KOUDOU: 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.
KOUDOU
Largest movements
- Current investments -€185,353
down €185,353 (-24.5%), from €756,099 to €570,746
- Tangible fixed assets +€64,679
up €64,679 (+3.9%), from €1.6m to €1.7m
of which Assets under construction and advance payments: +€87,500
- Debts after one year -€72,357
down €72,357 (-9.9%), from €731,731 to €659,374
- Other debts -€26,053
down €26,053 (-47.4%), from €54,981 to €28,928
- Gross operating margin -€95,822
down €95,822 (-64.4%), from €148,873 to €53,051
- Financial charges +€12,951
up €12,951 (+110.5%), from €11,718 to €24,669
- Taxes -€4,460
down €4,460 (-53.8%), from €8,297 to €3,837
- Other operating charges -€4,383
down €4,383 (-22.5%), from €19,444 to €15,061
- Financial income +€2,882
up €2,882 (+12.6%), from €22,814 to €25,696
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 | €2,408,119 | €2,289,519 | -€118,600 | -4.9% |
| Fixed assets | 21/28 | €1,642,899 | €1,707,528 | +€64,629 | +3.9% |
| Tangible fixed assets | 22/27 | €1,642,849 | €1,707,528 | +€64,679 | +3.9% |
| Land and buildings | 22 | €600,845 | €600,845 | = | 0.0% |
| Furniture and vehicles | 24 | €57,645 | €48,390 | -€9,255 | -16.1% |
| Other tangible fixed assets | 26 | €984,359 | €970,793 | -€13,566 | -1.4% |
| Assets under construction and advance payments | 27 | - | €87,500 | +€87,500 | |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €765,220 | €581,991 | -€183,229 | -23.9% |
| Amounts receivable within one year | 40/41 | €6,548 | €8,423 | +€1,875 | +28.6% |
| Other amounts receivable | 41 | €6,548 | €8,423 | +€1,875 | +28.6% |
| Current investments | 50/53 | €756,099 | €570,746 | -€185,353 | -24.5% |
| Cash at bank and in hand | 54/58 | €2,206 | €2,525 | +€319 | +14.5% |
| Deferred charges and accrued income | 490/1 | €367 | €297 | -€70 | -19.1% |
| Total equity and liabilities | 10/49 | €2,408,119 | €2,289,519 | -€118,600 | -4.9% |
| Equity | 10/15 | €1,549,213 | €1,527,761 | -€21,452 | -1.4% |
| Contributions | 10/11 | €1,512,400 | €1,512,400 | = | 0.0% |
| Reserves | 13 | €78,667 | €78,667 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,807 | €76,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,854 | -€63,306 | -€21,452 | -51.3% |
| Amounts payable | 17/49 | €858,906 | €761,758 | -€97,148 | -11.3% |
| Amounts payable after more than one year | 17 | €731,731 | €659,374 | -€72,357 | -9.9% |
| Financial debts | 170/4 | €731,731 | €659,374 | -€72,357 | -9.9% |
| Amounts payable within one year | 42/48 | €127,175 | €102,384 | -€24,791 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €71,538 | €72,357 | +€819 | +1.1% |
| Trade debts | 44 | €656 | €377 | -€279 | -42.5% |
| Suppliers | 440/4 | €543 | €377 | -€166 | -30.6% |
| Bills of exchange payable | 441 | €113 | - | -€113 | |
| Taxes, remuneration and social security | 45 | - | €722 | +€722 | |
| Taxes | 450/3 | - | €722 | +€722 | |
| Other amounts payable | 47/48 | €54,981 | €28,928 | -€26,053 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,421 | €56,632 | +€1,211 | +2.2% |
| Other operating charges | 640/8 | €19,444 | €15,061 | -€4,383 | -22.5% |
| Gross operating margin | 9900 | €148,873 | €53,051 | -€95,822 | -64.4% |
| Operating profit (loss) | 9901 | €74,008 | -€18,642 | -€92,650 | |
| Financial income | 75/76B | €22,814 | €25,696 | +€2,882 | +12.6% |
| Recurring financial income | 75 | €22,814 | €25,696 | +€2,882 | +12.6% |
| Financial charges | 65/66B | €11,718 | €24,669 | +€12,951 | +110.5% |
| Recurring financial charges | 65 | €11,718 | €24,669 | +€12,951 | +110.5% |
| Profit (loss) for the period before taxes | 9903 | €85,104 | -€17,615 | -€102,719 | |
| Income taxes | 67/77 | €8,297 | €3,837 | -€4,460 | -53.8% |
| Profit (loss) for the period | 9904 | €76,807 | -€21,452 | -€98,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,807 | -€21,452 | -€98,259 |
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 4 October 2026 via checked.be.