Jorgos Coenen: 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.
Jorgos Coenen
Largest movements
- Cash +€3,132
up €3,132 (+165%), from €1,899 to €5,030
mainly Net result for the year (+€5,443) and Other debts (+€1,353)
- Tangible fixed assets +€1,120
new in 2025: €1,120
- Receivables within one year +€465
up €465 (+6.4%), from €7,260 to €7,725
of which Other amounts receivable: +€465
- Deferred charges and accrued income +€359
new in 2025: €359
- Profit (loss) carried forward +€5,443
up €5,443 (+2,102%), from €259 to €5,702
- Other debts +€1,353
up €1,353 (+269%), from €502 to €1,855
- Accrued charges and deferred income -€1,230
down €1,230 (-100%), from €1,230 to €0
- Tax, wage and social debts -€695
down €695 (-13.4%), from €5,168 to €4,473
- Trade debts +€205
new in 2025: €205
- Gross operating margin +€8,472
up €8,472 (+1,534%), from €552 to €9,025
- Taxes +€2,341
up €2,341 (+1,210%), from €194 to €2,535
- Other operating charges +€479
up €479 (+639%), from €75 to €554
- Depreciation +€410
new in 2025: €410
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 | €9,159 | €14,236 | +€5,077 | +55.4% |
| Fixed assets | 21/28 | - | €1,120 | +€1,120 | |
| Tangible fixed assets | 22/27 | - | €1,120 | +€1,120 | |
| Plant, machinery and equipment | 23 | - | €1,120 | +€1,120 | |
| Current assets | 29/58 | €9,159 | €13,115 | +€3,957 | +43.2% |
| Amounts receivable within one year | 40/41 | €7,260 | €7,725 | +€465 | +6.4% |
| Trade receivables | 40 | €7,260 | €7,260 | = | 0.0% |
| Other amounts receivable | 41 | - | €465 | +€465 | |
| Cash at bank and in hand | 54/58 | €1,899 | €5,030 | +€3,132 | +165% |
| Deferred charges and accrued income | 490/1 | - | €359 | +€359 | |
| Total equity and liabilities | 10/49 | €9,159 | €14,236 | +€5,077 | +55.4% |
| Equity | 10/15 | €2,259 | €7,702 | +€5,443 | +241% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €259 | €5,702 | +€5,443 | +2,102% |
| Amounts payable | 17/49 | €6,900 | €6,533 | -€366 | -5.3% |
| Amounts payable within one year | 42/48 | €5,670 | €6,533 | +€863 | +15.2% |
| Trade debts | 44 | - | €205 | +€205 | |
| Suppliers | 440/4 | - | €205 | +€205 | |
| Taxes, remuneration and social security | 45 | €5,168 | €4,473 | -€695 | -13.4% |
| Taxes | 450/3 | €5,168 | €4,473 | -€695 | -13.4% |
| Other amounts payable | 47/48 | €502 | €1,855 | +€1,353 | +269% |
| Accrued charges and deferred income | 492/3 | €1,230 | €0 | -€1,230 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €410 | +€410 | |
| Other operating charges | 640/8 | €75 | €554 | +€479 | +639% |
| Gross operating margin | 9900 | €552 | €9,025 | +€8,472 | +1,534% |
| Operating profit (loss) | 9901 | €477 | €8,061 | +€7,584 | +1,588% |
| Financial charges | 65/66B | €25 | €83 | +€58 | +232% |
| Recurring financial charges | 65 | €25 | €83 | +€58 | +232% |
| Profit (loss) for the period before taxes | 9903 | €452 | €7,978 | +€7,526 | +1,663% |
| Income taxes | 67/77 | €194 | €2,535 | +€2,341 | +1,210% |
| Profit (loss) for the period | 9904 | €259 | €5,443 | +€5,184 | +2,002% |
| Profit (loss) for the period to be appropriated | 9905 | €259 | €5,443 | +€5,184 | +2,002% |
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 14 October 2026 via checked.be.