COTEMA: 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.
COTEMA
Largest movements
- Tangible fixed assets -€22,297
down €22,297 (-24.6%), from €90,623 to €68,325
of which Furniture and vehicles: -€13,242
- Receivables within one year -€16,047
down €16,047 (-20.3%), from €79,160 to €63,112
- Deferred charges and accrued income -€6,057
down €6,057 (-46.7%), from €12,956 to €6,899
- Intangible fixed assets -€4,901
down €4,901 (-22.9%), from €21,418 to €16,517
- Debts after one year -€50,147
down €50,147 (-49.4%), from €101,436 to €51,288
- Profit (loss) carried forward -€23,020
down €23,020 (-257.9%), from -€8,925 to -€31,945
- Tax, wage and social debts +€16,935
up €16,935 (+43.7%), from €38,769 to €55,704
of which Remuneration and social security: +€21,043
- Trade debts +€13,610
up €13,610 (+33.8%), from €40,294 to €53,904
- Short-term financial debts -€8,211
no longer reported in 2025 (was €8,211)
- Staff costs +€56,237
up €56,237 (+77.7%), from €72,389 to €128,625
- Depreciation -€11,264
down €11,264 (-28.2%), from €39,960 to €28,697
- Gross operating margin -€2,483
down €2,483 (-1.6%), from €155,015 to €152,532
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 | €241,045 | €192,199 | -€48,846 | -20.3% |
| Fixed assets | 21/28 | €116,911 | €89,713 | -€27,199 | -23.3% |
| Intangible fixed assets | 21 | €21,418 | €16,517 | -€4,901 | -22.9% |
| Tangible fixed assets | 22/27 | €90,623 | €68,325 | -€22,297 | -24.6% |
| Furniture and vehicles | 24 | €31,970 | €18,728 | -€13,242 | -41.4% |
| Other tangible fixed assets | 26 | €58,653 | €49,597 | -€9,055 | -15.4% |
| Financial fixed assets | 28 | €4,871 | €4,871 | = | 0.0% |
| Current assets | 29/58 | €124,134 | €102,486 | -€21,648 | -17.4% |
| Stocks and contracts in progress | 3 | €29,860 | €31,260 | +€1,400 | +4.7% |
| Stocks | 30/36 | €29,860 | €31,260 | +€1,400 | +4.7% |
| Amounts receivable within one year | 40/41 | €79,160 | €63,112 | -€16,047 | -20.3% |
| Other amounts receivable | 41 | €79,160 | €63,112 | -€16,047 | -20.3% |
| Cash at bank and in hand | 54/58 | €2,159 | €1,215 | -€944 | -43.7% |
| Deferred charges and accrued income | 490/1 | €12,956 | €6,899 | -€6,057 | -46.7% |
| Total equity and liabilities | 10/49 | €241,045 | €192,199 | -€48,846 | -20.3% |
| Equity | 10/15 | -€865 | -€23,885 | -€23,020 | -2661.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,925 | -€31,945 | -€23,020 | -257.9% |
| Amounts payable | 17/49 | €241,910 | €216,084 | -€25,827 | -10.7% |
| Amounts payable after more than one year | 17 | €101,436 | €51,288 | -€50,147 | -49.4% |
| Financial debts | 170/4 | €101,436 | €51,288 | -€50,147 | -49.4% |
| Amounts payable within one year | 42/48 | €138,132 | €162,455 | +€24,323 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €50,858 | €50,847 | -€10 | 0.0% |
| Financial debts | 43 | €8,211 | - | -€8,211 | |
| Credit institutions | 430/8 | €8,211 | - | -€8,211 | |
| Trade debts | 44 | €40,294 | €53,904 | +€13,610 | +33.8% |
| Suppliers | 440/4 | €40,294 | €53,904 | +€13,610 | +33.8% |
| Taxes, remuneration and social security | 45 | €38,769 | €55,704 | +€16,935 | +43.7% |
| Taxes | 450/3 | €19,220 | €15,112 | -€4,109 | -21.4% |
| Remuneration and social security | 454/9 | €19,549 | €40,592 | +€21,043 | +107.6% |
| Other amounts payable | 47/48 | - | €2,000 | +€2,000 | |
| Accrued charges and deferred income | 492/3 | €2,342 | €2,340 | -€2 | -0.1% |
| Remuneration, social security and pensions | 62 | €72,389 | €128,625 | +€56,237 | +77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,960 | €28,697 | -€11,264 | -28.2% |
| Other operating charges | 640/8 | €830 | €1,785 | +€954 | +114.9% |
| Non-recurring operating charges | 66A | €51,538 | €9,591 | -€41,947 | -81.4% |
| Gross operating margin | 9900 | €155,015 | €152,532 | -€2,483 | -1.6% |
| Operating profit (loss) | 9901 | -€9,703 | -€16,166 | -€6,463 | -66.6% |
| Financial income | 75/76B | €0 | €26 | +€26 | +7169.4% |
| Recurring financial income | 75 | €0 | €26 | +€26 | +7169.4% |
| Financial charges | 65/66B | €6,924 | €6,880 | -€44 | -0.6% |
| Recurring financial charges | 65 | €6,924 | €6,880 | -€44 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,627 | -€23,020 | -€6,393 | -38.5% |
| Profit (loss) for the period | 9904 | -€16,627 | -€23,020 | -€6,393 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,627 | -€23,020 | -€6,393 | -38.5% |
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 29 September 2026 via checked.be.