KOTAI MANAGEMENT: 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.
KOTAI MANAGEMENT
Largest movements
- Receivables after one year -€37,855
down €37,855 (-88.0%), from €43,000 to €5,145
- Receivables within one year -€11,708
down €11,708 (-12.2%), from €96,076 to €84,368
of which Other amounts receivable: -€12,979
- Tangible fixed assets -€9,975
down €9,975 (-27.5%), from €36,278 to €26,302
of which Furniture and vehicles: -€9,088
- Intangible fixed assets +€8,525
up €8,525 (+1,916%), from €445 to €8,970
- Cash -€7,664
down €7,664 (-4.0%), from €190,154 to €182,489
mainly Contributions, distributions and other (-€78,500) and Investment in fixed assets (net) (-€10,704)
- Reserves -€36,110
down €36,110 (-12.8%), from €281,165 to €245,055
of which Distributable reserves: -€36,110
- Tax, wage and social debts -€8,198
down €8,198 (-39.3%), from €20,846 to €12,648
- Debts after one year -€7,592
down €7,592 (-37.5%), from €20,264 to €12,671
- Trade debts -€6,792
down €6,792 (-56.1%), from €12,118 to €5,326
- Gross operating margin +€16,939
up €16,939 (+27.5%), from €61,499 to €78,437
- Depreciation +€3,848
up €3,848 (+46.3%), from €8,307 to €12,155
- Taxes +€2,655
up €2,655 (+16.9%), from €15,700 to €18,355
- Financial income -€1,490
down €1,490 (-44.1%), from €3,382 to €1,892
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 | €399,864 | €341,798 | -€58,066 | -14.5% |
| Fixed assets | 21/28 | €36,723 | €35,272 | -€1,450 | -3.9% |
| Intangible fixed assets | 21 | €445 | €8,970 | +€8,525 | +1,916% |
| Tangible fixed assets | 22/27 | €36,278 | €26,302 | -€9,975 | -27.5% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €35,390 | €26,302 | -€9,088 | -25.7% |
| Other tangible fixed assets | 26 | €887 | €0 | -€887 | -100.0% |
| Current assets | 29/58 | €363,141 | €306,526 | -€56,615 | -15.6% |
| Amounts receivable after more than one year | 29 | €43,000 | €5,145 | -€37,855 | -88.0% |
| Other amounts receivable | 291 | €43,000 | €5,145 | -€37,855 | -88.0% |
| Amounts receivable within one year | 40/41 | €96,076 | €84,368 | -€11,708 | -12.2% |
| Trade receivables | 40 | €37,505 | €38,776 | +€1,271 | +3.4% |
| Other amounts receivable | 41 | €58,571 | €45,592 | -€12,979 | -22.2% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €190,154 | €182,489 | -€7,664 | -4.0% |
| Deferred charges and accrued income | 490/1 | €8,911 | €9,523 | +€612 | +6.9% |
| Total equity and liabilities | 10/49 | €399,864 | €341,798 | -€58,066 | -14.5% |
| Equity | 10/15 | €302,700 | €266,593 | -€36,107 | -11.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €281,165 | €245,055 | -€36,110 | -12.8% |
| Tax-exempt reserves | 132 | €118,160 | €118,160 | = | 0.0% |
| Distributable reserves | 133 | €163,005 | €126,895 | -€36,110 | -22.2% |
| Profit (loss) carried forward | 14 | €1,074 | €1,078 | +€3 | +0.3% |
| Provisions and deferred taxes | 16 | €29,540 | €29,540 | = | 0.0% |
| Deferred taxes | 168 | €29,540 | €29,540 | = | 0.0% |
| Amounts payable | 17/49 | €67,624 | €45,666 | -€21,959 | -32.5% |
| Amounts payable after more than one year | 17 | €20,264 | €12,671 | -€7,592 | -37.5% |
| Financial debts | 170/4 | €20,264 | €12,671 | -€7,592 | -37.5% |
| Amounts payable within one year | 42/48 | €46,161 | €31,794 | -€14,367 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €12,397 | €13,021 | +€624 | +5.0% |
| Trade debts | 44 | €12,118 | €5,326 | -€6,792 | -56.1% |
| Suppliers | 440/4 | €12,118 | €5,326 | -€6,792 | -56.1% |
| Taxes, remuneration and social security | 45 | €20,846 | €12,648 | -€8,198 | -39.3% |
| Taxes | 450/3 | €20,846 | €12,648 | -€8,198 | -39.3% |
| Other amounts payable | 47/48 | €800 | €800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,307 | €12,155 | +€3,848 | +46.3% |
| Other operating charges | 640/8 | €2,127 | €2,757 | +€630 | +29.6% |
| Gross operating margin | 9900 | €61,499 | €78,437 | +€16,939 | +27.5% |
| Operating profit (loss) | 9901 | €51,065 | €63,525 | +€12,460 | +24.4% |
| Financial income | 75/76B | €3,382 | €1,892 | -€1,490 | -44.1% |
| Recurring financial income | 75 | €3,382 | €1,892 | -€1,490 | -44.1% |
| Financial charges | 65/66B | €3,964 | €4,669 | +€705 | +17.8% |
| Recurring financial charges | 65 | €3,964 | €4,669 | +€705 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €50,483 | €60,748 | +€10,265 | +20.3% |
| Income taxes | 67/77 | €15,700 | €18,355 | +€2,655 | +16.9% |
| Profit (loss) for the period | 9904 | €34,783 | €42,393 | +€7,610 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,783 | €42,393 | +€7,610 | +21.9% |
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 24 October 2026 via checked.be.