COCOON-STRUCT: 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.
COCOON-STRUCT
Largest movements
- Receivables within one year -€15,986
down €15,986 (-30.2%), from €53,004 to €37,018
of which Trade receivables: -€12,112
- Tangible fixed assets -€11,152
down €11,152 (-19.9%), from €56,142 to €44,990
of which Plant, machinery and equipment: -€8,657
- Cash +€8,134
up €8,134 (+171.3%), from €4,749 to €12,884
mainly Receivables within one year (+€15,986) and Depreciation (+€12,464)
- Trade debts -€29,482
down €29,482 (-49.2%), from €59,898 to €30,416
- Profit (loss) carried forward -€12,658
down €12,658 (-74.6%), from -€16,977 to -€29,635
- Other debts +€9,968
new in 2025: €9,968
- Debts after one year +€6,912
up €6,912 (+17.0%), from €40,670 to €47,582
- Current portion of long-term debt +€5,318
up €5,318 (+34.9%), from €15,259 to €20,578
- Gross operating margin +€30,595
up €30,595 (+166.0%), from €18,432 to €49,027
- Staff costs +€8,859
up €8,859 (+28.0%), from €31,645 to €40,504
- Depreciation +€7,004
up €7,004 (+128.3%), from €5,459 to €12,464
- Financial charges +€2,674
up €2,674 (+139.6%), from €1,915 to €4,589
- Other operating charges +€1,403
up €1,403 (+52.5%), from €2,672 to €4,075
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 | €114,211 | €95,208 | -€19,003 | -16.6% |
| Fixed assets | 21/28 | €56,458 | €45,306 | -€11,152 | -19.8% |
| Tangible fixed assets | 22/27 | €56,142 | €44,990 | -€11,152 | -19.9% |
| Plant, machinery and equipment | 23 | €40,174 | €31,518 | -€8,657 | -21.5% |
| Furniture and vehicles | 24 | €15,968 | €13,473 | -€2,495 | -15.6% |
| Financial fixed assets | 28 | €316 | €316 | = | 0.0% |
| Current assets | 29/58 | €57,753 | €49,902 | -€7,851 | -13.6% |
| Amounts receivable within one year | 40/41 | €53,004 | €37,018 | -€15,986 | -30.2% |
| Trade receivables | 40 | €48,109 | €35,998 | -€12,112 | -25.2% |
| Other amounts receivable | 41 | €4,895 | €1,020 | -€3,874 | -79.2% |
| Cash at bank and in hand | 54/58 | €4,749 | €12,884 | +€8,134 | +171.3% |
| Total equity and liabilities | 10/49 | €114,211 | €95,208 | -€19,003 | -16.6% |
| Equity | 10/15 | -€9,757 | -€22,415 | -€12,658 | -129.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,020 | €1,020 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,020 | €1,020 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,020 | €1,020 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,977 | -€29,635 | -€12,658 | -74.6% |
| Amounts payable | 17/49 | €123,969 | €117,623 | -€6,346 | -5.1% |
| Amounts payable after more than one year | 17 | €40,670 | €47,582 | +€6,912 | +17.0% |
| Financial debts | 170/4 | €40,670 | €47,582 | +€6,912 | +17.0% |
| Amounts payable within one year | 42/48 | €83,299 | €70,041 | -€13,258 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €15,259 | €20,578 | +€5,318 | +34.9% |
| Trade debts | 44 | €59,898 | €30,416 | -€29,482 | -49.2% |
| Suppliers | 440/4 | €59,898 | €30,416 | -€29,482 | -49.2% |
| Taxes, remuneration and social security | 45 | €8,142 | €9,080 | +€938 | +11.5% |
| Taxes | 450/3 | €5,919 | €8,779 | +€2,860 | +48.3% |
| Remuneration and social security | 454/9 | €2,223 | €301 | -€1,922 | -86.5% |
| Other amounts payable | 47/48 | - | €9,968 | +€9,968 | |
| Remuneration, social security and pensions | 62 | €31,645 | €40,504 | +€8,859 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,459 | €12,464 | +€7,004 | +128.3% |
| Other operating charges | 640/8 | €2,672 | €4,075 | +€1,403 | +52.5% |
| Gross operating margin | 9900 | €18,432 | €49,027 | +€30,595 | +166.0% |
| Operating profit (loss) | 9901 | -€21,344 | -€8,016 | +€13,328 | +62.4% |
| Financial income | 75/76B | €0 | €28 | +€28 | +6942.5% |
| Recurring financial income | 75 | €0 | €28 | +€28 | +6942.5% |
| Financial charges | 65/66B | €1,915 | €4,589 | +€2,674 | +139.6% |
| Recurring financial charges | 65 | €1,915 | €4,589 | +€2,674 | +139.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,258 | -€12,576 | +€10,682 | +45.9% |
| Income taxes | 67/77 | - | €81 | +€81 | |
| Profit (loss) for the period | 9904 | -€23,258 | -€12,658 | +€10,601 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,258 | -€12,658 | +€10,601 | +45.6% |
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 28 September 2026 via checked.be.