KOTRAC: 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.
KOTRAC
Largest movements
- Tangible fixed assets -€57,537
down €57,537 (-3.2%), from €1.8m to €1.8m
of which Land and buildings: -€54,776
- Tax, wage and social debts -€110,721
down €110,721 (-75.6%), from €146,552 to €35,830
- Other debts +€62,205
up €62,205 (+16.5%), from €376,663 to €438,868
- Profit (loss) carried forward -€26,712
down €26,712 (-5.0%), from €533,469 to €506,757
- Gross operating margin -€111,441
down €111,441 (-75.9%), from €146,888 to €35,447
- Taxes -€26,780
no longer reported in 2025 (was €26,780)
- Depreciation +€6,129
up €6,129 (+11.9%), from €51,408 to €57,537
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 | €2,268,678 | €2,202,166 | -€66,512 | -2.9% |
| Fixed assets | 21/28 | €1,825,401 | €1,767,864 | -€57,537 | -3.2% |
| Tangible fixed assets | 22/27 | €1,825,401 | €1,767,864 | -€57,537 | -3.2% |
| Land and buildings | 22 | €1,819,696 | €1,764,920 | -€54,776 | -3.0% |
| Furniture and vehicles | 24 | €5,705 | €2,944 | -€2,761 | -48.4% |
| Current assets | 29/58 | €443,278 | €434,303 | -€8,975 | -2.0% |
| Amounts receivable within one year | 40/41 | €6,258 | €6,632 | +€374 | +6.0% |
| Trade receivables | 40 | €5,470 | - | -€5,470 | |
| Other amounts receivable | 41 | €788 | €6,632 | +€5,844 | +742% |
| Current investments | 50/53 | €425,700 | €426,700 | +€1,000 | +0.2% |
| Cash at bank and in hand | 54/58 | €11,320 | €971 | -€10,349 | -91.4% |
| Total equity and liabilities | 10/49 | €2,268,678 | €2,202,166 | -€66,512 | -2.9% |
| Equity | 10/15 | €1,735,862 | €1,709,150 | -€26,712 | -1.5% |
| Contributions | 10/11 | €503,671 | €503,671 | = | 0.0% |
| Capital | 10 | €498,440 | €498,440 | = | 0.0% |
| Issued capital | 100 | €498,440 | €498,440 | = | 0.0% |
| Contributions outside capital | 11 | €5,231 | €5,231 | = | 0.0% |
| Share premium | 1100/10 | €5,231 | €5,231 | = | 0.0% |
| Reserves | 13 | €698,723 | €698,723 | = | 0.0% |
| Non-distributable reserves | 130/1 | €67,691 | €67,691 | = | 0.0% |
| Legal reserve | 130 | €25,822 | €25,822 | = | 0.0% |
| Reserves not available under the articles | 1311 | €41,869 | €41,869 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,031 | €16,031 | = | 0.0% |
| Distributable reserves | 133 | €615,000 | €615,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €533,469 | €506,757 | -€26,712 | -5.0% |
| Amounts payable | 17/49 | €532,817 | €493,016 | -€39,800 | -7.5% |
| Amounts payable within one year | 42/48 | €532,817 | €493,016 | -€39,800 | -7.5% |
| Trade debts | 44 | €9,602 | €18,318 | +€8,716 | +90.8% |
| Suppliers | 440/4 | €9,602 | €18,318 | +€8,716 | +90.8% |
| Taxes, remuneration and social security | 45 | €146,552 | €35,830 | -€110,721 | -75.6% |
| Taxes | 450/3 | €146,552 | €35,830 | -€110,721 | -75.6% |
| Other amounts payable | 47/48 | €376,663 | €438,868 | +€62,205 | +16.5% |
| Non-recurring operating income | 76A | €231,062 | €5,739 | -€225,323 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,408 | €57,537 | +€6,129 | +11.9% |
| Other operating charges | 640/8 | €3,639 | €3,124 | -€515 | -14.2% |
| Gross operating margin | 9900 | €146,888 | €35,447 | -€111,441 | -75.9% |
| Operating profit (loss) | 9901 | €91,841 | -€25,214 | -€117,055 | |
| Financial income | 75/76B | €66 | €225 | +€159 | +240% |
| Recurring financial income | 75 | €66 | €225 | +€159 | +240% |
| Financial charges | 65/66B | €308 | €1,722 | +€1,414 | +459% |
| Recurring financial charges | 65 | €308 | €1,722 | +€1,414 | +459% |
| Profit (loss) for the period before taxes | 9903 | €91,599 | -€26,712 | -€118,311 | |
| Income taxes | 67/77 | €26,780 | - | -€26,780 | |
| Profit (loss) for the period | 9904 | €64,819 | -€26,712 | -€91,530 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,819 | -€26,712 | -€91,530 |
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 25 October 2026 via checked.be.