P. DE COCK: 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. DE COCK
Largest movements
- Tangible fixed assets -€16,409
down €16,409 (-5.9%), from €278,238 to €261,829
of which Land and buildings: -€16,211
- Debts after one year -€30,922
down €30,922 (-31.8%), from €97,340 to €66,418
- Reserves +€11,929
up €11,929 (+320%), from €3,731 to €15,660
- Tax, wage and social debts +€4,577
up €4,577 (+121%), from €3,782 to €8,359
- Current portion of long-term debt -€4,543
down €4,543 (-12.8%), from €35,562 to €31,019
- Other debts +€4,520
up €4,520 (+9.1%), from €49,761 to €54,281
- Taxes +€1,634
up €1,634 (+56.2%), from €2,909 to €4,543
- Other operating charges -€1,474
down €1,474 (-30.2%), from €4,876 to €3,402
- Gross operating margin -€1,256
down €1,256 (-2.8%), from €44,177 to €42,921
- Financial charges -€501
down €501 (-7.0%), from €7,139 to €6,638
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 | €285,851 | €271,237 | -€14,614 | -5.1% |
| Fixed assets | 21/28 | €278,238 | €261,829 | -€16,409 | -5.9% |
| Tangible fixed assets | 22/27 | €278,238 | €261,829 | -€16,409 | -5.9% |
| Land and buildings | 22 | €278,040 | €261,829 | -€16,211 | -5.8% |
| Plant, machinery and equipment | 23 | €55 | - | -€55 | |
| Furniture and vehicles | 24 | €143 | - | -€143 | |
| Current assets | 29/58 | €7,613 | €9,408 | +€1,795 | +23.6% |
| Cash at bank and in hand | 54/58 | €6,867 | €8,596 | +€1,729 | +25.2% |
| Deferred charges and accrued income | 490/1 | €746 | €812 | +€66 | +8.8% |
| Total equity and liabilities | 10/49 | €285,851 | €271,237 | -€14,614 | -5.1% |
| Equity | 10/15 | €98,031 | €109,960 | +€11,929 | +12.2% |
| Contributions | 10/11 | €94,300 | €94,300 | = | 0.0% |
| Contributions outside capital | 11 | €94,300 | €94,300 | = | 0.0% |
| Other | 1109/19 | €94,300 | €94,300 | = | 0.0% |
| Reserves | 13 | €3,731 | €15,660 | +€11,929 | +320% |
| Distributable reserves | 133 | €3,731 | €15,660 | +€11,929 | +320% |
| Amounts payable | 17/49 | €187,820 | €161,277 | -€26,543 | -14.1% |
| Amounts payable after more than one year | 17 | €97,340 | €66,418 | -€30,922 | -31.8% |
| Financial debts | 170/4 | €97,340 | €66,418 | -€30,922 | -31.8% |
| Amounts payable within one year | 42/48 | €89,105 | €93,659 | +€4,554 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €35,562 | €31,019 | -€4,543 | -12.8% |
| Taxes, remuneration and social security | 45 | €3,782 | €8,359 | +€4,577 | +121% |
| Taxes | 450/3 | €3,782 | €8,359 | +€4,577 | +121% |
| Other amounts payable | 47/48 | €49,761 | €54,281 | +€4,520 | +9.1% |
| Accrued charges and deferred income | 492/3 | €1,375 | €1,200 | -€175 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,409 | €16,409 | = | 0.0% |
| Other operating charges | 640/8 | €4,876 | €3,402 | -€1,474 | -30.2% |
| Gross operating margin | 9900 | €44,177 | €42,921 | -€1,256 | -2.8% |
| Operating profit (loss) | 9901 | €22,892 | €23,110 | +€218 | +1.0% |
| Financial charges | 65/66B | €7,139 | €6,638 | -€501 | -7.0% |
| Recurring financial charges | 65 | €7,139 | €6,638 | -€501 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €15,753 | €16,472 | +€719 | +4.6% |
| Income taxes | 67/77 | €2,909 | €4,543 | +€1,634 | +56.2% |
| Profit (loss) for the period | 9904 | €12,844 | €11,929 | -€915 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,844 | €11,929 | -€915 | -7.1% |
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 23 October 2026 via checked.be.