COTRABEL: 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.
COTRABEL
Largest movements
- Receivables within one year -€292,755
down €292,755 (-67.4%), from €434,058 to €141,303
of which Other amounts receivable: -€245,602
- Intangible fixed assets +€57,239
up €57,239 (+72.8%), from €78,614 to €135,853
- Stocks and contracts +€13,729
up €13,729 (+77.2%), from €17,788 to €31,516
- Trade debts -€266,874
down €266,874 (-68.3%), from €390,775 to €123,901
- Tax, wage and social debts +€60,134
up €60,134 (+1037.4%), from €5,797 to €65,931
- Current portion of long-term debt -€25,000
no longer reported in 2025 (was €25,000)
- Reserves +€9,830
up €9,830 (+11.0%), from €89,357 to €99,187
- Turnover -€431,158
down €431,158 (-39.4%), from €1.1m to €664,479
- Goods and materials -€428,043
down €428,043 (-57.3%), from €746,599 to €318,557
of which Purchases: -€427,289
- Services and other goods -€76,519
down €76,519 (-31.2%), from €245,099 to €168,580
- Depreciation +€19,571
up €19,571 (+308.2%), from €6,350 to €25,921
- Taxes +€15,468
up €15,468 (+62.9%), from €24,605 to €40,073
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 | €530,929 | €309,018 | -€221,911 | -41.8% |
| Fixed assets | 21/28 | €78,614 | €135,853 | +€57,239 | +72.8% |
| Intangible fixed assets | 21 | €78,614 | €135,853 | +€57,239 | +72.8% |
| Current assets | 29/58 | €452,314 | €173,164 | -€279,150 | -61.7% |
| Stocks and contracts in progress | 3 | €17,788 | €31,516 | +€13,729 | +77.2% |
| Stocks | 30/36 | €17,788 | €31,516 | +€13,729 | +77.2% |
| Goods purchased for resale | 34 | €17,788 | €31,516 | +€13,729 | +77.2% |
| Amounts receivable within one year | 40/41 | €434,058 | €141,303 | -€292,755 | -67.4% |
| Trade receivables | 40 | €145,962 | €98,809 | -€47,153 | -32.3% |
| Other amounts receivable | 41 | €288,095 | €42,493 | -€245,602 | -85.3% |
| Cash at bank and in hand | 54/58 | €468 | €345 | -€123 | -26.3% |
| Total equity and liabilities | 10/49 | €530,929 | €309,018 | -€221,911 | -41.8% |
| Equity | 10/15 | €109,357 | €119,187 | +€9,830 | +9.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €89,357 | €99,187 | +€9,830 | +11.0% |
| Distributable reserves | 133 | €89,357 | €99,187 | +€9,830 | +11.0% |
| Amounts payable | 17/49 | €421,572 | €189,831 | -€231,740 | -55.0% |
| Amounts payable within one year | 42/48 | €421,572 | €189,831 | -€231,740 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €390,775 | €123,901 | -€266,874 | -68.3% |
| Suppliers | 440/4 | €390,775 | €123,901 | -€266,874 | -68.3% |
| Taxes, remuneration and social security | 45 | €5,797 | €65,931 | +€60,134 | +1037.4% |
| Taxes | 450/3 | €5,797 | €65,931 | +€60,134 | +1037.4% |
| Operating income | 70/76A | €1,095,637 | €664,479 | -€431,158 | -39.4% |
| Turnover | 70 | €1,095,637 | €664,479 | -€431,158 | -39.4% |
| Operating charges | 60/66A | €998,577 | €513,601 | -€484,975 | -48.6% |
| Goods for resale, raw materials and consumables | 60 | €746,599 | €318,557 | -€428,043 | -57.3% |
| Purchases | 600/8 | €759,574 | €332,285 | -€427,289 | -56.3% |
| Change in stocks: decrease (increase) | 609 | -€12,975 | -€13,729 | -€754 | -5.8% |
| Services and other goods | 61 | €245,099 | €168,580 | -€76,519 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,350 | €25,921 | +€19,571 | +308.2% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Operating profit (loss) | 9901 | €97,060 | €150,878 | +€53,817 | +55.4% |
| Financial income | 75/76B | €501 | - | -€501 | |
| Recurring financial income | 75 | €501 | - | -€501 | |
| Income from financial fixed assets | 750 | €488 | - | -€488 | |
| Other financial income | 752/9 | €14 | - | -€14 | |
| Financial charges | 65/66B | €1,766 | €975 | -€791 | -44.8% |
| Recurring financial charges | 65 | €1,766 | €975 | -€791 | -44.8% |
| Debt charges | 650 | €1,766 | €974 | -€792 | -44.9% |
| Other financial charges | 652/9 | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | €95,796 | €149,903 | +€54,107 | +56.5% |
| Income taxes | 67/77 | €24,605 | €40,073 | +€15,468 | +62.9% |
| Taxes | 670/3 | €24,605 | €40,073 | +€15,468 | +62.9% |
| Profit (loss) for the period | 9904 | €71,191 | €109,830 | +€38,639 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,191 | €109,830 | +€38,639 | +54.3% |
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 3 October 2026 via checked.be.