De Kouter: 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 Kouter
Largest movements
- Current investments -€98,144
down €98,144 (-9.2%), from €1.1m to €972,084
- Tangible fixed assets -€25,160
down €25,160 (-2.8%), from €897,379 to €872,219
of which Land and buildings: -€29,732
- Other debts -€76,309
down €76,309 (-50.3%), from €151,782 to €75,473
- Reserves -€52,312
down €52,312 (-6.6%), from €793,307 to €740,995
of which Distributable reserves: -€33,464
- Financial income +€24,146
up €24,146 (+115.5%), from €20,911 to €45,058
- Financial charges +€8,486
up €8,486, from -€8,443 to €43
- Depreciation -€7,690
down €7,690 (-20.0%), from €38,368 to €30,678
- Taxes +€4,448
up €4,448 (+161.1%), from €2,760 to €7,208
- Write-downs -€4,090
new in 2025: -€4,090
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 | €2,032,022 | €1,890,306 | -€141,716 | -7.0% |
| Fixed assets | 21/28 | €897,379 | €872,219 | -€25,160 | -2.8% |
| Tangible fixed assets | 22/27 | €897,379 | €872,219 | -€25,160 | -2.8% |
| Land and buildings | 22 | €893,542 | €863,810 | -€29,732 | -3.3% |
| Furniture and vehicles | 24 | €1,930 | €1,715 | -€214 | -11.1% |
| Other tangible fixed assets | 26 | €1,908 | €6,694 | +€4,786 | +250.9% |
| Current assets | 29/58 | €1,134,643 | €1,018,087 | -€116,556 | -10.3% |
| Amounts receivable within one year | 40/41 | €12,886 | €10,512 | -€2,373 | -18.4% |
| Other amounts receivable | 41 | €12,886 | €10,512 | -€2,373 | -18.4% |
| Current investments | 50/53 | €1,070,228 | €972,084 | -€98,144 | -9.2% |
| Cash at bank and in hand | 54/58 | €51,529 | €35,490 | -€16,039 | -31.1% |
| Total equity and liabilities | 10/49 | €2,032,022 | €1,890,306 | -€141,716 | -7.0% |
| Equity | 10/15 | €1,677,780 | €1,625,468 | -€52,312 | -3.1% |
| Contributions | 10/11 | €884,473 | €884,473 | = | 0.0% |
| Reserves | 13 | €793,307 | €740,995 | -€52,312 | -6.6% |
| Tax-exempt reserves | 132 | €358,593 | €339,745 | -€18,848 | -5.3% |
| Distributable reserves | 133 | €434,714 | €401,250 | -€33,464 | -7.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €198,745 | €185,880 | -€12,865 | -6.5% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €5,910 | -€4,090 | -40.9% |
| Major repairs and maintenance | 162 | €10,000 | €5,910 | -€4,090 | -40.9% |
| Deferred taxes | 168 | €188,745 | €179,970 | -€8,775 | -4.6% |
| Amounts payable | 17/49 | €155,498 | €78,959 | -€76,539 | -49.2% |
| Amounts payable within one year | 42/48 | €154,843 | €78,304 | -€76,539 | -49.4% |
| Financial debts | 43 | €1 | €0 | -€1 | -100.0% |
| Credit institutions | 430/8 | €1 | €0 | -€1 | -100.0% |
| Trade debts | 44 | €3,060 | €2,831 | -€229 | -7.5% |
| Suppliers | 440/4 | €3,060 | €2,831 | -€229 | -7.5% |
| Other amounts payable | 47/48 | €151,782 | €75,473 | -€76,309 | -50.3% |
| Accrued charges and deferred income | 492/3 | €655 | €655 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,368 | €30,678 | -€7,690 | -20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,090 | -€4,090 | |
| Other operating charges | 640/8 | €5,872 | €8,785 | +€2,914 | +49.6% |
| Gross operating margin | 9900 | €12,939 | €11,480 | -€1,459 | -11.3% |
| Operating profit (loss) | 9901 | -€31,301 | -€23,893 | +€7,408 | +23.7% |
| Financial income | 75/76B | €20,911 | €45,058 | +€24,146 | +115.5% |
| Recurring financial income | 75 | €20,911 | €45,058 | +€24,146 | +115.5% |
| Financial charges | 65/66B | -€8,443 | €43 | +€8,486 | |
| Recurring financial charges | 65 | -€8,443 | €43 | +€8,486 | |
| Profit (loss) for the period before taxes | 9903 | -€1,946 | €21,122 | +€23,068 | |
| Transfer from deferred taxes | 780 | €8,774 | €8,775 | +€0 | 0.0% |
| Income taxes | 67/77 | €2,760 | €7,208 | +€4,448 | +161.1% |
| Profit (loss) for the period | 9904 | €4,067 | €22,688 | +€18,620 | +457.8% |
| Transfer from tax-exempt reserves | 789 | €18,848 | €18,848 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,916 | €41,536 | +€18,620 | +81.3% |
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 1 October 2026 via checked.be.