COTEC 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.
COTEC SERVICES
Largest movements
- Receivables within one year -€68,770
down €68,770 (-42.1%), from €163,350 to €94,579
of which Other amounts receivable: -€42,774
- Advances received -€60,611
no longer reported in 2025 (was €60,611)
- Reserves -€14,426
down €14,426 (-20.6%), from €70,019 to €55,593
of which Distributable reserves: -€14,426
- Trade debts +€4,415
up €4,415 (+23.5%), from €18,822 to €23,237
- Gross operating margin +€5,286
up €5,286 (+12.1%), from €43,746 to €49,032
- Taxes +€2,551
up €2,551 (+26.0%), from €9,800 to €12,351
- Financial charges -€1,991
down €1,991 (-86.8%), from €2,294 to €303
- Staff costs +€1,561
up €1,561 (+78.1%), from €2,000 to €3,561
- Other operating charges -€686
down €686 (-31.1%), from €2,206 to €1,521
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 | €168,261 | €98,797 | -€69,464 | -41.3% |
| Fixed assets | 21/28 | €4,911 | €4,055 | -€856 | -17.4% |
| Tangible fixed assets | 22/27 | €1,286 | €429 | -€856 | -66.6% |
| Furniture and vehicles | 24 | €1,286 | €429 | -€856 | -66.6% |
| Financial fixed assets | 28 | €3,625 | €3,625 | = | 0.0% |
| Current assets | 29/58 | €163,350 | €94,742 | -€68,608 | -42.0% |
| Amounts receivable within one year | 40/41 | €163,350 | €94,579 | -€68,770 | -42.1% |
| Trade receivables | 40 | €73,240 | €47,244 | -€25,996 | -35.5% |
| Other amounts receivable | 41 | €90,110 | €47,335 | -€42,774 | -47.5% |
| Cash at bank and in hand | 54/58 | - | €162 | +€162 | |
| Total equity and liabilities | 10/49 | €168,261 | €98,797 | -€69,464 | -41.3% |
| Equity | 10/15 | €76,219 | €61,793 | -€14,426 | -18.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €70,019 | €55,593 | -€14,426 | -20.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €68,159 | €53,733 | -€14,426 | -21.2% |
| Amounts payable | 17/49 | €92,042 | €37,004 | -€55,038 | -59.8% |
| Amounts payable within one year | 42/48 | €91,417 | €36,379 | -€55,038 | -60.2% |
| Financial debts | 43 | €524 | - | -€524 | |
| Credit institutions | 430/8 | €524 | - | -€524 | |
| Trade debts | 44 | €18,822 | €23,237 | +€4,415 | +23.5% |
| Suppliers | 440/4 | €18,822 | €23,237 | +€4,415 | +23.5% |
| Advances received on contracts in progress | 46 | €60,611 | - | -€60,611 | |
| Taxes, remuneration and social security | 45 | €11,459 | €13,142 | +€1,682 | +14.7% |
| Taxes | 450/3 | €11,459 | €13,142 | +€1,682 | +14.7% |
| Accrued charges and deferred income | 492/3 | €625 | €625 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,000 | €3,561 | +€1,561 | +78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025 | €856 | -€168 | -16.4% |
| Other operating charges | 640/8 | €2,206 | €1,521 | -€686 | -31.1% |
| Non-recurring operating charges | 66A | €605 | - | -€605 | |
| Gross operating margin | 9900 | €43,746 | €49,032 | +€5,286 | +12.1% |
| Operating profit (loss) | 9901 | €37,910 | €43,094 | +€5,184 | +13.7% |
| Financial charges | 65/66B | €2,294 | €303 | -€1,991 | -86.8% |
| Recurring financial charges | 65 | €2,294 | €303 | -€1,991 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | €35,616 | €42,791 | +€7,175 | +20.1% |
| Income taxes | 67/77 | €9,800 | €12,351 | +€2,551 | +26.0% |
| Profit (loss) for the period | 9904 | €25,816 | €30,440 | +€4,624 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,816 | €30,440 | +€4,624 | +17.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.