KOEVEL: 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.
KOEVEL
Largest movements
- Current investments +€139,549
up €139,549 (+64.9%), from €215,000 to €354,549
- Tangible fixed assets -€26,009
down €26,009 (-33.3%), from €78,169 to €52,160
of which Leasing and similar rights: -€25,519
- Cash +€21,034
up €21,034 (+23.0%), from €91,547 to €112,581
mainly Other debts (+€205,302) and Net result for the year (+€149,598)
- Other debts +€205,302
new in 2025: €205,302
- Reserves -€65,000
down €65,000 (-16.3%), from €397,800 to €332,800
- Debts after one year -€25,556
down €25,556 (-46.5%), from €55,014 to €29,458
- Tax, wage and social debts +€22,785
up €22,785 (+220.2%), from €10,347 to €33,132
- Financial income +€8,065
up €8,065 (+268.8%), from €3,000 to €11,065
- Taxes -€7,143
down €7,143 (-13.5%), from €53,009 to €45,866
- Gross operating margin +€5,030
up €5,030 (+2.4%), from €208,829 to €213,859
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 | €502,169 | €638,349 | +€136,180 | +27.1% |
| Fixed assets | 21/28 | €78,169 | €52,160 | -€26,009 | -33.3% |
| Tangible fixed assets | 22/27 | €78,169 | €52,160 | -€26,009 | -33.3% |
| Furniture and vehicles | 24 | €1,892 | €1,402 | -€490 | -25.9% |
| Leasing and similar rights | 25 | €76,277 | €50,758 | -€25,519 | -33.5% |
| Current assets | 29/58 | €424,000 | €586,189 | +€162,189 | +38.3% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,454 | €16,226 | -€1,228 | -7.0% |
| Trade receivables | 40 | - | €4,566 | +€4,566 | |
| Other amounts receivable | 41 | €17,454 | €11,660 | -€5,794 | -33.2% |
| Current investments | 50/53 | €215,000 | €354,549 | +€139,549 | +64.9% |
| Cash at bank and in hand | 54/58 | €91,547 | €112,581 | +€21,034 | +23.0% |
| Deferred charges and accrued income | 490/1 | - | €2,833 | +€2,833 | |
| Total equity and liabilities | 10/49 | €502,169 | €638,349 | +€136,180 | +27.1% |
| Equity | 10/15 | €406,904 | €341,812 | -€65,092 | -16.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €397,800 | €332,800 | -€65,000 | -16.3% |
| Distributable reserves | 133 | €397,800 | €332,800 | -€65,000 | -16.3% |
| Profit (loss) carried forward | 14 | €6,104 | €6,012 | -€92 | -1.5% |
| Amounts payable | 17/49 | €95,265 | €296,537 | +€201,272 | +211.3% |
| Amounts payable after more than one year | 17 | €55,014 | €29,458 | -€25,556 | -46.5% |
| Financial debts | 170/4 | €55,014 | €29,458 | -€25,556 | -46.5% |
| Amounts payable within one year | 42/48 | €40,251 | €267,080 | +€226,828 | +563.5% |
| Current portion of amounts payable after more than one year | 42 | €24,541 | €25,556 | +€1,015 | +4.1% |
| Trade debts | 44 | €5,364 | €3,090 | -€2,273 | -42.4% |
| Suppliers | 440/4 | €5,364 | €3,090 | -€2,273 | -42.4% |
| Taxes, remuneration and social security | 45 | €10,347 | €33,132 | +€22,785 | +220.2% |
| Taxes | 450/3 | €10,347 | €33,132 | +€22,785 | +220.2% |
| Other amounts payable | 47/48 | - | €205,302 | +€205,302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,840 | €26,009 | -€831 | -3.1% |
| Other operating charges | 640/8 | €261 | €511 | +€249 | +95.4% |
| Gross operating margin | 9900 | €208,829 | €213,859 | +€5,030 | +2.4% |
| Operating profit (loss) | 9901 | €181,728 | €187,340 | +€5,612 | +3.1% |
| Financial income | 75/76B | €3,000 | €11,065 | +€8,065 | +268.8% |
| Recurring financial income | 75 | €3,000 | €11,065 | +€8,065 | +268.8% |
| Financial charges | 65/66B | €3,812 | €2,941 | -€871 | -22.8% |
| Recurring financial charges | 65 | €3,812 | €2,941 | -€871 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €180,916 | €195,463 | +€14,547 | +8.0% |
| Income taxes | 67/77 | €53,009 | €45,866 | -€7,143 | -13.5% |
| Profit (loss) for the period | 9904 | €127,907 | €149,598 | +€21,691 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €127,907 | €149,598 | +€21,691 | +17.0% |
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 10 October 2026 via checked.be.