Koelen C & W: 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.
Koelen C & W
Largest movements
- Cash +€91,599
up €91,599 (+117%), from €78,145 to €169,743
mainly Current investments (+€50,000) and Net result for the year (+€40,808)
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Tangible fixed assets -€18,311
down €18,311 (-30.1%), from €60,878 to €42,567
of which Plant, machinery and equipment: -€19,539
- Intangible fixed assets -€6,500
down €6,500 (-17.1%), from €37,914 to €31,414
- Receivables within one year +€3,488
up €3,488 (+9.9%), from €35,339 to €38,827
of which Trade receivables: +€7,220
- Profit (loss) carried forward +€40,808
up €40,808 (+26.9%), from €151,850 to €192,658
- Trade debts -€28,250
down €28,250 (-60.1%), from €47,002 to €18,752
- Tax, wage and social debts +€8,551
up €8,551 (+19.7%), from €43,423 to €51,974
of which Taxes: +€6,089
- Gross operating margin +€49,144
up €49,144 (+16.5%), from €298,492 to €347,636
- Taxes +€8,434
up €8,434, from €0 to €8,434
- Depreciation -€5,798
down €5,798 (-18.1%), from €32,096 to €26,298
- Staff costs -€4,722
down €4,722 (-1.8%), from €268,269 to €263,546
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 | €262,275 | €285,384 | +€23,109 | +8.8% |
| Fixed assets | 21/28 | €98,792 | €73,981 | -€24,811 | -25.1% |
| Intangible fixed assets | 21 | €37,914 | €31,414 | -€6,500 | -17.1% |
| Tangible fixed assets | 22/27 | €60,878 | €42,567 | -€18,311 | -30.1% |
| Plant, machinery and equipment | 23 | €60,642 | €41,103 | -€19,539 | -32.2% |
| Furniture and vehicles | 24 | €236 | €1,464 | +€1,228 | +522% |
| Current assets | 29/58 | €163,483 | €211,404 | +€47,920 | +29.3% |
| Stocks and contracts in progress | 3 | - | €2,834 | +€2,834 | |
| Stocks | 30/36 | - | €2,834 | +€2,834 | |
| Amounts receivable within one year | 40/41 | €35,339 | €38,827 | +€3,488 | +9.9% |
| Trade receivables | 40 | €30,603 | €37,823 | +€7,220 | +23.6% |
| Other amounts receivable | 41 | €4,735 | €1,004 | -€3,732 | -78.8% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €78,145 | €169,743 | +€91,599 | +117% |
| Total equity and liabilities | 10/49 | €262,275 | €285,384 | +€23,109 | +8.8% |
| Equity | 10/15 | €171,850 | €212,658 | +€40,808 | +23.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,850 | €192,658 | +€40,808 | +26.9% |
| Amounts payable | 17/49 | €90,425 | €72,726 | -€17,699 | -19.6% |
| Amounts payable within one year | 42/48 | €90,425 | €70,726 | -€19,699 | -21.8% |
| Trade debts | 44 | €47,002 | €18,752 | -€28,250 | -60.1% |
| Suppliers | 440/4 | €47,002 | €18,752 | -€28,250 | -60.1% |
| Taxes, remuneration and social security | 45 | €43,423 | €51,974 | +€8,551 | +19.7% |
| Taxes | 450/3 | €7,472 | €13,561 | +€6,089 | +81.5% |
| Remuneration and social security | 454/9 | €35,951 | €38,413 | +€2,463 | +6.9% |
| Accrued charges and deferred income | 492/3 | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €268,269 | €263,546 | -€4,722 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,096 | €26,298 | -€5,798 | -18.1% |
| Other operating charges | 640/8 | €5,518 | €3,594 | -€1,924 | -34.9% |
| Non-recurring operating charges | 66A | - | €557 | +€557 | |
| Gross operating margin | 9900 | €298,492 | €347,636 | +€49,144 | +16.5% |
| Operating profit (loss) | 9901 | -€7,390 | €53,642 | +€61,031 | |
| Financial income | 75/76B | €71 | €1,117 | +€1,046 | +1,464% |
| Recurring financial income | 75 | €71 | €1,117 | +€1,046 | +1,464% |
| Financial charges | 65/66B | €4,917 | €5,516 | +€599 | +12.2% |
| Recurring financial charges | 65 | €4,917 | €5,516 | +€599 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,235 | €49,242 | +€61,478 | |
| Income taxes | 67/77 | €0 | €8,434 | +€8,434 | |
| Profit (loss) for the period | 9904 | -€12,235 | €40,808 | +€53,043 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,235 | €40,808 | +€53,043 |
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 27 October 2026 via checked.be.