Koersmix: 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.
Koersmix
Largest movements
- Receivables within one year -€297,609
down €297,609 (-47.6%), from €625,726 to €328,117
of which Trade receivables: -€295,611
- Cash +€82,330
up €82,330 (+165%), from €49,964 to €132,294
mainly Receivables within one year (+€297,609) and Investment in fixed assets (net) (+€49,943)
- Tangible fixed assets -€64,212
down €64,212 (-19.2%), from €335,096 to €270,884
of which Furniture and vehicles: -€47,890
- Trade debts -€342,586
down €342,586 (-56.2%), from €609,173 to €266,587
- Profit (loss) carried forward +€42,635
up €42,635 (+32.5%), from €130,994 to €173,629
- Debts after one year +€32,507
up €32,507 (+16.8%), from €193,590 to €226,097
- Staff costs -€63,307
down €63,307 (-39.4%), from €160,642 to €97,334
- Gross operating margin +€20,670
up €20,670 (+12.7%), from €162,271 to €182,941
- Depreciation -€17,994
down €17,994 (-54.2%), from €33,213 to €15,219
- Other operating charges +€14,048
up €14,048 (+893%), from €1,573 to €15,622
- Financial charges -€10,883
down €10,883 (-87.0%), from €12,508 to €1,626
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 | €1,015,649 | €733,915 | -€281,734 | -27.7% |
| Fixed assets | 21/28 | €336,686 | €271,524 | -€65,162 | -19.4% |
| Tangible fixed assets | 22/27 | €335,096 | €270,884 | -€64,212 | -19.2% |
| Land and buildings | 22 | €284,433 | €269,593 | -€14,840 | -5.2% |
| Plant, machinery and equipment | 23 | €1,482 | €0 | -€1,482 | -100% |
| Furniture and vehicles | 24 | €49,181 | €1,290 | -€47,890 | -97.4% |
| Financial fixed assets | 28 | €1,590 | €640 | -€950 | -59.7% |
| Current assets | 29/58 | €678,963 | €462,391 | -€216,572 | -31.9% |
| Amounts receivable within one year | 40/41 | €625,726 | €328,117 | -€297,609 | -47.6% |
| Trade receivables | 40 | €581,445 | €285,834 | -€295,611 | -50.8% |
| Other amounts receivable | 41 | €44,281 | €42,283 | -€1,998 | -4.5% |
| Cash at bank and in hand | 54/58 | €49,964 | €132,294 | +€82,330 | +165% |
| Deferred charges and accrued income | 490/1 | €3,273 | €1,980 | -€1,293 | -39.5% |
| Total equity and liabilities | 10/49 | €1,015,649 | €733,915 | -€281,734 | -27.7% |
| Equity | 10/15 | €152,954 | €195,589 | +€42,635 | +27.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €1,500 | €1,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,994 | €173,629 | +€42,635 | +32.5% |
| Amounts payable | 17/49 | €862,695 | €538,326 | -€324,369 | -37.6% |
| Amounts payable after more than one year | 17 | €193,590 | €226,097 | +€32,507 | +16.8% |
| Financial debts | 170/4 | €193,590 | €226,097 | +€32,507 | +16.8% |
| Amounts payable within one year | 42/48 | €669,105 | €312,229 | -€356,876 | -53.3% |
| Trade debts | 44 | €609,173 | €266,587 | -€342,586 | -56.2% |
| Suppliers | 440/4 | €609,173 | €266,587 | -€342,586 | -56.2% |
| Advances received on contracts in progress | 46 | €7,385 | €0 | -€7,385 | -100% |
| Taxes, remuneration and social security | 45 | €52,548 | €45,642 | -€6,906 | -13.1% |
| Taxes | 450/3 | €22,970 | €45,624 | +€22,654 | +98.6% |
| Remuneration and social security | 454/9 | €29,578 | €18 | -€29,560 | -99.9% |
| Remuneration, social security and pensions | 62 | €160,642 | €97,334 | -€63,307 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,213 | €15,219 | -€17,994 | -54.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,323 | +€7,323 | |
| Other operating charges | 640/8 | €1,573 | €15,622 | +€14,048 | +893% |
| Gross operating margin | 9900 | €162,271 | €182,941 | +€20,670 | +12.7% |
| Operating profit (loss) | 9901 | -€33,157 | €47,443 | +€80,600 | |
| Financial income | 75/76B | €1,624 | €535 | -€1,089 | -67.1% |
| Recurring financial income | 75 | €1,624 | €535 | -€1,089 | -67.1% |
| Financial charges | 65/66B | €12,508 | €1,626 | -€10,883 | -87.0% |
| Recurring financial charges | 65 | €12,508 | €1,626 | -€10,883 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | -€44,042 | €46,352 | +€90,394 | |
| Income taxes | 67/77 | €959 | €3,717 | +€2,758 | +287% |
| Profit (loss) for the period | 9904 | -€45,001 | €42,635 | +€87,636 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,001 | €42,635 | +€87,636 |
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 24 October 2026 via checked.be.