Koutermolen: what changed
Two financial 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
Koutermolen
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€14.3m
2024 · -€101,805+€14.4m
Equity
€358.5m
2024 · €345.2m+€13.3m
Cash
€444,003
2024 · €792,318-€348,315
Balance sheet total
€410.0m
2024 · €406.7m+€3.2m
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€15.4m
down €15.4m (-28.1%), from €54.9m to €39.5m
of which Other amounts payable: -€12.1m
- Profit (loss) carried forward +€12.6m
up €12.6m (+216,057%), from €5,813 to €12.6m
- Short-term financial debts +€4.5m
up €4.5m, from €0 to €4.5m
Income statement
- Financial income +€15.1m
up €15.1m (+11,591%), from €130,033 to €15.2m
of which Financial income: +€15.1m
- Financial charges +€633,076
up €633,076 (+188%), from €336,321 to €969,398
of which Non-recurring financial charges: +€473,000
- Services and other goods +€582,096
up €582,096 (+16.9%), from €3.4m to €4.0m
- Turnover +€489,500
up €489,500 (+11.2%), from €4.4m to €4.9m
- Other operating income +€120,867
up €120,867 (+435%), from €27,761 to €148,628
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
-€101,805
Turnover
+€489,500
Other operating income
+€120,867
Services and other goods
-€582,096
Staff costs
-€71,247
Depreciation
-€9,981
Other operating charges
-€5,183
Other operating items
+€1,504
Financial income
+€15.1m
Financial charges
-€633,076
Taxes
-€6,072
Result 2025
€14.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€15.3m
Investment
-€3.7m
Financing
-€11.9m
Cash 2024
€792,318
From operations (derived)
+€15.3m
Net result for the year
+€14.3m
Depreciation
+€68,909
Receivables within one year
+€52,103
Trade debts
-€76,449
Tax, wage and social debts
-€11,600
Other debts
+€1.0m
Accrued charges and deferred income
-€57,345
Investment (derived)
-€3.7m
Investment in fixed assets (net)
-€3.7m
Financing
-€11.9m
Debts after one year
-€15.4m
Short-term financial debts
+€4.5m
Contributions, distributions and other
-€1.0m
Cash 2025
€444,003
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €406,730,280 | €409,961,943 | +€3.2m | +0.8% |
| Fixed assets | 21/28 | €403,874,920 | €407,507,002 | +€3.6m | +0.9% |
| Tangible fixed assets | 22/27 | €167,575 | €164,280 | -€3,295 | -2.0% |
| Furniture and vehicles | 24 | €167,575 | €164,280 | -€3,295 | -2.0% |
| Financial fixed assets | 28 | €403,707,345 | €407,342,721 | +€3.6m | +0.9% |
| Affiliated companies | 280/1 | €402,283,982 | €401,498,982 | -€785,000 | -0.2% |
| Participating interests | 280 | €341,493,982 | €341,493,982 | = | 0.0% |
| Amounts receivable | 281 | €60,790,000 | €60,005,000 | -€785,000 | -1.3% |
| Companies linked by participating interests | 282/3 | €1,253,000 | €3,200,000 | +€1.9m | +155% |
| Participating interests | 282 | €800,000 | €3,200,000 | +€2.4m | +300% |
| Amounts receivable | 283 | €453,000 | €0 | -€453,000 | -100% |
| Other financial fixed assets | 284/8 | €170,363 | €2,643,740 | +€2.5m | +1,452% |
| Amounts receivable and cash guarantees | 285/8 | €170,363 | €2,643,740 | +€2.5m | +1,452% |
| Current assets | 29/58 | €2,855,360 | €2,454,941 | -€400,418 | -14.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,978,830 | €1,926,728 | -€52,103 | -2.6% |
| Trade receivables | 40 | €1,489,487 | €1,881,045 | +€391,558 | +26.3% |
| Other amounts receivable | 41 | €489,344 | €45,683 | -€443,661 | -90.7% |
| Cash at bank and in hand | 54/58 | €792,318 | €444,003 | -€348,315 | -44.0% |
| Deferred charges and accrued income | 490/1 | €84,211 | €84,211 | = | 0.0% |
| Total equity and liabilities | 10/49 | €406,730,280 | €409,961,943 | +€3.2m | +0.8% |
| Equity | 10/15 | €345,209,629 | €358,484,407 | +€13.3m | +3.8% |
