KOEVERT: 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.
KOEVERT
Largest movements
- Cash +€63,128
up €63,128 (+75.4%), from €83,705 to €146,833
mainly Net result for the year (+€97,585) and Depreciation (+€61,198)
- Receivables within one year -€37,697
down €37,697 (-68.0%), from €55,409 to €17,712
of which Other amounts receivable: -€32,679
- Tangible fixed assets -€8,355
down €8,355 (-2.0%), from €417,390 to €409,035
of which Land and buildings: -€21,968
- Reserves +€78,238
up €78,238 (+16.4%), from €476,870 to €555,108
of which Distributable reserves: +€78,238
- Debts after one year -€35,280
down €35,280 (-41.9%), from €84,233 to €48,953
- Other debts -€21,978
down €21,978 (-54.7%), from €40,149 to €18,171
- Trade debts +€15,704
up €15,704 (+37.1%), from €42,276 to €57,980
- Tax, wage and social debts -€15,060
down €15,060 (-23.3%), from €64,563 to €49,502
of which Taxes: -€10,876
- Gross operating margin -€15,427
down €15,427 (-2.4%), from €631,013 to €615,585
- Staff costs -€14,043
down €14,043 (-3.4%), from €413,896 to €399,853
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 | €783,801 | €805,684 | +€21,883 | +2.8% |
| Fixed assets | 21/28 | €417,390 | €409,035 | -€8,355 | -2.0% |
| Tangible fixed assets | 22/27 | €417,390 | €409,035 | -€8,355 | -2.0% |
| Land and buildings | 22 | €350,953 | €328,985 | -€21,968 | -6.3% |
| Plant, machinery and equipment | 23 | €21,895 | €31,838 | +€9,942 | +45.4% |
| Furniture and vehicles | 24 | €44,541 | €48,212 | +€3,670 | +8.2% |
| Current assets | 29/58 | €366,411 | €396,649 | +€30,238 | +8.3% |
| Stocks and contracts in progress | 3 | €37,174 | €41,029 | +€3,855 | +10.4% |
| Stocks | 30/36 | €37,174 | €41,029 | +€3,855 | +10.4% |
| Amounts receivable within one year | 40/41 | €55,409 | €17,712 | -€37,697 | -68.0% |
| Trade receivables | 40 | €13,821 | €8,804 | -€5,018 | -36.3% |
| Other amounts receivable | 41 | €41,588 | €8,909 | -€32,679 | -78.6% |
| Current investments | 50/53 | €185,000 | €185,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,705 | €146,833 | +€63,128 | +75.4% |
| Deferred charges and accrued income | 490/1 | €5,123 | €6,075 | +€951 | +18.6% |
| Total equity and liabilities | 10/49 | €783,801 | €805,684 | +€21,883 | +2.8% |
| Equity | 10/15 | €489,270 | €567,508 | +€78,238 | +16.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €476,870 | €555,108 | +€78,238 | +16.4% |
| Tax-exempt reserves | 132 | €314 | €314 | = | 0.0% |
| Distributable reserves | 133 | €476,556 | €554,794 | +€78,238 | +16.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €294,531 | €238,176 | -€56,355 | -19.1% |
| Amounts payable after more than one year | 17 | €84,233 | €48,953 | -€35,280 | -41.9% |
| Financial debts | 170/4 | €84,233 | €48,953 | -€35,280 | -41.9% |
| Amounts payable within one year | 42/48 | €192,527 | €171,850 | -€20,677 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €40,539 | €41,197 | +€657 | +1.6% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €42,276 | €57,980 | +€15,704 | +37.1% |
| Suppliers | 440/4 | €42,276 | €57,980 | +€15,704 | +37.1% |
| Taxes, remuneration and social security | 45 | €64,563 | €49,502 | -€15,060 | -23.3% |
| Taxes | 450/3 | €27,304 | €16,428 | -€10,876 | -39.8% |
| Remuneration and social security | 454/9 | €37,259 | €33,074 | -€4,184 | -11.2% |
| Other amounts payable | 47/48 | €40,149 | €18,171 | -€21,978 | -54.7% |
| Accrued charges and deferred income | 492/3 | €17,771 | €17,373 | -€398 | -2.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €413,896 | €399,853 | -€14,043 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,792 | €61,198 | +€3,406 | +5.9% |
| Other operating charges | 640/8 | €3,411 | €3,423 | +€12 | +0.3% |
| Non-recurring operating charges | 66A | - | €3,874 | +€3,874 | |
| Gross operating margin | 9900 | €631,013 | €615,585 | -€15,427 | -2.4% |
| Operating profit (loss) | 9901 | €155,913 | €147,238 | -€8,675 | -5.6% |
| Financial income | 75/76B | €4,002 | €5,910 | +€1,908 | +47.7% |
| Recurring financial income | 75 | €4,002 | €5,910 | +€1,908 | +47.7% |
| Financial charges | 65/66B | €13,397 | €15,906 | +€2,509 | +18.7% |
| Recurring financial charges | 65 | €13,397 | €15,906 | +€2,509 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €146,517 | €137,241 | -€9,276 | -6.3% |
| Income taxes | 67/77 | €43,216 | €39,657 | -€3,559 | -8.2% |
| Profit (loss) for the period | 9904 | €103,302 | €97,585 | -€5,717 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €103,302 | €97,585 | -€5,717 | -5.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.