GOLDEN COQ: what changed
GOLDEN COQ
Largest movements
- Receivables within one year -€12,720
down €12,720 (-85.5%), from €14,875 to €2,155
of which Trade receivables: -€14,875
- Cash -€10,113
down €10,113 (-46.3%), from €21,861 to €11,748
mainly Net result for the year (-€15,336) and Trade debts (-€10,738)
- Tangible fixed assets -€5,958
down €5,958 (-44.7%), from €13,322 to €7,364
of which Furniture and vehicles: -€5,798
- Profit (loss) carried forward -€15,336
down €15,336, from €15,219 to -€117
- Trade debts -€10,738
down €10,738 (-40.5%), from €26,504 to €15,766
- Other debts -€1,321
no longer reported in 2025 (was €1,321)
- Tax, wage and social debts -€1,309
down €1,309 (-62.9%), from €2,081 to €771
of which Remuneration and social security: -€819
- Gross operating margin -€36,716
down €36,716, from €26,966 to -€9,750
- Staff costs -€12,549
down €12,549, from €11,771 to -€778
- Taxes -€2,295
down €2,295 (-93.4%), from €2,457 to €162
- Depreciation +€1,405
up €1,405 (+30.9%), from €4,553 to €5,958
- Other operating charges -€910
down €910 (-86.3%), from €1,054 to €144
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 | €50,124 | €21,420 | -€28,704 | -57.3% |
| Fixed assets | 21/28 | €13,322 | €7,364 | -€5,958 | -44.7% |
| Tangible fixed assets | 22/27 | €13,322 | €7,364 | -€5,958 | -44.7% |
| Plant, machinery and equipment | 23 | €440 | €281 | -€159 | -36.2% |
| Furniture and vehicles | 24 | €12,882 | €7,083 | -€5,798 | -45.0% |
| Current assets | 29/58 | €36,802 | €14,056 | -€22,746 | -61.8% |
| Amounts receivable within one year | 40/41 | €14,875 | €2,155 | -€12,720 | -85.5% |
| Trade receivables | 40 | €14,875 | €0 | -€14,875 | -100% |
| Other amounts receivable | 41 | - | €2,155 | +€2,155 | |
| Cash at bank and in hand | 54/58 | €21,861 | €11,748 | -€10,113 | -46.3% |
| Deferred charges and accrued income | 490/1 | €66 | €152 | +€86 | +132% |
| Total equity and liabilities | 10/49 | €50,124 | €21,420 | -€28,704 | -57.3% |
| Equity | 10/15 | €20,219 | €4,883 | -€15,336 | -75.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,219 | -€117 | -€15,336 | |
| Amounts payable | 17/49 | €29,905 | €16,537 | -€13,368 | -44.7% |
| Amounts payable within one year | 42/48 | €29,905 | €16,537 | -€13,368 | -44.7% |
| Trade debts | 44 | €26,504 | €15,766 | -€10,738 | -40.5% |
| Suppliers | 440/4 | €26,504 | €15,766 | -€10,738 | -40.5% |
| Taxes, remuneration and social security | 45 | €2,081 | €771 | -€1,309 | -62.9% |
| Taxes | 450/3 | €1,262 | €771 | -€491 | -38.9% |
| Remuneration and social security | 454/9 | €819 | - | -€819 | |
| Other amounts payable | 47/48 | €1,321 | - | -€1,321 | |
| Remuneration, social security and pensions | 62 | €11,771 | -€778 | -€12,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,553 | €5,958 | +€1,405 | +30.9% |
| Other operating charges | 640/8 | €1,054 | €144 | -€910 | -86.3% |
| Gross operating margin | 9900 | €26,966 | -€9,750 | -€36,716 | |
| Operating profit (loss) | 9901 | €9,589 | -€15,074 | -€24,663 | |
| Financial income | 75/76B | - | €58 | +€58 | |
| Recurring financial income | 75 | - | €58 | +€58 | |
| Financial charges | 65/66B | €135 | €158 | +€23 | +16.8% |
| Recurring financial charges | 65 | €135 | €158 | +€23 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €9,453 | -€15,174 | -€24,627 | |
| Income taxes | 67/77 | €2,457 | €162 | -€2,295 | -93.4% |
| Profit (loss) for the period | 9904 | €6,997 | -€15,336 | -€22,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,997 | -€15,336 | -€22,333 |
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 8 November 2026 via checked.be.