KOIBA: what changed
What changed
KOIBA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€11.0m
2024 · €4.9m+€6.2m
Equity
€127.6m
2024 · €117.8m+€9.8m
Cash
€1.5m
2024 · €1.2m+€240,010
Balance sheet total
€168.6m
2024 · €157.0m+€11.6m
Largest movements
Assets
- Tangible fixed assets +€13.7m
up €13.7m (+143%), from €9.6m to €23.3m
- Financial fixed assets -€4.1m
down €4.1m (-4.0%), from €102.0m to €97.9m
of which Affiliated companies: -€3.0m
Equity and liabilities
- Profit (loss) carried forward +€9.8m
up €9.8m (+12.6%), from €78.1m to €87.9m
- Current portion of long-term debt -€3.0m
down €3.0m (-21.6%), from €13.7m to €10.7m
- Debts after one year +€2.2m
up €2.2m (+15.8%), from €13.9m to €16.1m
of which Financial debts: +€2.2m
- Short-term financial debts +€1.8m
up €1.8m (+18.6%), from €9.7m to €11.5m
Income statement
- Financial income +€5.2m
up €5.2m (+61.8%), from €8.4m to €13.5m
of which Non-recurring financial income: +€4.4m
- Financial charges -€1.4m
down €1.4m (-47.5%), from €2.9m to €1.5m
of which Financial charges: -€1.1m
- Depreciation +€568,972
up €568,972 (+147%), from €386,815 to €955,786
- Write-downs +€454,880
up €454,880, from -€454,880 to €0
- Other operating charges -€436,452
down €436,452 (-87.0%), from €501,391 to €64,938
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4.9m
Turnover
-€14,156
Other operating income
+€27,075
Services and other goods
-€80,311
Staff costs
-€33,913
Depreciation
-€568,972
Write-downs
-€454,880
Other operating charges
+€436,452
Other operating items
-€5,517
Financial income
+€5.2m
Financial charges
+€1.4m
Taxes
+€360,483
Result 2025
€11.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11.7m
Investment
-€11.3m
Financing
-€153,822
Cash 2024
€1.2m
From operations (derived)
+€11.7m
Net result for the year
+€11.0m
Depreciation
+€955,786
Receivables after one year
-€1.5m
Receivables within one year
+€153,069
Deferred charges and accrued income
+€385,357
Trade debts
+€149,418
Tax, wage and social debts
-€280,971
Other debts
+€866,026
Accrued charges and deferred income
-€30,277
Investment (derived)
-€11.3m
Investment in fixed assets (net)
-€10.6m
Current investments
-€732,149
Financing
-€153,822
Debts after one year
+€2.2m
Current portion of long-term debt
-€3.0m
Short-term financial debts
+€1.8m
Contributions, distributions and other
-€1.2m
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,010,412 | €168,607,334 | +€11.6m | +7.4% |
| Fixed assets | 21/28 | €111,573,937 | €121,215,658 | +€9.6m | +8.6% |
| Tangible fixed assets | 22/27 | €9,582,280 | €23,328,860 | +€13.7m | +143% |
| Land and buildings | 22 | €7,885,720 | €13,254,268 | +€5.4m | +68.1% |
| Furniture and vehicles | 24 | €10,060 | €527,177 | +€517,117 | +5,140% |
| Leasing and similar rights | 25 | €69,177 | €51,552 | -€17,625 | -25.5% |
| Other tangible fixed assets | 26 | €343,539 | €3,021,000 | +€2.7m | +779% |
| Assets under construction and advance payments | 27 | €1,273,785 | €6,474,863 | +€5.2m | +408% |
| Financial fixed assets | 28 | €101,991,657 | €97,886,798 | -€4.1m | -4.0% |
| Affiliated companies | 280/1 | €95,650,120 | €92,680,717 | -€3.0m | -3.1% |
| Participating interests | 280 | €95,650,120 | €92,680,717 | -€3.0m | -3.1% |
| Companies linked by participating interests | 282/3 | €6,139,837 | €5,204,382 | -€935,455 | -15.2% |
| Participating interests | 282 | €6,139,837 | €5,204,382 | -€935,455 | -15.2% |
| Other financial fixed assets | 284/8 | €201,700 | €1,700 | -€200,000 | -99.2% |
| Shares | 284 | €200,000 | €0 | -€200,000 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €45,436,475 | €47,391,676 | +€2.0m | +4.3% |
| Amounts receivable after more than one year | 29 | €28,841,970 | €30,363,438 | +€1.5m | +5.3% |
| Other amounts receivable | 291 | €28,841,970 | €30,363,438 | +€1.5m | +5.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €392,109 | €239,040 | -€153,069 | -39.0% |
| Trade receivables | 40 | €117,279 | €80,965 | -€36,314 | -31.0% |
| Other amounts receivable | 41 | €274,831 | €158,076 | -€116,755 | -42.5% |
| Current investments | 50/53 | €14,567,324 | €15,299,473 | +€732,149 | +5.0% |
| Other investments | 51/53 | €14,567,324 | €15,299,473 | +€732,149 | +5.0% |
| Cash at bank and in hand | 54/58 | €1,210,033 | €1,450,043 | +€240,010 | +19.8% |
| Deferred charges and accrued income | 490/1 | €425,039 | €39,682 | -€385,357 | -90.7% |
