Karel Cox Leasing: 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.
Karel Cox Leasing
Largest movements
- Tangible fixed assets +€757,864
up €757,864 (+1,175%), from €64,511 to €822,374
of which Other tangible fixed assets: +€769,864
- Stocks and contracts -€627,500
down €627,500 (-100%), from €627,500 to €0
- Receivables within one year +€155,589
up €155,589 (+63.2%), from €246,317 to €401,906
of which Trade receivables: +€188,929
- Cash +€42,986
up €42,986 (+95.5%), from €44,990 to €87,976
mainly Other debts (+€767,912) and Stocks and contracts (+€627,500)
- Other debts +€767,912
up €767,912 (+856%), from €89,672 to €857,584
- Trade debts -€553,146
down €553,146 (-83.7%), from €660,796 to €107,650
- Profit (loss) carried forward +€70,215
up €70,215 (+54.2%), from €129,450 to €199,665
- Short-term financial debts +€28,565
up €28,565 (+2,925%), from €977 to €29,542
of which Credit institutions: +€29,542
- Accrued charges and deferred income +€16,500
new in 2025: €16,500
- Depreciation +€160,737
up €160,737 (+4,122%), from €3,899 to €164,636
- Gross operating margin +€147,051
up €147,051 (+78.3%), from €187,804 to €334,854
- Staff costs +€77,111
new in 2025: €77,111
- Taxes -€30,816
down €30,816 (-63.2%), from €48,724 to €17,908
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 | €990,773 | €1,319,860 | +€329,087 | +33.2% |
| Fixed assets | 21/28 | €64,511 | €822,374 | +€757,864 | +1,175% |
| Tangible fixed assets | 22/27 | €64,511 | €822,374 | +€757,864 | +1,175% |
| Furniture and vehicles | 24 | €57,173 | €45,173 | -€12,000 | -21.0% |
| Other tangible fixed assets | 26 | €7,338 | €777,202 | +€769,864 | +10,491% |
| Current assets | 29/58 | €926,262 | €497,485 | -€428,777 | -46.3% |
| Stocks and contracts in progress | 3 | €627,500 | €0 | -€627,500 | -100% |
| Stocks | 30/36 | €627,500 | €0 | -€627,500 | -100% |
| Amounts receivable within one year | 40/41 | €246,317 | €401,906 | +€155,589 | +63.2% |
| Trade receivables | 40 | €190,736 | €379,665 | +€188,929 | +99.1% |
| Other amounts receivable | 41 | €55,581 | €22,241 | -€33,340 | -60.0% |
| Cash at bank and in hand | 54/58 | €44,990 | €87,976 | +€42,986 | +95.5% |
| Deferred charges and accrued income | 490/1 | €7,455 | €7,603 | +€149 | +2.0% |
| Total equity and liabilities | 10/49 | €990,773 | €1,319,860 | +€329,087 | +33.2% |
| Equity | 10/15 | €132,450 | €202,665 | +€70,215 | +53.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,450 | €199,665 | +€70,215 | +54.2% |
| Amounts payable | 17/49 | €858,323 | €1,117,195 | +€258,872 | +30.2% |
| Amounts payable after more than one year | 17 | €46,870 | €35,207 | -€11,663 | -24.9% |
| Financial debts | 170/4 | €46,870 | €35,207 | -€11,663 | -24.9% |
| Amounts payable within one year | 42/48 | €811,453 | €1,065,488 | +€254,035 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €11,285 | €11,663 | +€378 | +3.3% |
| Financial debts | 43 | €977 | €29,542 | +€28,565 | +2,925% |
| Credit institutions | 430/8 | - | €29,542 | +€29,542 | |
| Other loans | 439 | €977 | €0 | -€977 | -100% |
| Trade debts | 44 | €660,796 | €107,650 | -€553,146 | -83.7% |
| Suppliers | 440/4 | €660,796 | €107,650 | -€553,146 | -83.7% |
| Advances received on contracts in progress | 46 | - | €1,480 | +€1,480 | |
| Taxes, remuneration and social security | 45 | €48,724 | €57,569 | +€8,846 | +18.2% |
| Taxes | 450/3 | €48,724 | €49,549 | +€826 | +1.7% |
| Remuneration and social security | 454/9 | - | €8,020 | +€8,020 | |
| Other amounts payable | 47/48 | €89,672 | €857,584 | +€767,912 | +856% |
| Accrued charges and deferred income | 492/3 | - | €16,500 | +€16,500 | |
| Remuneration, social security and pensions | 62 | - | €77,111 | +€77,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,899 | €164,636 | +€160,737 | +4,122% |
| Other operating charges | 640/8 | €1,633 | €1,693 | +€60 | +3.7% |
| Gross operating margin | 9900 | €187,804 | €334,854 | +€147,051 | +78.3% |
| Operating profit (loss) | 9901 | €182,271 | €91,414 | -€90,857 | -49.8% |
| Financial income | 75/76B | - | €65 | +€65 | |
| Recurring financial income | 75 | - | €65 | +€65 | |
| Financial charges | 65/66B | €4,097 | €3,356 | -€741 | -18.1% |
| Recurring financial charges | 65 | €4,097 | €3,356 | -€741 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €178,174 | €88,122 | -€90,052 | -50.5% |
| Income taxes | 67/77 | €48,724 | €17,908 | -€30,816 | -63.2% |
| Profit (loss) for the period | 9904 | €129,450 | €70,215 | -€59,236 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €129,450 | €70,215 | -€59,236 | -45.8% |
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 26 October 2026 via checked.be.