Van Coetsem: 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.
Van Coetsem
Largest movements
- Receivables within one year -€72,052
down €72,052 (-87.5%), from €82,303 to €10,252
of which Other amounts receivable: -€62,604
- Stocks and contracts -€47,614
down €47,614 (-67.0%), from €71,033 to €23,419
- Cash +€13,981
up €13,981 (+57.3%), from €24,399 to €38,380
mainly Receivables within one year (+€72,052) and Stocks and contracts (+€47,614)
- Tangible fixed assets -€7,877
down €7,877 (-25.5%), from €30,858 to €22,981
- Contributions -€92,184
down €92,184 (-82.2%), from €112,184 to €20,000
- Profit (loss) carried forward -€37,380
down €37,380 (-2525.3%), from -€1,480 to -€38,860
- Other debts +€25,620
new in 2025: €25,620
- Debts after one year -€8,795
down €8,795 (-15.0%), from €58,820 to €50,025
of which Financial debts: -€8,795
- Write-downs +€35,129
new in 2025: €35,129
- Gross operating margin -€19,209
down €19,209 (-62.9%), from €30,548 to €11,338
- Financial income -€2,652
down €2,652 (-99.6%), from €2,662 to €11
- Financial charges +€576
up €576 (+29.2%), from €1,975 to €2,551
- Depreciation +€429
up €429 (+4.8%), from €8,998 to €9,427
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 | €210,089 | €96,088 | -€114,001 | -54.3% |
| Fixed assets | 21/28 | €30,858 | €22,981 | -€7,877 | -25.5% |
| Tangible fixed assets | 22/27 | €30,858 | €22,981 | -€7,877 | -25.5% |
| Furniture and vehicles | 24 | €30,858 | €22,981 | -€7,877 | -25.5% |
| Current assets | 29/58 | €179,231 | €73,107 | -€106,124 | -59.2% |
| Stocks and contracts in progress | 3 | €71,033 | €23,419 | -€47,614 | -67.0% |
| Stocks | 30/36 | €71,033 | €23,419 | -€47,614 | -67.0% |
| Amounts receivable within one year | 40/41 | €82,303 | €10,252 | -€72,052 | -87.5% |
| Trade receivables | 40 | €19,699 | €10,252 | -€9,447 | -48.0% |
| Other amounts receivable | 41 | €62,604 | €0 | -€62,604 | -100.0% |
| Cash at bank and in hand | 54/58 | €24,399 | €38,380 | +€13,981 | +57.3% |
| Deferred charges and accrued income | 490/1 | €1,496 | €1,056 | -€440 | -29.4% |
| Total equity and liabilities | 10/49 | €210,089 | €96,088 | -€114,001 | -54.3% |
| Equity | 10/15 | €134,204 | €4,640 | -€129,564 | -96.5% |
| Contributions | 10/11 | €112,184 | €20,000 | -€92,184 | -82.2% |
| Reserves | 13 | €23,500 | €23,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,500 | €23,500 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€1,480 | -€38,860 | -€37,380 | -2525.3% |
| Amounts payable | 17/49 | €75,885 | €91,447 | +€15,562 | +20.5% |
| Amounts payable after more than one year | 17 | €58,820 | €50,025 | -€8,795 | -15.0% |
| Financial debts | 170/4 | €25,020 | €16,225 | -€8,795 | -35.2% |
| Trade debts | 175 | €33,800 | €33,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,777 | €39,853 | +€23,076 | +137.5% |
| Current portion of amounts payable after more than one year | 42 | €8,465 | €8,795 | +€330 | +3.9% |
| Trade debts | 44 | €1,978 | €232 | -€1,746 | -88.3% |
| Suppliers | 440/4 | €1,978 | €232 | -€1,746 | -88.3% |
| Taxes, remuneration and social security | 45 | €6,334 | €5,206 | -€1,129 | -17.8% |
| Taxes | 450/3 | €6,334 | €5,206 | -€1,129 | -17.8% |
| Other amounts payable | 47/48 | - | €25,620 | +€25,620 | |
| Accrued charges and deferred income | 492/3 | €288 | €1,569 | +€1,282 | +445.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,998 | €9,427 | +€429 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,129 | +€35,129 | |
| Other operating charges | 640/8 | €1,423 | €1,468 | +€45 | +3.1% |
| Non-recurring operating charges | 66A | €552 | €0 | -€552 | -100.0% |
| Gross operating margin | 9900 | €30,548 | €11,338 | -€19,209 | -62.9% |
| Operating profit (loss) | 9901 | €19,575 | -€34,685 | -€54,259 | |
| Financial income | 75/76B | €2,662 | €11 | -€2,652 | -99.6% |
| Recurring financial income | 75 | €2,662 | €11 | -€2,652 | -99.6% |
| Financial charges | 65/66B | €1,975 | €2,551 | +€576 | +29.2% |
| Recurring financial charges | 65 | €1,975 | €2,551 | +€576 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €20,262 | -€37,225 | -€57,487 | |
| Income taxes | 67/77 | €127 | €154 | +€28 | +21.7% |
| Profit (loss) for the period | 9904 | €20,135 | -€37,380 | -€57,515 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,135 | -€37,380 | -€57,515 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.