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.
Koc Erdon
Largest movements
- 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
- 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)
- 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
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 | €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.