Cotton Square: 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 Square
Largest movements
- Tangible fixed assets +€384,532
up €384,532 (+52.3%), from €735,638 to €1.1m
of which Land and buildings: +€385,222
- Debts after one year +€322,989
up €322,989 (+70.8%), from €456,166 to €779,155
- Other debts +€55,863
up €55,863 (+77.2%), from €72,322 to €128,185
- Profit (loss) carried forward -€44,646
down €44,646 (-325.2%), from -€13,727 to -€58,373
- Contributions +€35,000
up €35,000 (+17.5%), from €200,100 to €235,100
- Current portion of long-term debt +€12,293
up €12,293 (+69.4%), from €17,710 to €30,003
- Financial charges +€15,857
up €15,857 (+81.7%), from €19,406 to €35,263
- Gross operating margin -€8,124
down €8,124 (-21.0%), from €38,651 to €30,527
- Depreciation +€6,355
up €6,355 (+22.7%), from €28,046 to €34,401
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 | €744,905 | €1,130,773 | +€385,868 | +51.8% |
| Formation expenses | 20 | €6,853 | €8,612 | +€1,759 | +25.7% |
| Fixed assets | 21/28 | €735,638 | €1,120,170 | +€384,532 | +52.3% |
| Tangible fixed assets | 22/27 | €735,638 | €1,120,170 | +€384,532 | +52.3% |
| Land and buildings | 22 | €731,349 | €1,116,571 | +€385,222 | +52.7% |
| Plant, machinery and equipment | 23 | €4,289 | €3,599 | -€690 | -16.1% |
| Current assets | 29/58 | €2,414 | €1,991 | -€423 | -17.5% |
| Cash at bank and in hand | 54/58 | €1,688 | €626 | -€1,062 | -62.9% |
| Deferred charges and accrued income | 490/1 | €726 | €1,365 | +€639 | +88.0% |
| Total equity and liabilities | 10/49 | €744,905 | €1,130,773 | +€385,868 | +51.8% |
| Equity | 10/15 | €186,373 | €176,727 | -€9,646 | -5.2% |
| Contributions | 10/11 | €200,100 | €235,100 | +€35,000 | +17.5% |
| Profit (loss) carried forward | 14 | -€13,727 | -€58,373 | -€44,646 | -325.2% |
| Amounts payable | 17/49 | €558,532 | €954,046 | +€395,514 | +70.8% |
| Amounts payable after more than one year | 17 | €456,166 | €779,155 | +€322,989 | +70.8% |
| Financial debts | 170/4 | €456,166 | €779,155 | +€322,989 | +70.8% |
| Amounts payable within one year | 42/48 | €100,646 | €172,486 | +€71,840 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | €17,710 | €30,003 | +€12,293 | +69.4% |
| Trade debts | 44 | €10,615 | €14,299 | +€3,684 | +34.7% |
| Suppliers | 440/4 | €10,615 | €14,299 | +€3,684 | +34.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €72,322 | €128,185 | +€55,863 | +77.2% |
| Accrued charges and deferred income | 492/3 | €1,720 | €2,404 | +€684 | +39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,046 | €34,401 | +€6,355 | +22.7% |
| Other operating charges | 640/8 | €5,313 | €5,509 | +€196 | +3.7% |
| Gross operating margin | 9900 | €38,651 | €30,527 | -€8,124 | -21.0% |
| Operating profit (loss) | 9901 | €5,292 | -€9,383 | -€14,675 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €19,406 | €35,263 | +€15,857 | +81.7% |
| Recurring financial charges | 65 | €19,406 | €35,263 | +€15,857 | +81.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,111 | -€44,646 | -€30,535 | -216.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€14,111 | -€44,646 | -€30,535 | -216.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,111 | -€44,646 | -€30,535 | -216.4% |
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 3 October 2026 via checked.be.