KOTI-NABO: 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.
KOTI-NABO
Largest movements
- Receivables within one year +€336,804
up €336,804 (+22.2%), from €1.5m to €1.9m
of which Trade receivables: +€341,172
- Tangible fixed assets -€293,157
down €293,157 (-9.6%), from €3.1m to €2.8m
of which Land and buildings: -€151,581
- Stocks and contracts +€109,035
up €109,035 (+5.6%), from €2.0m to €2.1m
- Cash -€76,030
down €76,030 (-74.6%), from €101,964 to €25,934
mainly Investment in fixed assets (net) (-€575,406) and Debts after one year (-€453,812)
- Trade debts +€732,950
up €732,950 (+86.1%), from €851,665 to €1.6m
- Debts after one year -€453,812
down €453,812 (-23.5%), from €1.9m to €1.5m
- Reserves -€276,986
down €276,986 (-10.1%), from €2.7m to €2.5m
of which Distributable reserves: -€276,986
- Depreciation +€385,535
up €385,535 (+79.8%), from €483,028 to €868,562
- Staff costs +€241,167
up €241,167 (+17.4%), from €1.4m to €1.6m
- Taxes -€76,442
down €76,442 (-68.1%), from €112,226 to €35,783
- Gross operating margin -€69,630
down €69,630 (-2.9%), from €2.4m to €2.4m
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 | €6,753,921 | €6,836,940 | +€83,019 | +1.2% |
| Fixed assets | 21/28 | €3,056,089 | €2,762,932 | -€293,157 | -9.6% |
| Tangible fixed assets | 22/27 | €3,054,349 | €2,761,192 | -€293,157 | -9.6% |
| Land and buildings | 22 | €1,689,604 | €1,538,022 | -€151,581 | -9.0% |
| Plant, machinery and equipment | 23 | €1,042,883 | €907,588 | -€135,294 | -13.0% |
| Furniture and vehicles | 24 | €296,962 | €315,581 | +€18,619 | +6.3% |
| Assets under construction and advance payments | 27 | €24,900 | - | -€24,900 | |
| Financial fixed assets | 28 | €1,740 | €1,740 | = | 0.0% |
| Current assets | 29/58 | €3,697,832 | €4,074,008 | +€376,176 | +10.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,957,462 | €2,066,497 | +€109,035 | +5.6% |
| Stocks | 30/36 | €1,957,462 | €2,066,497 | +€109,035 | +5.6% |
| Amounts receivable within one year | 40/41 | €1,516,588 | €1,853,392 | +€336,804 | +22.2% |
| Trade receivables | 40 | €1,424,817 | €1,765,989 | +€341,172 | +23.9% |
| Other amounts receivable | 41 | €91,771 | €87,403 | -€4,368 | -4.8% |
| Cash at bank and in hand | 54/58 | €101,964 | €25,934 | -€76,030 | -74.6% |
| Deferred charges and accrued income | 490/1 | €21,818 | €28,185 | +€6,367 | +29.2% |
| Total equity and liabilities | 10/49 | €6,753,921 | €6,836,940 | +€83,019 | +1.2% |
| Equity | 10/15 | €2,808,239 | €2,531,253 | -€276,986 | -9.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,746,239 | €2,469,253 | -€276,986 | -10.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,740,039 | €2,463,053 | -€276,986 | -10.1% |
| Amounts payable | 17/49 | €3,945,682 | €4,305,687 | +€360,005 | +9.1% |
| Amounts payable after more than one year | 17 | €1,932,576 | €1,478,764 | -€453,812 | -23.5% |
| Financial debts | 170/4 | €1,932,576 | €1,478,764 | -€453,812 | -23.5% |
| Amounts payable within one year | 42/48 | €2,013,106 | €2,814,492 | +€801,387 | +39.8% |
| Current portion of amounts payable after more than one year | 42 | €515,130 | €570,512 | +€55,382 | +10.8% |
| Trade debts | 44 | €851,665 | €1,584,614 | +€732,950 | +86.1% |
| Suppliers | 440/4 | €851,665 | €1,584,614 | +€732,950 | +86.1% |
| Taxes, remuneration and social security | 45 | €196,311 | €202,643 | +€6,332 | +3.2% |
| Taxes | 450/3 | €76,572 | €57,737 | -€18,835 | -24.6% |
| Remuneration and social security | 454/9 | €119,739 | €144,906 | +€25,167 | +21.0% |
| Other amounts payable | 47/48 | €450,000 | €456,723 | +€6,723 | +1.5% |
| Accrued charges and deferred income | 492/3 | - | €12,430 | +€12,430 | |
| Remuneration, social security and pensions | 62 | €1,386,994 | €1,628,160 | +€241,167 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483,028 | €868,562 | +€385,535 | +79.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,359 | - | -€1,359 | |
| Other operating charges | 640/8 | €44,175 | €30,438 | -€13,738 | -31.1% |
| Gross operating margin | 9900 | €2,429,673 | €2,360,043 | -€69,630 | -2.9% |
| Operating profit (loss) | 9901 | €514,117 | -€167,118 | -€681,235 | |
| Financial income | 75/76B | €25,631 | €26,330 | +€698 | +2.7% |
| Recurring financial income | 75 | €25,631 | €26,330 | +€698 | +2.7% |
| Financial charges | 65/66B | €109,567 | €100,414 | -€9,152 | -8.4% |
| Recurring financial charges | 65 | €109,567 | €100,414 | -€9,152 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €430,182 | -€241,202 | -€671,384 | |
| Income taxes | 67/77 | €112,226 | €35,783 | -€76,442 | -68.1% |
| Profit (loss) for the period | 9904 | €317,956 | -€276,986 | -€594,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €317,956 | -€276,986 | -€594,942 |
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.