COTOPAXI: 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.
COTOPAXI
Largest movements
- Cash +€495,847
up €495,847 (+235.2%), from €210,828 to €706,675
mainly Net result for the year (+€261,631) and Receivables within one year (+€180,231)
- Receivables within one year -€180,231
down €180,231 (-63.8%), from €282,315 to €102,084
of which Other amounts receivable: -€186,791
- Tangible fixed assets -€18,313
down €18,313 (-25.4%), from €72,002 to €53,689
- Reserves +€261,600
up €261,600 (+64.9%), from €403,000 to €664,600
- Tax, wage and social debts +€35,049
up €35,049 (+21.6%), from €162,274 to €197,323
- Gross operating margin +€33,326
up €33,326 (+9.0%), from €368,349 to €401,675
- Depreciation +€9,681
up €9,681 (+102.2%), from €9,475 to €19,156
- Taxes +€8,653
up €8,653 (+7.8%), from €111,354 to €120,007
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 | €569,617 | €867,923 | +€298,306 | +52.4% |
| Fixed assets | 21/28 | €72,002 | €53,689 | -€18,313 | -25.4% |
| Tangible fixed assets | 22/27 | €72,002 | €53,689 | -€18,313 | -25.4% |
| Furniture and vehicles | 24 | €72,002 | €53,689 | -€18,313 | -25.4% |
| Current assets | 29/58 | €497,615 | €814,235 | +€316,619 | +63.6% |
| Amounts receivable within one year | 40/41 | €282,315 | €102,084 | -€180,231 | -63.8% |
| Trade receivables | 40 | €61,546 | €68,106 | +€6,560 | +10.7% |
| Other amounts receivable | 41 | €220,769 | €33,978 | -€186,791 | -84.6% |
| Cash at bank and in hand | 54/58 | €210,828 | €706,675 | +€495,847 | +235.2% |
| Deferred charges and accrued income | 490/1 | €4,473 | €5,476 | +€1,003 | +22.4% |
| Total equity and liabilities | 10/49 | €569,617 | €867,923 | +€298,306 | +52.4% |
| Equity | 10/15 | €406,051 | €667,682 | +€261,631 | +64.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €403,000 | €664,600 | +€261,600 | +64.9% |
| Distributable reserves | 133 | €403,000 | €664,600 | +€261,600 | +64.9% |
| Profit (loss) carried forward | 14 | €51 | €82 | +€31 | +60.1% |
| Amounts payable | 17/49 | €163,566 | €200,241 | +€36,675 | +22.4% |
| Amounts payable within one year | 42/48 | €163,566 | €200,241 | +€36,675 | +22.4% |
| Trade debts | 44 | €1,292 | €2,918 | +€1,626 | +125.9% |
| Suppliers | 440/4 | €1,292 | €2,918 | +€1,626 | +125.9% |
| Taxes, remuneration and social security | 45 | €162,274 | €197,323 | +€35,049 | +21.6% |
| Taxes | 450/3 | €162,274 | €197,323 | +€35,049 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,475 | €19,156 | +€9,681 | +102.2% |
| Other operating charges | 640/8 | €90 | €799 | +€709 | +787.9% |
| Gross operating margin | 9900 | €368,349 | €401,675 | +€33,326 | +9.0% |
| Operating profit (loss) | 9901 | €358,783 | €381,719 | +€22,936 | +6.4% |
| Financial income | 75/76B | €33 | €9 | -€25 | -73.9% |
| Recurring financial income | 75 | €33 | €9 | -€25 | -73.9% |
| Financial charges | 65/66B | €59 | €90 | +€32 | +54.0% |
| Recurring financial charges | 65 | €59 | €90 | +€32 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €358,758 | €381,638 | +€22,880 | +6.4% |
| Income taxes | 67/77 | €111,354 | €120,007 | +€8,653 | +7.8% |
| Profit (loss) for the period | 9904 | €247,404 | €261,631 | +€14,226 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €247,404 | €261,631 | +€14,226 | +5.8% |
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 1 October 2026 via checked.be.