CO-TERRE: what changed
What changed
CO-TERRE
NACE 25.530, Machining of metals
filed annual accounts (NBB)
Net result for the year
-€72,212
2024 · €40,523-€112,735
Equity
€332,718
2024 · €404,930-€72,212
Cash
€184,213
2024 · €189,109-€4,895
Balance sheet total
€1.6m
2024 · €1.7m-€81,684
Largest movements
Assets
- Stocks and contracts -€52,624
down €52,624 (-55.8%), from €94,242 to €41,618
of which Contracts in progress: -€50,147
- Receivables within one year -€43,547
down €43,547 (-10.6%), from €410,486 to €366,939
of which Other amounts receivable: -€23,460
- Tangible fixed assets +€17,227
up €17,227 (+9.9%), from €173,155 to €190,381
of which Leasing and similar rights: +€29,191
Equity and liabilities
- Profit (loss) carried forward -€72,212
down €72,212, from €31,843 to -€40,369
- Trade debts +€59,539
up €59,539 (+23.8%), from €249,763 to €309,302
- Debts after one year -€41,606
down €41,606 (-5.8%), from €719,930 to €678,324
- Tax, wage and social debts -€37,109
down €37,109 (-22.9%), from €161,797 to €124,688
of which Remuneration and social security: -€31,922
- Short-term financial debts +€20,360
new in 2025: €20,360
Income statement
- Gross operating margin -€248,541
down €248,541 (-26.0%), from €954,208 to €705,667
- Staff costs -€123,433
down €123,433 (-16.1%), from €768,136 to €644,703
- Depreciation +€20,474
up €20,474 (+31.0%), from €66,041 to €86,515
- Taxes -€18,275
down €18,275 (-81.2%), from €22,500 to €4,225
- Other operating charges -€14,008
down €14,008 (-55.4%), from €25,294 to €11,287
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.
Result 2024
€40,523
Gross operating margin
-€248,541
Staff costs
+€123,433
Depreciation
-€20,474
Write-downs
+€13,000
Other operating charges
+€14,008
Financial income
-€3,479
Financial charges
-€8,956
Taxes
+€18,275
Result 2025
-€72,212
raises the resultlowers the result
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.
From operations
+€137,312
Investment
-€107,706
Financing
-€34,501
Cash 2024
€189,109
From operations (derived)
+€137,312
Net result for the year
-€72,212
Depreciation
+€86,515
Stocks and contracts
+€52,624
Receivables within one year
+€43,547
Deferred charges and accrued income
+€1,810
Trade debts
+€59,539
Tax, wage and social debts
-€37,109
Advances received
+€1,681
Other debts
+€939
Accrued charges and deferred income
-€21
Investment (derived)
-€107,706
Investment in fixed assets (net)
-€107,706
Financing
-€34,501
Debts after one year
-€41,606
Current portion of long-term debt
-€13,255
Short-term financial debts
+€20,360
Cash 2025
€184,213
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,664,706 | €1,583,022 | -€81,684 | -4.9% |
| Fixed assets | 21/28 | €939,069 | €960,260 | +€21,191 | +2.3% |
| Intangible fixed assets | 21 | €11,014 | €13,479 | +€2,465 | +22.4% |
| Tangible fixed assets | 22/27 | €173,155 | €190,381 | +€17,227 | +9.9% |
| Plant, machinery and equipment | 23 | €30,736 | €23,684 | -€7,051 | -22.9% |
| Furniture and vehicles | 24 | €25,762 | €22,906 | -€2,856 | -11.1% |
| Leasing and similar rights | 25 | €114,600 | €143,791 | +€29,191 | +25.5% |
| Assets under construction and advance payments | 27 | €2,057 | - | -€2,057 | |
| Financial fixed assets | 28 | €754,900 | €756,400 | +€1,500 | +0.2% |
| Current assets | 29/58 | €725,637 | €622,762 | -€102,876 | -14.2% |
| Stocks and contracts in progress | 3 | €94,242 | €41,618 | -€52,624 | -55.8% |
| Stocks | 30/36 | €44,095 | €41,618 | -€2,476 | -5.6% |
| Contracts in progress | 37 | €50,147 | - | -€50,147 | |
| Amounts receivable within one year | 40/41 | €410,486 | €366,939 | -€43,547 | -10.6% |
| Trade receivables | 40 | €379,248 | €359,161 | -€20,087 | -5.3% |
| Other amounts receivable | 41 | €31,238 | €7,778 | -€23,460 | -75.1% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €189,109 | €184,213 | -€4,895 | -2.6% |
| Deferred charges and accrued income | 490/1 | €31,800 | €29,991 | -€1,810 | -5.7% |
| Total equity and liabilities | 10/49 | €1,664,706 | €1,583,022 | -€81,684 | -4.9% |
| Equity | 10/15 | €404,930 | €332,718 | -€72,212 | -17.8% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Reserves | 13 | €48,086 | €48,086 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,885 | €14,885 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,885 | €14,885 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,202 | €33,202 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,843 | -€40,369 | -€72,212 | |
| Amounts payable | 17/49 | €1,259,777 | €1,250,304 | -€9,472 | -0.8% |
| Amounts payable after more than one year | 17 | €719,930 | €678,324 | -€41,606 | -5.8% |
| Financial debts | 170/4 | €719,930 | €678,324 | -€41,606 | -5.8% |
| Amounts payable within one year | 42/48 | €539,786 | €571,940 | +€32,154 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €128,190 | €114,934 | -€13,255 | -10.3% |
| Financial debts | 43 | - | €20,360 | +€20,360 | |
| Credit institutions | 430/8 | - | €20,360 | +€20,360 | |
| Trade debts | 44 | €249,763 | €309,302 | +€59,539 | +23.8% |
| Suppliers | 440/4 | €249,763 | €309,302 | +€59,539 | +23.8% |
| Advances received on contracts in progress | 46 | - | €1,681 | +€1,681 | |
| Taxes, remuneration and social security | 45 | €161,797 | €124,688 | -€37,109 | -22.9% |
| Taxes | 450/3 | €50,845 | €45,658 | -€5,187 | -10.2% |
| Remuneration and social security | 454/9 | €110,952 | €79,030 | -€31,922 | -28.8% |
| Other amounts payable | 47/48 | €36 | €974 | +€939 | +2,633% |
| Accrued charges and deferred income | 492/3 | €61 | €41 | -€21 | -33.7% |
| Remuneration, social security and pensions | 62 | €768,136 | €644,703 | -€123,433 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,041 | €86,515 | +€20,474 | +31.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,965 | -€6,035 | -€13,000 | |
| Other operating charges | 640/8 | €25,294 | €11,287 | -€14,008 | -55.4% |
| Gross operating margin | 9900 | €954,208 | €705,667 | -€248,541 | -26.0% |
| Operating profit (loss) | 9901 | €87,771 | -€30,802 | -€118,574 | |
| Financial income | 75/76B | €3,991 | €511 | -€3,479 | -87.2% |
| Recurring financial income | 75 | €3,991 | €511 | -€3,479 | -87.2% |
| Financial charges | 65/66B | €28,739 | €37,695 | +€8,956 | +31.2% |
| Recurring financial charges | 65 | €28,739 | €37,695 | +€8,956 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €63,023 | -€67,986 | -€131,010 | |
| Income taxes | 67/77 | €22,500 | €4,225 | -€18,275 | -81.2% |
| Profit (loss) for the period | 9904 | €40,523 | -€72,212 | -€112,735 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,523 | -€72,212 | -€112,735 |
Next steps
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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 6 November 2026 via checked.be.