KOTANIDIS: 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.
KOTANIDIS
Largest movements
- Tangible fixed assets +€66,915
up €66,915 (+11534.8%), from €580 to €67,496
- Cash -€19,158
down €19,158 (-8.1%), from €237,558 to €218,400
mainly Investment in fixed assets (net) (-€79,872) and Tax, wage and social debts (-€16,892)
- Receivables within one year -€5,992
down €5,992 (-79.9%), from €7,500 to €1,508
of which Trade receivables: -€7,500
- Reserves +€68,900
up €68,900 (+32.0%), from €215,400 to €284,300
- Tax, wage and social debts -€16,892
down €16,892 (-75.1%), from €22,496 to €5,604
- Other debts -€9,672
down €9,672 (-86.6%), from €11,168 to €1,496
- Depreciation +€12,440
up €12,440 (+2667.9%), from €466 to €12,906
- Gross operating margin -€9,035
down €9,035 (-7.1%), from €128,065 to €119,030
- Taxes -€7,464
down €7,464 (-20.0%), from €37,260 to €29,796
- Other operating charges +€5,334
up €5,334 (+1353.8%), from €394 to €5,728
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,906 | €302,880 | +€41,975 | +16.1% |
| Fixed assets | 21/28 | €580 | €67,546 | +€66,965 | +11543.4% |
| Tangible fixed assets | 22/27 | €580 | €67,496 | +€66,915 | +11534.8% |
| Furniture and vehicles | 24 | €580 | €67,496 | +€66,915 | +11534.8% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €260,325 | €235,335 | -€24,991 | -9.6% |
| Amounts receivable within one year | 40/41 | €7,500 | €1,508 | -€5,992 | -79.9% |
| Trade receivables | 40 | €7,500 | - | -€7,500 | |
| Other amounts receivable | 41 | - | €1,508 | +€1,508 | |
| Cash at bank and in hand | 54/58 | €237,558 | €218,400 | -€19,158 | -8.1% |
| Deferred charges and accrued income | 490/1 | €15,267 | €15,426 | +€159 | +1.0% |
| Total equity and liabilities | 10/49 | €260,906 | €302,880 | +€41,975 | +16.1% |
| Equity | 10/15 | €226,457 | €295,376 | +€68,918 | +30.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €215,400 | €284,300 | +€68,900 | +32.0% |
| Distributable reserves | 133 | €215,400 | €284,300 | +€68,900 | +32.0% |
| Profit (loss) carried forward | 14 | €1,057 | €1,076 | +€18 | +1.7% |
| Amounts payable | 17/49 | €34,448 | €7,504 | -€26,944 | -78.2% |
| Amounts payable within one year | 42/48 | €34,448 | €7,504 | -€26,944 | -78.2% |
| Trade debts | 44 | €784 | €404 | -€379 | -48.4% |
| Suppliers | 440/4 | €784 | €404 | -€379 | -48.4% |
| Taxes, remuneration and social security | 45 | €22,496 | €5,604 | -€16,892 | -75.1% |
| Taxes | 450/3 | €22,496 | €5,604 | -€16,892 | -75.1% |
| Other amounts payable | 47/48 | €11,168 | €1,496 | -€9,672 | -86.6% |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466 | €12,906 | +€12,440 | +2667.9% |
| Other operating charges | 640/8 | €394 | €5,728 | +€5,334 | +1353.8% |
| Gross operating margin | 9900 | €128,065 | €119,030 | -€9,035 | -7.1% |
| Operating profit (loss) | 9901 | €127,205 | €100,395 | -€26,809 | -21.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €923 | €81 | -€842 | -91.2% |
| Recurring financial charges | 65 | €923 | €81 | -€842 | -91.2% |
| Profit (loss) for the period before taxes | 9903 | €126,282 | €100,315 | -€25,967 | -20.6% |
| Income taxes | 67/77 | €37,260 | €29,796 | -€7,464 | -20.0% |
| Profit (loss) for the period | 9904 | €89,021 | €70,518 | -€18,503 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €89,021 | €70,518 | -€18,503 | -20.8% |
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 12 October 2026 via checked.be.