Team Koers: 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.
Team Koers
Largest movements
- Receivables within one year -€30,157
down €30,157 (-33.9%), from €89,039 to €58,883
of which Trade receivables: -€25,352
- Current investments -€20,580
down €20,580 (-51.2%), from €40,174 to €19,594
- Cash -€5,115
down €5,115 (-55.8%), from €9,166 to €4,051
mainly Trade debts (-€26,666) and Accrued charges and deferred income (-€20,680)
- Intangible fixed assets +€3,162
up €3,162 (+77.5%), from €4,082 to €7,243
- Trade debts -€26,666
down €26,666 (-35.7%), from €74,657 to €47,991
- Accrued charges and deferred income -€20,680
no longer reported in 2025 (was €20,680)
- Reserves -€6,589
down €6,589 (-14.5%), from €45,589 to €39,000
- Tax, wage and social debts +€1,897
new in 2025: €1,897
- Gross operating margin -€12,147
down €12,147, from €9,773 to -€2,374
- Taxes -€2,415
down €2,415 (-99.9%), from €2,417 to €2
- Depreciation +€1,112
up €1,112 (+87.1%), from €1,277 to €2,389
- Other operating charges +€420
up €420 (+31.4%), from €1,335 to €1,755
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 | €147,583 | €95,917 | -€51,665 | -35.0% |
| Fixed assets | 21/28 | €9,082 | €12,243 | +€3,162 | +34.8% |
| Intangible fixed assets | 21 | €4,082 | €7,243 | +€3,162 | +77.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €138,501 | €83,674 | -€54,827 | -39.6% |
| Amounts receivable within one year | 40/41 | €89,039 | €58,883 | -€30,157 | -33.9% |
| Trade receivables | 40 | €83,969 | €58,617 | -€25,352 | -30.2% |
| Other amounts receivable | 41 | €5,070 | €266 | -€4,804 | -94.8% |
| Current investments | 50/53 | €40,174 | €19,594 | -€20,580 | -51.2% |
| Cash at bank and in hand | 54/58 | €9,166 | €4,051 | -€5,115 | -55.8% |
| Deferred charges and accrued income | 490/1 | €122 | €1,146 | +€1,024 | +843% |
| Total equity and liabilities | 10/49 | €147,583 | €95,917 | -€51,665 | -35.0% |
| Equity | 10/15 | €51,589 | €45,000 | -€6,589 | -12.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €45,589 | €39,000 | -€6,589 | -14.5% |
| Distributable reserves | 133 | €45,589 | €39,000 | -€6,589 | -14.5% |
| Amounts payable | 17/49 | €95,994 | €50,917 | -€45,077 | -47.0% |
| Amounts payable within one year | 42/48 | €75,314 | €50,917 | -€24,397 | -32.4% |
| Financial debts | 43 | €152 | €281 | +€129 | +85.3% |
| Credit institutions | 430/8 | €152 | €281 | +€129 | +85.3% |
| Trade debts | 44 | €74,657 | €47,991 | -€26,666 | -35.7% |
| Suppliers | 440/4 | €74,657 | €47,991 | -€26,666 | -35.7% |
| Taxes, remuneration and social security | 45 | - | €1,897 | +€1,897 | |
| Taxes | 450/3 | - | €1,897 | +€1,897 | |
| Other amounts payable | 47/48 | €505 | €748 | +€243 | +48.1% |
| Accrued charges and deferred income | 492/3 | €20,680 | - | -€20,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,277 | €2,389 | +€1,112 | +87.1% |
| Other operating charges | 640/8 | €1,335 | €1,755 | +€420 | +31.4% |
| Gross operating margin | 9900 | €9,773 | -€2,374 | -€12,147 | |
| Operating profit (loss) | 9901 | €7,161 | -€6,518 | -€13,679 | |
| Financial income | 75/76B | €159 | €166 | +€7 | +4.7% |
| Recurring financial income | 75 | €159 | €166 | +€7 | +4.7% |
| Financial charges | 65/66B | €229 | €235 | +€6 | +2.4% |
| Recurring financial charges | 65 | €229 | €235 | +€6 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €7,090 | -€6,587 | -€13,677 | |
| Income taxes | 67/77 | €2,417 | €2 | -€2,415 | -99.9% |
| Profit (loss) for the period | 9904 | €4,674 | -€6,589 | -€11,262 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,674 | -€6,589 | -€11,262 |
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 21 October 2026 via checked.be.