CONOTRA S.A.: 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.
CONOTRA S.A.
Largest movements
- Tangible fixed assets +€796,361
up €796,361 (+520%), from €153,265 to €949,626
of which Land and buildings: +€764,265
- Receivables within one year +€146,601
up €146,601 (+345%), from €42,488 to €189,089
of which Trade receivables: +€149,326
- Other debts +€895,651
up €895,651 (+375%), from €238,916 to €1.1m
- Debts after one year +€25,887
up €25,887 (+45.4%), from €57,000 to €82,887
- Current portion of long-term debt +€25,563
new in 2025: €25,563
- Gross operating margin +€74,909
up €74,909 (+201%), from €37,190 to €112,099
- Financial income -€68,666
down €68,666 (-99.7%), from €68,887 to €221
of which Non-recurring financial income: -€68,856
- Depreciation +€46,820
up €46,820 (+388%), from €12,073 to €58,894
- Other operating charges +€43,793
up €43,793 (+6,220%), from €704 to €44,497
- Staff costs -€4,811
down €4,811 (-24.9%), from €19,287 to €14,477
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 | €546,124 | €1,489,099 | +€942,975 | +173% |
| Fixed assets | 21/28 | €503,628 | €1,299,989 | +€796,361 | +158% |
| Tangible fixed assets | 22/27 | €153,265 | €949,626 | +€796,361 | +520% |
| Land and buildings | 22 | €73,235 | €837,499 | +€764,265 | +1,044% |
| Plant, machinery and equipment | 23 | €763 | €47,705 | +€46,942 | +6,148% |
| Furniture and vehicles | 24 | €79,267 | €64,422 | -€14,845 | -18.7% |
| Financial fixed assets | 28 | €350,363 | €350,363 | = | 0.0% |
| Current assets | 29/58 | €42,496 | €189,110 | +€146,614 | +345% |
| Amounts receivable within one year | 40/41 | €42,488 | €189,089 | +€146,601 | +345% |
| Trade receivables | 40 | €29,204 | €178,531 | +€149,326 | +511% |
| Other amounts receivable | 41 | €13,284 | €10,559 | -€2,725 | -20.5% |
| Cash at bank and in hand | 54/58 | €8 | €21 | +€13 | +156% |
| Total equity and liabilities | 10/49 | €546,124 | €1,489,099 | +€942,975 | +173% |
| Equity | 10/15 | €212,580 | €206,277 | -€6,302 | -3.0% |
| Contributions | 10/11 | €100,750 | €100,750 | = | 0.0% |
| Capital | 10 | €100,750 | €100,750 | = | 0.0% |
| Issued capital | 100 | €100,750 | €100,750 | = | 0.0% |
| Reserves | 13 | €91,001 | €86,731 | -€4,270 | -4.7% |
| Non-distributable reserves | 130/1 | €2,164 | €2,164 | = | 0.0% |
| Legal reserve | 130 | €2,164 | €2,164 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,048 | €59,778 | -€4,270 | -6.7% |
| Distributable reserves | 133 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,829 | €18,796 | -€2,033 | -9.8% |
| Provisions and deferred taxes | 16 | €26,103 | €24,363 | -€1,740 | -6.7% |
| Deferred taxes | 168 | €26,103 | €24,363 | -€1,740 | -6.7% |
| Amounts payable | 17/49 | €307,442 | €1,258,459 | +€951,017 | +309% |
| Amounts payable after more than one year | 17 | €57,000 | €82,887 | +€25,887 | +45.4% |
| Financial debts | 170/4 | €57,000 | €82,887 | +€25,887 | +45.4% |
| Amounts payable within one year | 42/48 | €250,442 | €1,175,572 | +€925,130 | +369% |
| Current portion of amounts payable after more than one year | 42 | - | €25,563 | +€25,563 | |
| Trade debts | 44 | €553 | €13,859 | +€13,306 | +2,408% |
| Suppliers | 440/4 | €553 | €13,859 | +€13,306 | +2,408% |
| Taxes, remuneration and social security | 45 | €10,973 | €1,583 | -€9,390 | -85.6% |
| Taxes | 450/3 | €10,973 | €123 | -€10,851 | -98.9% |
| Remuneration and social security | 454/9 | - | €1,460 | +€1,460 | |
| Other amounts payable | 47/48 | €238,916 | €1,134,567 | +€895,651 | +375% |
| Remuneration, social security and pensions | 62 | €19,287 | €14,477 | -€4,811 | -24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,073 | €58,894 | +€46,820 | +388% |
| Other operating charges | 640/8 | €704 | €44,497 | +€43,793 | +6,220% |
| Gross operating margin | 9900 | €37,190 | €112,099 | +€74,909 | +201% |
| Operating profit (loss) | 9901 | €5,125 | -€5,769 | -€10,894 | |
| Financial income | 75/76B | €68,887 | €221 | -€68,666 | -99.7% |
| Recurring financial income | 75 | €31 | €221 | +€189 | +601% |
| Non-recurring financial income | 76B | €68,856 | - | -€68,856 | |
| Financial charges | 65/66B | €455 | €2,372 | +€1,917 | +421% |
| Recurring financial charges | 65 | €455 | €2,372 | +€1,917 | +421% |
| Profit (loss) for the period before taxes | 9903 | €73,557 | -€7,920 | -€81,477 | |
| Transfer from deferred taxes | 780 | - | €1,740 | +€1,740 | |
| Income taxes | 67/77 | - | €123 | +€123 | |
| Profit (loss) for the period | 9904 | €73,557 | -€6,302 | -€79,860 | |
| Transfer from tax-exempt reserves | 789 | - | €4,270 | +€4,270 | |
| Profit (loss) for the period to be appropriated | 9905 | €73,557 | -€2,033 | -€75,590 |
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 21 October 2026 via checked.be.