KOUTER: 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.
What changed
KOUTER
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7.4m
2024 · -€531,157+€7.9m
Equity
€275,362
2024 · -€7.1m+€7.4m
Cash
€423
2024 · €365+€58
Balance sheet total
€11.5m
2024 · €5.2m+€6.3m
Largest movements
Assets
- Receivables within one year +€6.7m
up €6.7m (+1144.7%), from €583,911 to €7.3m
of which Trade receivables: +€6.7m
- Receivables after one year -€396,590
down €396,590 (-8.7%), from €4.6m to €4.2m
Equity and liabilities
- Debts after one year +€8.2m
new in 2025: €8.2m
- Trade debts -€8.0m
down €8.0m (-73.3%), from €11.0m to €2.9m
- Profit (loss) carried forward +€7.4m
up €7.4m, from -€7.3m to €112,862
- Accrued charges and deferred income -€1.2m
down €1.2m (-100.0%), from €1.2m to €32
Income statement
- Gross operating margin +€7.4m
up €7.4m (+376.7%), from €2.0m to €9.3m
- Other operating charges -€2.5m
down €2.5m (-99.9%), from €2.5m to €1,524
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.
Result 2024
-€531,157
Gross operating margin
+€7.4m
Other operating charges
+€2.5m
Other operating items
-€1.9m
Financial income
-€2,703
Financial charges
-€55,481
Taxes
+€666
Result 2025
€7.4m
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.
From operations
-€8.2m
Investment
+€300
Financing
+€8.2m
Cash 2024
€365
From operations (derived)
-€8.2m
Net result for the year
+€7.4m
Receivables after one year
+€396,590
Receivables within one year
-€6.7m
Smaller working-capital items
+€4,403
Trade debts
-€8.0m
Other debts
-€26,974
Accrued charges and deferred income
-€1.2m
Investment (derived)
+€300
Investment in fixed assets (net)
+€300
Financing
+€8.2m
Debts after one year
+€8.2m
Cash 2025
€423
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,172,235 | €11,456,850 | +€6.3m | +121.5% |
| Fixed assets | 21/28 | €300 | - | -€300 | |
| Financial fixed assets | 28 | €300 | - | -€300 | |
| Current assets | 29/58 | €5,171,935 | €11,456,850 | +€6.3m | +121.5% |
| Amounts receivable after more than one year | 29 | €4,574,026 | €4,177,436 | -€396,590 | -8.7% |
| Other amounts receivable | 291 | €4,574,026 | €4,177,436 | -€396,590 | -8.7% |
| Stocks and contracts in progress | 3 | €1 | €1 | = | 0.0% |
| Stocks | 30/36 | €1 | €1 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €583,911 | €7,268,062 | +€6.7m | +1144.7% |
| Trade receivables | 40 | €42,600 | €6,756,300 | +€6.7m | +15759.9% |
| Other amounts receivable | 41 | €541,311 | €511,762 | -€29,549 | -5.5% |
| Cash at bank and in hand | 54/58 | €365 | €423 | +€58 | +15.8% |
| Deferred charges and accrued income | 490/1 | €13,633 | €10,929 | -€2,704 | -19.8% |
| Total equity and liabilities | 10/49 | €5,172,235 | €11,456,850 | +€6.3m | +121.5% |
| Equity | 10/15 | -€7,088,870 | €275,362 | +€7.4m | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €87,500 | €87,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,251,370 | €112,862 | +€7.4m | |
| Amounts payable | 17/49 | €12,261,105 | €11,181,488 | -€1.1m | -8.8% |
| Amounts payable after more than one year | 17 | - | €8,167,500 | +€8.2m | |
| Financial debts | 170/4 | - | €8,167,500 | +€8.2m | |
| Amounts payable within one year | 42/48 | €11,081,244 | €3,013,956 | -€8.1m | -72.8% |
| Trade debts | 44 | €10,977,129 | €2,935,116 | -€8.0m | -73.3% |
| Suppliers | 440/4 | €10,977,129 | €2,935,116 | -€8.0m | -73.3% |
| Taxes, remuneration and social security | 45 | €666 | €2,365 | +€1,699 | +255.0% |
| Taxes | 450/3 | €666 | €2,365 | +€1,699 | +255.0% |
| Other amounts payable | 47/48 | €103,448 | €76,474 | -€26,974 | -26.1% |
| Accrued charges and deferred income | 492/3 | €1,179,861 | €32 | -€1.2m | -100.0% |
| Non-recurring operating income | 76A | - | €2,276,963 | +€2.3m | |
| Other operating charges | 640/8 | €2,485,747 | €1,524 | -€2.5m | -99.9% |
| Non-recurring operating charges | 66A | €0 | €1,913,333 | +€1.9m | |
| Gross operating margin | 9900 | €1,959,473 | €9,341,490 | +€7.4m | +376.7% |
| Operating profit (loss) | 9901 | -€526,274 | €7,426,633 | +€8.0m | |
| Financial income | 75/76B | €13,633 | €10,930 | -€2,703 | -19.8% |
| Recurring financial income | 75 | €13,633 | €10,930 | -€2,703 | -19.8% |
| Financial charges | 65/66B | €17,849 | €73,330 | +€55,481 | +310.8% |
| Recurring financial charges | 65 | €17,849 | €73,330 | +€55,481 | +310.8% |
| Profit (loss) for the period before taxes | 9903 | -€530,490 | €7,364,232 | +€7.9m | |
| Income taxes | 67/77 | €666 | - | -€666 | |
| Profit (loss) for the period | 9904 | -€531,157 | €7,364,232 | +€7.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€531,157 | €7,364,232 | +€7.9m |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.