Nick Coumans: 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.
Nick Coumans
Largest movements
- Cash +€53,531
up €53,531 (+62.4%), from €85,779 to €139,309
mainly Net result for the year (+€129,987) and Receivables within one year (+€10,979)
- Receivables within one year -€10,979
down €10,979 (-45.6%), from €24,097 to €13,118
of which Trade receivables: -€12,250
- Tangible fixed assets -€9,148
down €9,148 (-37.9%), from €24,121 to €14,974
of which Furniture and vehicles: -€7,481
- Reserves +€129,987
up €129,987 (+57.4%), from €226,448 to €356,435
- Debts after one year -€81,683
down €81,683 (-31.0%), from €263,171 to €181,488
- Tax, wage and social debts -€24,704
down €24,704 (-76.1%), from €32,456 to €7,752
of which Taxes: -€25,038
- Other debts +€8,902
up €8,902 (+9.6%), from €93,038 to €101,940
- Gross operating margin +€48,223
up €48,223 (+34.4%), from €140,098 to €188,321
- Taxes +€13,669
up €13,669 (+44.1%), from €30,997 to €44,666
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €765,947 | €799,429 | +€33,481 | +4.4% |
| Fixed assets | 21/28 | €655,321 | €646,174 | -€9,148 | -1.4% |
| Tangible fixed assets | 22/27 | €24,121 | €14,974 | -€9,148 | -37.9% |
| Plant, machinery and equipment | 23 | €5,960 | €4,293 | -€1,667 | -28.0% |
| Furniture and vehicles | 24 | €18,161 | €10,680 | -€7,481 | -41.2% |
| Financial fixed assets | 28 | €631,200 | €631,200 | = | 0.0% |
| Current assets | 29/58 | €110,626 | €153,255 | +€42,629 | +38.5% |
| Amounts receivable within one year | 40/41 | €24,097 | €13,118 | -€10,979 | -45.6% |
| Trade receivables | 40 | €23,500 | €11,250 | -€12,250 | -52.1% |
| Other amounts receivable | 41 | €597 | €1,868 | +€1,271 | +213% |
| Cash at bank and in hand | 54/58 | €85,779 | €139,309 | +€53,531 | +62.4% |
| Deferred charges and accrued income | 490/1 | €750 | €828 | +€77 | +10.3% |
| Total equity and liabilities | 10/49 | €765,947 | €799,429 | +€33,481 | +4.4% |
| Equity | 10/15 | €296,448 | €426,435 | +€129,987 | +43.8% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €226,448 | €356,435 | +€129,987 | +57.4% |
| Distributable reserves | 133 | €226,448 | €356,435 | +€129,987 | +57.4% |
| Amounts payable | 17/49 | €469,499 | €372,993 | -€96,506 | -20.6% |
| Amounts payable after more than one year | 17 | €263,171 | €181,488 | -€81,683 | -31.0% |
| Financial debts | 170/4 | €263,171 | €181,488 | -€81,683 | -31.0% |
| Amounts payable within one year | 42/48 | €206,328 | €191,505 | -€14,823 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €80,834 | €81,683 | +€849 | +1.1% |
| Trade debts | 44 | - | €130 | +€130 | |
| Suppliers | 440/4 | - | €130 | +€130 | |
| Taxes, remuneration and social security | 45 | €32,456 | €7,752 | -€24,704 | -76.1% |
| Taxes | 450/3 | €32,456 | €7,418 | -€25,038 | -77.1% |
| Remuneration and social security | 454/9 | - | €334 | +€334 | |
| Other amounts payable | 47/48 | €93,038 | €101,940 | +€8,902 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,104 | €9,148 | +€44 | +0.5% |
| Other operating charges | 640/8 | €309 | €706 | +€397 | +128% |
| Gross operating margin | 9900 | €140,098 | €188,321 | +€48,223 | +34.4% |
| Operating profit (loss) | 9901 | €130,685 | €178,468 | +€47,783 | +36.6% |
| Financial charges | 65/66B | €4,655 | €3,815 | -€840 | -18.1% |
| Recurring financial charges | 65 | €4,655 | €3,815 | -€840 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €126,030 | €174,653 | +€48,623 | +38.6% |
| Income taxes | 67/77 | €30,997 | €44,666 | +€13,669 | +44.1% |
| Profit (loss) for the period | 9904 | €95,033 | €129,987 | +€34,954 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,033 | €129,987 | +€34,954 | +36.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.