DE KOETSGANG: 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 KOETSGANG
Largest movements
- Cash -€20,980
down €20,980 (-34.8%), from €60,209 to €39,229
mainly Investment in fixed assets (net) (-€20,615) and Tax, wage and social debts (-€10,564)
- Tangible fixed assets +€14,408
up €14,408 (+6.4%), from €225,306 to €239,714
of which Other tangible fixed assets: +€10,188
- Tax, wage and social debts -€10,564
down €10,564 (-63.7%), from €16,592 to €6,028
of which Taxes: -€10,150
- Reserves +€7,105
up €7,105 (+2.7%), from €262,641 to €269,746
- Debts after one year -€6,931
down €6,931 (-51.1%), from €13,574 to €6,642
- Gross operating margin -€14,036
down €14,036 (-28.9%), from €48,578 to €34,542
- Taxes -€5,046
down €5,046 (-35.3%), from €14,287 to €9,241
- Depreciation +€3,359
up €3,359 (+118%), from €2,848 to €6,207
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 | €327,314 | €319,281 | -€8,033 | -2.5% |
| Fixed assets | 21/28 | €225,306 | €239,714 | +€14,408 | +6.4% |
| Tangible fixed assets | 22/27 | €225,306 | €239,714 | +€14,408 | +6.4% |
| Land and buildings | 22 | €213,973 | €219,799 | +€5,826 | +2.7% |
| Plant, machinery and equipment | 23 | €4,790 | €2,854 | -€1,936 | -40.4% |
| Furniture and vehicles | 24 | €6,543 | €6,873 | +€330 | +5.0% |
| Other tangible fixed assets | 26 | - | €10,188 | +€10,188 | |
| Current assets | 29/58 | €102,008 | €79,567 | -€22,441 | -22.0% |
| Amounts receivable after more than one year | 29 | €34,000 | €32,000 | -€2,000 | -5.9% |
| Other amounts receivable | 291 | €34,000 | €32,000 | -€2,000 | -5.9% |
| Amounts receivable within one year | 40/41 | - | €865 | +€865 | |
| Other amounts receivable | 41 | - | €865 | +€865 | |
| Cash at bank and in hand | 54/58 | €60,209 | €39,229 | -€20,980 | -34.8% |
| Deferred charges and accrued income | 490/1 | €7,799 | €7,474 | -€325 | -4.2% |
| Total equity and liabilities | 10/49 | €327,314 | €319,281 | -€8,033 | -2.5% |
| Equity | 10/15 | €284,951 | €292,056 | +€7,105 | +2.5% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Contributions outside capital | 11 | €22,310 | €22,310 | = | 0.0% |
| Other | 1109/19 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €262,641 | €269,746 | +€7,105 | +2.7% |
| Distributable reserves | 133 | €262,641 | €269,746 | +€7,105 | +2.7% |
| Amounts payable | 17/49 | €42,363 | €27,225 | -€15,138 | -35.7% |
| Amounts payable after more than one year | 17 | €13,574 | €6,642 | -€6,931 | -51.1% |
| Financial debts | 170/4 | €13,574 | €6,642 | -€6,931 | -51.1% |
| Amounts payable within one year | 42/48 | €28,789 | €18,762 | -€10,028 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €7,102 | €6,931 | -€170 | -2.4% |
| Trade debts | 44 | €3,096 | €3,723 | +€626 | +20.2% |
| Suppliers | 440/4 | €3,096 | €3,723 | +€626 | +20.2% |
| Taxes, remuneration and social security | 45 | €16,592 | €6,028 | -€10,564 | -63.7% |
| Taxes | 450/3 | €16,178 | €6,028 | -€10,150 | -62.7% |
| Remuneration and social security | 454/9 | €414 | - | -€414 | |
| Other amounts payable | 47/48 | €1,999 | €2,080 | +€81 | +4.0% |
| Accrued charges and deferred income | 492/3 | - | €1,821 | +€1,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,848 | €6,207 | +€3,359 | +118% |
| Other operating charges | 640/8 | €2,001 | €2,318 | +€317 | +15.8% |
| Gross operating margin | 9900 | €48,578 | €34,542 | -€14,036 | -28.9% |
| Operating profit (loss) | 9901 | €43,729 | €26,017 | -€17,712 | -40.5% |
| Financial income | 75/76B | €1,765 | €1,980 | +€215 | +12.2% |
| Recurring financial income | 75 | €1,765 | €1,980 | +€215 | +12.2% |
| Financial charges | 65/66B | €2,239 | €2,255 | +€17 | +0.7% |
| Recurring financial charges | 65 | €2,239 | €2,255 | +€17 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €43,255 | €25,741 | -€17,514 | -40.5% |
| Income taxes | 67/77 | €14,287 | €9,241 | -€5,046 | -35.3% |
| Profit (loss) for the period | 9904 | €28,968 | €16,500 | -€12,468 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,968 | €16,500 | -€12,468 | -43.0% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.