ES COCOON: 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.
ES COCOON
Largest movements
- Receivables after one year -€757,000
down €757,000 (-100%), from €757,000 to €0
- Financial fixed assets -€207,500
down €207,500 (-16.5%), from €1.3m to €1.0m
- Receivables within one year -€199,635
down €199,635 (-39.6%), from €504,754 to €305,119
of which Trade receivables: -€127,805
- Cash +€45,120
up €45,120 (+368%), from €12,247 to €57,368
mainly Receivables after one year (+€757,000) and Investment in fixed assets (net) (+€199,875)
- Contributions -€816,150
down €816,150 (-28.9%), from €2.8m to €2.0m
- Profit (loss) carried forward -€304,896
down €304,896 (-317%), from -€96,134 to -€401,030
- Financial charges -€2.4m
down €2.4m (-91.8%), from €2.6m to €213,555
of which Non-recurring financial charges: -€2.4m
- Gross operating margin -€598,984
down €598,984 (-92.8%), from €645,246 to €46,262
- Write-downs +€79,113
up €79,113 (+397%), from €19,918 to €99,031
- Financial income -€37,023
down €37,023 (-92.6%), from €40,001 to €2,978
- Other operating charges -€11,957
down €11,957 (-75.4%), from €15,850 to €3,893
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.
Derived cash bridge
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 | €4,052,510 | €2,879,004 | -€1.2m | -29.0% |
| Fixed assets | 21/28 | €2,751,884 | €2,514,411 | -€237,473 | -8.6% |
| Tangible fixed assets | 22/27 | €1,496,043 | €1,466,070 | -€29,973 | -2.0% |
| Land and buildings | 22 | €1,495,255 | €1,458,828 | -€36,427 | -2.4% |
| Furniture and vehicles | 24 | €788 | €7,242 | +€6,454 | +819% |
| Financial fixed assets | 28 | €1,255,842 | €1,048,342 | -€207,500 | -16.5% |
| Current assets | 29/58 | €1,300,626 | €364,592 | -€936,034 | -72.0% |
| Amounts receivable after more than one year | 29 | €757,000 | €0 | -€757,000 | -100% |
| Other amounts receivable | 291 | €757,000 | €0 | -€757,000 | -100% |
| Amounts receivable within one year | 40/41 | €504,754 | €305,119 | -€199,635 | -39.6% |
| Trade receivables | 40 | €137,680 | €9,875 | -€127,805 | -92.8% |
| Other amounts receivable | 41 | €367,074 | €295,244 | -€71,830 | -19.6% |
| Current investments | 50/53 | €0 | €924 | +€924 | |
| Cash at bank and in hand | 54/58 | €12,247 | €57,368 | +€45,120 | +368% |
| Deferred charges and accrued income | 490/1 | €26,625 | €1,182 | -€25,443 | -95.6% |
| Total equity and liabilities | 10/49 | €4,052,510 | €2,879,004 | -€1.2m | -29.0% |
| Equity | 10/15 | €3,168,500 | €2,047,455 | -€1.1m | -35.4% |
| Contributions | 10/11 | €2,828,550 | €2,012,400 | -€816,150 | -28.9% |
| Reserves | 13 | €436,084 | €436,084 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €436,084 | €436,084 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€96,134 | -€401,030 | -€304,896 | -317% |
| Provisions and deferred taxes | 16 | €145,361 | €145,361 | = | 0.0% |
| Deferred taxes | 168 | €145,361 | €145,361 | = | 0.0% |
| Amounts payable | 17/49 | €738,649 | €686,188 | -€52,461 | -7.1% |
| Amounts payable after more than one year | 17 | €184,662 | €158,451 | -€26,210 | -14.2% |
| Financial debts | 170/4 | €184,662 | €158,451 | -€26,210 | -14.2% |
| Amounts payable within one year | 42/48 | €553,987 | €527,736 | -€26,251 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €25,625 | €26,210 | +€585 | +2.3% |
| Trade debts | 44 | €390,441 | €373,125 | -€17,316 | -4.4% |
| Suppliers | 440/4 | €390,441 | €373,125 | -€17,316 | -4.4% |
| Taxes, remuneration and social security | 45 | €22,490 | €5,001 | -€17,489 | -77.8% |
| Taxes | 450/3 | €22,490 | €5,001 | -€17,489 | -77.8% |
| Other amounts payable | 47/48 | €115,431 | €123,400 | +€7,969 | +6.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €581,445 | €0 | -€581,445 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,120 | €37,598 | +€477 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,918 | €99,031 | +€79,113 | +397% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €15,850 | €3,893 | -€11,957 | -75.4% |
| Gross operating margin | 9900 | €645,246 | €46,262 | -€598,984 | -92.8% |
| Operating profit (loss) | 9901 | €572,358 | -€94,260 | -€666,617 | |
| Financial income | 75/76B | €40,001 | €2,978 | -€37,023 | -92.6% |
| Recurring financial income | 75 | €40,001 | €2,978 | -€37,023 | -92.6% |
| Financial charges | 65/66B | €2,614,265 | €213,555 | -€2.4m | -91.8% |
| Recurring financial charges | 65 | €14,265 | €6,055 | -€8,209 | -57.6% |
| Non-recurring financial charges | 66B | €2,600,000 | €207,500 | -€2.4m | -92.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,001,906 | -€304,837 | +€1.7m | +84.8% |
| Transfer to deferred taxes | 680 | €145,361 | €0 | -€145,361 | -100% |
| Income taxes | 67/77 | €5,969 | €58 | -€5,910 | -99.0% |
| Profit (loss) for the period | 9904 | -€2,153,236 | -€304,896 | +€1.8m | +85.8% |
| Transfer to tax-exempt reserves | 689 | €436,084 | €0 | -€436,084 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,589,320 | -€304,896 | +€2.3m | +88.2% |
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 15 October 2026 via checked.be.