KOEDOES: what changed
Two fiscal 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.
KOEDOES
Largest movements
- Receivables within one year -€2,079
down €2,079 (-87.1%), from €2,386 to €307
- Cash -€1,797
down €1,797 (-28.9%), from €6,220 to €4,423
mainly Net result for the year (-€5,454) and Trade debts (-€380)
- Formation expenses -€573
down €573 (-57.5%), from €996 to €423
- Intangible fixed assets -€300
down €300 (-58.0%), from €517 to €217
- Profit (loss) carried forward -€5,454
down €5,454 (-39.0%), from -€13,989 to -€19,443
- Accrued charges and deferred income +€658
new in 2025: €658
- Trade debts -€380
down €380 (-60.0%), from €634 to €254
- Other debts +€247
up €247 (+7.0%), from €3,528 to €3,775
- Tax, wage and social debts +€231
up €231 (+123.9%), from €186 to €417
- Gross operating margin -€1,944
down €1,944 (-106.2%), from -€1,830 to -€3,774
- Financial charges +€267
up €267 (+398.2%), from €67 to €335
- Other operating charges -€93
down €93 (-16.4%), from €566 to €473
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.
Cash bridge derived
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 | €10,359 | €5,661 | -€4,698 | -45.4% |
| Formation expenses | 20 | €996 | €423 | -€573 | -57.5% |
| Fixed assets | 21/28 | €517 | €217 | -€300 | -58.0% |
| Intangible fixed assets | 21 | €517 | €217 | -€300 | -58.0% |
| Current assets | 29/58 | €8,846 | €5,020 | -€3,826 | -43.2% |
| Amounts receivable within one year | 40/41 | €2,386 | €307 | -€2,079 | -87.1% |
| Trade receivables | 40 | €2,386 | €307 | -€2,079 | -87.1% |
| Cash at bank and in hand | 54/58 | €6,220 | €4,423 | -€1,797 | -28.9% |
| Deferred charges and accrued income | 490/1 | €240 | €290 | +€50 | +21.0% |
| Total equity and liabilities | 10/49 | €10,359 | €5,661 | -€4,698 | -45.4% |
| Equity | 10/15 | €6,011 | €557 | -€5,454 | -90.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,989 | -€19,443 | -€5,454 | -39.0% |
| Amounts payable | 17/49 | €4,348 | €5,104 | +€755 | +17.4% |
| Amounts payable within one year | 42/48 | €4,348 | €4,445 | +€97 | +2.2% |
| Trade debts | 44 | €634 | €254 | -€380 | -60.0% |
| Suppliers | 440/4 | €634 | €254 | -€380 | -60.0% |
| Taxes, remuneration and social security | 45 | €186 | €417 | +€231 | +123.9% |
| Taxes | 450/3 | €186 | €417 | +€231 | +123.9% |
| Other amounts payable | 47/48 | €3,528 | €3,775 | +€247 | +7.0% |
| Accrued charges and deferred income | 492/3 | - | €658 | +€658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €872 | €872 | = | 0.0% |
| Other operating charges | 640/8 | €566 | €473 | -€93 | -16.4% |
| Gross operating margin | 9900 | -€1,830 | -€3,774 | -€1,944 | -106.2% |
| Operating profit (loss) | 9901 | -€3,269 | -€5,119 | -€1,851 | -56.6% |
| Financial income | 75/76B | €2 | €0 | -€1 | -75.6% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -75.6% |
| Financial charges | 65/66B | €67 | €335 | +€267 | +398.2% |
| Recurring financial charges | 65 | €67 | €335 | +€267 | +398.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,334 | -€5,454 | -€2,120 | -63.6% |
| Profit (loss) for the period | 9904 | -€3,334 | -€5,454 | -€2,120 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,334 | -€5,454 | -€2,120 | -63.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.