KOUTERLOS: 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.
KOUTERLOS
Largest movements
- Cash -€38,059
down €38,059 (-70.9%), from €53,652 to €15,593
- Tangible fixed assets +€21,975
up €21,975 (+3.1%), from €706,171 to €728,146
of which Plant, machinery and equipment: +€47,365
- Other debts -€51,637
down €51,637 (-81.7%), from €63,221 to €11,584
- Profit (loss) carried forward +€42,820
up €42,820 (+36.8%), from €116,259 to €159,079
- Accrued charges and deferred income -€27,520
down €27,520 (-96.5%), from €28,519 to €999
- Current portion of long-term debt +€14,859
up €14,859 (+43.5%), from €34,166 to €49,026
- Gross operating margin +€56,315
up €56,315 (+101.8%), from €55,337 to €111,652
- Financial charges +€14,188
up €14,188 (+258.4%), from €5,492 to €19,679
- Taxes +€8,491
up €8,491 (+136.8%), from €6,206 to €14,697
- Depreciation +€5,124
up €5,124 (+25.3%), from €20,285 to €25,408
- Other operating charges +€4,315
up €4,315 (+91.1%), from €4,736 to €9,051
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €766,030 | €758,177 | -€7,853 | -1.0% |
| Fixed assets | 21/28 | €706,171 | €728,146 | +€21,975 | +3.1% |
| Tangible fixed assets | 22/27 | €706,171 | €728,146 | +€21,975 | +3.1% |
| Land and buildings | 22 | €706,171 | €680,781 | -€25,390 | -3.6% |
| Plant, machinery and equipment | 23 | - | €47,365 | +€47,365 | |
| Current assets | 29/58 | €59,859 | €30,031 | -€29,828 | -49.8% |
| Amounts receivable within one year | 40/41 | €5,107 | €12,734 | +€7,626 | +149.3% |
| Trade receivables | 40 | - | €2,854 | +€2,854 | |
| Other amounts receivable | 41 | €5,107 | €9,880 | +€4,772 | +93.4% |
| Current investments | 50/53 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,652 | €15,593 | -€38,059 | -70.9% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,604 | +€604 | +60.4% |
| Total equity and liabilities | 10/49 | €766,030 | €758,177 | -€7,853 | -1.0% |
| Equity | 10/15 | €321,265 | €364,085 | +€42,820 | +13.3% |
| Contributions | 10/11 | €170,030 | €170,030 | = | 0.0% |
| Capital | 10 | €170,030 | €170,030 | = | 0.0% |
| Issued capital | 100 | €170,030 | €170,030 | = | 0.0% |
| Reserves | 13 | €34,976 | €34,976 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,103 | €17,103 | = | 0.0% |
| Legal reserve | 130 | €17,003 | €17,003 | = | 0.0% |
| Own shares acquired | 1312 | €100 | - | -€100 | |
| Other | 1319 | - | €100 | +€100 | |
| Distributable reserves | 133 | €17,873 | €17,873 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,259 | €159,079 | +€42,820 | +36.8% |
| Amounts payable | 17/49 | €444,765 | €394,092 | -€50,673 | -11.4% |
| Amounts payable after more than one year | 17 | €317,977 | €320,554 | +€2,577 | +0.8% |
| Financial debts | 170/4 | €317,977 | €320,554 | +€2,577 | +0.8% |
| Amounts payable within one year | 42/48 | €98,269 | €72,540 | -€25,729 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €34,166 | €49,026 | +€14,859 | +43.5% |
| Trade debts | 44 | €881 | €4,589 | +€3,708 | +420.9% |
| Suppliers | 440/4 | €881 | €4,589 | +€3,708 | +420.9% |
| Taxes, remuneration and social security | 45 | - | €7,340 | +€7,340 | |
| Taxes | 450/3 | - | €7,340 | +€7,340 | |
| Other amounts payable | 47/48 | €63,221 | €11,584 | -€51,637 | -81.7% |
| Accrued charges and deferred income | 492/3 | €28,519 | €999 | -€27,520 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,285 | €25,408 | +€5,124 | +25.3% |
| Other operating charges | 640/8 | €4,736 | €9,051 | +€4,315 | +91.1% |
| Gross operating margin | 9900 | €55,337 | €111,652 | +€56,315 | +101.8% |
| Operating profit (loss) | 9901 | €30,317 | €77,193 | +€46,877 | +154.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €5,492 | €19,679 | +€14,188 | +258.4% |
| Recurring financial charges | 65 | €5,492 | €19,679 | +€14,188 | +258.4% |
| Profit (loss) for the period before taxes | 9903 | €24,825 | €57,517 | +€32,692 | +131.7% |
| Income taxes | 67/77 | €6,206 | €14,697 | +€8,491 | +136.8% |
| Profit (loss) for the period | 9904 | €18,619 | €42,820 | +€24,201 | +130.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,619 | €42,820 | +€24,201 | +130.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.