P. COONEN: 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.
P. COONEN
Largest movements
- Tangible fixed assets -€15,768
down €15,768 (-34.8%), from €45,300 to €29,532
of which Furniture and vehicles: -€15,263
- Receivables after one year -€6,250
down €6,250 (-7.2%), from €86,250 to €80,000
- Receivables within one year -€5,836
down €5,836 (-22.1%), from €26,401 to €20,566
of which Trade receivables: -€6,399
- Cash -€4,543
no longer reported in 2025 (was €4,543)
mainly Other debts (-€30,610) and Net result for the year (-€10,509)
- Other debts -€30,610
no longer reported in 2025 (was €30,610)
- Profit (loss) carried forward -€10,509
down €10,509 (-7.1%), from €147,602 to €137,093
- Short-term financial debts +€4,568
up €4,568 (+261%), from €1,750 to €6,319
- Tax, wage and social debts +€4,185
up €4,185 (+62.5%), from €6,694 to €10,879
of which Taxes: +€2,759
- Gross operating margin +€9,000
up €9,000 (+30.7%), from €29,347 to €38,347
- Depreciation +€6,865
up €6,865 (+77.1%), from €8,903 to €15,768
- Taxes -€4,851
down €4,851 (-96.8%), from €5,010 to €159
- Financial income -€3,210
down €3,210 (-56.3%), from €5,706 to €2,496
- Staff costs +€2,964
up €2,964 (+9.7%), from €30,483 to €33,448
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 | €341,820 | €309,631 | -€32,188 | -9.4% |
| Fixed assets | 21/28 | €223,769 | €208,001 | -€15,768 | -7.0% |
| Tangible fixed assets | 22/27 | €45,300 | €29,532 | -€15,768 | -34.8% |
| Plant, machinery and equipment | 23 | €1,519 | €1,014 | -€505 | -33.3% |
| Furniture and vehicles | 24 | €43,782 | €28,519 | -€15,263 | -34.9% |
| Financial fixed assets | 28 | €178,468 | €178,468 | = | 0.0% |
| Current assets | 29/58 | €118,051 | €101,631 | -€16,420 | -13.9% |
| Amounts receivable after more than one year | 29 | €86,250 | €80,000 | -€6,250 | -7.2% |
| Other amounts receivable | 291 | €86,250 | €80,000 | -€6,250 | -7.2% |
| Amounts receivable within one year | 40/41 | €26,401 | €20,566 | -€5,836 | -22.1% |
| Trade receivables | 40 | €26,401 | €20,003 | -€6,399 | -24.2% |
| Other amounts receivable | 41 | - | €563 | +€563 | |
| Cash at bank and in hand | 54/58 | €4,543 | - | -€4,543 | |
| Deferred charges and accrued income | 490/1 | €857 | €1,065 | +€209 | +24.3% |
| Total equity and liabilities | 10/49 | €341,820 | €309,631 | -€32,188 | -9.4% |
| Equity | 10/15 | €293,143 | €282,633 | -€10,509 | -3.6% |
| Contributions | 10/11 | €14,879 | €14,879 | = | 0.0% |
| Reserves | 13 | €130,661 | €130,661 | = | 0.0% |
| Distributable reserves | 133 | €130,661 | €130,661 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,602 | €137,093 | -€10,509 | -7.1% |
| Amounts payable | 17/49 | €48,677 | €26,998 | -€21,679 | -44.5% |
| Amounts payable within one year | 42/48 | €48,677 | €26,998 | -€21,679 | -44.5% |
| Current portion of amounts payable after more than one year | 42 | €671 | - | -€671 | |
| Financial debts | 43 | €1,750 | €6,319 | +€4,568 | +261% |
| Credit institutions | 430/8 | €1,750 | €6,319 | +€4,568 | +261% |
| Trade debts | 44 | €8,952 | €9,801 | +€849 | +9.5% |
| Suppliers | 440/4 | €8,952 | €9,801 | +€849 | +9.5% |
| Taxes, remuneration and social security | 45 | €6,694 | €10,879 | +€4,185 | +62.5% |
| Taxes | 450/3 | €2,231 | €4,990 | +€2,759 | +124% |
| Remuneration and social security | 454/9 | €4,463 | €5,889 | +€1,426 | +32.0% |
| Other amounts payable | 47/48 | €30,610 | - | -€30,610 | |
| Non-recurring operating income | 76A | €13,066 | - | -€13,066 | |
| Remuneration, social security and pensions | 62 | €30,483 | €33,448 | +€2,964 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,903 | €15,768 | +€6,865 | +77.1% |
| Other operating charges | 640/8 | €1,123 | €1,269 | +€145 | +12.9% |
| Gross operating margin | 9900 | €29,347 | €38,347 | +€9,000 | +30.7% |
| Operating profit (loss) | 9901 | -€11,163 | -€12,137 | -€974 | -8.7% |
| Financial income | 75/76B | €5,706 | €2,496 | -€3,210 | -56.3% |
| Recurring financial income | 75 | €5,706 | €2,496 | -€3,210 | -56.3% |
| Financial charges | 65/66B | €1,180 | €710 | -€470 | -39.8% |
| Recurring financial charges | 65 | €1,180 | €710 | -€470 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,637 | -€10,350 | -€3,714 | -56.0% |
| Income taxes | 67/77 | €5,010 | €159 | -€4,851 | -96.8% |
| Profit (loss) for the period | 9904 | -€11,646 | -€10,509 | +€1,137 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,646 | -€10,509 | +€1,137 | +9.8% |
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 20 October 2026 via checked.be.