Thomas Couckuyt: 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.
Thomas Couckuyt
Largest movements
- Tangible fixed assets +€53,270
up €53,270 (+169%), from €31,500 to €84,770
of which Leasing and similar rights: +€45,394
- Cash +€26,959
up €26,959 (+69.8%), from €38,613 to €65,572
mainly Net result for the year (+€55,759) and Debts after one year (+€30,064)
- Receivables within one year -€21,920
down €21,920 (-44.5%), from €49,240 to €27,319
of which Other amounts receivable: -€12,703
- Debts after one year +€30,064
new in 2025: €30,064
- Trade debts +€23,924
up €23,924 (+6,365%), from €376 to €24,300
- Reserves -€19,241
down €19,241 (-17.6%), from €109,022 to €89,782
- Short-term financial debts +€8,337
up €8,337 (+246%), from €3,384 to €11,721
- Current portion of long-term debt +€8,148
new in 2025: €8,148
- Gross operating margin +€43,548
up €43,548 (+73.1%), from €59,591 to €103,138
- Taxes +€15,574
up €15,574 (+144%), from €10,820 to €26,394
- Depreciation +€12,074
up €12,074 (+324%), from €3,731 to €15,805
- Other operating charges +€2,952
up €2,952 (+513%), from €575 to €3,527
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 | €122,252 | €180,744 | +€58,492 | +47.8% |
| Fixed assets | 21/28 | €31,500 | €84,770 | +€53,270 | +169% |
| Tangible fixed assets | 22/27 | €31,500 | €84,770 | +€53,270 | +169% |
| Plant, machinery and equipment | 23 | €17,801 | €27,123 | +€9,322 | +52.4% |
| Furniture and vehicles | 24 | €13,698 | €12,253 | -€1,445 | -10.6% |
| Leasing and similar rights | 25 | - | €45,394 | +€45,394 | |
| Current assets | 29/58 | €90,752 | €95,974 | +€5,222 | +5.8% |
| Amounts receivable within one year | 40/41 | €49,240 | €27,319 | -€21,920 | -44.5% |
| Trade receivables | 40 | €29,183 | €19,965 | -€9,218 | -31.6% |
| Other amounts receivable | 41 | €20,057 | €7,354 | -€12,703 | -63.3% |
| Current investments | 50/53 | €1,972 | €2,702 | +€730 | +37.0% |
| Cash at bank and in hand | 54/58 | €38,613 | €65,572 | +€26,959 | +69.8% |
| Deferred charges and accrued income | 490/1 | €927 | €381 | -€546 | -58.9% |
| Total equity and liabilities | 10/49 | €122,252 | €180,744 | +€58,492 | +47.8% |
| Equity | 10/15 | €112,022 | €92,782 | -€19,241 | -17.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €109,022 | €89,782 | -€19,241 | -17.6% |
| Distributable reserves | 133 | €109,022 | €89,782 | -€19,241 | -17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,230 | €87,963 | +€77,733 | +760% |
| Amounts payable after more than one year | 17 | - | €30,064 | +€30,064 | |
| Financial debts | 170/4 | - | €30,064 | +€30,064 | |
| Amounts payable within one year | 42/48 | €10,212 | €56,878 | +€46,666 | +457% |
| Current portion of amounts payable after more than one year | 42 | - | €8,148 | +€8,148 | |
| Financial debts | 43 | €3,384 | €11,721 | +€8,337 | +246% |
| Credit institutions | 430/8 | €3,384 | €11,721 | +€8,337 | +246% |
| Trade debts | 44 | €376 | €24,300 | +€23,924 | +6,365% |
| Suppliers | 440/4 | €376 | €24,300 | +€23,924 | +6,365% |
| Taxes, remuneration and social security | 45 | €6,452 | €12,710 | +€6,258 | +97.0% |
| Taxes | 450/3 | €6,452 | €10,939 | +€4,487 | +69.5% |
| Remuneration and social security | 454/9 | - | €1,771 | +€1,771 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €18 | €1,021 | +€1,003 | +5,665% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,731 | €15,805 | +€12,074 | +324% |
| Other operating charges | 640/8 | €575 | €3,527 | +€2,952 | +513% |
| Gross operating margin | 9900 | €59,591 | €103,138 | +€43,548 | +73.1% |
| Operating profit (loss) | 9901 | €55,285 | €83,806 | +€28,522 | +51.6% |
| Financial income | 75/76B | €699 | €381 | -€318 | -45.5% |
| Recurring financial income | 75 | €699 | €381 | -€318 | -45.5% |
| Financial charges | 65/66B | €1,534 | €2,034 | +€500 | +32.6% |
| Recurring financial charges | 65 | €1,534 | €2,034 | +€500 | +32.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €54,450 | €82,153 | +€27,704 | +50.9% |
| Income taxes | 67/77 | €10,820 | €26,394 | +€15,574 | +144% |
| Profit (loss) for the period | 9904 | €43,630 | €55,759 | +€12,130 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,630 | €55,759 | +€12,130 | +27.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.