CO-CREATE: what changed
CO-CREATE
Largest movements
- Financial fixed assets -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets +€134,421
up €134,421 (+1,319%), from €10,195 to €144,616
of which Furniture and vehicles: +€134,668
- Cash +€100,373
up €100,373 (+1,914%), from €5,245 to €105,618
mainly Net result for the year (+€120,259) and Other debts (+€81,506)
- Receivables within one year +€12,480
up €12,480 (+30.4%), from €41,039 to €53,519
of which Trade receivables: +€9,361
- Other debts +€81,506
up €81,506 (+205%), from €39,803 to €121,309
- Current portion of long-term debt +€24,708
new in 2025: €24,708
- Debts after one year -€4,489
down €4,489 (-3.1%), from €143,689 to €139,199
of which Other amounts payable: -€103,714
- Financial income +€136,019
new in 2025: €136,019
- Taxes +€28,655
up €28,655 (+307%), from €9,342 to €37,997
- Depreciation +€8,945
up €8,945 (+102%), from €8,733 to €17,678
- Gross operating margin +€1,357
up €1,357 (+3.0%), from €45,442 to €46,799
- Other operating charges +€716
up €716 (+63.9%), from €1,121 to €1,837
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,797 | €307,696 | +€98,898 | +47.4% |
| Fixed assets | 21/28 | €160,195 | €144,616 | -€15,579 | -9.7% |
| Tangible fixed assets | 22/27 | €10,195 | €144,616 | +€134,421 | +1,319% |
| Plant, machinery and equipment | 23 | €462 | €215 | -€247 | -53.4% |
| Furniture and vehicles | 24 | €9,733 | €144,401 | +€134,668 | +1,384% |
| Financial fixed assets | 28 | €150,000 | - | -€150,000 | |
| Current assets | 29/58 | €48,602 | €163,080 | +€114,477 | +236% |
| Amounts receivable within one year | 40/41 | €41,039 | €53,519 | +€12,480 | +30.4% |
| Trade receivables | 40 | €40,792 | €50,153 | +€9,361 | +22.9% |
| Other amounts receivable | 41 | €247 | €3,366 | +€3,119 | +1,263% |
| Cash at bank and in hand | 54/58 | €5,245 | €105,618 | +€100,373 | +1,914% |
| Deferred charges and accrued income | 490/1 | €2,318 | €3,942 | +€1,624 | +70.1% |
| Total equity and liabilities | 10/49 | €208,797 | €307,696 | +€98,898 | +47.4% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €190,197 | €289,096 | +€98,898 | +52.0% |
| Amounts payable after more than one year | 17 | €143,689 | €139,199 | -€4,489 | -3.1% |
| Financial debts | 170/4 | - | €99,225 | +€99,225 | |
| Other amounts payable | 178/9 | €143,689 | €39,974 | -€103,714 | -72.2% |
| Amounts payable within one year | 42/48 | €45,465 | €148,975 | +€103,510 | +228% |
| Current portion of amounts payable after more than one year | 42 | - | €24,708 | +€24,708 | |
| Trade debts | 44 | €1,172 | €312 | -€860 | -73.4% |
| Suppliers | 440/4 | €1,172 | €312 | -€860 | -73.4% |
| Taxes, remuneration and social security | 45 | €4,489 | €2,645 | -€1,844 | -41.1% |
| Taxes | 450/3 | €4,489 | €2,645 | -€1,844 | -41.1% |
| Other amounts payable | 47/48 | €39,803 | €121,309 | +€81,506 | +205% |
| Accrued charges and deferred income | 492/3 | €1,044 | €922 | -€122 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,733 | €17,678 | +€8,945 | +102% |
| Other operating charges | 640/8 | €1,121 | €1,837 | +€716 | +63.9% |
| Gross operating margin | 9900 | €45,442 | €46,799 | +€1,357 | +3.0% |
| Operating profit (loss) | 9901 | €35,588 | €27,283 | -€8,305 | -23.3% |
| Financial income | 75/76B | - | €136,019 | +€136,019 | |
| Recurring financial income | 75 | - | €136,019 | +€136,019 | |
| Financial charges | 65/66B | €5,044 | €5,046 | +€2 | 0.0% |
| Recurring financial charges | 65 | €5,044 | €5,046 | +€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €30,545 | €158,257 | +€127,712 | +418% |
| Income taxes | 67/77 | €9,342 | €37,997 | +€28,655 | +307% |
| Profit (loss) for the period | 9904 | €21,203 | €120,259 | +€99,056 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €21,203 | €120,259 | +€99,056 | +467% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.