COTTON & CLOVER: 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.
COTTON & CLOVER
Largest movements
- Current investments -€129,706
down €129,706 (-28.0%), from €462,845 to €333,139
- Tangible fixed assets +€24,519
up €24,519 (+14.2%), from €172,855 to €197,374
of which Furniture and vehicles: +€42,108
- Cash -€18,975
down €18,975 (-79.9%), from €23,758 to €4,783
mainly Net result for the year (-€106,400) and Investment in fixed assets (net) (-€35,332)
- Receivables within one year +€13,544
up €13,544 (+20.7%), from €65,323 to €78,867
of which Other amounts receivable: +€7,994
- Profit (loss) carried forward -€106,400
down €106,400 (-49.2%), from -€216,243 to -€322,643
- Financial income -€108,408
down €108,408 (-93.2%), from €116,295 to €7,887
- Gross operating margin +€48,420
up €48,420 (+32.6%), from -€148,522 to -€100,102
- Other operating charges -€7,776
down €7,776 (-77.2%), from €10,066 to €2,290
- Write-downs -€7,386
down €7,386, from €3,693 to -€3,693
- Financial charges -€3,801
down €3,801 (-37.3%), from €10,183 to €6,382
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 | €984,895 | €876,523 | -€108,372 | -11.0% |
| Fixed assets | 21/28 | €418,631 | €445,538 | +€26,906 | +6.4% |
| Tangible fixed assets | 22/27 | €172,855 | €197,374 | +€24,519 | +14.2% |
| Land and buildings | 22 | €157,659 | €143,652 | -€14,008 | -8.9% |
| Plant, machinery and equipment | 23 | €9,188 | €5,607 | -€3,581 | -39.0% |
| Furniture and vehicles | 24 | €6,007 | €48,115 | +€42,108 | +700.9% |
| Financial fixed assets | 28 | €245,776 | €248,164 | +€2,388 | +1.0% |
| Current assets | 29/58 | €566,264 | €430,986 | -€135,278 | -23.9% |
| Stocks and contracts in progress | 3 | €13,375 | €14,197 | +€822 | +6.1% |
| Stocks | 30/36 | €13,375 | €14,197 | +€822 | +6.1% |
| Amounts receivable within one year | 40/41 | €65,323 | €78,867 | +€13,544 | +20.7% |
| Trade receivables | 40 | €10,616 | €16,166 | +€5,550 | +52.3% |
| Other amounts receivable | 41 | €54,707 | €62,701 | +€7,994 | +14.6% |
| Current investments | 50/53 | €462,845 | €333,139 | -€129,706 | -28.0% |
| Cash at bank and in hand | 54/58 | €23,758 | €4,783 | -€18,975 | -79.9% |
| Deferred charges and accrued income | 490/1 | €963 | €0 | -€963 | -100.0% |
| Total equity and liabilities | 10/49 | €984,895 | €876,523 | -€108,372 | -11.0% |
| Equity | 10/15 | €874,210 | €767,810 | -€106,400 | -12.2% |
| Contributions | 10/11 | €675,130 | €675,130 | = | 0.0% |
| Reserves | 13 | €415,322 | €415,322 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €415,322 | €415,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,243 | -€322,643 | -€106,400 | -49.2% |
| Amounts payable | 17/49 | €110,685 | €108,713 | -€1,972 | -1.8% |
| Amounts payable after more than one year | 17 | €8,199 | €3,040 | -€5,159 | -62.9% |
| Financial debts | 170/4 | €8,199 | €3,040 | -€5,159 | -62.9% |
| Amounts payable within one year | 42/48 | €102,074 | €104,224 | +€2,150 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €5,092 | €5,159 | +€67 | +1.3% |
| Financial debts | 43 | €66,264 | €72,525 | +€6,262 | +9.4% |
| Credit institutions | 430/8 | €66,264 | €72,525 | +€6,262 | +9.4% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €24,542 | €25,098 | +€556 | +2.3% |
| Suppliers | 440/4 | €24,542 | €25,098 | +€556 | +2.3% |
| Taxes, remuneration and social security | 45 | €5,625 | €0 | -€5,625 | -100.0% |
| Taxes | 450/3 | €5,625 | €0 | -€5,625 | -100.0% |
| Other amounts payable | 47/48 | €551 | €1,442 | +€891 | +161.7% |
| Accrued charges and deferred income | 492/3 | €412 | €1,449 | +€1,036 | +251.4% |
| Non-recurring operating income | 76A | - | €13,756 | +€13,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,339 | €8,426 | +€1,087 | +14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,693 | -€3,693 | -€7,386 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €10,066 | €2,290 | -€7,776 | -77.2% |
| Gross operating margin | 9900 | -€148,522 | -€100,102 | +€48,420 | +32.6% |
| Operating profit (loss) | 9901 | -€169,620 | -€107,125 | +€62,495 | +36.8% |
| Financial income | 75/76B | €116,295 | €7,887 | -€108,408 | -93.2% |
| Recurring financial income | 75 | €116,295 | €7,887 | -€108,408 | -93.2% |
| Financial charges | 65/66B | €10,183 | €6,382 | -€3,801 | -37.3% |
| Recurring financial charges | 65 | €10,183 | €6,382 | -€3,801 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | -€63,508 | -€105,620 | -€42,112 | -66.3% |
| Income taxes | 67/77 | €1,213 | €780 | -€433 | -35.7% |
| Profit (loss) for the period | 9904 | -€64,721 | -€106,400 | -€41,679 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,721 | -€106,400 | -€41,679 | -64.4% |
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 6 October 2026 via checked.be.