FRANK COENJAERTS: what changed
FRANK COENJAERTS
Largest movements
- Cash -€20,374
down €20,374 (-32.9%), from €61,916 to €41,542
mainly Other debts (-€23,245) and Tax, wage and social debts (-€6,103)
- Tangible fixed assets -€13,860
down €13,860 (-12.3%), from €112,397 to €98,537
of which Land and buildings: -€13,151
- Other debts -€23,245
down €23,245 (-15.9%), from €146,213 to €122,968
- Tax, wage and social debts -€6,103
down €6,103 (-69.8%), from €8,748 to €2,645
- Reserves -€3,050
down €3,050 (-2.9%), from €104,194 to €101,144
of which Tax-exempt reserves: -€3,050
- Financial income +€12,836
up €12,836 (+95.4%), from €13,456 to €26,292
of which Non-recurring financial income: +€16,000
- Taxes +€2,623
up €2,623 (+441%), from €595 to €3,217
- Gross operating margin -€2,507
down €2,507 (-151%), from -€1,664 to -€4,171
- Financial charges -€1,245
down €1,245 (-14.7%), from €8,492 to €7,246
- Depreciation +€761
up €761 (+5.8%), from €13,099 to €13,860
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 | €279,055 | €244,821 | -€34,234 | -12.3% |
| Fixed assets | 21/28 | €217,138 | €203,279 | -€13,860 | -6.4% |
| Tangible fixed assets | 22/27 | €112,397 | €98,537 | -€13,860 | -12.3% |
| Land and buildings | 22 | €110,260 | €97,109 | -€13,151 | -11.9% |
| Plant, machinery and equipment | 23 | €2,137 | €1,428 | -€709 | -33.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €104,742 | €104,742 | = | 0.0% |
| Current assets | 29/58 | €61,916 | €41,542 | -€20,374 | -32.9% |
| Cash at bank and in hand | 54/58 | €61,916 | €41,542 | -€20,374 | -32.9% |
| Total equity and liabilities | 10/49 | €279,055 | €244,821 | -€34,234 | -12.3% |
| Equity | 10/15 | €121,548 | €119,197 | -€2,351 | -1.9% |
| Contributions | 10/11 | €92,479 | €92,479 | = | 0.0% |
| Reserves | 13 | €104,194 | €101,144 | -€3,050 | -2.9% |
| Non-distributable reserves | 130/1 | €8,191 | €8,191 | = | 0.0% |
| Other | 1319 | €8,191 | €8,191 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,550 | €7,500 | -€3,050 | -28.9% |
| Distributable reserves | 133 | €85,453 | €85,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,124 | -€74,425 | +€699 | +0.9% |
| Provisions and deferred taxes | 16 | €1,571 | - | -€1,571 | |
| Deferred taxes | 168 | €1,571 | - | -€1,571 | |
| Amounts payable | 17/49 | €155,936 | €125,623 | -€30,312 | -19.4% |
| Amounts payable within one year | 42/48 | €155,936 | €125,623 | -€30,312 | -19.4% |
| Trade debts | 44 | €975 | €11 | -€964 | -98.9% |
| Suppliers | 440/4 | €975 | €11 | -€964 | -98.9% |
| Taxes, remuneration and social security | 45 | €8,748 | €2,645 | -€6,103 | -69.8% |
| Taxes | 450/3 | €8,748 | €2,645 | -€6,103 | -69.8% |
| Other amounts payable | 47/48 | €146,213 | €122,968 | -€23,245 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,099 | €13,860 | +€761 | +5.8% |
| Other operating charges | 640/8 | €2,052 | €1,719 | -€334 | -16.3% |
| Gross operating margin | 9900 | -€1,664 | -€4,171 | -€2,507 | -151% |
| Operating profit (loss) | 9901 | -€16,815 | -€19,750 | -€2,935 | -17.5% |
| Financial income | 75/76B | €13,456 | €26,292 | +€12,836 | +95.4% |
| Recurring financial income | 75 | €13,456 | €10,292 | -€3,164 | -23.5% |
| Non-recurring financial income | 76B | - | €16,000 | +€16,000 | |
| Financial charges | 65/66B | €8,492 | €7,246 | -€1,245 | -14.7% |
| Recurring financial charges | 65 | €8,492 | €7,246 | -€1,245 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,851 | -€705 | +€11,146 | +94.1% |
| Transfer from deferred taxes | 780 | €1,571 | €4,621 | +€3,050 | +194% |
| Income taxes | 67/77 | €595 | €3,217 | +€2,623 | +441% |
| Profit (loss) for the period | 9904 | -€10,875 | €699 | +€11,574 | |
| Transfer from tax-exempt reserves | 789 | €3,050 | - | -€3,050 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,824 | €699 | +€8,523 |
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 7 November 2026 via checked.be.