COTELAC BELGIUM: 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.
COTELAC BELGIUM
Largest movements
- Tangible fixed assets -€1,450
down €1,450 (-6.4%), from €22,699 to €21,249
of which Other tangible fixed assets: -€2,538
- Profit (loss) carried forward -€45,116
down €45,116 (-95.4%), from -€47,284 to -€92,400
- Trade debts +€38,730
up €38,730 (+93.6%), from €41,379 to €80,109
- Tax, wage and social debts +€6,029
up €6,029 (+47.4%), from €12,727 to €18,756
of which Taxes: +€5,542
- Accrued charges and deferred income -€1,418
down €1,418 (-100%), from €1,418 to €0
- Financial income -€263,866
down €263,866 (-100.0%), from €263,867 to €0
of which Non-recurring financial income: -€263,630
- Gross operating margin -€8,182
down €8,182 (-15.3%), from €53,424 to €45,241
- Staff costs +€4,351
up €4,351 (+5.3%), from €82,645 to €86,997
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 | €41,793 | €40,018 | -€1,776 | -4.2% |
| Fixed assets | 21/28 | €27,272 | €25,822 | -€1,450 | -5.3% |
| Tangible fixed assets | 22/27 | €22,699 | €21,249 | -€1,450 | -6.4% |
| Other tangible fixed assets | 26 | €22,699 | €20,161 | -€2,538 | -11.2% |
| Assets under construction and advance payments | 27 | - | €1,088 | +€1,088 | |
| Financial fixed assets | 28 | €4,573 | €4,573 | = | 0.0% |
| Current assets | 29/58 | €14,521 | €14,195 | -€326 | -2.2% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €14,521 | €14,195 | -€326 | -2.2% |
| Total equity and liabilities | 10/49 | €41,793 | €40,018 | -€1,776 | -4.2% |
| Equity | 10/15 | -€13,732 | -€58,848 | -€45,116 | -329% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €13,552 | €13,552 | = | 0.0% |
| Distributable reserves | 133 | €13,552 | €13,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,284 | -€92,400 | -€45,116 | -95.4% |
| Amounts payable | 17/49 | €55,525 | €98,866 | +€43,340 | +78.1% |
| Amounts payable within one year | 42/48 | €54,107 | €98,866 | +€44,759 | +82.7% |
| Trade debts | 44 | €41,379 | €80,109 | +€38,730 | +93.6% |
| Suppliers | 440/4 | €41,379 | €80,109 | +€38,730 | +93.6% |
| Taxes, remuneration and social security | 45 | €12,727 | €18,756 | +€6,029 | +47.4% |
| Taxes | 450/3 | €2,400 | €7,942 | +€5,542 | +231% |
| Remuneration and social security | 454/9 | €10,327 | €10,814 | +€487 | +4.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,418 | €0 | -€1,418 | -100% |
| Remuneration, social security and pensions | 62 | €82,645 | €86,997 | +€4,351 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,538 | €2,538 | = | 0.0% |
| Other operating charges | 640/8 | €667 | €679 | +€12 | +1.8% |
| Gross operating margin | 9900 | €53,424 | €45,241 | -€8,182 | -15.3% |
| Operating profit (loss) | 9901 | -€32,426 | -€44,972 | -€12,546 | -38.7% |
| Financial income | 75/76B | €263,867 | €0 | -€263,866 | -100.0% |
| Recurring financial income | 75 | €237 | €0 | -€236 | -100.0% |
| Non-recurring financial income | 76B | €263,630 | €0 | -€263,630 | -100% |
| Financial charges | 65/66B | €139 | €144 | +€5 | +3.6% |
| Recurring financial charges | 65 | €139 | €144 | +€5 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €231,301 | -€45,116 | -€276,417 | |
| Profit (loss) for the period | 9904 | €231,301 | -€45,116 | -€276,417 | |
| Profit (loss) for the period to be appropriated | 9905 | €231,301 | -€45,116 | -€276,417 |
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 18 October 2026 via checked.be.