| Contributions | 10/11 | €257,163,816 | €257,163,816 | = | 0.0% |
| Capital | 10 | €257,163,816 | €257,163,816 | = | 0.0% |
| Issued capital | 100 | €257,163,816 | €257,163,816 | = | 0.0% |
| Reserves | 13 | €88,040,000 | €88,755,000 | +€715,000 | +0.8% |
| Non-distributable reserves | 130/1 | €4,540,000 | €5,255,000 | +€715,000 | +15.7% |
| Legal reserve | 130 | €4,540,000 | €5,255,000 | +€715,000 | +15.7% |
| Distributable reserves | 133 | €83,500,000 | €83,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,813 | €12,565,591 | +€12.6m | +216,057% |
| Amounts payable | 17/49 | €61,520,651 | €51,477,536 | -€10.0m | -16.3% |
| Amounts payable after more than one year | 17 | €54,886,429 | €39,488,707 | -€15.4m | -28.1% |
| Financial debts | 170/4 | €10,571,429 | €7,285,714 | -€3.3m | -31.1% |
| Credit institutions | 173 | €10,571,429 | €7,285,714 | -€3.3m | -31.1% |
| Other amounts payable | 178/9 | €44,315,000 | €32,202,993 | -€12.1m | -27.3% |
| Amounts payable within one year | 42/48 | €6,549,578 | €11,961,529 | +€5.4m | +82.6% |
| Current portion of amounts payable after more than one year | 42 | €3,285,714 | €3,285,714 | = | 0.0% |
| Financial debts | 43 | €0 | €4,500,000 | +€4.5m | |
| Credit institutions | 430/8 | €0 | €4,500,000 | +€4.5m | |
| Trade debts | 44 | €711,850 | €635,402 | -€76,449 | -10.7% |
| Suppliers | 440/4 | €711,850 | €635,402 | -€76,449 | -10.7% |
| Taxes, remuneration and social security | 45 | €252,013 | €240,413 | -€11,600 | -4.6% |
| Taxes | 450/3 | €91,708 | €78,151 | -€13,557 | -14.8% |
| Remuneration and social security | 454/9 | €160,305 | €162,262 | +€1,957 | +1.2% |
| Other amounts payable | 47/48 | €2,300,000 | €3,300,000 | +€1.0m | +43.5% |
| Accrued charges and deferred income | 492/3 | €84,644 | €27,300 | -€57,345 | -67.7% |
| Operating income | 70/76A | €4,400,582 | €5,012,452 | +€611,871 | +13.9% |
| Turnover | 70 | €4,372,820 | €4,862,320 | +€489,500 | +11.2% |
| Other operating income | 74 | €27,761 | €148,628 | +€120,867 | +435% |
| Non-recurring operating income | 76A | - | €1,504 | +€1,504 | |
| Operating charges | 60/66A | €4,294,512 | €4,963,018 | +€668,506 | +15.6% |
| Services and other goods | 61 | €3,447,327 | €4,029,423 | +€582,096 | +16.9% |
| Remuneration, social security and pensions | 62 | €784,404 | €855,651 | +€71,247 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,928 | €68,909 | +€9,981 | +16.9% |
| Other operating charges | 640/8 | €3,852 | €9,035 | +€5,183 | +135% |
| Operating profit (loss) | 9901 | €106,070 | €49,434 | -€56,636 | -53.4% |
| Financial income | 75/76B | €130,033 | €15,202,400 | +€15.1m | +11,591% |
| Recurring financial income | 75 | €130,033 | €15,202,400 | +€15.1m | +11,591% |
| Income from financial fixed assets | 750 | €0 | €15,200,000 | +€15.2m | |
| Income from current assets | 751 | €130,033 | €2,400 | -€127,633 | -98.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €336,321 | €969,398 | +€633,076 | +188% |
| Recurring financial charges | 65 | €336,321 | €496,398 | +€160,076 | +47.6% |
| Debt charges | 650 | €335,069 | €479,255 | +€144,186 | +43.0% |
| Other financial charges | 652/9 | €1,252 | €17,143 | +€15,891 | +1,269% |
| Non-recurring financial charges | 66B | - | €473,000 | +€473,000 | |
| Profit (loss) for the period before taxes | 9903 | -€100,219 | €14,282,436 | +€14.4m | |
| Income taxes | 67/77 | €1,586 | €7,658 | +€6,072 | +383% |
| Taxes | 670/3 | €1,586 | €7,658 | +€6,072 | +383% |
| Profit (loss) for the period | 9904 | -€101,805 | €14,274,778 | +€14.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€101,805 | €14,274,778 | +€14.4m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.