KOEK’S: 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.
KOEK’S
Largest movements
- Receivables within one year +€10,685
up €10,685 (+57.5%), from €18,574 to €29,259
of which Other amounts receivable: +€20,685
- Tangible fixed assets -€9,329
down €9,329 (-15.4%), from €60,648 to €51,319
of which Other tangible fixed assets: -€5,550
- Cash -€5,579
down €5,579 (-10.9%), from €51,283 to €45,703
mainly Trade debts (-€11,071) and Receivables within one year (-€10,685)
- Deferred charges and accrued income +€3,571
new in 2025: €3,571
- Trade debts -€11,071
down €11,071 (-46.3%), from €23,927 to €12,856
- Tax, wage and social debts +€5,993
up €5,993 (+28.9%), from €20,759 to €26,752
- Profit (loss) carried forward +€4,974
up €4,974 (+6.1%), from €82,110 to €87,084
- Gross operating margin -€16,779
down €16,779 (-28.4%), from €58,978 to €42,199
- Other operating charges +€3,369
up €3,369 (+50.1%), from €6,730 to €10,099
- Financial charges +€2,984
up €2,984 (+154.7%), from €1,929 to €4,913
- Taxes +€2,097
up €2,097 (+22.7%), from €9,248 to €11,345
- Depreciation +€1,034
up €1,034 (+10.5%), from €9,834 to €10,868
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 | €131,796 | €131,693 | -€103 | -0.1% |
| Fixed assets | 21/28 | €61,011 | €51,682 | -€9,329 | -15.3% |
| Tangible fixed assets | 22/27 | €60,648 | €51,319 | -€9,329 | -15.4% |
| Furniture and vehicles | 24 | €11,271 | €8,892 | -€2,379 | -21.1% |
| Leasing and similar rights | 25 | €6,013 | €4,613 | -€1,400 | -23.3% |
| Other tangible fixed assets | 26 | €43,364 | €37,814 | -€5,550 | -12.8% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €70,785 | €80,011 | +€9,226 | +13.0% |
| Stocks and contracts in progress | 3 | €928 | €1,478 | +€550 | +59.2% |
| Stocks | 30/36 | €928 | €1,478 | +€550 | +59.2% |
| Amounts receivable within one year | 40/41 | €18,574 | €29,259 | +€10,685 | +57.5% |
| Trade receivables | 40 | €10,000 | - | -€10,000 | |
| Other amounts receivable | 41 | €8,574 | €29,259 | +€20,685 | +241.2% |
| Cash at bank and in hand | 54/58 | €51,283 | €45,703 | -€5,579 | -10.9% |
| Deferred charges and accrued income | 490/1 | - | €3,571 | +€3,571 | |
| Total equity and liabilities | 10/49 | €131,796 | €131,693 | -€103 | -0.1% |
| Equity | 10/15 | €87,110 | €92,084 | +€4,974 | +5.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,110 | €87,084 | +€4,974 | +6.1% |
| Amounts payable | 17/49 | €44,686 | €39,608 | -€5,077 | -11.4% |
| Amounts payable within one year | 42/48 | €44,686 | €39,608 | -€5,077 | -11.4% |
| Trade debts | 44 | €23,927 | €12,856 | -€11,071 | -46.3% |
| Suppliers | 440/4 | €23,927 | €12,856 | -€11,071 | -46.3% |
| Taxes, remuneration and social security | 45 | €20,759 | €26,752 | +€5,993 | +28.9% |
| Taxes | 450/3 | €20,759 | €26,752 | +€5,993 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,834 | €10,868 | +€1,034 | +10.5% |
| Other operating charges | 640/8 | €6,730 | €10,099 | +€3,369 | +50.1% |
| Gross operating margin | 9900 | €58,978 | €42,199 | -€16,779 | -28.4% |
| Operating profit (loss) | 9901 | €42,414 | €21,232 | -€21,182 | -49.9% |
| Financial charges | 65/66B | €1,929 | €4,913 | +€2,984 | +154.7% |
| Recurring financial charges | 65 | €1,929 | €4,913 | +€2,984 | +154.7% |
| Profit (loss) for the period before taxes | 9903 | €40,485 | €16,320 | -€24,166 | -59.7% |
| Income taxes | 67/77 | €9,248 | €11,345 | +€2,097 | +22.7% |
| Profit (loss) for the period | 9904 | €31,237 | €4,974 | -€26,263 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,237 | €4,974 | -€26,263 | -84.1% |
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 6 October 2026 via checked.be.