COTUGNO: what changed
Two financial 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.
COTUGNO
Largest movements
- Receivables within one year -€20,854
down €20,854 (-35.3%), from €59,017 to €38,162
of which Trade receivables: -€21,681
- Tangible fixed assets -€10,778
down €10,778 (-58.7%), from €18,374 to €7,596
of which Furniture and vehicles: -€10,502
- Deferred charges and accrued income -€3,785
no longer reported in 2025 (was €3,785)
- Cash +€1,607
up €1,607 (+9.6%), from €16,660 to €18,267
mainly Receivables within one year (+€20,854) and Depreciation (+€10,927)
- Intangible fixed assets +€1,601
new in 2025: €1,601
- Profit (loss) carried forward -€14,856
down €14,856 (-29.5%), from -€50,332 to -€65,188
- Other debts -€7,245
down €7,245 (-19.8%), from €36,607 to €29,362
- Trade debts -€5,371
down €5,371 (-25.4%), from €21,183 to €15,812
- Tax, wage and social debts -€4,737
down €4,737 (-33.7%), from €14,042 to €9,305
- Gross operating margin -€57,238
down €57,238 (-18.2%), from €313,672 to €256,434
- Staff costs -€28,520
down €28,520 (-10.2%), from €278,881 to €250,361
- Other operating charges +€7,675
up €7,675 (+553.0%), from €1,388 to €9,063
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 | €97,834 | €65,626 | -€32,208 | -32.9% |
| Fixed assets | 21/28 | €18,374 | €9,197 | -€9,177 | -49.9% |
| Intangible fixed assets | 21 | - | €1,601 | +€1,601 | |
| Tangible fixed assets | 22/27 | €18,374 | €7,596 | -€10,778 | -58.7% |
| Plant, machinery and equipment | 23 | €1,080 | €804 | -€276 | -25.6% |
| Furniture and vehicles | 24 | €17,294 | €6,792 | -€10,502 | -60.7% |
| Current assets | 29/58 | €79,461 | €56,429 | -€23,032 | -29.0% |
| Amounts receivable within one year | 40/41 | €59,017 | €38,162 | -€20,854 | -35.3% |
| Trade receivables | 40 | €52,412 | €30,731 | -€21,681 | -41.4% |
| Other amounts receivable | 41 | €6,604 | €7,431 | +€827 | +12.5% |
| Cash at bank and in hand | 54/58 | €16,660 | €18,267 | +€1,607 | +9.6% |
| Deferred charges and accrued income | 490/1 | €3,785 | - | -€3,785 | |
| Total equity and liabilities | 10/49 | €97,834 | €65,626 | -€32,208 | -32.9% |
| Equity | 10/15 | €26,003 | €11,147 | -€14,856 | -57.1% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €67,035 | €67,035 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,875 | €22,875 | = | 0.0% |
| Distributable reserves | 133 | €44,160 | €44,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,332 | -€65,188 | -€14,856 | -29.5% |
| Amounts payable | 17/49 | €71,832 | €54,479 | -€17,352 | -24.2% |
| Amounts payable within one year | 42/48 | €71,832 | €54,479 | -€17,352 | -24.2% |
| Trade debts | 44 | €21,183 | €15,812 | -€5,371 | -25.4% |
| Suppliers | 440/4 | €21,183 | €15,812 | -€5,371 | -25.4% |
| Taxes, remuneration and social security | 45 | €14,042 | €9,305 | -€4,737 | -33.7% |
| Remuneration and social security | 454/9 | €14,042 | €9,305 | -€4,737 | -33.7% |
| Other amounts payable | 47/48 | €36,607 | €29,362 | -€7,245 | -19.8% |
| Remuneration, social security and pensions | 62 | €278,881 | €250,361 | -€28,520 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,797 | €10,927 | +€129 | +1.2% |
| Other operating charges | 640/8 | €1,388 | €9,063 | +€7,675 | +553.0% |
| Gross operating margin | 9900 | €313,672 | €256,434 | -€57,238 | -18.2% |
| Operating profit (loss) | 9901 | €22,606 | -€13,916 | -€36,523 | |
| Financial income | 75/76B | €1,190 | €101 | -€1,089 | -91.6% |
| Recurring financial income | 75 | €1,190 | €101 | -€1,089 | -91.6% |
| Financial charges | 65/66B | €1,029 | €817 | -€212 | -20.6% |
| Recurring financial charges | 65 | €1,029 | €817 | -€212 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €22,767 | -€14,633 | -€37,400 | |
| Income taxes | 67/77 | €225 | €223 | -€2 | -1.1% |
| Profit (loss) for the period | 9904 | €22,542 | -€14,856 | -€37,398 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,542 | -€14,856 | -€37,398 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.