COTTYN: 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.
COTTYN
Largest movements
- Intangible fixed assets -€224,443
down €224,443 (-25.0%), from €897,774 to €673,330
- Receivables within one year +€177,454
up €177,454 (+9.1%), from €1.9m to €2.1m
of which Trade receivables: +€107,413
- Tangible fixed assets -€119,850
down €119,850 (-13.8%), from €868,831 to €748,981
of which Leasing and similar rights: -€136,900
- Deferred charges and accrued income +€64,140
up €64,140 (+144.2%), from €44,491 to €108,630
- Current portion of long-term debt -€236,033
down €236,033 (-66.6%), from €354,205 to €118,173
- Tax, wage and social debts +€59,456
up €59,456 (+44.6%), from €133,445 to €192,901
of which Remuneration and social security: +€85,191
- Accrued charges and deferred income +€42,960
up €42,960 (+51.2%), from €83,883 to €126,844
- Gross operating margin +€136,944
up €136,944 (+11.8%), from €1.2m to €1.3m
- Staff costs +€80,653
up €80,653 (+13.1%), from €615,666 to €696,319
- Financial income -€23,385
down €23,385 (-99.2%), from €23,579 to €194
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 | €3,984,553 | €3,892,287 | -€92,267 | -2.3% |
| Fixed assets | 21/28 | €1,909,909 | €1,570,615 | -€339,294 | -17.8% |
| Intangible fixed assets | 21 | €897,774 | €673,330 | -€224,443 | -25.0% |
| Tangible fixed assets | 22/27 | €868,831 | €748,981 | -€119,850 | -13.8% |
| Land and buildings | 22 | - | €2,975 | +€2,975 | |
| Plant, machinery and equipment | 23 | €24,633 | €35,993 | +€11,359 | +46.1% |
| Furniture and vehicles | 24 | €4,795 | €7,510 | +€2,715 | +56.6% |
| Leasing and similar rights | 25 | €839,403 | €702,503 | -€136,900 | -16.3% |
| Financial fixed assets | 28 | €143,304 | €148,304 | +€5,000 | +3.5% |
| Current assets | 29/58 | €2,074,644 | €2,321,671 | +€247,027 | +11.9% |
| Amounts receivable within one year | 40/41 | €1,943,235 | €2,120,689 | +€177,454 | +9.1% |
| Trade receivables | 40 | €1,352,835 | €1,460,249 | +€107,413 | +7.9% |
| Other amounts receivable | 41 | €590,400 | €660,441 | +€70,040 | +11.9% |
| Cash at bank and in hand | 54/58 | €86,918 | €92,352 | +€5,434 | +6.3% |
| Deferred charges and accrued income | 490/1 | €44,491 | €108,630 | +€64,140 | +144.2% |
| Total equity and liabilities | 10/49 | €3,984,553 | €3,892,287 | -€92,267 | -2.3% |
| Equity | 10/15 | €536,378 | €567,841 | +€31,463 | +5.9% |
| Contributions | 10/11 | €625,200 | €625,200 | = | 0.0% |
| Capital | 10 | €625,200 | €625,200 | = | 0.0% |
| Issued capital | 100 | €625,200 | €625,200 | = | 0.0% |
| Reserves | 13 | €190,777 | €190,777 | = | 0.0% |
| Non-distributable reserves | 130/1 | €69,553 | €69,553 | = | 0.0% |
| Legal reserve | 130 | €69,553 | €69,553 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,750 | €27,750 | = | 0.0% |
| Distributable reserves | 133 | €93,474 | €93,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,599 | -€248,136 | +€31,463 | +11.3% |
| Amounts payable | 17/49 | €3,448,175 | €3,324,446 | -€123,730 | -3.6% |
| Amounts payable after more than one year | 17 | €851,483 | €851,483 | = | 0.0% |
| Financial debts | 170/4 | €851,483 | €851,483 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,512,808 | €2,346,119 | -€166,690 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €354,205 | €118,173 | -€236,033 | -66.6% |
| Financial debts | 43 | €793,076 | €818,076 | +€25,000 | +3.2% |
| Credit institutions | 430/8 | €285,014 | €310,014 | +€25,000 | +8.8% |
| Other loans | 439 | €508,062 | €508,062 | = | 0.0% |
| Trade debts | 44 | €777,046 | €788,724 | +€11,679 | +1.5% |
| Suppliers | 440/4 | €777,046 | €788,724 | +€11,679 | +1.5% |
| Taxes, remuneration and social security | 45 | €133,445 | €192,901 | +€59,456 | +44.6% |
| Taxes | 450/3 | €37,650 | €11,916 | -€25,735 | -68.4% |
| Remuneration and social security | 454/9 | €95,794 | €180,985 | +€85,191 | +88.9% |
| Other amounts payable | 47/48 | €455,037 | €428,245 | -€26,792 | -5.9% |
| Accrued charges and deferred income | 492/3 | €83,883 | €126,844 | +€42,960 | +51.2% |
| Remuneration, social security and pensions | 62 | €615,666 | €696,319 | +€80,653 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €378,086 | €368,218 | -€9,868 | -2.6% |
| Other operating charges | 640/8 | €3,804 | €3,524 | -€281 | -7.4% |
| Gross operating margin | 9900 | €1,163,777 | €1,300,721 | +€136,944 | +11.8% |
| Operating profit (loss) | 9901 | €166,221 | €232,660 | +€66,439 | +40.0% |
| Financial income | 75/76B | €23,579 | €194 | -€23,385 | -99.2% |
| Recurring financial income | 75 | €23,579 | €194 | -€23,385 | -99.2% |
| Financial charges | 65/66B | €107,551 | €108,891 | +€1,340 | +1.2% |
| Recurring financial charges | 65 | €107,551 | €108,891 | +€1,340 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €82,249 | €123,963 | +€41,714 | +50.7% |
| Income taxes | 67/77 | €81,007 | €92,500 | +€11,493 | +14.2% |
| Profit (loss) for the period | 9904 | €1,243 | €31,463 | +€30,220 | +2432.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,243 | €31,463 | +€30,220 | +2432.2% |
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 29 September 2026 via checked.be.