FOTO COUDENYS: 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.
FOTO COUDENYS
Largest movements
- Cash +€229,682
up €229,682 (+29.5%), from €778,632 to €1.0m
mainly Net result for the year (+€233,888) and Trade debts (+€20,345)
- Receivables within one year +€31,520
up €31,520 (+198%), from €15,888 to €47,407
of which Trade receivables: +€31,520
- Reserves +€221,888
up €221,888 (+24.9%), from €889,715 to €1.1m
- Trade debts +€20,345
up €20,345 (+18.8%), from €108,305 to €128,650
- Tax, wage and social debts +€17,377
up €17,377 (+19.5%), from €88,959 to €106,336
of which Taxes: +€21,377
- Gross operating margin -€66,510
down €66,510 (-16.5%), from €403,217 to €336,708
- Taxes -€22,648
down €22,648 (-18.7%), from €121,355 to €98,707
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 | €1,218,978 | €1,472,687 | +€253,709 | +20.8% |
| Fixed assets | 21/28 | €31,930 | €22,276 | -€9,654 | -30.2% |
| Tangible fixed assets | 22/27 | €28,798 | €22,228 | -€6,570 | -22.8% |
| Plant, machinery and equipment | 23 | €28,212 | €22,095 | -€6,117 | -21.7% |
| Furniture and vehicles | 24 | €586 | €133 | -€453 | -77.3% |
| Financial fixed assets | 28 | €3,132 | €49 | -€3,084 | -98.5% |
| Current assets | 29/58 | €1,187,047 | €1,450,411 | +€263,363 | +22.2% |
| Amounts receivable after more than one year | 29 | €12,799 | €15,883 | +€3,084 | +24.1% |
| Other amounts receivable | 291 | €12,799 | €15,883 | +€3,084 | +24.1% |
| Stocks and contracts in progress | 3 | €379,728 | €378,806 | -€922 | -0.2% |
| Stocks | 30/36 | €379,728 | €378,806 | -€922 | -0.2% |
| Amounts receivable within one year | 40/41 | €15,888 | €47,407 | +€31,520 | +198% |
| Trade receivables | 40 | €15,888 | €47,407 | +€31,520 | +198% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €778,632 | €1,008,315 | +€229,682 | +29.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,218,978 | €1,472,687 | +€253,709 | +20.8% |
| Equity | 10/15 | €908,315 | €1,130,203 | +€221,888 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €889,715 | €1,111,603 | +€221,888 | +24.9% |
| Distributable reserves | 133 | €889,715 | €1,111,603 | +€221,888 | +24.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €310,663 | €342,484 | +€31,822 | +10.2% |
| Amounts payable within one year | 42/48 | €304,204 | €336,312 | +€32,108 | +10.6% |
| Trade debts | 44 | €108,305 | €128,650 | +€20,345 | +18.8% |
| Suppliers | 440/4 | €108,305 | €128,650 | +€20,345 | +18.8% |
| Advances received on contracts in progress | 46 | €10,108 | €2,850 | -€7,259 | -71.8% |
| Taxes, remuneration and social security | 45 | €88,959 | €106,336 | +€17,377 | +19.5% |
| Taxes | 450/3 | €84,959 | €106,336 | +€21,377 | +25.2% |
| Remuneration and social security | 454/9 | €4,000 | €0 | -€4,000 | -100% |
| Other amounts payable | 47/48 | €96,831 | €98,476 | +€1,644 | +1.7% |
| Accrued charges and deferred income | 492/3 | €6,459 | €6,173 | -€286 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,854 | €6,570 | -€284 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,354 | €2,354 | +€0 | 0.0% |
| Gross operating margin | 9900 | €403,217 | €336,708 | -€66,510 | -16.5% |
| Operating profit (loss) | 9901 | €394,009 | €327,783 | -€66,226 | -16.8% |
| Financial income | 75/76B | €15,373 | €11,882 | -€3,491 | -22.7% |
| Recurring financial income | 75 | €15,373 | €11,882 | -€3,491 | -22.7% |
| Financial charges | 65/66B | €7,291 | €7,071 | -€221 | -3.0% |
| Recurring financial charges | 65 | €7,291 | €7,071 | -€221 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €402,091 | €332,594 | -€69,497 | -17.3% |
| Income taxes | 67/77 | €121,355 | €98,707 | -€22,648 | -18.7% |
| Profit (loss) for the period | 9904 | €280,736 | €233,888 | -€46,849 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €280,736 | €233,888 | -€46,849 | -16.7% |
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 22 October 2026 via checked.be.