KOCAS: 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.
KOCAS
Largest movements
- Cash +€32,901
up €32,901 (+1,013%), from €3,247 to €36,148
mainly Trade debts (+€67,430) and Net result for the year (+€62,774)
- Receivables within one year +€27,575
up €27,575 (+25.8%), from €106,893 to €134,468
of which Trade receivables: +€53,360
- Stocks and contracts +€4,947
up €4,947 (+10.3%), from €47,922 to €52,869
- Tangible fixed assets -€4,136
down €4,136 (-5.4%), from €76,949 to €72,813
of which Plant, machinery and equipment: -€16,570
- Trade debts +€67,430
up €67,430 (+114%), from €59,044 to €126,474
- Current portion of long-term debt -€18,589
no longer reported in 2025 (was €18,589)
- Profit (loss) carried forward +€14,774
up €14,774 (+15.3%), from €96,784 to €111,558
- Tax, wage and social debts -€5,821
down €5,821 (-13.5%), from €43,267 to €37,446
of which Remuneration and social security: -€8,061
- Gross operating margin +€91,370
up €91,370 (+35.4%), from €258,198 to €349,568
- Staff costs +€52,113
up €52,113 (+28.9%), from €180,199 to €232,313
- Depreciation -€14,563
down €14,563 (-34.9%), from €41,674 to €27,111
- Taxes +€11,848
up €11,848 (+134%), from €8,818 to €20,666
- Financial charges -€3,637
down €3,637 (-56.3%), from €6,462 to €2,826
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 | €238,144 | €296,384 | +€58,241 | +24.5% |
| Fixed assets | 21/28 | €77,861 | €72,813 | -€5,047 | -6.5% |
| Intangible fixed assets | 21 | €911 | - | -€911 | |
| Tangible fixed assets | 22/27 | €76,949 | €72,813 | -€4,136 | -5.4% |
| Plant, machinery and equipment | 23 | €69,376 | €52,806 | -€16,570 | -23.9% |
| Furniture and vehicles | 24 | €4,202 | €17,355 | +€13,152 | +313% |
| Other tangible fixed assets | 26 | €3,371 | €2,653 | -€718 | -21.3% |
| Current assets | 29/58 | €160,283 | €223,571 | +€63,288 | +39.5% |
| Stocks and contracts in progress | 3 | €47,922 | €52,869 | +€4,947 | +10.3% |
| Stocks | 30/36 | €47,922 | €52,869 | +€4,947 | +10.3% |
| Amounts receivable within one year | 40/41 | €106,893 | €134,468 | +€27,575 | +25.8% |
| Trade receivables | 40 | €81,108 | €134,468 | +€53,360 | +65.8% |
| Other amounts receivable | 41 | €25,784 | - | -€25,784 | |
| Cash at bank and in hand | 54/58 | €3,247 | €36,148 | +€32,901 | +1,013% |
| Deferred charges and accrued income | 490/1 | €2,221 | €85 | -€2,136 | -96.2% |
| Total equity and liabilities | 10/49 | €238,144 | €296,384 | +€58,241 | +24.5% |
| Equity | 10/15 | €117,244 | €132,018 | +€14,774 | +12.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,784 | €111,558 | +€14,774 | +15.3% |
| Amounts payable | 17/49 | €120,899 | €164,366 | +€43,466 | +36.0% |
| Amounts payable within one year | 42/48 | €120,899 | €164,366 | +€43,466 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €18,589 | - | -€18,589 | |
| Trade debts | 44 | €59,044 | €126,474 | +€67,430 | +114% |
| Suppliers | 440/4 | €59,044 | €126,474 | +€67,430 | +114% |
| Taxes, remuneration and social security | 45 | €43,267 | €37,446 | -€5,821 | -13.5% |
| Taxes | 450/3 | €18,878 | €21,118 | +€2,240 | +11.9% |
| Remuneration and social security | 454/9 | €24,389 | €16,328 | -€8,061 | -33.1% |
| Other amounts payable | 47/48 | - | €447 | +€447 | |
| Remuneration, social security and pensions | 62 | €180,199 | €232,313 | +€52,113 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,674 | €27,111 | -€14,563 | -34.9% |
| Other operating charges | 640/8 | €3,873 | €3,878 | +€5 | +0.1% |
| Gross operating margin | 9900 | €258,198 | €349,568 | +€91,370 | +35.4% |
| Operating profit (loss) | 9901 | €32,452 | €86,266 | +€53,814 | +166% |
| Financial income | 75/76B | €704 | - | -€704 | |
| Recurring financial income | 75 | €704 | - | -€704 | |
| Financial charges | 65/66B | €6,462 | €2,826 | -€3,637 | -56.3% |
| Recurring financial charges | 65 | €6,462 | €2,826 | -€3,637 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €26,693 | €83,440 | +€56,747 | +213% |
| Income taxes | 67/77 | €8,818 | €20,666 | +€11,848 | +134% |
| Profit (loss) for the period | 9904 | €17,875 | €62,774 | +€44,899 | +251% |
| Profit (loss) for the period to be appropriated | 9905 | €17,875 | €62,774 | +€44,899 | +251% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.