DR. COENEN CLEMENT: what changed
DR. COENEN CLEMENT
Largest movements
- Cash +€51,359
up €51,359 (+7.2%), from €717,342 to €768,702
mainly Net result for the year (+€24,656) and Depreciation (+€12,821)
- Tangible fixed assets -€11,810
down €11,810 (-29.1%), from €40,628 to €28,819
of which Other tangible fixed assets: -€6,168
- Reserves +€24,656
up €24,656 (+4.6%), from €540,906 to €565,563
- Other debts +€12,188
up €12,188 (+4.8%), from €254,752 to €266,941
- Gross operating margin -€83,126
down €83,126 (-40.9%), from €203,193 to €120,068
- Financial charges -€25,618
down €25,618 (-61.1%), from €41,906 to €16,288
- Taxes -€15,204
down €15,204 (-54.2%), from €28,065 to €12,861
- Depreciation -€6,653
down €6,653 (-34.2%), from €19,474 to €12,821
- Financial income +€5,196
up €5,196 (+403%), from €1,288 to €6,485
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €845,154 | €879,680 | +€34,526 | +4.1% |
| Fixed assets | 21/28 | €40,628 | €28,819 | -€11,810 | -29.1% |
| Tangible fixed assets | 22/27 | €40,628 | €28,819 | -€11,810 | -29.1% |
| Land and buildings | 22 | €24,298 | €23,886 | -€411 | -1.7% |
| Plant, machinery and equipment | 23 | €1,916 | €1,437 | -€479 | -25.0% |
| Furniture and vehicles | 24 | €5,613 | €862 | -€4,751 | -84.6% |
| Other tangible fixed assets | 26 | €8,802 | €2,634 | -€6,168 | -70.1% |
| Current assets | 29/58 | €804,526 | €850,862 | +€46,336 | +5.8% |
| Stocks and contracts in progress | 3 | €30,000 | €24,500 | -€5,500 | -18.3% |
| Stocks | 30/36 | €30,000 | €24,500 | -€5,500 | -18.3% |
| Amounts receivable within one year | 40/41 | €57,184 | €57,660 | +€476 | +0.8% |
| Trade receivables | 40 | €27,744 | €26,273 | -€1,471 | -5.3% |
| Other amounts receivable | 41 | €29,439 | €31,387 | +€1,947 | +6.6% |
| Cash at bank and in hand | 54/58 | €717,342 | €768,702 | +€51,359 | +7.2% |
| Total equity and liabilities | 10/49 | €845,154 | €879,680 | +€34,526 | +4.1% |
| Equity | 10/15 | €559,506 | €584,163 | +€24,656 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €540,906 | €565,563 | +€24,656 | +4.6% |
| Distributable reserves | 133 | €540,906 | €565,563 | +€24,656 | +4.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €285,648 | €295,518 | +€9,870 | +3.5% |
| Amounts payable within one year | 42/48 | €285,648 | €295,518 | +€9,870 | +3.5% |
| Trade debts | 44 | €5,529 | €10,240 | +€4,711 | +85.2% |
| Suppliers | 440/4 | €5,529 | €10,240 | +€4,711 | +85.2% |
| Taxes, remuneration and social security | 45 | €25,366 | €18,337 | -€7,029 | -27.7% |
| Taxes | 450/3 | €14,529 | €7,268 | -€7,261 | -50.0% |
| Remuneration and social security | 454/9 | €10,837 | €11,069 | +€232 | +2.1% |
| Other amounts payable | 47/48 | €254,752 | €266,941 | +€12,188 | +4.8% |
| Remuneration, social security and pensions | 62 | €56,188 | €57,920 | +€1,732 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,474 | €12,821 | -€6,653 | -34.2% |
| Other operating charges | 640/8 | €2,551 | €2,006 | -€545 | -21.4% |
| Gross operating margin | 9900 | €203,193 | €120,068 | -€83,126 | -40.9% |
| Operating profit (loss) | 9901 | €124,980 | €47,321 | -€77,660 | -62.1% |
| Financial income | 75/76B | €1,288 | €6,485 | +€5,196 | +403% |
| Recurring financial income | 75 | €1,288 | €6,485 | +€5,196 | +403% |
| Financial charges | 65/66B | €41,906 | €16,288 | -€25,618 | -61.1% |
| Recurring financial charges | 65 | €41,906 | €16,288 | -€25,618 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €84,363 | €37,517 | -€46,846 | -55.5% |
| Income taxes | 67/77 | €28,065 | €12,861 | -€15,204 | -54.2% |
| Profit (loss) for the period | 9904 | €56,298 | €24,656 | -€31,642 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,298 | €24,656 | -€31,642 | -56.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.