PAT COUCKE: 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.
PAT COUCKE
Largest movements
- Cash -€136,057
down €136,057 (-27.4%), from €496,585 to €360,527
mainly Contributions, distributions and other (-€350,854) and Debts after one year (-€12,960)
- Tangible fixed assets -€49,069
down €49,069 (-14.0%), from €351,630 to €302,562
of which Land and buildings: -€38,478
- Receivables within one year -€13,662
down €13,662 (-9.9%), from €138,171 to €124,508
- Reserves -€192,016
down €192,016 (-21.1%), from €912,148 to €720,132
- Debts after one year -€12,960
down €12,960 (-33.4%), from €38,830 to €25,870
- Gross operating margin +€63,021
up €63,021 (+28.3%), from €222,426 to €285,447
- Depreciation +€46,571
up €46,571 (+554%), from €8,409 to €54,980
- Taxes +€4,439
up €4,439 (+6.8%), from €65,764 to €70,203
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 | €992,736 | €788,947 | -€203,789 | -20.5% |
| Fixed assets | 21/28 | €352,980 | €303,912 | -€49,069 | -13.9% |
| Tangible fixed assets | 22/27 | €351,630 | €302,562 | -€49,069 | -14.0% |
| Land and buildings | 22 | €298,190 | €259,711 | -€38,478 | -12.9% |
| Plant, machinery and equipment | 23 | €976 | €3,332 | +€2,357 | +242% |
| Furniture and vehicles | 24 | €52,465 | €39,518 | -€12,948 | -24.7% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €639,755 | €485,036 | -€154,720 | -24.2% |
| Amounts receivable within one year | 40/41 | €138,171 | €124,508 | -€13,662 | -9.9% |
| Other amounts receivable | 41 | €138,171 | €124,508 | -€13,662 | -9.9% |
| Cash at bank and in hand | 54/58 | €496,585 | €360,527 | -€136,057 | -27.4% |
| Deferred charges and accrued income | 490/1 | €5,000 | €0 | -€5,000 | -100% |
| Total equity and liabilities | 10/49 | €992,736 | €788,947 | -€203,789 | -20.5% |
| Equity | 10/15 | €930,698 | €738,682 | -€192,016 | -20.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €912,148 | €720,132 | -€192,016 | -21.1% |
| Distributable reserves | 133 | €912,148 | €720,132 | -€192,016 | -21.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,037 | €50,265 | -€11,773 | -19.0% |
| Amounts payable after more than one year | 17 | €38,830 | €25,870 | -€12,960 | -33.4% |
| Financial debts | 170/4 | €38,830 | €25,870 | -€12,960 | -33.4% |
| Amounts payable within one year | 42/48 | €23,208 | €24,395 | +€1,187 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €12,604 | €12,960 | +€356 | +2.8% |
| Trade debts | 44 | €5,624 | €1,616 | -€4,008 | -71.3% |
| Suppliers | 440/4 | €5,624 | €1,616 | -€4,008 | -71.3% |
| Taxes, remuneration and social security | 45 | €4,980 | €9,819 | +€4,840 | +97.2% |
| Taxes | 450/3 | €4,980 | €9,819 | +€4,840 | +97.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,409 | €54,980 | +€46,571 | +554% |
| Other operating charges | 640/8 | €126 | €1,208 | +€1,082 | +859% |
| Gross operating margin | 9900 | €222,426 | €285,447 | +€63,021 | +28.3% |
| Operating profit (loss) | 9901 | €213,892 | €229,260 | +€15,368 | +7.2% |
| Financial income | 75/76B | €2,613 | €1,217 | -€1,396 | -53.4% |
| Recurring financial income | 75 | €2,613 | €1,217 | -€1,396 | -53.4% |
| Financial charges | 65/66B | €310 | €1,436 | +€1,126 | +363% |
| Recurring financial charges | 65 | €310 | €1,436 | +€1,126 | +363% |
| Profit (loss) for the period before taxes | 9903 | €216,195 | €229,041 | +€12,846 | +5.9% |
| Income taxes | 67/77 | €65,764 | €70,203 | +€4,439 | +6.8% |
| Profit (loss) for the period | 9904 | €150,432 | €158,838 | +€8,407 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €150,432 | €158,838 | +€8,407 | +5.6% |
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 27 October 2026 via checked.be.