COTTAGE: 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.
COTTAGE
Largest movements
- Tangible fixed assets -€7,868
down €7,868 (-17.5%), from €44,934 to €37,066
of which Plant, machinery and equipment: -€6,481
- Stocks and contracts -€3,130
down €3,130 (-79.2%), from €3,950 to €820
- Receivables within one year +€1,282
up €1,282 (+107%), from €1,194 to €2,476
of which Trade receivables: +€1,282
- Deferred charges and accrued income +€1,163
new in 2025: €1,163
- Cash -€676
down €676 (-100%), from €676 to €0
mainly Net result for the year (-€15,969) and Receivables within one year (-€1,282)
- Profit (loss) carried forward -€15,969
down €15,969 (-13.2%), from -€121,153 to -€137,121
- Other debts +€3,359
up €3,359 (+2.4%), from €140,182 to €143,541
- Tax, wage and social debts +€2,185
up €2,185 (+102%), from €2,149 to €4,333
of which Taxes: +€2,156
- Advances received +€1,477
new in 2025: €1,477
- Trade debts -€584
down €584 (-7.1%), from €8,281 to €7,697
- Gross operating margin -€2,999
down €2,999 (-44.9%), from €6,680 to €3,680
- Other operating charges +€2,136
up €2,136 (+71.2%), from €3,001 to €5,136
- Staff costs -€2,105
down €2,105 (-28.4%), from €7,403 to €5,298
- Depreciation -€1,312
down €1,312 (-14.3%), from €9,180 to €7,868
- Financial charges +€1,022
up €1,022 (+313%), from €326 to €1,348
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.
Derived cash bridge
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 | €50,754 | €41,525 | -€9,230 | -18.2% |
| Fixed assets | 21/28 | €44,934 | €37,066 | -€7,868 | -17.5% |
| Tangible fixed assets | 22/27 | €44,934 | €37,066 | -€7,868 | -17.5% |
| Land and buildings | 22 | €5,266 | €4,608 | -€659 | -12.5% |
| Plant, machinery and equipment | 23 | €35,274 | €28,792 | -€6,481 | -18.4% |
| Furniture and vehicles | 24 | €4,394 | €3,666 | -€728 | -16.6% |
| Current assets | 29/58 | €5,820 | €4,459 | -€1,362 | -23.4% |
| Stocks and contracts in progress | 3 | €3,950 | €820 | -€3,130 | -79.2% |
| Stocks | 30/36 | €3,950 | €820 | -€3,130 | -79.2% |
| Amounts receivable within one year | 40/41 | €1,194 | €2,476 | +€1,282 | +107% |
| Trade receivables | 40 | - | €1,282 | +€1,282 | |
| Other amounts receivable | 41 | €1,194 | €1,194 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €676 | €0 | -€676 | -100% |
| Deferred charges and accrued income | 490/1 | - | €1,163 | +€1,163 | |
| Total equity and liabilities | 10/49 | €50,754 | €41,525 | -€9,230 | -18.2% |
| Equity | 10/15 | -€100,615 | -€116,584 | -€15,969 | -15.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €538 | €538 | = | 0.0% |
| Tax-exempt reserves | 132 | €538 | €538 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,153 | -€137,121 | -€15,969 | -13.2% |
| Amounts payable | 17/49 | €151,370 | €158,109 | +€6,739 | +4.5% |
| Amounts payable within one year | 42/48 | €150,612 | €157,136 | +€6,524 | +4.3% |
| Financial debts | 43 | - | €88 | +€88 | |
| Credit institutions | 430/8 | - | €88 | +€88 | |
| Trade debts | 44 | €8,281 | €7,697 | -€584 | -7.1% |
| Suppliers | 440/4 | €8,281 | €7,697 | -€584 | -7.1% |
| Advances received on contracts in progress | 46 | - | €1,477 | +€1,477 | |
| Taxes, remuneration and social security | 45 | €2,149 | €4,333 | +€2,185 | +102% |
| Taxes | 450/3 | €2,149 | €4,305 | +€2,156 | +100% |
| Remuneration and social security | 454/9 | - | €28 | +€28 | |
| Other amounts payable | 47/48 | €140,182 | €143,541 | +€3,359 | +2.4% |
| Accrued charges and deferred income | 492/3 | €758 | €973 | +€215 | +28.4% |
| Non-recurring operating income | 76A | - | €689 | +€689 | |
| Remuneration, social security and pensions | 62 | €7,403 | €5,298 | -€2,105 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,180 | €7,868 | -€1,312 | -14.3% |
| Other operating charges | 640/8 | €3,001 | €5,136 | +€2,136 | +71.2% |
| Gross operating margin | 9900 | €6,680 | €3,680 | -€2,999 | -44.9% |
| Operating profit (loss) | 9901 | -€12,904 | -€14,622 | -€1,718 | -13.3% |
| Financial income | 75/76B | €4 | €2 | -€2 | -60.3% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -60.3% |
| Financial charges | 65/66B | €326 | €1,348 | +€1,022 | +313% |
| Recurring financial charges | 65 | €326 | €1,348 | +€1,022 | +313% |
| Profit (loss) for the period before taxes | 9903 | -€13,226 | -€15,969 | -€2,743 | -20.7% |
| Profit (loss) for the period | 9904 | -€13,226 | -€15,969 | -€2,743 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,226 | -€15,969 | -€2,743 | -20.7% |
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 16 October 2026 via checked.be.