Cottenier-Desmedt: what changed
Cottenier-Desmedt
Largest movements
- Tangible fixed assets +€419,109
up €419,109 (+936%), from €44,791 to €463,900
of which Land and buildings: +€421,081
- Cash -€151,016
down €151,016 (-89.0%), from €169,651 to €18,635
mainly Investment in fixed assets (net) (-€489,477) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€6,790
up €6,790 (+37.9%), from €17,896 to €24,686
of which Other amounts receivable: +€7,687
- Debts after one year +€298,818
up €298,818 (+1,280%), from €23,352 to €322,171
- Reserves -€91,705
down €91,705 (-51.4%), from €178,243 to €86,537
- Other debts +€49,525
up €49,525 (+464%), from €10,672 to €60,196
- Current portion of long-term debt +€22,638
up €22,638 (+320%), from €7,077 to €29,715
- Tax, wage and social debts -€5,566
down €5,566 (-82.3%), from €6,766 to €1,200
- Depreciation +€58,025
up €58,025 (+470%), from €12,342 to €70,368
- Gross operating margin -€24,452
down €24,452 (-21.3%), from €114,588 to €90,136
- Taxes -€15,753
down €15,753 (-78.5%), from €20,066 to €4,313
- Financial charges +€3,888
up €3,888 (+295%), from €1,319 to €5,208
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €233,475 | €509,700 | +€276,225 | +118% |
| Fixed assets | 21/28 | €44,791 | €463,900 | +€419,109 | +936% |
| Tangible fixed assets | 22/27 | €44,791 | €463,900 | +€419,109 | +936% |
| Land and buildings | 22 | - | €421,081 | +€421,081 | |
| Plant, machinery and equipment | 23 | - | €10,904 | +€10,904 | |
| Furniture and vehicles | 24 | €44,791 | €31,915 | -€12,876 | -28.7% |
| Current assets | 29/58 | €188,684 | €45,800 | -€142,884 | -75.7% |
| Amounts receivable within one year | 40/41 | €17,896 | €24,686 | +€6,790 | +37.9% |
| Trade receivables | 40 | €17,896 | €16,999 | -€897 | -5.0% |
| Other amounts receivable | 41 | €0 | €7,687 | +€7,687 | |
| Cash at bank and in hand | 54/58 | €169,651 | €18,635 | -€151,016 | -89.0% |
| Deferred charges and accrued income | 490/1 | €1,137 | €2,478 | +€1,341 | +118% |
| Total equity and liabilities | 10/49 | €233,475 | €509,700 | +€276,225 | +118% |
| Equity | 10/15 | €183,243 | €91,537 | -€91,705 | -50.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €178,243 | €86,537 | -€91,705 | -51.4% |
| Distributable reserves | 133 | €178,243 | €86,537 | -€91,705 | -51.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,232 | €418,163 | +€367,930 | +732% |
| Amounts payable after more than one year | 17 | €23,352 | €322,171 | +€298,818 | +1,280% |
| Financial debts | 170/4 | €23,352 | €322,171 | +€298,818 | +1,280% |
| Amounts payable within one year | 42/48 | €24,631 | €93,222 | +€68,590 | +278% |
| Current portion of amounts payable after more than one year | 42 | €7,077 | €29,715 | +€22,638 | +320% |
| Trade debts | 44 | €117 | €2,110 | +€1,994 | +1,706% |
| Suppliers | 440/4 | €117 | €2,110 | +€1,994 | +1,706% |
| Taxes, remuneration and social security | 45 | €6,766 | €1,200 | -€5,566 | -82.3% |
| Taxes | 450/3 | €6,766 | €1,200 | -€5,566 | -82.3% |
| Other amounts payable | 47/48 | €10,672 | €60,196 | +€49,525 | +464% |
| Accrued charges and deferred income | 492/3 | €2,249 | €2,770 | +€521 | +23.2% |
| Non-recurring operating income | 76A | €2,400 | €0 | -€2,400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,342 | €70,368 | +€58,025 | +470% |
| Other operating charges | 640/8 | €902 | €1,826 | +€924 | +102% |
| Non-recurring operating charges | 66A | €285 | €127 | -€158 | -55.5% |
| Gross operating margin | 9900 | €114,588 | €90,136 | -€24,452 | -21.3% |
| Operating profit (loss) | 9901 | €101,058 | €17,815 | -€83,242 | -82.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €1,319 | €5,208 | +€3,888 | +295% |
| Recurring financial charges | 65 | €1,319 | €5,208 | +€3,888 | +295% |
| Profit (loss) for the period before taxes | 9903 | €99,738 | €12,607 | -€87,131 | -87.4% |
| Income taxes | 67/77 | €20,066 | €4,313 | -€15,753 | -78.5% |
| Profit (loss) for the period | 9904 | €79,673 | €8,295 | -€71,378 | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,673 | €8,295 | -€71,378 | -89.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.