DR FRIEDA COECKELBERGH: 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.
DR FRIEDA COECKELBERGH
Largest movements
- Current investments +€149,982
new in 2025: €149,982
- Cash -€123,582
down €123,582 (-72.1%), from €171,373 to €47,791
mainly Current investments (-€149,982) and Contributions, distributions and other (-€32,088)
- Deferred charges and accrued income +€13,315
up €13,315 (+680%), from €1,959 to €15,274
- Tangible fixed assets -€6,110
down €6,110 (-100%), from €6,110 to €0
- Receivables within one year +€3,014
up €3,014 (+7.0%), from €42,755 to €45,769
of which Other amounts receivable: +€16,799
- Other debts +€31,715
up €31,715 (+52.6%), from €60,242 to €91,957
- Reserves +€5,879
up €5,879 (+4.2%), from €141,472 to €147,351
- Trade debts -€3,613
down €3,613 (-48.2%), from €7,493 to €3,881
- Tax, wage and social debts +€2,638
up €2,638 (+448%), from €589 to €3,227
- Gross operating margin +€16,428
up €16,428 (+36.7%), from €44,729 to €61,157
- Taxes +€4,573
up €4,573 (+46.5%), from €9,829 to €14,402
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 | €222,197 | €258,816 | +€36,619 | +16.5% |
| Fixed assets | 21/28 | €6,110 | €0 | -€6,110 | -100% |
| Tangible fixed assets | 22/27 | €6,110 | €0 | -€6,110 | -100% |
| Furniture and vehicles | 24 | €6,110 | €0 | -€6,110 | -100% |
| Current assets | 29/58 | €216,087 | €258,816 | +€42,729 | +19.8% |
| Amounts receivable within one year | 40/41 | €42,755 | €45,769 | +€3,014 | +7.0% |
| Trade receivables | 40 | €13,785 | €0 | -€13,785 | -100% |
| Other amounts receivable | 41 | €28,970 | €45,769 | +€16,799 | +58.0% |
| Current investments | 50/53 | - | €149,982 | +€149,982 | |
| Cash at bank and in hand | 54/58 | €171,373 | €47,791 | -€123,582 | -72.1% |
| Deferred charges and accrued income | 490/1 | €1,959 | €15,274 | +€13,315 | +680% |
| Total equity and liabilities | 10/49 | €222,197 | €258,816 | +€36,619 | +16.5% |
| Equity | 10/15 | €153,872 | €159,751 | +€5,879 | +3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €141,472 | €147,351 | +€5,879 | +4.2% |
| Distributable reserves | 133 | €141,472 | €147,351 | +€5,879 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €68,325 | €99,065 | +€30,740 | +45.0% |
| Amounts payable within one year | 42/48 | €68,325 | €99,065 | +€30,740 | +45.0% |
| Trade debts | 44 | €7,493 | €3,881 | -€3,613 | -48.2% |
| Suppliers | 440/4 | €7,493 | €3,881 | -€3,613 | -48.2% |
| Taxes, remuneration and social security | 45 | €589 | €3,227 | +€2,638 | +448% |
| Taxes | 450/3 | €589 | €3,227 | +€2,638 | +448% |
| Other amounts payable | 47/48 | €60,242 | €91,957 | +€31,715 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,482 | €6,110 | -€372 | -5.7% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €44,729 | €61,157 | +€16,428 | +36.7% |
| Operating profit (loss) | 9901 | €37,720 | €54,504 | +€16,784 | +44.5% |
| Financial income | 75/76B | €9 | €3 | -€6 | -64.7% |
| Recurring financial income | 75 | €9 | €3 | -€6 | -64.7% |
| Financial charges | 65/66B | €2,116 | €2,139 | +€23 | +1.1% |
| Recurring financial charges | 65 | €2,116 | €2,139 | +€23 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €35,613 | €52,368 | +€16,756 | +47.0% |
| Income taxes | 67/77 | €9,829 | €14,402 | +€4,573 | +46.5% |
| Profit (loss) for the period | 9904 | €25,784 | €37,966 | +€12,182 | +47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,784 | €37,966 | +€12,182 | +47.2% |
Source: filed annual accounts (NBB), financial 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 November 2026 via checked.be.