KOEDALHOF: 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.
KOEDALHOF
Largest movements
- Receivables within one year +€61,839
up €61,839 (+56.5%), from €109,532 to €171,371
of which Trade receivables: +€61,839
- Tangible fixed assets -€19,817
down €19,817 (-13.9%), from €142,443 to €122,626
of which Land and buildings: -€18,064
- Cash -€3,364
down €3,364 (-80.7%), from €4,167 to €803
mainly Receivables within one year (-€61,839) and Trade debts (-€21,780)
- Advances received +€45,430
new in 2025: €45,430
- Trade debts -€21,780
down €21,780 (-82.1%), from €26,525 to €4,745
- Profit (loss) carried forward +€13,004
up €13,004 (+28.9%), from -€45,060 to -€32,056
- Debts after one year -€9,912
down €9,912 (-4.3%), from €228,119 to €218,207
- Other debts +€9,628
up €9,628 (+107%), from €8,980 to €18,608
- Other operating charges -€15,718
down €15,718 (-97.5%), from €16,127 to €410
- Gross operating margin -€10,133
down €10,133 (-22.0%), from €46,088 to €35,955
- Depreciation +€919
up €919 (+4.6%), from €19,774 to €20,693
- Financial charges +€595
up €595 (+47.4%), from €1,255 to €1,849
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 | €272,864 | €309,747 | +€36,883 | +13.5% |
| Fixed assets | 21/28 | €147,265 | €126,573 | -€20,693 | -14.1% |
| Intangible fixed assets | 21 | €4,822 | €3,947 | -€875 | -18.1% |
| Tangible fixed assets | 22/27 | €142,443 | €122,626 | -€19,817 | -13.9% |
| Land and buildings | 22 | €132,188 | €114,124 | -€18,064 | -13.7% |
| Plant, machinery and equipment | 23 | €10,255 | €8,502 | -€1,753 | -17.1% |
| Current assets | 29/58 | €125,598 | €183,174 | +€57,576 | +45.8% |
| Stocks and contracts in progress | 3 | €10,650 | €11,000 | +€350 | +3.3% |
| Stocks | 30/36 | €10,650 | €11,000 | +€350 | +3.3% |
| Amounts receivable within one year | 40/41 | €109,532 | €171,371 | +€61,839 | +56.5% |
| Trade receivables | 40 | €109,532 | €171,371 | +€61,839 | +56.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,167 | €803 | -€3,364 | -80.7% |
| Deferred charges and accrued income | 490/1 | €1,249 | €0 | -€1,249 | -100% |
| Total equity and liabilities | 10/49 | €272,864 | €309,747 | +€36,883 | +13.5% |
| Equity | 10/15 | -€8,300 | €4,704 | +€13,004 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,160 | €18,160 | = | 0.0% |
| Distributable reserves | 133 | €18,160 | €18,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,060 | -€32,056 | +€13,004 | +28.9% |
| Amounts payable | 17/49 | €281,164 | €305,043 | +€23,879 | +8.5% |
| Amounts payable after more than one year | 17 | €228,119 | €218,207 | -€9,912 | -4.3% |
| Financial debts | 170/4 | €228,119 | €218,207 | -€9,912 | -4.3% |
| Amounts payable within one year | 42/48 | €53,045 | €86,835 | +€33,790 | +63.7% |
| Current portion of amounts payable after more than one year | 42 | €9,790 | €9,912 | +€122 | +1.2% |
| Trade debts | 44 | €26,525 | €4,745 | -€21,780 | -82.1% |
| Suppliers | 440/4 | €26,525 | €4,745 | -€21,780 | -82.1% |
| Advances received on contracts in progress | 46 | - | €45,430 | +€45,430 | |
| Taxes, remuneration and social security | 45 | €7,750 | €8,141 | +€391 | +5.0% |
| Taxes | 450/3 | €7,750 | €8,141 | +€391 | +5.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,980 | €18,608 | +€9,628 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,774 | €20,693 | +€919 | +4.6% |
| Other operating charges | 640/8 | €16,127 | €410 | -€15,718 | -97.5% |
| Gross operating margin | 9900 | €46,088 | €35,955 | -€10,133 | -22.0% |
| Operating profit (loss) | 9901 | €10,187 | €14,853 | +€4,666 | +45.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,255 | €1,849 | +€595 | +47.4% |
| Recurring financial charges | 65 | €1,255 | €1,849 | +€595 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €8,933 | €13,004 | +€4,072 | +45.6% |
| Profit (loss) for the period | 9904 | €8,933 | €13,004 | +€4,072 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,933 | €13,004 | +€4,072 | +45.6% |
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.