WOUTER COENEN: 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.
WOUTER COENEN
Largest movements
- Cash -€24,023
down €24,023 (-36.4%), from €65,911 to €41,888
mainly Receivables after one year (-€20,000) and Tax, wage and social debts (-€11,971)
- Receivables after one year +€20,000
up €20,000 (+37.0%), from €54,000 to €74,000
- Tangible fixed assets -€6,346
down €6,346 (-22.1%), from €28,651 to €22,306
of which Furniture and vehicles: -€6,098
- Tax, wage and social debts -€11,971
down €11,971 (-89.9%), from €13,308 to €1,338
of which Taxes: -€11,971
- Reserves -€7,609
down €7,609 (-4.9%), from €154,513 to €146,904
- Advances received +€6,534
new in 2025: €6,534
- Gross operating margin -€76,977
down €76,977 (-93.2%), from €82,562 to €5,585
- Taxes -€18,357
down €18,357 (-96.7%), from €18,992 to €635
- Depreciation +€4,400
up €4,400 (+90.3%), from €4,871 to €9,271
- Financial charges -€972
down €972 (-19.0%), from €5,127 to €4,155
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 | €171,165 | €158,997 | -€12,167 | -7.1% |
| Fixed assets | 21/28 | €28,651 | €22,306 | -€6,346 | -22.1% |
| Tangible fixed assets | 22/27 | €28,651 | €22,306 | -€6,346 | -22.1% |
| Land and buildings | 22 | €2,035 | €1,787 | -€248 | -12.2% |
| Furniture and vehicles | 24 | €26,616 | €20,518 | -€6,098 | -22.9% |
| Current assets | 29/58 | €142,513 | €136,692 | -€5,822 | -4.1% |
| Amounts receivable after more than one year | 29 | €54,000 | €74,000 | +€20,000 | +37.0% |
| Other amounts receivable | 291 | €54,000 | €74,000 | +€20,000 | +37.0% |
| Amounts receivable within one year | 40/41 | €21,797 | €20,410 | -€1,387 | -6.4% |
| Trade receivables | 40 | €13,794 | €5,400 | -€8,394 | -60.9% |
| Other amounts receivable | 41 | €8,003 | €15,010 | +€7,007 | +87.6% |
| Cash at bank and in hand | 54/58 | €65,911 | €41,888 | -€24,023 | -36.4% |
| Deferred charges and accrued income | 490/1 | €805 | €394 | -€412 | -51.1% |
| Total equity and liabilities | 10/49 | €171,165 | €158,997 | -€12,167 | -7.1% |
| Equity | 10/15 | €157,013 | €149,404 | -€7,609 | -4.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €154,513 | €146,904 | -€7,609 | -4.9% |
| Distributable reserves | 133 | €154,513 | €146,904 | -€7,609 | -4.9% |
| Amounts payable | 17/49 | €14,151 | €9,593 | -€4,558 | -32.2% |
| Amounts payable within one year | 42/48 | €14,151 | €9,593 | -€4,558 | -32.2% |
| Trade debts | 44 | €843 | €400 | -€443 | -52.5% |
| Suppliers | 440/4 | €843 | €400 | -€443 | -52.5% |
| Advances received on contracts in progress | 46 | - | €6,534 | +€6,534 | |
| Taxes, remuneration and social security | 45 | €13,308 | €1,338 | -€11,971 | -89.9% |
| Taxes | 450/3 | €12,038 | €68 | -€11,971 | -99.4% |
| Remuneration and social security | 454/9 | €1,270 | €1,270 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €1,322 | +€1,322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,871 | €9,271 | +€4,400 | +90.3% |
| Other operating charges | 640/8 | €1,978 | €1,702 | -€276 | -14.0% |
| Gross operating margin | 9900 | €82,562 | €5,585 | -€76,977 | -93.2% |
| Operating profit (loss) | 9901 | €75,712 | -€5,388 | -€81,100 | |
| Financial income | 75/76B | €2,202 | €2,569 | +€367 | +16.7% |
| Recurring financial income | 75 | €2,202 | €2,569 | +€367 | +16.7% |
| Financial charges | 65/66B | €5,127 | €4,155 | -€972 | -19.0% |
| Recurring financial charges | 65 | €5,127 | €4,155 | -€972 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €72,787 | -€6,974 | -€79,762 | |
| Income taxes | 67/77 | €18,992 | €635 | -€18,357 | -96.7% |
| Profit (loss) for the period | 9904 | €53,795 | -€7,609 | -€61,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,795 | -€7,609 | -€61,405 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.