COTEN: 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.
COTEN
Largest movements
- Stocks and contracts +€504,901
up €504,901 (+1333.5%), from €37,862 to €542,762
- Receivables within one year -€75,787
down €75,787 (-49.1%), from €154,322 to €78,535
of which Trade receivables: -€80,062
- Cash -€58,357
down €58,357 (-87.3%), from €66,884 to €8,527
mainly Stocks and contracts (-€504,901) and Investment in fixed assets (net) (-€9,876)
- Debts after one year +€298,764
new in 2025: €298,764
- Trade debts +€50,066
up €50,066 (+4498.4%), from €1,113 to €51,179
- Profit (loss) carried forward +€13,190
up €13,190 (+1031.9%), from €1,278 to €14,468
- Other debts +€10,476
up €10,476 (+4.1%), from €255,369 to €265,845
- Gross operating margin +€31,197
up €31,197 (+501.2%), from €6,225 to €37,422
- Financial charges +€12,394
up €12,394 (+590.6%), from €2,099 to €14,493
- Taxes +€3,789
up €3,789 (+935.4%), from €405 to €4,194
- Depreciation +€3,529
up €3,529 (+808.4%), from €437 to €3,965
- Other operating charges -€411
down €411 (-20.5%), from €2,006 to €1,596
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 | €268,165 | €644,969 | +€376,804 | +140.5% |
| Fixed assets | 21/28 | €8,115 | €14,026 | +€5,911 | +72.8% |
| Tangible fixed assets | 22/27 | €8,115 | €14,026 | +€5,911 | +72.8% |
| Plant, machinery and equipment | 23 | €1,877 | €1,474 | -€403 | -21.5% |
| Furniture and vehicles | 24 | €4,367 | €11,060 | +€6,693 | +153.3% |
| Other tangible fixed assets | 26 | €1,871 | €1,492 | -€379 | -20.3% |
| Current assets | 29/58 | €260,050 | €630,943 | +€370,893 | +142.6% |
| Stocks and contracts in progress | 3 | €37,862 | €542,762 | +€504,901 | +1333.5% |
| Stocks | 30/36 | €37,862 | €542,762 | +€504,901 | +1333.5% |
| Amounts receivable within one year | 40/41 | €154,322 | €78,535 | -€75,787 | -49.1% |
| Trade receivables | 40 | €151,375 | €71,313 | -€80,062 | -52.9% |
| Other amounts receivable | 41 | €2,947 | €7,222 | +€4,275 | +145.1% |
| Cash at bank and in hand | 54/58 | €66,884 | €8,527 | -€58,357 | -87.3% |
| Deferred charges and accrued income | 490/1 | €983 | €1,119 | +€136 | +13.9% |
| Total equity and liabilities | 10/49 | €268,165 | €644,969 | +€376,804 | +140.5% |
| Equity | 10/15 | €11,278 | €24,468 | +€13,190 | +117.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,278 | €14,468 | +€13,190 | +1031.9% |
| Amounts payable | 17/49 | €256,887 | €620,501 | +€363,614 | +141.5% |
| Amounts payable after more than one year | 17 | - | €298,764 | +€298,764 | |
| Financial debts | 170/4 | - | €298,764 | +€298,764 | |
| Amounts payable within one year | 42/48 | €256,887 | €321,737 | +€64,850 | +25.2% |
| Trade debts | 44 | €1,113 | €51,179 | +€50,066 | +4498.4% |
| Suppliers | 440/4 | €1,113 | €51,179 | +€50,066 | +4498.4% |
| Taxes, remuneration and social security | 45 | €405 | €4,713 | +€4,308 | +1063.8% |
| Taxes | 450/3 | €405 | €4,713 | +€4,308 | +1063.8% |
| Other amounts payable | 47/48 | €255,369 | €265,845 | +€10,476 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437 | €3,965 | +€3,529 | +808.4% |
| Other operating charges | 640/8 | €2,006 | €1,596 | -€411 | -20.5% |
| Gross operating margin | 9900 | €6,225 | €37,422 | +€31,197 | +501.2% |
| Operating profit (loss) | 9901 | €3,782 | €31,861 | +€28,079 | +742.5% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €2,099 | €14,493 | +€12,394 | +590.6% |
| Recurring financial charges | 65 | €2,099 | €14,493 | +€12,394 | +590.6% |
| Profit (loss) for the period before taxes | 9903 | €1,683 | €17,383 | +€15,700 | +932.8% |
| Income taxes | 67/77 | €405 | €4,194 | +€3,789 | +935.4% |
| Profit (loss) for the period | 9904 | €1,278 | €13,190 | +€11,912 | +931.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,278 | €13,190 | +€11,912 | +931.9% |
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 10 October 2026 via checked.be.