VOYAGES DE COLNET: 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.
VOYAGES DE COLNET
Largest movements
- Tangible fixed assets +€163,877
up €163,877 (+19.1%), from €859,090 to €1.0m
of which Furniture and vehicles: +€187,103
- Current investments -€119,346
down €119,346 (-61.0%), from €195,706 to €76,359
- Cash +€91,087
up €91,087 (+166%), from €55,026 to €146,113
mainly Depreciation (+€212,732) and Current investments (+€119,346)
- Receivables within one year -€15,004
down €15,004 (-13.4%), from €111,621 to €96,617
of which Trade receivables: -€17,089
- Deferred charges and accrued income -€13,639
down €13,639 (-50.8%), from €26,828 to €13,189
- Reserves +€73,233
up €73,233 (+23.0%), from €317,835 to €391,068
of which Distributable reserves: +€105,233
- Debts after one year +€37,353
up €37,353 (+19.7%), from €189,155 to €226,509
- Current portion of long-term debt +€24,472
up €24,472 (+32.3%), from €75,647 to €100,119
- Other debts -€16,930
down €16,930 (-10.2%), from €165,590 to €148,660
- Tax, wage and social debts +€14,604
up €14,604 (+64.5%), from €22,635 to €37,238
of which Remuneration and social security: +€14,842
- Gross operating margin -€96,948
down €96,948 (-16.3%), from €594,144 to €497,196
- Depreciation +€61,425
up €61,425 (+40.6%), from €151,307 to €212,732
- Staff costs +€52,527
up €52,527 (+52.4%), from €100,209 to €152,736
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 | €1,248,272 | €1,355,246 | +€106,974 | +8.6% |
| Fixed assets | 21/28 | €859,090 | €1,022,967 | +€163,877 | +19.1% |
| Tangible fixed assets | 22/27 | €859,090 | €1,022,967 | +€163,877 | +19.1% |
| Land and buildings | 22 | €233,334 | €210,767 | -€22,567 | -9.7% |
| Plant, machinery and equipment | 23 | €5,003 | €4,344 | -€659 | -13.2% |
| Furniture and vehicles | 24 | €620,753 | €807,856 | +€187,103 | +30.1% |
| Current assets | 29/58 | €389,182 | €332,279 | -€56,903 | -14.6% |
| Amounts receivable within one year | 40/41 | €111,621 | €96,617 | -€15,004 | -13.4% |
| Trade receivables | 40 | €109,644 | €92,554 | -€17,089 | -15.6% |
| Other amounts receivable | 41 | €1,978 | €4,062 | +€2,085 | +105% |
| Current investments | 50/53 | €195,706 | €76,359 | -€119,346 | -61.0% |
| Cash at bank and in hand | 54/58 | €55,026 | €146,113 | +€91,087 | +166% |
| Deferred charges and accrued income | 490/1 | €26,828 | €13,189 | -€13,639 | -50.8% |
| Total equity and liabilities | 10/49 | €1,248,272 | €1,355,246 | +€106,974 | +8.6% |
| Equity | 10/15 | €689,144 | €762,376 | +€73,233 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €317,835 | €391,068 | +€73,233 | +23.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €132,889 | €100,889 | -€32,000 | -24.1% |
| Distributable reserves | 133 | €183,086 | €288,319 | +€105,233 | +57.5% |
| Profit (loss) carried forward | 14 | €352,709 | €352,709 | = | 0.0% |
| Amounts payable | 17/49 | €559,129 | €592,870 | +€33,741 | +6.0% |
| Amounts payable after more than one year | 17 | €189,155 | €226,509 | +€37,353 | +19.7% |
| Financial debts | 170/4 | €189,155 | €226,509 | +€37,353 | +19.7% |
| Amounts payable within one year | 42/48 | €323,603 | €332,733 | +€9,130 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €75,647 | €100,119 | +€24,472 | +32.3% |
| Trade debts | 44 | €56,731 | €45,145 | -€11,586 | -20.4% |
| Suppliers | 440/4 | €56,731 | €45,145 | -€11,586 | -20.4% |
| Advances received on contracts in progress | 46 | €3,000 | €1,570 | -€1,430 | -47.7% |
| Taxes, remuneration and social security | 45 | €22,635 | €37,238 | +€14,604 | +64.5% |
| Taxes | 450/3 | €10,197 | €9,959 | -€238 | -2.3% |
| Remuneration and social security | 454/9 | €12,438 | €27,279 | +€14,842 | +119% |
| Other amounts payable | 47/48 | €165,590 | €148,660 | -€16,930 | -10.2% |
| Accrued charges and deferred income | 492/3 | €46,370 | €33,628 | -€12,742 | -27.5% |
| Non-recurring operating income | 76A | €165,449 | €11,922 | -€153,527 | -92.8% |
| Remuneration, social security and pensions | 62 | €100,209 | €152,736 | +€52,527 | +52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,307 | €212,732 | +€61,425 | +40.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €730 | +€730 | |
| Other operating charges | 640/8 | €12,014 | €13,459 | +€1,445 | +12.0% |
| Gross operating margin | 9900 | €594,144 | €497,196 | -€96,948 | -16.3% |
| Operating profit (loss) | 9901 | €330,615 | €117,539 | -€213,076 | -64.4% |
| Financial income | 75/76B | €3,249 | €745 | -€2,504 | -77.1% |
| Recurring financial income | 75 | €3,249 | €745 | -€2,504 | -77.1% |
| Financial charges | 65/66B | €14,266 | €13,904 | -€363 | -2.5% |
| Recurring financial charges | 65 | €14,266 | €13,904 | -€363 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €319,597 | €104,380 | -€215,217 | -67.3% |
| Income taxes | 67/77 | €36,619 | €31,147 | -€5,472 | -14.9% |
| Profit (loss) for the period | 9904 | €282,978 | €73,233 | -€209,745 | -74.1% |
| Transfer from tax-exempt reserves | 789 | €27,111 | €32,000 | +€4,889 | +18.0% |
| Transfer to tax-exempt reserves | 689 | €160,000 | - | -€160,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €150,089 | €105,233 | -€44,856 | -29.9% |
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 30 October 2026 via checked.be.