DE KOETSE: 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 KOETSE
Largest movements
- Receivables within one year +€61,465
up €61,465 (+44.4%), from €138,396 to €199,861
of which Other amounts receivable: +€35,487
- Tangible fixed assets -€38,086
down €38,086 (-12.0%), from €316,927 to €278,841
- Cash -€23,441
down €23,441 (-71.9%), from €32,592 to €9,151
mainly Receivables within one year (-€61,465) and Trade debts (-€15,192)
- Trade debts -€15,192
down €15,192 (-20.4%), from €74,562 to €59,370
- Profit (loss) carried forward +€12,911
up €12,911 (+3.2%), from -€398,623 to -€385,712
- Debts after one year +€7,228
up €7,228 (+23.0%), from €31,445 to €38,673
of which Financial debts: +€7,228
- Tax, wage and social debts -€5,420
down €5,420 (-37.6%), from €14,417 to €8,996
of which Remuneration and social security: -€4,059
- Gross operating margin +€39,174
up €39,174 (+26.4%), from €148,118 to €187,292
- Taxes -€18,069
down €18,069 (-99.0%), from €18,258 to €189
- Staff costs +€9,627
up €9,627 (+8.6%), from €112,580 to €122,206
- Financial income +€5,001
up €5,001 (+167%), from €2,986 to €7,987
- Depreciation +€2,293
up €2,293 (+6.3%), from €36,396 to €38,690
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 | €508,620 | €503,193 | -€5,427 | -1.1% |
| Fixed assets | 21/28 | €320,047 | €281,961 | -€38,086 | -11.9% |
| Tangible fixed assets | 22/27 | €316,927 | €278,841 | -€38,086 | -12.0% |
| Land and buildings | 22 | €237,000 | €223,808 | -€13,192 | -5.6% |
| Plant, machinery and equipment | 23 | €45,287 | €36,506 | -€8,782 | -19.4% |
| Furniture and vehicles | 24 | €2,591 | €1,851 | -€741 | -28.6% |
| Other tangible fixed assets | 26 | €32,049 | €16,677 | -€15,372 | -48.0% |
| Financial fixed assets | 28 | €3,120 | €3,120 | = | 0.0% |
| Current assets | 29/58 | €188,573 | €221,232 | +€32,659 | +17.3% |
| Stocks and contracts in progress | 3 | €14,682 | €10,384 | -€4,298 | -29.3% |
| Stocks | 30/36 | €14,682 | €10,384 | -€4,298 | -29.3% |
| Amounts receivable within one year | 40/41 | €138,396 | €199,861 | +€61,465 | +44.4% |
| Trade receivables | 40 | €9,017 | €34,995 | +€25,978 | +288% |
| Other amounts receivable | 41 | €129,379 | €164,866 | +€35,487 | +27.4% |
| Cash at bank and in hand | 54/58 | €32,592 | €9,151 | -€23,441 | -71.9% |
| Deferred charges and accrued income | 490/1 | €2,902 | €1,835 | -€1,067 | -36.8% |
| Total equity and liabilities | 10/49 | €508,620 | €503,193 | -€5,427 | -1.1% |
| Equity | 10/15 | €383,192 | €396,103 | +€12,911 | +3.4% |
| Contributions | 10/11 | €640,000 | €640,000 | = | 0.0% |
| Capital | 10 | €640,000 | €640,000 | = | 0.0% |
| Issued capital | 100 | €640,000 | €640,000 | = | 0.0% |
| Reserves | 13 | €141,815 | €141,815 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,676 | €5,676 | = | 0.0% |
| Legal reserve | 130 | €5,676 | €5,676 | = | 0.0% |
| Distributable reserves | 133 | €136,139 | €136,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€398,623 | -€385,712 | +€12,911 | +3.2% |
| Amounts payable | 17/49 | €125,428 | €107,090 | -€18,338 | -14.6% |
| Amounts payable after more than one year | 17 | €31,445 | €38,673 | +€7,228 | +23.0% |
| Financial debts | 170/4 | €31,445 | €38,673 | +€7,228 | +23.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €93,982 | €68,416 | -€25,566 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €4,953 | €0 | -€4,953 | -100% |
| Trade debts | 44 | €74,562 | €59,370 | -€15,192 | -20.4% |
| Suppliers | 440/4 | €74,562 | €59,370 | -€15,192 | -20.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €14,417 | €8,996 | -€5,420 | -37.6% |
| Taxes | 450/3 | €4,470 | €3,109 | -€1,361 | -30.4% |
| Remuneration and social security | 454/9 | €9,946 | €5,887 | -€4,059 | -40.8% |
| Other amounts payable | 47/48 | €50 | €50 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €112,580 | €122,206 | +€9,627 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,396 | €38,690 | +€2,293 | +6.3% |
| Other operating charges | 640/8 | €18,027 | €17,295 | -€732 | -4.1% |
| Gross operating margin | 9900 | €148,118 | €187,292 | +€39,174 | +26.4% |
| Operating profit (loss) | 9901 | -€18,884 | €9,101 | +€27,986 | |
| Financial income | 75/76B | €2,986 | €7,987 | +€5,001 | +167% |
| Recurring financial income | 75 | €2,986 | €7,987 | +€5,001 | +167% |
| Financial charges | 65/66B | €3,346 | €3,919 | +€573 | +17.1% |
| Recurring financial charges | 65 | €3,346 | €3,919 | +€573 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,245 | €13,169 | +€32,414 | |
| Income taxes | 67/77 | €18,258 | €189 | -€18,069 | -99.0% |
| Profit (loss) for the period | 9904 | -€37,503 | €12,981 | +€50,484 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,503 | €12,981 | +€50,484 |
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 18 October 2026 via checked.be.