C.O.T.: 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.
C.O.T.
Largest movements
- Receivables within one year -€15,590
down €15,590 (-52.0%), from €29,962 to €14,372
of which Trade receivables: -€12,075
- Cash +€11,553
up €11,553 (+43.0%), from €26,854 to €38,407
mainly Other debts (+€18,043) and Trade debts (+€17,314)
- Tangible fixed assets +€4,355
up €4,355, from €0 to €4,355
of which Furniture and vehicles: +€4,355
- Intangible fixed assets -€4,000
down €4,000 (-50.8%), from €7,868 to €3,868
- Reserves -€40,279
down €40,279 (-100%), from €40,279 to €0
- Other debts +€18,043
up €18,043, from €0 to €18,043
- Trade debts +€17,314
up €17,314 (+224%), from €7,734 to €25,049
- Tax, wage and social debts +€2,013
up €2,013 (+137%), from €1,474 to €3,487
of which Remuneration and social security: +€1,575
- Gross operating margin -€15,983
down €15,983 (-36.3%), from €44,037 to €28,054
- Depreciation -€6,481
down €6,481 (-60.6%), from €10,691 to €4,210
- Taxes -€1,910
down €1,910 (-27.1%), from €7,037 to €5,128
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 | €66,587 | €63,179 | -€3,408 | -5.1% |
| Fixed assets | 21/28 | €7,868 | €8,224 | +€355 | +4.5% |
| Intangible fixed assets | 21 | €7,868 | €3,868 | -€4,000 | -50.8% |
| Tangible fixed assets | 22/27 | €0 | €4,355 | +€4,355 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €4,355 | +€4,355 | |
| Current assets | 29/58 | €58,718 | €54,956 | -€3,763 | -6.4% |
| Amounts receivable within one year | 40/41 | €29,962 | €14,372 | -€15,590 | -52.0% |
| Trade receivables | 40 | €23,575 | €11,500 | -€12,075 | -51.2% |
| Other amounts receivable | 41 | €6,387 | €2,872 | -€3,515 | -55.0% |
| Cash at bank and in hand | 54/58 | €26,854 | €38,407 | +€11,553 | +43.0% |
| Deferred charges and accrued income | 490/1 | €1,902 | €2,176 | +€274 | +14.4% |
| Total equity and liabilities | 10/49 | €66,587 | €63,179 | -€3,408 | -5.1% |
| Equity | 10/15 | €55,279 | €15,000 | -€40,279 | -72.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €40,279 | €0 | -€40,279 | -100% |
| Distributable reserves | 133 | €40,279 | €0 | -€40,279 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,308 | €48,179 | +€36,871 | +326% |
| Amounts payable within one year | 42/48 | €9,208 | €46,579 | +€37,371 | +406% |
| Trade debts | 44 | €7,734 | €25,049 | +€17,314 | +224% |
| Suppliers | 440/4 | €7,734 | €25,049 | +€17,314 | +224% |
| Taxes, remuneration and social security | 45 | €1,474 | €3,487 | +€2,013 | +137% |
| Taxes | 450/3 | €1,474 | €1,912 | +€438 | +29.8% |
| Remuneration and social security | 454/9 | €0 | €1,575 | +€1,575 | |
| Other amounts payable | 47/48 | €0 | €18,043 | +€18,043 | |
| Accrued charges and deferred income | 492/3 | €2,100 | €1,600 | -€500 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,691 | €4,210 | -€6,481 | -60.6% |
| Other operating charges | 640/8 | €1,884 | €2,304 | +€420 | +22.3% |
| Gross operating margin | 9900 | €44,037 | €28,054 | -€15,983 | -36.3% |
| Operating profit (loss) | 9901 | €31,463 | €21,540 | -€9,922 | -31.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €107 | €47 | -€60 | -55.8% |
| Recurring financial charges | 65 | €107 | €47 | -€60 | -55.8% |
| Profit (loss) for the period before taxes | 9903 | €31,355 | €21,493 | -€9,862 | -31.5% |
| Income taxes | 67/77 | €7,037 | €5,128 | -€1,910 | -27.1% |
| Profit (loss) for the period | 9904 | €24,318 | €16,366 | -€7,952 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,318 | €16,366 | -€7,952 | -32.7% |
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 25 October 2026 via checked.be.