't KOETSHUIS: 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.
't KOETSHUIS
Largest movements
- Tangible fixed assets -€299,625
down €299,625 (-53.7%), from €558,035 to €258,410
- Receivables within one year +€105,374
up €105,374 (+39.3%), from €268,029 to €373,403
of which Other amounts receivable: +€112,639
- Cash +€16,661
up €16,661 (+5.2%), from €317,710 to €334,372
mainly Investment in fixed assets (net) (+€278,522) and Depreciation (+€21,103)
- Current portion of long-term debt -€175,000
no longer reported in 2025 (was €175,000)
- Trade debts -€18,323
down €18,323 (-97.7%), from €18,755 to €433
- Reserves +€11,498
up €11,498 (+1.2%), from €931,248 to €942,746
of which Distributable reserves: +€11,498
- Other operating charges -€46,706
down €46,706 (-92.6%), from €50,423 to €3,717
- Depreciation -€23,020
down €23,020 (-52.2%), from €44,123 to €21,103
- Financial charges -€11,335
down €11,335 (-92.6%), from €12,234 to €899
- Financial income +€5,000
up €5,000 (+49.2%), from €10,163 to €15,163
- Taxes -€4,740
down €4,740 (-80.5%), from €5,890 to €1,150
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 | €1,145,456 | €966,185 | -€179,270 | -15.7% |
| Fixed assets | 21/28 | €558,035 | €258,410 | -€299,625 | -53.7% |
| Tangible fixed assets | 22/27 | €558,035 | €258,410 | -€299,625 | -53.7% |
| Land and buildings | 22 | €558,035 | €258,410 | -€299,625 | -53.7% |
| Current assets | 29/58 | €587,421 | €707,775 | +€120,354 | +20.5% |
| Amounts receivable within one year | 40/41 | €268,029 | €373,403 | +€105,374 | +39.3% |
| Trade receivables | 40 | €7,265 | - | -€7,265 | |
| Other amounts receivable | 41 | €260,764 | €373,403 | +€112,639 | +43.2% |
| Cash at bank and in hand | 54/58 | €317,710 | €334,372 | +€16,661 | +5.2% |
| Deferred charges and accrued income | 490/1 | €1,682 | - | -€1,682 | |
| Total equity and liabilities | 10/49 | €1,145,456 | €966,185 | -€179,270 | -15.7% |
| Equity | 10/15 | €931,248 | €942,746 | +€11,498 | +1.2% |
| Reserves | 13 | €931,248 | €942,746 | +€11,498 | +1.2% |
| Tax-exempt reserves | 132 | €71,889 | €71,889 | = | 0.0% |
| Distributable reserves | 133 | €859,359 | €870,857 | +€11,498 | +1.3% |
| Amounts payable | 17/49 | €214,208 | €23,439 | -€190,768 | -89.1% |
| Amounts payable within one year | 42/48 | €199,645 | €8,877 | -€190,768 | -95.6% |
| Current portion of amounts payable after more than one year | 42 | €175,000 | - | -€175,000 | |
| Trade debts | 44 | €18,755 | €433 | -€18,323 | -97.7% |
| Suppliers | 440/4 | €18,755 | €433 | -€18,323 | -97.7% |
| Taxes, remuneration and social security | 45 | €5,890 | €8,445 | +€2,555 | +43.4% |
| Taxes | 450/3 | €5,890 | €8,445 | +€2,555 | +43.4% |
| Accrued charges and deferred income | 492/3 | €14,562 | €14,562 | = | 0.0% |
| Non-recurring operating income | 76A | €82,744 | €39,090 | -€43,653 | -52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,123 | €21,103 | -€23,020 | -52.2% |
| Other operating charges | 640/8 | €50,423 | €3,717 | -€46,706 | -92.6% |
| Gross operating margin | 9900 | €22,162 | €23,204 | +€1,043 | +4.7% |
| Operating profit (loss) | 9901 | -€72,384 | -€1,615 | +€70,769 | +97.8% |
| Financial income | 75/76B | €10,163 | €15,163 | +€5,000 | +49.2% |
| Recurring financial income | 75 | €10,163 | €15,163 | +€5,000 | +49.2% |
| Financial charges | 65/66B | €12,234 | €899 | -€11,335 | -92.6% |
| Recurring financial charges | 65 | €12,234 | €899 | -€11,335 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | -€74,456 | €12,648 | +€87,103 | |
| Transfer from deferred taxes | 780 | €34,720 | - | -€34,720 | |
| Income taxes | 67/77 | €5,890 | €1,150 | -€4,740 | -80.5% |
| Profit (loss) for the period | 9904 | -€45,626 | €11,498 | +€57,124 | |
| Transfer from tax-exempt reserves | 789 | €104,605 | - | -€104,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,979 | €11,498 | -€47,481 | -80.5% |
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.