| Total equity and liabilities | 10/49 | €157,010,412 | €168,607,334 | +€11.6m | +7.4% |
| Equity | 10/15 | €117,776,887 | €127,623,436 | +€9.8m | +8.4% |
| Contributions | 10/11 | €32,950,595 | €32,950,595 | = | 0.0% |
| Capital | 10 | €32,950,595 | €32,950,595 | = | 0.0% |
| Issued capital | 100 | €32,950,595 | €32,950,595 | = | 0.0% |
| Reserves | 13 | €6,768,692 | €6,768,692 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,295,060 | €3,295,060 | = | 0.0% |
| Legal reserve | 130 | €3,295,060 | €3,295,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,267 | €14,267 | = | 0.0% |
| Distributable reserves | 133 | €3,459,366 | €3,459,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,057,600 | €87,904,148 | +€9.8m | +12.6% |
| Amounts payable | 17/49 | €39,233,525 | €40,983,898 | +€1.8m | +4.5% |
| Amounts payable after more than one year | 17 | €13,945,161 | €16,142,534 | +€2.2m | +15.8% |
| Financial debts | 170/4 | €13,945,161 | €16,142,534 | +€2.2m | +15.8% |
| Subordinated loans | 170 | €380,431 | €363,267 | -€17,164 | -4.5% |
| Leasing and similar obligations | 172 | €44,269 | €22,009 | -€22,260 | -50.3% |
| Credit institutions | 173 | €13,520,462 | €15,757,259 | +€2.2m | +16.5% |
| Other loans | 174 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,175,780 | €24,759,058 | -€416,722 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €13,656,771 | €10,705,575 | -€3.0m | -21.6% |
| Financial debts | 43 | €9,700,000 | €11,500,000 | +€1.8m | +18.6% |
| Credit institutions | 430/8 | €9,700,000 | €11,500,000 | +€1.8m | +18.6% |
| Trade debts | 44 | €682,125 | €831,543 | +€149,418 | +21.9% |
| Suppliers | 440/4 | €682,125 | €831,543 | +€149,418 | +21.9% |
| Taxes, remuneration and social security | 45 | €386,884 | €105,912 | -€280,971 | -72.6% |
| Taxes | 450/3 | €370,821 | €88,058 | -€282,764 | -76.3% |
| Remuneration and social security | 454/9 | €16,062 | €17,855 | +€1,792 | +11.2% |
| Other amounts payable | 47/48 | €750,000 | €1,616,026 | +€866,026 | +115% |
| Accrued charges and deferred income | 492/3 | €112,584 | €82,306 | -€30,277 | -26.9% |
| Operating income | 70/76A | €940,272 | €947,675 | +€7,403 | +0.8% |
| Turnover | 70 | €581,446 | €567,290 | -€14,156 | -2.4% |
| Other operating income | 74 | €352,039 | €379,114 | +€27,075 | +7.7% |
| Non-recurring operating income | 76A | €6,787 | €1,271 | -€5,517 | -81.3% |
| Operating charges | 60/66A | €1,570,390 | €2,272,014 | +€701,623 | +44.7% |
| Services and other goods | 61 | €1,053,972 | €1,134,283 | +€80,311 | +7.6% |
| Remuneration, social security and pensions | 62 | €83,093 | €117,006 | +€33,913 | +40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386,815 | €955,786 | +€568,972 | +147% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€454,880 | €0 | +€454,880 | |
| Other operating charges | 640/8 | €501,391 | €64,938 | -€436,452 | -87.0% |
| Operating profit (loss) | 9901 | -€630,118 | -€1,324,339 | -€694,221 | -110% |
| Financial income | 75/76B | €8,366,250 | €13,535,670 | +€5.2m | +61.8% |
| Recurring financial income | 75 | €6,635,437 | €7,433,892 | +€798,454 | +12.0% |
| Income from financial fixed assets | 750 | €3,237,048 | €4,805,101 | +€1.6m | +48.4% |
| Income from current assets | 751 | €2,640,815 | €2,009,069 | -€631,745 | -23.9% |
| Other financial income | 752/9 | €757,574 | €619,721 | -€137,853 | -18.2% |
| Non-recurring financial income | 76B | €1,730,813 | €6,101,778 | +€4.4m | +253% |
| Financial charges | 65/66B | €2,863,871 | €1,503,342 | -€1.4m | -47.5% |
| Recurring financial charges | 65 | €2,563,871 | €1,503,342 | -€1.1m | -41.4% |
| Debt charges | 650 | €1,471,232 | €1,216,704 | -€254,528 | -17.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €931,903 | -€1,443,733 | -€2.4m | |
| Other financial charges | 652/9 | €160,736 | €1,730,371 | +€1.6m | +977% |
| Non-recurring financial charges | 66B | €300,000 | €0 | -€300,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €4,872,261 | €10,707,989 | +€5.8m | +120% |
| Income taxes | 67/77 | €21,924 | -€338,559 | -€360,483 | |
| Taxes | 670/3 | €117,676 | €118,333 | +€657 | +0.6% |
| Tax adjustments and reversals of tax provisions | 77 | €95,752 | €456,892 | +€361,140 | +377% |
| Profit (loss) for the period | 9904 | €4,850,338 | €11,046,549 | +€6.2m | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €4,850,338 | €11,046,549 | +€6.2m | +128% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.