COTEX: 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.
COTEX
Largest movements
- Current investments +€115,000
new in 2025: €115,000
- Cash -€76,871
down €76,871 (-53.1%), from €144,756 to €67,885
mainly Current investments (-€115,000) and Investment in fixed assets (net) (-€15,000)
- Stocks and contracts -€19,875
down €19,875 (-19.8%), from €100,611 to €80,736
- Tangible fixed assets +€11,557
up €11,557 (+34.5%), from €33,527 to €45,084
of which Furniture and vehicles: +€13,695
- Reserves +€21,600
up €21,600 (+13.1%), from €164,620 to €186,220
- Tax, wage and social debts +€5,399
up €5,399 (+177.9%), from €3,035 to €8,434
- Gross operating margin +€15,200
up €15,200 (+51.3%), from €29,615 to €44,815
- Taxes +€5,689
up €5,689 (+110.0%), from €5,171 to €10,860
- Other operating charges +€1,411
up €1,411 (+67.2%), from €2,101 to €3,512
- Depreciation -€930
down €930 (-21.3%), from €4,373 to €3,443
- Financial income +€627
up €627 (+786.2%), from €80 to €707
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 | €282,657 | €311,724 | +€29,067 | +10.3% |
| Fixed assets | 21/28 | €33,627 | €45,184 | +€11,557 | +34.4% |
| Tangible fixed assets | 22/27 | €33,527 | €45,084 | +€11,557 | +34.5% |
| Land and buildings | 22 | €33,527 | €31,388 | -€2,138 | -6.4% |
| Furniture and vehicles | 24 | €0 | €13,695 | +€13,695 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €249,031 | €266,540 | +€17,510 | +7.0% |
| Stocks and contracts in progress | 3 | €100,611 | €80,736 | -€19,875 | -19.8% |
| Stocks | 30/36 | €100,611 | €80,736 | -€19,875 | -19.8% |
| Amounts receivable within one year | 40/41 | €1,064 | €313 | -€751 | -70.6% |
| Other amounts receivable | 41 | €1,064 | €313 | -€751 | -70.6% |
| Current investments | 50/53 | - | €115,000 | +€115,000 | |
| Cash at bank and in hand | 54/58 | €144,756 | €67,885 | -€76,871 | -53.1% |
| Deferred charges and accrued income | 490/1 | €2,600 | €2,607 | +€7 | +0.3% |
| Total equity and liabilities | 10/49 | €282,657 | €311,724 | +€29,067 | +10.3% |
| Equity | 10/15 | €204,714 | €226,315 | +€21,601 | +10.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €164,620 | €186,220 | +€21,600 | +13.1% |
| Distributable reserves | 133 | €164,620 | €186,220 | +€21,600 | +13.1% |
| Profit (loss) carried forward | 14 | €94 | €95 | +€1 | +0.6% |
| Amounts payable | 17/49 | €77,943 | €85,409 | +€7,466 | +9.6% |
| Amounts payable within one year | 42/48 | €77,943 | €85,409 | +€7,466 | +9.6% |
| Financial debts | 43 | €80 | €50 | -€30 | -37.3% |
| Other loans | 439 | €80 | €50 | -€30 | -37.3% |
| Trade debts | 44 | €3,767 | €6,584 | +€2,817 | +74.8% |
| Suppliers | 440/4 | €3,767 | €6,584 | +€2,817 | +74.8% |
| Taxes, remuneration and social security | 45 | €3,035 | €8,434 | +€5,399 | +177.9% |
| Taxes | 450/3 | €3,035 | €8,434 | +€5,399 | +177.9% |
| Other amounts payable | 47/48 | €71,061 | €70,342 | -€720 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,373 | €3,443 | -€930 | -21.3% |
| Other operating charges | 640/8 | €2,101 | €3,512 | +€1,411 | +67.2% |
| Gross operating margin | 9900 | €29,615 | €44,815 | +€15,200 | +51.3% |
| Operating profit (loss) | 9901 | €23,141 | €37,860 | +€14,719 | +63.6% |
| Financial income | 75/76B | €80 | €707 | +€627 | +786.2% |
| Recurring financial income | 75 | €80 | €707 | +€627 | +786.2% |
| Financial charges | 65/66B | €5,783 | €6,106 | +€323 | +5.6% |
| Recurring financial charges | 65 | €5,783 | €6,106 | +€323 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €17,438 | €32,461 | +€15,023 | +86.2% |
| Income taxes | 67/77 | €5,171 | €10,860 | +€5,689 | +110.0% |
| Profit (loss) for the period | 9904 | €12,267 | €21,601 | +€9,334 | +76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,267 | €21,601 | +€9,334 | +76.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.