DE TROYER - VAN COTTHEM: 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.
What changed
DE TROYER - VAN COTTHEM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,959
2024 · €2,423+€536
Equity
€160,485
2024 · €157,526+€2,959
Cash
€13,452
2024 · €13,272+€180
Balance sheet total
€368,183
2024 · €397,886-€29,703
Largest movements
Assets
- Tangible fixed assets -€29,704
down €29,704 (-7.8%), from €381,927 to €352,223
of which Land and buildings: -€25,165
Equity and liabilities
- Debts after one year -€21,592
down €21,592 (-12.3%), from €175,768 to €154,176
- Other debts -€7,477
down €7,477 (-19.5%), from €38,366 to €30,889
Income statement
- Financial charges -€1,211
down €1,211 (-17.1%), from €7,094 to €5,883
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.
Result 2024
€2,423
Gross operating margin
-€573
Depreciation
+€104
Other operating charges
-€278
Financial income
-€1
Financial charges
+€1,211
Taxes
+€73
Result 2025
€2,959
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.
From operations
+€29,116
Investment
-€7,450
Financing
-€21,485
Cash 2024
€13,272
From operations (derived)
+€29,116
Net result for the year
+€2,959
Depreciation
+€37,154
Receivables within one year
+€201
Smaller working-capital items
+€31
Trade debts
-€3,753
Other debts
-€7,477
Investment (derived)
-€7,450
Investment in fixed assets (net)
-€7,450
Financing
-€21,485
Debts after one year
-€21,592
Current portion of long-term debt
+€107
Cash 2025
€13,452
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €397,886 | €368,183 | -€29,703 | -7.5% |
| Fixed assets | 21/28 | €381,927 | €352,223 | -€29,704 | -7.8% |
| Tangible fixed assets | 22/27 | €381,927 | €352,223 | -€29,704 | -7.8% |
| Land and buildings | 22 | €340,832 | €315,667 | -€25,165 | -7.4% |
| Plant, machinery and equipment | 23 | €28,869 | €28,792 | -€76 | -0.3% |
| Furniture and vehicles | 24 | €12,226 | €7,764 | -€4,463 | -36.5% |
| Current assets | 29/58 | €15,959 | €15,960 | +€1 | 0.0% |
| Amounts receivable within one year | 40/41 | €1,258 | €1,057 | -€201 | -16.0% |
| Other amounts receivable | 41 | €1,258 | €1,057 | -€201 | -16.0% |
| Cash at bank and in hand | 54/58 | €13,272 | €13,452 | +€180 | +1.4% |
| Deferred charges and accrued income | 490/1 | €1,429 | €1,451 | +€22 | +1.6% |
| Total equity and liabilities | 10/49 | €397,886 | €368,183 | -€29,703 | -7.5% |
| Equity | 10/15 | €157,526 | €160,485 | +€2,959 | +1.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €54,106 | €57,065 | +€2,959 | +5.5% |
| Non-distributable reserves | 130/1 | €2,548 | €2,548 | = | 0.0% |
| Legal reserve | 130 | €2,548 | €2,548 | = | 0.0% |
| Distributable reserves | 133 | €51,559 | €54,518 | +€2,959 | +5.7% |
| Profit (loss) carried forward | 14 | €41,447 | €41,447 | = | 0.0% |
| Amounts payable | 17/49 | €240,360 | €207,698 | -€32,661 | -13.6% |
| Amounts payable after more than one year | 17 | €175,768 | €154,176 | -€21,592 | -12.3% |
| Financial debts | 170/4 | €175,768 | €154,176 | -€21,592 | -12.3% |
| Amounts payable within one year | 42/48 | €64,592 | €53,522 | -€11,070 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €22,230 | €22,337 | +€107 | +0.5% |
| Trade debts | 44 | €3,753 | - | -€3,753 | |
| Suppliers | 440/4 | €3,753 | - | -€3,753 | |
| Taxes, remuneration and social security | 45 | €242 | €296 | +€54 | +22.1% |
| Taxes | 450/3 | €242 | €296 | +€54 | +22.1% |
| Other amounts payable | 47/48 | €38,366 | €30,889 | -€7,477 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,258 | €37,154 | -€104 | -0.3% |
| Other operating charges | 640/8 | €8,904 | €9,182 | +€278 | +3.1% |
| Gross operating margin | 9900 | €58,590 | €58,017 | -€573 | -1.0% |
| Operating profit (loss) | 9901 | €12,429 | €11,681 | -€748 | -6.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €7,094 | €5,883 | -€1,211 | -17.1% |
| Recurring financial charges | 65 | €7,094 | €5,883 | -€1,211 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €5,335 | €5,798 | +€462 | +8.7% |
| Income taxes | 67/77 | €2,912 | €2,839 | -€73 | -2.5% |
| Profit (loss) for the period | 9904 | €2,423 | €2,959 | +€536 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,423 | €2,959 | +€536 | +22.1% |
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 8 October 2026 via checked.be.