COTRADE: 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.
COTRADE
Largest movements
- Tangible fixed assets +€477,008
up €477,008 (+37629.3%), from €1,268 to €478,276
of which Other tangible fixed assets: +€450,781
- Cash +€131,988
up €131,988 (+353.7%), from €37,315 to €169,304
mainly Trade debts (+€456,826) and Net result for the year (+€97,305)
- Receivables within one year -€55,275
down €55,275 (-84.7%), from €65,275 to €10,000
- Stocks and contracts +€33,430
up €33,430 (+141.6%), from €23,617 to €57,048
- Trade debts +€456,826
up €456,826 (+2583.2%), from €17,685 to €474,510
- Profit (loss) carried forward +€97,305
up €97,305 (+894.7%), from €10,875 to €108,180
- Tax, wage and social debts +€36,101
up €36,101 (+517.4%), from €6,977 to €43,078
of which Taxes: +€31,955
- Other debts -€16,419
down €16,419 (-90.0%), from €18,243 to €1,824
- Accrued charges and deferred income +€15,859
up €15,859 (+114.8%), from €13,820 to €29,679
- Gross operating margin +€201,985
up €201,985 (+741.4%), from €27,243 to €229,228
- Staff costs +€46,155
up €46,155 (+372.2%), from €12,399 to €58,554
- Taxes +€31,955
up €31,955 (+922.0%), from €3,466 to €35,421
- Other operating charges +€19,475
new in 2025: €19,475
- Depreciation +€17,736
up €17,736 (+11614.8%), from €153 to €17,888
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 | €129,100 | €718,771 | +€589,671 | +456.8% |
| Fixed assets | 21/28 | €1,268 | €478,276 | +€477,008 | +37629.3% |
| Tangible fixed assets | 22/27 | €1,268 | €478,276 | +€477,008 | +37629.3% |
| Plant, machinery and equipment | 23 | €1,268 | €27,495 | +€26,227 | +2068.9% |
| Other tangible fixed assets | 26 | - | €450,781 | +€450,781 | |
| Current assets | 29/58 | €127,832 | €240,495 | +€112,663 | +88.1% |
| Stocks and contracts in progress | 3 | €23,617 | €57,048 | +€33,430 | +141.6% |
| Stocks | 30/36 | €23,617 | €57,048 | +€33,430 | +141.6% |
| Amounts receivable within one year | 40/41 | €65,275 | €10,000 | -€55,275 | -84.7% |
| Other amounts receivable | 41 | €65,275 | €10,000 | -€55,275 | -84.7% |
| Cash at bank and in hand | 54/58 | €37,315 | €169,304 | +€131,988 | +353.7% |
| Deferred charges and accrued income | 490/1 | €1,625 | €4,144 | +€2,519 | +155.1% |
| Total equity and liabilities | 10/49 | €129,100 | €718,771 | +€589,671 | +456.8% |
| Equity | 10/15 | €72,375 | €169,680 | +€97,305 | +134.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,875 | €108,180 | +€97,305 | +894.7% |
| Amounts payable | 17/49 | €56,725 | €549,091 | +€492,367 | +868.0% |
| Amounts payable within one year | 42/48 | €42,905 | €519,412 | +€476,507 | +1110.6% |
| Trade debts | 44 | €17,685 | €474,510 | +€456,826 | +2583.2% |
| Suppliers | 440/4 | €17,685 | €474,510 | +€456,826 | +2583.2% |
| Taxes, remuneration and social security | 45 | €6,977 | €43,078 | +€36,101 | +517.4% |
| Taxes | 450/3 | €3,466 | €35,421 | +€31,955 | +922.0% |
| Remuneration and social security | 454/9 | €3,511 | €7,656 | +€4,145 | +118.1% |
| Other amounts payable | 47/48 | €18,243 | €1,824 | -€16,419 | -90.0% |
| Accrued charges and deferred income | 492/3 | €13,820 | €29,679 | +€15,859 | +114.8% |
| Remuneration, social security and pensions | 62 | €12,399 | €58,554 | +€46,155 | +372.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153 | €17,888 | +€17,736 | +11614.8% |
| Other operating charges | 640/8 | - | €19,475 | +€19,475 | |
| Gross operating margin | 9900 | €27,243 | €229,228 | +€201,985 | +741.4% |
| Operating profit (loss) | 9901 | €14,691 | €133,310 | +€118,619 | +807.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.0% |
| Financial charges | 65/66B | €263 | €585 | +€322 | +122.7% |
| Recurring financial charges | 65 | €263 | €585 | +€322 | +122.7% |
| Profit (loss) for the period before taxes | 9903 | €14,429 | €132,726 | +€118,297 | +819.9% |
| Income taxes | 67/77 | €3,466 | €35,421 | +€31,955 | +922.0% |
| Profit (loss) for the period | 9904 | €10,963 | €97,305 | +€86,341 | +787.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,963 | €97,305 | +€86,341 | +787.6% |
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.