PETER COESSENS: 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.
PETER COESSENS
Largest movements
- Tangible fixed assets -€335,430
down €335,430 (-48.6%), from €690,135 to €354,705
of which Land and buildings: -€329,224
- Current investments +€236,325
up €236,325 (+543.0%), from €43,523 to €279,848
- Cash +€76,033
up €76,033 (+142.9%), from €53,192 to €129,225
mainly Net result for the year (+€361,041) and Investment in fixed assets (net) (+€314,279)
- Receivables within one year +€40,450
up €40,450 (+67.8%), from €59,662 to €100,113
of which Trade receivables: +€38,643
- Other debts +€166,858
up €166,858 (+52.6%), from €317,115 to €483,973
- Reserves -€101,040
down €101,040 (-28.6%), from €353,721 to €252,681
- Debts after one year -€65,907
down €65,907 (-57.7%), from €114,218 to €48,311
- Current portion of long-term debt -€31,153
down €31,153 (-54.6%), from €57,021 to €25,868
- Tax, wage and social debts +€29,492
up €29,492 (+356.1%), from €8,282 to €37,774
- Financial income +€84,755
up €84,755 (+2542.5%), from €3,334 to €88,088
of which Non-recurring financial income: +€86,348
- Gross operating margin +€43,666
up €43,666 (+11.4%), from €384,571 to €428,237
- Taxes +€21,338
up €21,338 (+20.6%), from €103,360 to €124,698
- Depreciation -€11,778
down €11,778 (-35.8%), from €32,930 to €21,151
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 | €852,419 | €868,738 | +€16,319 | +1.9% |
| Fixed assets | 21/28 | €690,615 | €355,185 | -€335,430 | -48.6% |
| Tangible fixed assets | 22/27 | €690,135 | €354,705 | -€335,430 | -48.6% |
| Land and buildings | 22 | €658,823 | €329,599 | -€329,224 | -50.0% |
| Plant, machinery and equipment | 23 | €4,617 | €2,978 | -€1,638 | -35.5% |
| Furniture and vehicles | 24 | €24,395 | €19,828 | -€4,568 | -18.7% |
| Other tangible fixed assets | 26 | €2,300 | €2,300 | = | 0.0% |
| Financial fixed assets | 28 | €480 | €480 | = | 0.0% |
| Current assets | 29/58 | €161,804 | €513,553 | +€351,750 | +217.4% |
| Amounts receivable within one year | 40/41 | €59,662 | €100,113 | +€40,450 | +67.8% |
| Trade receivables | 40 | €59,662 | €98,305 | +€38,643 | +64.8% |
| Other amounts receivable | 41 | €0 | €1,808 | +€1,808 | |
| Current investments | 50/53 | €43,523 | €279,848 | +€236,325 | +543.0% |
| Cash at bank and in hand | 54/58 | €53,192 | €129,225 | +€76,033 | +142.9% |
| Deferred charges and accrued income | 490/1 | €5,426 | €4,367 | -€1,059 | -19.5% |
| Total equity and liabilities | 10/49 | €852,419 | €868,738 | +€16,319 | +1.9% |
| Equity | 10/15 | €355,581 | €254,541 | -€101,040 | -28.4% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €353,721 | €252,681 | -€101,040 | -28.6% |
| Tax-exempt reserves | 132 | €353,721 | €252,681 | -€101,040 | -28.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €496,837 | €614,197 | +€117,359 | +23.6% |
| Amounts payable after more than one year | 17 | €114,218 | €48,311 | -€65,907 | -57.7% |
| Financial debts | 170/4 | €114,218 | €48,311 | -€65,907 | -57.7% |
| Amounts payable within one year | 42/48 | €382,619 | €565,886 | +€183,267 | +47.9% |
| Current portion of amounts payable after more than one year | 42 | €57,021 | €25,868 | -€31,153 | -54.6% |
| Financial debts | 43 | - | €1,480 | +€1,480 | |
| Credit institutions | 430/8 | - | €1,480 | +€1,480 | |
| Trade debts | 44 | €201 | €16,791 | +€16,590 | +8259.3% |
| Suppliers | 440/4 | €201 | €16,791 | +€16,590 | +8259.3% |
| Taxes, remuneration and social security | 45 | €8,282 | €37,774 | +€29,492 | +356.1% |
| Taxes | 450/3 | €8,282 | €37,774 | +€29,492 | +356.1% |
| Other amounts payable | 47/48 | €317,115 | €483,973 | +€166,858 | +52.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,930 | €21,151 | -€11,778 | -35.8% |
| Other operating charges | 640/8 | €6,190 | €5,847 | -€343 | -5.5% |
| Gross operating margin | 9900 | €384,571 | €428,237 | +€43,666 | +11.4% |
| Operating profit (loss) | 9901 | €345,451 | €401,239 | +€55,788 | +16.1% |
| Financial income | 75/76B | €3,334 | €88,088 | +€84,755 | +2542.5% |
| Recurring financial income | 75 | €3,334 | €1,740 | -€1,594 | -47.8% |
| Non-recurring financial income | 76B | - | €86,348 | +€86,348 | |
| Financial charges | 65/66B | €3,097 | €3,588 | +€491 | +15.8% |
| Recurring financial charges | 65 | €3,097 | €3,588 | +€491 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €345,688 | €485,739 | +€140,052 | +40.5% |
| Income taxes | 67/77 | €103,360 | €124,698 | +€21,338 | +20.6% |
| Profit (loss) for the period | 9904 | €242,328 | €361,041 | +€118,713 | +49.0% |
| Transfer from tax-exempt reserves | 789 | €63,150 | €227,340 | +€164,190 | +260.0% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €126,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,178 | €462,081 | +€282,903 | +157.9% |
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 2 October 2026 via checked.be.