P. Coating: 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.
P. Coating
Largest movements
- Tangible fixed assets -€10,500
down €10,500 (-3.6%), from €289,156 to €278,656
- Receivables within one year +€7,934
new in 2025: €7,934
- Debts after one year -€31,172
down €31,172 (-10.9%), from €285,412 to €254,241
- Current portion of long-term debt +€15,916
new in 2025: €15,916
- Profit (loss) carried forward +€8,021
up €8,021 (+14.2%), from -€56,662 to -€48,641
- Depreciation -€36,646
down €36,646 (-77.7%), from €47,146 to €10,500
- Write-downs -€14,957
no longer reported in 2025 (was €14,957)
- Gross operating margin +€10,281
up €10,281 (+40.6%), from €25,334 to €35,615
- Financial charges -€2,429
down €2,429 (-16.8%), from €14,479 to €12,050
- Other operating charges -€371
down €371 (-6.8%), from €5,414 to €5,044
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 | €289,237 | €286,611 | -€2,625 | -0.9% |
| Fixed assets | 21/28 | €289,156 | €278,656 | -€10,500 | -3.6% |
| Tangible fixed assets | 22/27 | €289,156 | €278,656 | -€10,500 | -3.6% |
| Land and buildings | 22 | €289,156 | €278,656 | -€10,500 | -3.6% |
| Current assets | 29/58 | €81 | €7,956 | +€7,875 | +9715.7% |
| Amounts receivable within one year | 40/41 | - | €7,934 | +€7,934 | |
| Trade receivables | 40 | - | €7,934 | +€7,934 | |
| Cash at bank and in hand | 54/58 | €81 | €22 | -€59 | -73.1% |
| Total equity and liabilities | 10/49 | €289,237 | €286,611 | -€2,625 | -0.9% |
| Equity | 10/15 | -€50,662 | -€42,641 | +€8,021 | +15.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,662 | -€48,641 | +€8,021 | +14.2% |
| Amounts payable | 17/49 | €339,899 | €329,253 | -€10,646 | -3.1% |
| Amounts payable after more than one year | 17 | €285,412 | €254,241 | -€31,172 | -10.9% |
| Financial debts | 170/4 | €285,412 | €254,241 | -€31,172 | -10.9% |
| Amounts payable within one year | 42/48 | €54,487 | €75,012 | +€20,525 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | - | €15,916 | +€15,916 | |
| Trade debts | 44 | €6,844 | €9,503 | +€2,659 | +38.9% |
| Suppliers | 440/4 | €6,844 | €9,503 | +€2,659 | +38.9% |
| Other amounts payable | 47/48 | €47,642 | €49,592 | +€1,950 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,146 | €10,500 | -€36,646 | -77.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,957 | - | -€14,957 | |
| Other operating charges | 640/8 | €5,414 | €5,044 | -€371 | -6.8% |
| Gross operating margin | 9900 | €25,334 | €35,615 | +€10,281 | +40.6% |
| Operating profit (loss) | 9901 | -€42,183 | €20,071 | +€62,254 | |
| Financial charges | 65/66B | €14,479 | €12,050 | -€2,429 | -16.8% |
| Recurring financial charges | 65 | €14,479 | €12,050 | -€2,429 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€56,662 | €8,021 | +€64,683 | |
| Profit (loss) for the period | 9904 | -€56,662 | €8,021 | +€64,683 | |
| Profit (loss) for the period to be appropriated | 9905 | -€56,662 | €8,021 | +€64,683 |
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 28 September 2026 via checked.be.