KOLON: 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.
KOLON
Largest movements
- Stocks and contracts -€130,727
down €130,727 (-45.3%), from €288,810 to €158,082
- Tangible fixed assets -€49,704
down €49,704 (-18.6%), from €266,860 to €217,156
of which Plant, machinery and equipment: -€46,221
- Cash +€44,723
up €44,723 (+73.9%), from €60,513 to €105,236
mainly Net result for the year (+€277,123) and Stocks and contracts (+€130,727)
- Receivables within one year +€15,551
up €15,551 (+1.7%), from €893,832 to €909,383
of which Trade receivables: +€130,173
- Trade debts -€420,114
down €420,114 (-70.9%), from €592,549 to €172,435
- Reserves +€277,123
up €277,123 (+35.1%), from €790,539 to €1.1m
of which Distributable reserves: +€277,123
- Tax, wage and social debts +€24,209
up €24,209 (+34.3%), from €70,649 to €94,859
of which Taxes: +€49,890
- Gross operating margin +€124,359
up €124,359 (+13.9%), from €891,835 to €1.0m
- Depreciation -€55,749
down €55,749 (-49.9%), from €111,674 to €55,926
- Taxes +€42,971
up €42,971 (+80.7%), from €53,260 to €96,231
- Staff costs -€23,374
down €23,374 (-3.9%), from €594,288 to €570,914
- Financial income +€12,357
up €12,357 (+158.4%), from €7,801 to €20,157
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 | €1,522,691 | €1,405,259 | -€117,432 | -7.7% |
| Fixed assets | 21/28 | €271,700 | €220,833 | -€50,867 | -18.7% |
| Intangible fixed assets | 21 | €4,840 | €3,677 | -€1,163 | -24.0% |
| Tangible fixed assets | 22/27 | €266,860 | €217,156 | -€49,704 | -18.6% |
| Plant, machinery and equipment | 23 | €255,174 | €208,952 | -€46,221 | -18.1% |
| Furniture and vehicles | 24 | €11,687 | €8,204 | -€3,483 | -29.8% |
| Current assets | 29/58 | €1,250,990 | €1,184,425 | -€66,565 | -5.3% |
| Stocks and contracts in progress | 3 | €288,810 | €158,082 | -€130,727 | -45.3% |
| Stocks | 30/36 | €288,810 | €158,082 | -€130,727 | -45.3% |
| Amounts receivable within one year | 40/41 | €893,832 | €909,383 | +€15,551 | +1.7% |
| Trade receivables | 40 | €776,324 | €906,497 | +€130,173 | +16.8% |
| Other amounts receivable | 41 | €117,508 | €2,886 | -€114,622 | -97.5% |
| Cash at bank and in hand | 54/58 | €60,513 | €105,236 | +€44,723 | +73.9% |
| Deferred charges and accrued income | 490/1 | €7,835 | €11,724 | +€3,889 | +49.6% |
| Total equity and liabilities | 10/49 | €1,522,691 | €1,405,259 | -€117,432 | -7.7% |
| Equity | 10/15 | €834,003 | €1,111,126 | +€277,123 | +33.2% |
| Contributions | 10/11 | €43,464 | €43,464 | = | 0.0% |
| Reserves | 13 | €790,539 | €1,067,662 | +€277,123 | +35.1% |
| Non-distributable reserves | 130/1 | €33,603 | €33,603 | = | 0.0% |
| Other | 1319 | €33,603 | €33,603 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,862 | €21,862 | = | 0.0% |
| Distributable reserves | 133 | €735,074 | €1,012,198 | +€277,123 | +37.7% |
| Provisions and deferred taxes | 16 | €7,500 | €7,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,500 | €7,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable | 17/49 | €681,188 | €286,632 | -€394,555 | -57.9% |
| Amounts payable within one year | 42/48 | €663,199 | €273,702 | -€389,496 | -58.7% |
| Trade debts | 44 | €592,549 | €172,435 | -€420,114 | -70.9% |
| Suppliers | 440/4 | €592,549 | €172,435 | -€420,114 | -70.9% |
| Taxes, remuneration and social security | 45 | €70,649 | €94,859 | +€24,209 | +34.3% |
| Taxes | 450/3 | €6,789 | €56,678 | +€49,890 | +734.9% |
| Remuneration and social security | 454/9 | €63,861 | €38,181 | -€25,680 | -40.2% |
| Other amounts payable | 47/48 | - | €6,408 | +€6,408 | |
| Accrued charges and deferred income | 492/3 | €17,989 | €12,930 | -€5,059 | -28.1% |
| Non-recurring operating income | 76A | - | €6,600 | +€6,600 | |
| Remuneration, social security and pensions | 62 | €594,288 | €570,914 | -€23,374 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,674 | €55,926 | -€55,749 | -49.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,000 | €0 | +€8,000 | |
| Other operating charges | 640/8 | €625 | €1,512 | +€887 | +141.9% |
| Non-recurring operating charges | 66A | - | €26,172 | +€26,172 | |
| Gross operating margin | 9900 | €891,835 | €1,016,193 | +€124,359 | +13.9% |
| Operating profit (loss) | 9901 | €193,248 | €361,670 | +€168,422 | +87.2% |
| Financial income | 75/76B | €7,801 | €20,157 | +€12,357 | +158.4% |
| Recurring financial income | 75 | €7,801 | €20,157 | +€12,357 | +158.4% |
| Financial charges | 65/66B | €1,602 | €8,472 | +€6,871 | +429.0% |
| Recurring financial charges | 65 | €1,602 | €8,472 | +€6,871 | +429.0% |
| Profit (loss) for the period before taxes | 9903 | €199,447 | €373,355 | +€173,908 | +87.2% |
| Income taxes | 67/77 | €53,260 | €96,231 | +€42,971 | +80.7% |
| Profit (loss) for the period | 9904 | €146,187 | €277,123 | +€130,937 | +89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €146,187 | €277,123 | +€130,937 | +89.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.