JAN COTTIGNIE: 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.
JAN COTTIGNIE
Largest movements
- Cash -€47,180
down €47,180 (-93.6%), from €50,382 to €3,202
mainly Other debts (-€79,394) and Investment in fixed assets (net) (-€9,940)
- Intangible fixed assets -€15,144
down €15,144 (-16.7%), from €90,864 to €75,720
- Tangible fixed assets +€9,550
new in 2025: €9,550
- Receivables within one year +€4,840
up €4,840 (+100%), from €4,840 to €9,680
of which Trade receivables: +€4,840
- Other debts -€79,394
down €79,394 (-24.9%), from €318,975 to €239,581
- Profit (loss) carried forward +€36,118
up €36,118 (+11.3%), from -€318,592 to -€282,475
- Tax, wage and social debts -€5,062
down €5,062 (-90.8%), from €5,578 to €515
- Depreciation +€15,534
new in 2025: €15,534
- Gross operating margin -€4,771
down €4,771 (-8.2%), from €58,343 to €53,571
- Financial charges +€1,307
up €1,307 (+1,452%), from €90 to €1,397
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 | €146,086 | €98,152 | -€47,935 | -32.8% |
| Fixed assets | 21/28 | €90,864 | €85,270 | -€5,594 | -6.2% |
| Intangible fixed assets | 21 | €90,864 | €75,720 | -€15,144 | -16.7% |
| Tangible fixed assets | 22/27 | - | €9,550 | +€9,550 | |
| Furniture and vehicles | 24 | - | €9,550 | +€9,550 | |
| Current assets | 29/58 | €55,222 | €12,882 | -€42,340 | -76.7% |
| Amounts receivable within one year | 40/41 | €4,840 | €9,680 | +€4,840 | +100% |
| Trade receivables | 40 | €4,840 | €9,680 | +€4,840 | +100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €50,382 | €3,202 | -€47,180 | -93.6% |
| Total equity and liabilities | 10/49 | €146,086 | €98,152 | -€47,935 | -32.8% |
| Equity | 10/15 | -€178,592 | -€142,475 | +€36,118 | +20.2% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€318,592 | -€282,475 | +€36,118 | +11.3% |
| Amounts payable | 17/49 | €324,679 | €240,627 | -€84,052 | -25.9% |
| Amounts payable within one year | 42/48 | €324,679 | €240,627 | -€84,052 | -25.9% |
| Trade debts | 44 | €126 | €530 | +€404 | +321% |
| Suppliers | 440/4 | €126 | €530 | +€404 | +321% |
| Taxes, remuneration and social security | 45 | €5,578 | €515 | -€5,062 | -90.8% |
| Taxes | 450/3 | €5,578 | €515 | -€5,062 | -90.8% |
| Other amounts payable | 47/48 | €318,975 | €239,581 | -€79,394 | -24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €15,534 | +€15,534 | |
| Other operating charges | 640/8 | €607 | €623 | +€15 | +2.5% |
| Gross operating margin | 9900 | €58,343 | €53,571 | -€4,771 | -8.2% |
| Operating profit (loss) | 9901 | €57,735 | €37,414 | -€20,321 | -35.2% |
| Financial income | 75/76B | - | €100 | +€100 | |
| Recurring financial income | 75 | - | €100 | +€100 | |
| Financial charges | 65/66B | €90 | €1,397 | +€1,307 | +1,452% |
| Recurring financial charges | 65 | €90 | €1,397 | +€1,307 | +1,452% |
| Profit (loss) for the period before taxes | 9903 | €57,645 | €36,118 | -€21,528 | -37.3% |
| Profit (loss) for the period | 9904 | €57,645 | €36,118 | -€21,528 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,645 | €36,118 | -€21,528 | -37.3% |
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 18 October 2026 via checked.be.