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Koc Erdon: 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.

What changed

Koc Erdon

BE 0524.891.051
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,978
2024 · €20,938-€7,960
Equity
€292,024
2024 · €348,580-€56,556
Cash
€28,319
2024 · €134,140-€105,821
Balance sheet total
€1.1m
2024 · €1.2m-€160,467

Largest movements

2024 to 2025
Assets
  • Cash -€105,821

    down €105,821 (-78.9%), from €134,140 to €28,319

    mainly Debts after one year (-€86,711) and Contributions, distributions and other (-€69,534)

  • Tangible fixed assets -€52,590

    down €52,590 (-4.8%), from €1.1m to €1.0m

    of which Land and buildings: -€51,846

Equity and liabilities
  • Debts after one year -€86,711

    down €86,711 (-11.1%), from €783,122 to €696,410

  • Reserves -€56,556

    down €56,556 (-19.1%), from €295,489 to €238,933

    of which Distributable reserves: -€56,556

  • Other debts -€15,940

    no longer reported in 2025 (was €15,940)

Income statement
  • Gross operating margin -€12,428

    down €12,428 (-12.6%), from €98,926 to €86,498

  • Taxes -€3,715

    down €3,715 (-38.0%), from €9,771 to €6,056

  • Financial charges -€1,046

    down €1,046 (-10.0%), from €10,458 to €9,412

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €20,938
Gross operating margin -€12,428
Depreciation -€128
Other operating charges -€165
Financial charges +€1,046
Taxes +€3,715
Result 2025 €12,978
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€49,470
Investment €0
Financing -€155,291
Cash 2024 €134,140
Net result for the year +€12,978
Depreciation +€52,590
Receivables within one year -€3,944
Deferred charges and accrued income +€6,000
Trade debts +€21
Tax, wage and social debts -€2,235
Other debts -€15,940
Debts after one year -€86,711
Current portion of long-term debt +€955
Contributions, distributions and other -€69,534
Cash 2025 €28,319
brings cash intakes cash out
Every line side by side 39 lines
Line Code 2024 2025 Change %
Total assets 20/58 €1,241,867 €1,081,400 -€160,467 -12.9%
Fixed assets 21/28 €1,101,727 €1,049,138 -€52,590 -4.8%
Tangible fixed assets 22/27 €1,101,727 €1,049,138 -€52,590 -4.8%
Land and buildings 22 €1,098,869 €1,047,022 -€51,846 -4.7%
Plant, machinery and equipment 23 €2,859 €2,115 -€743 -26.0%
Current assets 29/58 €140,140 €32,262 -€107,877 -77.0%
Amounts receivable within one year 40/41 - €3,944 +€3,944
Other amounts receivable 41 - €3,944 +€3,944
Cash at bank and in hand 54/58 €134,140 €28,319 -€105,821 -78.9%
Deferred charges and accrued income 490/1 €6,000 - -€6,000
Total equity and liabilities 10/49 €1,241,867 €1,081,400 -€160,467 -12.9%
Equity 10/15 €348,580 €292,024 -€56,556 -16.2%
Contributions 10/11 €12,400 €12,400 = 0.0%
Reserves 13 €295,489 €238,933 -€56,556 -19.1%
Non-distributable reserves 130/1 €1,855 €1,855 = 0.0%
Reserves not available under the articles 1311 €1,855 €1,855 = 0.0%
Distributable reserves 133 €293,634 €237,078 -€56,556 -19.3%
Profit (loss) carried forward 14 €40,691 €40,691 = 0.0%
Amounts payable 17/49 €893,287 €789,376 -€103,910 -11.6%
Amounts payable after more than one year 17 €783,122 €696,410 -€86,711 -11.1%
Financial debts 170/4 €783,122 €696,410 -€86,711 -11.1%
Amounts payable within one year 42/48 €110,165 €92,966 -€17,199 -15.6%
Current portion of amounts payable after more than one year 42 €89,321 €90,275 +€955 +1.1%
Trade debts 44 €170 €191 +€21 +12.5%
Suppliers 440/4 €170 €191 +€21 +12.5%
Advances received on contracts in progress 46 €2,500 €2,500 = 0.0%
Taxes, remuneration and social security 45 €2,235 - -€2,235
Taxes 450/3 €2,235 - -€2,235
Other amounts payable 47/48 €15,940 - -€15,940
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €52,461 €52,590 +€128 +0.2%
Other operating charges 640/8 €5,297 €5,463 +€165 +3.1%
Gross operating margin 9900 €98,926 €86,498 -€12,428 -12.6%
Operating profit (loss) 9901 €41,168 €28,446 -€12,722 -30.9%
Financial charges 65/66B €10,458 €9,412 -€1,046 -10.0%
Recurring financial charges 65 €10,458 €9,412 -€1,046 -10.0%
Profit (loss) for the period before taxes 9903 €30,709 €19,034 -€11,675 -38.0%
Income taxes 67/77 €9,771 €6,056 -€3,715 -38.0%
Profit (loss) for the period 9904 €20,938 €12,978 -€7,960 -38.0%
Profit (loss) for the period to be appropriated 9905 €20,938 €12,978 -€7,960 -38.0%

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 21 October 2026 via checked.be.