COTUBEX: 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.
COTUBEX
Largest movements
- Receivables within one year -€122,321
down €122,321 (-46.5%), from €263,214 to €140,893
of which Trade receivables: -€127,451
- Cash -€9,374
down €9,374 (-20.2%), from €46,458 to €37,084
mainly Debts after one year (-€102,757) and Tax, wage and social debts (-€20,383)
- Debts after one year -€102,757
down €102,757 (-70.4%), from €145,960 to €43,203
- Tax, wage and social debts -€20,383
down €20,383 (-27.7%), from €73,500 to €53,117
of which Taxes: -€19,414
- Trade debts -€9,460
down €9,460 (-4.9%), from €194,233 to €184,773
- Profit (loss) carried forward -€8,811
down €8,811 (-6.8%), from €129,519 to €120,708
- Gross operating margin -€53,497
down €53,497 (-23.4%), from €229,100 to €175,603
- Staff costs -€36,434
down €36,434 (-18.1%), from €200,778 to €164,344
- Depreciation -€3,436
down €3,436 (-35.4%), from €9,705 to €6,269
- Taxes -€3,085
down €3,085, from €3,083 to -€2
- Financial charges -€2,310
down €2,310 (-18.8%), from €12,281 to €9,971
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €714,091 | €570,604 | -€143,487 | -20.1% |
| Fixed assets | 21/28 | €20,953 | €14,684 | -€6,269 | -29.9% |
| Tangible fixed assets | 22/27 | €19,784 | €13,515 | -€6,269 | -31.7% |
| Furniture and vehicles | 24 | €3,394 | €1,323 | -€2,071 | -61.0% |
| Other tangible fixed assets | 26 | €16,390 | €12,192 | -€4,198 | -25.6% |
| Financial fixed assets | 28 | €1,169 | €1,169 | = | 0.0% |
| Current assets | 29/58 | €693,138 | €555,920 | -€137,218 | -19.8% |
| Stocks and contracts in progress | 3 | €380,789 | €376,918 | -€3,871 | -1.0% |
| Stocks | 30/36 | €380,789 | €376,918 | -€3,871 | -1.0% |
| Amounts receivable within one year | 40/41 | €263,214 | €140,893 | -€122,321 | -46.5% |
| Trade receivables | 40 | €259,412 | €131,961 | -€127,451 | -49.1% |
| Other amounts receivable | 41 | €3,802 | €8,932 | +€5,130 | +134.9% |
| Cash at bank and in hand | 54/58 | €46,458 | €37,084 | -€9,374 | -20.2% |
| Deferred charges and accrued income | 490/1 | €2,677 | €1,025 | -€1,652 | -61.7% |
| Total equity and liabilities | 10/49 | €714,091 | €570,604 | -€143,487 | -20.1% |
| Equity | 10/15 | €283,269 | €274,458 | -€8,811 | -3.1% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €91,250 | €91,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,519 | €120,708 | -€8,811 | -6.8% |
| Amounts payable | 17/49 | €430,822 | €296,146 | -€134,676 | -31.3% |
| Amounts payable after more than one year | 17 | €145,960 | €43,203 | -€102,757 | -70.4% |
| Other amounts payable | 178/9 | €145,960 | €43,203 | -€102,757 | -70.4% |
| Amounts payable within one year | 42/48 | €284,862 | €252,943 | -€31,919 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €4,523 | - | -€4,523 | |
| Financial debts | 43 | - | €4,519 | +€4,519 | |
| Credit institutions | 430/8 | - | €4,519 | +€4,519 | |
| Trade debts | 44 | €194,233 | €184,773 | -€9,460 | -4.9% |
| Suppliers | 440/4 | €194,233 | €184,773 | -€9,460 | -4.9% |
| Advances received on contracts in progress | 46 | €1,345 | €2,038 | +€693 | +51.5% |
| Taxes, remuneration and social security | 45 | €73,500 | €53,117 | -€20,383 | -27.7% |
| Taxes | 450/3 | €39,671 | €20,257 | -€19,414 | -48.9% |
| Remuneration and social security | 454/9 | €33,829 | €32,860 | -€969 | -2.9% |
| Other amounts payable | 47/48 | €11,261 | €8,496 | -€2,765 | -24.6% |
| Remuneration, social security and pensions | 62 | €200,778 | €164,344 | -€36,434 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,705 | €6,269 | -€3,436 | -35.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,211 | +€2,211 | |
| Other operating charges | 640/8 | €2,545 | €2,096 | -€449 | -17.6% |
| Gross operating margin | 9900 | €229,100 | €175,603 | -€53,497 | -23.4% |
| Operating profit (loss) | 9901 | €16,072 | €683 | -€15,389 | -95.8% |
| Financial income | 75/76B | €877 | €475 | -€402 | -45.8% |
| Recurring financial income | 75 | €877 | €475 | -€402 | -45.8% |
| Financial charges | 65/66B | €12,281 | €9,971 | -€2,310 | -18.8% |
| Recurring financial charges | 65 | €12,281 | €9,971 | -€2,310 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €4,668 | -€8,813 | -€13,481 | |
| Income taxes | 67/77 | €3,083 | -€2 | -€3,085 | |
| Profit (loss) for the period | 9904 | €1,585 | -€8,811 | -€10,396 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,585 | -€8,811 | -€10,396 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.