COTEBO SERVICES: 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.
COTEBO SERVICES
Largest movements
- Tangible fixed assets +€145,530
up €145,530 (+96.8%), from €150,286 to €295,816
of which Land and buildings: +€142,583
- Receivables after one year -€74,297
no longer reported in 2025 (was €74,297)
- Cash +€61,397
up €61,397 (+16.7%), from €367,362 to €428,759
mainly Net result for the year (+€89,639) and Receivables after one year (+€74,297)
- Receivables within one year -€44,572
down €44,572 (-32.4%), from €137,502 to €92,930
of which Trade receivables: -€37,581
- Deferred charges and accrued income -€22,828
down €22,828 (-81.8%), from €27,913 to €5,085
- Reserves +€64,823
up €64,823 (+9.5%), from €682,437 to €747,260
- Other debts +€15,151
up €15,151 (+145.3%), from €10,430 to €25,581
- Provisions -€8,599
down €8,599 (-50.0%), from €17,198 to €8,599
- Gross operating margin -€111,725
down €111,725 (-42.8%), from €260,956 to €149,231
- Taxes -€47,051
down €47,051 (-56.0%), from €83,964 to €36,913
- Depreciation +€29,536
up €29,536 (+338.1%), from €8,735 to €38,271
- Financial income -€7,721
down €7,721 (-39.3%), from €19,626 to €11,905
- Financial charges -€4,165
down €4,165 (-67.4%), from €6,181 to €2,016
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 | €757,360 | €822,590 | +€65,230 | +8.6% |
| Fixed assets | 21/28 | €150,286 | €295,816 | +€145,530 | +96.8% |
| Tangible fixed assets | 22/27 | €150,286 | €295,816 | +€145,530 | +96.8% |
| Land and buildings | 22 | €136,397 | €278,980 | +€142,583 | +104.5% |
| Furniture and vehicles | 24 | €6,689 | €9,636 | +€2,947 | +44.1% |
| Other tangible fixed assets | 26 | €7,200 | €7,200 | = | 0.0% |
| Current assets | 29/58 | €607,074 | €526,774 | -€80,300 | -13.2% |
| Amounts receivable after more than one year | 29 | €74,297 | - | -€74,297 | |
| Other amounts receivable | 291 | €74,297 | - | -€74,297 | |
| Amounts receivable within one year | 40/41 | €137,502 | €92,930 | -€44,572 | -32.4% |
| Trade receivables | 40 | €52,897 | €15,316 | -€37,581 | -71.0% |
| Other amounts receivable | 41 | €84,605 | €77,614 | -€6,991 | -8.3% |
| Cash at bank and in hand | 54/58 | €367,362 | €428,759 | +€61,397 | +16.7% |
| Deferred charges and accrued income | 490/1 | €27,913 | €5,085 | -€22,828 | -81.8% |
| Total equity and liabilities | 10/49 | €757,360 | €822,590 | +€65,230 | +8.6% |
| Equity | 10/15 | €701,037 | €765,860 | +€64,823 | +9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €682,437 | €747,260 | +€64,823 | +9.5% |
| Distributable reserves | 133 | €682,437 | €747,260 | +€64,823 | +9.5% |
| Provisions and deferred taxes | 16 | €17,198 | €8,599 | -€8,599 | -50.0% |
| Provisions for liabilities and charges | 160/5 | €17,198 | €8,599 | -€8,599 | -50.0% |
| Pensions and similar obligations | 160 | €17,198 | €8,599 | -€8,599 | -50.0% |
| Amounts payable | 17/49 | €39,125 | €48,131 | +€9,006 | +23.0% |
| Amounts payable within one year | 42/48 | €39,125 | €48,131 | +€9,006 | +23.0% |
| Trade debts | 44 | €5,080 | €4,308 | -€772 | -15.2% |
| Suppliers | 440/4 | €5,080 | €4,308 | -€772 | -15.2% |
| Taxes, remuneration and social security | 45 | €23,615 | €18,242 | -€5,373 | -22.8% |
| Taxes | 450/3 | €23,615 | €18,242 | -€5,373 | -22.8% |
| Other amounts payable | 47/48 | €10,430 | €25,581 | +€15,151 | +145.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,735 | €38,271 | +€29,536 | +338.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,599 | -€8,599 | = | 0.0% |
| Other operating charges | 640/8 | €4,440 | €2,896 | -€1,544 | -34.8% |
| Non-recurring operating charges | 66A | €952 | - | -€952 | |
| Gross operating margin | 9900 | €260,956 | €149,231 | -€111,725 | -42.8% |
| Operating profit (loss) | 9901 | €255,428 | €116,663 | -€138,765 | -54.3% |
| Financial income | 75/76B | €19,626 | €11,905 | -€7,721 | -39.3% |
| Recurring financial income | 75 | €19,626 | €11,905 | -€7,721 | -39.3% |
| Financial charges | 65/66B | €6,181 | €2,016 | -€4,165 | -67.4% |
| Recurring financial charges | 65 | €6,181 | €2,016 | -€4,165 | -67.4% |
| Profit (loss) for the period before taxes | 9903 | €268,873 | €126,552 | -€142,321 | -52.9% |
| Income taxes | 67/77 | €83,964 | €36,913 | -€47,051 | -56.0% |
| Profit (loss) for the period | 9904 | €184,909 | €89,639 | -€95,270 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €184,909 | €89,639 | -€95,270 | -51.5% |
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 5 October 2026 via checked.be.