138,567 | €120,605 | -€17,962 | -13.0% |
| Equity | 10/15 | €29,555 | €11,846 | -€17,709 | -59.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €955 | -€16,754 | -€17,709 | |
| Amounts payable | 17/49 | €109,012 | €108,759 | -€253 | -0.2% |
| Amounts payable after more than one year | 17 | €17,310 | €10,740 | -€6,570 | -38.0% |
| Financial debts | 170/4 | €17,310 | €10,740 | -€6,570 | -38.0% |
| Amounts payable within one year | 42/48 | €91,702 | €98,019 | +€6,317 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,110 | +€7,110 | |
| Financial debts | 43 | €2,690 | €11,000 | +€8,310 | +309% |
| Credit institutions | 430/8 | €2,690 | €11,000 | +€8,310 | +309% |
| Trade debts | 44 | €27,437 | €40,868 | +€13,431 | +49.0% |
| Suppliers | 440/4 | €27,437 | €40,868 | +€13,431 | +49.0% |
| Taxes, remuneration and social security | 45 | €18,221 | €13,135 | -€5,086 | -27.9% |
| Taxes | 450/3 | €7,705 | €7,171 | -€535 | -6.9% |
| Remuneration and social security | 454/9 | €10,515 | €5,964 | -€4,551 | -43.3% |
| Other amounts payable | 47/48 | €43,354 | €25,905 | -€17,449 | -40.2% |
| Remuneration, social security and pensions | 62 | €62,532 | €44,835 | -€17,697 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,998 | €12,562 | -€436 | -3.4% |
| Other operating charges | 640/8 | €2,335 | €2,450 | +€115 | +4.9% |
| Gross operating margin | 9900 | €80,973 | €44,061 | -€36,912 | -45.6% |
| Operating profit (loss) | 9901 | €3,108 | -€15,786 | -€18,893 | |
| Financial income | 75/76B | €23 | €1 | -€22 | -94.4% |
| Recurring financial income | 75 | €23 | €1 | -€22 | -94.4% |
| Financial charges | 65/66B | €2,047 | €1,925 | -€122 | -6.0% |
| Recurring financial charges | 65 | €2,047 | €1,925 | -€122 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €1,084 | -€17,709 | -€18,793 | |
| Profit (loss) for the period | 9904 | €1,084 | -€17,709 | -€18,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,084 | -€17,709 | -€18,793 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.