Koekoe: 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.
Koekoe
Largest movements
- Tangible fixed assets +€521,910
up €521,910 (+484.5%), from €107,716 to €629,626
of which Land and buildings: +€285,745
- Receivables within one year +€33,304
up €33,304 (+69.9%), from €47,668 to €80,972
of which Trade receivables: +€21,139
- Cash -€30,710
down €30,710 (-14.2%), from €215,832 to €185,122
mainly Investment in fixed assets (net) (-€544,445) and Net result for the year (-€67,551)
- Stocks and contracts -€21,821
down €21,821 (-100.0%), from €21,821 to €0
- Debts after one year +€321,176
up €321,176 (+141.5%), from €227,059 to €548,235
- Other debts +€216,051
up €216,051 (+95.8%), from €225,474 to €441,525
- Profit (loss) carried forward -€67,150
down €67,150, from €0 to -€67,150
- Current portion of long-term debt +€21,556
up €21,556 (+107.2%), from €20,106 to €41,661
- Gross operating margin -€109,297
down €109,297 (-64.1%), from €170,461 to €61,163
- Taxes -€28,139
down €28,139 (-99.1%), from €28,393 to €254
- Financial charges +€7,894
up €7,894, from -€1,108 to €6,786
- Staff costs +€7,637
up €7,637 (+64.0%), from €11,934 to €19,571
- Depreciation -€6,642
down €6,642 (-21.8%), from €30,427 to €23,785
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 | €528,368 | €1,018,333 | +€489,965 | +92.7% |
| Fixed assets | 21/28 | €124,965 | €645,626 | +€520,660 | +416.6% |
| Intangible fixed assets | 21 | €7,199 | €0 | -€7,199 | -100.0% |
| Tangible fixed assets | 22/27 | €107,716 | €629,626 | +€521,910 | +484.5% |
| Land and buildings | 22 | - | €285,745 | +€285,745 | |
| Plant, machinery and equipment | 23 | €59,938 | €315,743 | +€255,805 | +426.8% |
| Furniture and vehicles | 24 | €35,547 | €28,138 | -€7,410 | -20.8% |
| Other tangible fixed assets | 26 | €12,231 | €0 | -€12,231 | -100.0% |
| Financial fixed assets | 28 | €10,050 | €16,000 | +€5,950 | +59.2% |
| Current assets | 29/58 | €403,402 | €372,707 | -€30,695 | -7.6% |
| Amounts receivable after more than one year | 29 | €6,250 | €0 | -€6,250 | -100.0% |
| Other amounts receivable | 291 | €6,250 | €0 | -€6,250 | -100.0% |
| Stocks and contracts in progress | 3 | €21,821 | €0 | -€21,821 | -100.0% |
| Stocks | 30/36 | €21,821 | €0 | -€21,821 | -100.0% |
| Amounts receivable within one year | 40/41 | €47,668 | €80,972 | +€33,304 | +69.9% |
| Trade receivables | 40 | €6,454 | €27,593 | +€21,139 | +327.5% |
| Other amounts receivable | 41 | €41,214 | €53,379 | +€12,166 | +29.5% |
| Current investments | 50/53 | €98,871 | €98,871 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €215,832 | €185,122 | -€30,710 | -14.2% |
| Deferred charges and accrued income | 490/1 | €12,960 | €7,741 | -€5,218 | -40.3% |
| Total equity and liabilities | 10/49 | €528,368 | €1,018,333 | +€489,965 | +92.7% |
| Equity | 10/15 | €35,723 | -€31,828 | -€67,551 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,123 | €16,722 | -€402 | -2.3% |
| Tax-exempt reserves | 132 | €16,722 | €16,722 | = | 0.0% |
| Distributable reserves | 133 | €402 | €0 | -€402 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€67,150 | -€67,150 | |
| Amounts payable | 17/49 | €492,644 | €1,050,161 | +€557,517 | +113.2% |
| Amounts payable after more than one year | 17 | €227,059 | €548,235 | +€321,176 | +141.5% |
| Financial debts | 170/4 | €227,059 | €548,235 | +€321,176 | +141.5% |
| Amounts payable within one year | 42/48 | €265,585 | €496,926 | +€231,341 | +87.1% |
| Current portion of amounts payable after more than one year | 42 | €20,106 | €41,661 | +€21,556 | +107.2% |
| Trade debts | 44 | €5,117 | €2,597 | -€2,520 | -49.3% |
| Suppliers | 440/4 | €5,117 | €2,597 | -€2,520 | -49.3% |
| Advances received on contracts in progress | 46 | €3,503 | €0 | -€3,503 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,387 | €11,144 | -€243 | -2.1% |
| Taxes | 450/3 | €8,387 | €8,337 | -€50 | -0.6% |
| Remuneration and social security | 454/9 | €3,000 | €2,807 | -€193 | -6.4% |
| Other amounts payable | 47/48 | €225,474 | €441,525 | +€216,051 | +95.8% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €11,934 | €19,571 | +€7,637 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,427 | €23,785 | -€6,642 | -21.8% |
| Other operating charges | 640/8 | €2,576 | €7,921 | +€5,345 | +207.5% |
| Non-recurring operating charges | 66A | - | €73,941 | +€73,941 | |
| Gross operating margin | 9900 | €170,461 | €61,163 | -€109,297 | -64.1% |
| Operating profit (loss) | 9901 | €125,524 | -€64,054 | -€189,578 | |
| Financial income | 75/76B | €1,187 | €3,543 | +€2,356 | +198.5% |
| Recurring financial income | 75 | €1,187 | €3,543 | +€2,356 | +198.5% |
| Financial charges | 65/66B | -€1,108 | €6,786 | +€7,894 | |
| Recurring financial charges | 65 | -€1,108 | €6,786 | +€7,894 | |
| Profit (loss) for the period before taxes | 9903 | €127,819 | -€67,298 | -€195,116 | |
| Income taxes | 67/77 | €28,393 | €254 | -€28,139 | -99.1% |
| Profit (loss) for the period | 9904 | €99,426 | -€67,551 | -€166,977 | |
| Profit (loss) for the period to be appropriated | 9905 | €99,426 | -€67,551 | -€166,977 |
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 11 October 2026 via checked.be.