JEAN-LUC COTTYN: 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.
JEAN-LUC COTTYN
Largest movements
- Cash +€19,636
up €19,636 (+21.6%), from €90,717 to €110,353
mainly Net result for the year (+€14,029) and Depreciation (+€8,623)
- Tangible fixed assets -€8,623
down €8,623 (-34.8%), from €24,793 to €16,170
of which Furniture and vehicles: -€6,411
- Reserves +€7,456
up €7,456 (+7.4%), from €101,089 to €108,545
- Other debts +€4,865
new in 2025: €4,865
- Gross operating margin -€6,584
down €6,584 (-17.5%), from €37,617 to €31,034
- Taxes -€1,902
down €1,902 (-19.8%), from €9,618 to €7,716
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 | €117,150 | €130,108 | +€12,958 | +11.1% |
| Fixed assets | 21/28 | €24,793 | €16,170 | -€8,623 | -34.8% |
| Tangible fixed assets | 22/27 | €24,793 | €16,170 | -€8,623 | -34.8% |
| Plant, machinery and equipment | 23 | €5,740 | €3,527 | -€2,213 | -38.5% |
| Furniture and vehicles | 24 | €19,053 | €12,642 | -€6,411 | -33.6% |
| Current assets | 29/58 | €92,357 | €113,938 | +€21,581 | +23.4% |
| Amounts receivable within one year | 40/41 | €1,594 | €2,284 | +€690 | +43.3% |
| Other amounts receivable | 41 | €1,594 | €2,284 | +€690 | +43.3% |
| Cash at bank and in hand | 54/58 | €90,717 | €110,353 | +€19,636 | +21.6% |
| Deferred charges and accrued income | 490/1 | €46 | €1,301 | +€1,255 | +2,711% |
| Total equity and liabilities | 10/49 | €117,150 | €130,108 | +€12,958 | +11.1% |
| Equity | 10/15 | €113,489 | €120,945 | +€7,456 | +6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €101,089 | €108,545 | +€7,456 | +7.4% |
| Distributable reserves | 133 | €101,089 | €108,545 | +€7,456 | +7.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,661 | €9,162 | +€5,501 | +150% |
| Amounts payable within one year | 42/48 | €2,726 | €7,843 | +€5,117 | +188% |
| Trade debts | 44 | - | €215 | +€215 | |
| Suppliers | 440/4 | - | €215 | +€215 | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,726 | €2,764 | +€37 | +1.4% |
| Taxes | 450/3 | €2,726 | €2,764 | +€37 | +1.4% |
| Other amounts payable | 47/48 | - | €4,865 | +€4,865 | |
| Accrued charges and deferred income | 492/3 | €935 | €1,320 | +€385 | +41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,335 | €8,623 | +€289 | +3.5% |
| Other operating charges | 640/8 | €156 | €128 | -€28 | -17.9% |
| Gross operating margin | 9900 | €37,617 | €31,034 | -€6,584 | -17.5% |
| Operating profit (loss) | 9901 | €29,127 | €22,282 | -€6,844 | -23.5% |
| Financial income | 75/76B | €12 | €15 | +€3 | +25.5% |
| Recurring financial income | 75 | €12 | €15 | +€3 | +25.5% |
| Financial charges | 65/66B | €461 | €553 | +€92 | +19.9% |
| Recurring financial charges | 65 | €461 | €553 | +€92 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €28,678 | €21,745 | -€6,933 | -24.2% |
| Income taxes | 67/77 | €9,618 | €7,716 | -€1,902 | -19.8% |
| Profit (loss) for the period | 9904 | €19,060 | €14,029 | -€5,031 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,060 | €14,029 | -€5,031 | -26.4% |
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 28 October 2026 via checked.be.