KOTRI Projects: 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.
KOTRI Projects
Largest movements
- Stocks and contracts +€275,525
up €275,525 (+68.4%), from €402,909 to €678,435
- Receivables within one year +€90,901
up €90,901 (+4,033%), from €2,254 to €93,155
- Cash -€38,062
down €38,062 (-98.4%), from €38,684 to €622
mainly Stocks and contracts (-€275,525) and Receivables within one year (-€90,901)
- Other debts +€132,569
up €132,569 (+755%), from €17,556 to €150,126
- Debts after one year +€110,632
up €110,632 (+37.2%), from €297,562 to €408,195
- Short-term financial debts +€58,983
new in 2025: €58,983
of which Other loans: +€54,033
- Trade debts +€18,791
up €18,791 (+399%), from €4,707 to €23,498
- Tax, wage and social debts +€11,180
up €11,180 (+30.5%), from €36,600 to €47,780
- Financial charges +€20,642
up €20,642 (+405%), from €5,101 to €25,742
- Gross operating margin -€13,148
down €13,148 (-28.4%), from €46,240 to €33,093
- Taxes -€8,293
down €8,293 (-94.6%), from €8,769 to €475
- Other operating charges -€3,974
down €3,974 (-40.2%), from €9,898 to €5,923
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 | €443,848 | €772,211 | +€328,364 | +74.0% |
| Current assets | 29/58 | €443,848 | €772,211 | +€328,364 | +74.0% |
| Stocks and contracts in progress | 3 | €402,909 | €678,435 | +€275,525 | +68.4% |
| Stocks | 30/36 | €402,909 | €678,435 | +€275,525 | +68.4% |
| Amounts receivable within one year | 40/41 | €2,254 | €93,155 | +€90,901 | +4,033% |
| Other amounts receivable | 41 | €2,254 | €93,155 | +€90,901 | +4,033% |
| Cash at bank and in hand | 54/58 | €38,684 | €622 | -€38,062 | -98.4% |
| Total equity and liabilities | 10/49 | €443,848 | €772,211 | +€328,364 | +74.0% |
| Equity | 10/15 | €82,416 | €83,630 | +€1,214 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,816 | €65,030 | +€1,214 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €61,956 | €63,170 | +€1,214 | +2.0% |
| Amounts payable | 17/49 | €361,432 | €688,581 | +€327,149 | +90.5% |
| Amounts payable after more than one year | 17 | €297,562 | €408,195 | +€110,632 | +37.2% |
| Financial debts | 170/4 | €297,562 | €408,195 | +€110,632 | +37.2% |
| Amounts payable within one year | 42/48 | €63,870 | €280,387 | +€216,517 | +339% |
| Current portion of amounts payable after more than one year | 42 | €5,006 | - | -€5,006 | |
| Financial debts | 43 | - | €58,983 | +€58,983 | |
| Credit institutions | 430/8 | - | €4,950 | +€4,950 | |
| Other loans | 439 | - | €54,033 | +€54,033 | |
| Trade debts | 44 | €4,707 | €23,498 | +€18,791 | +399% |
| Suppliers | 440/4 | €4,707 | €23,498 | +€18,791 | +399% |
| Taxes, remuneration and social security | 45 | €36,600 | €47,780 | +€11,180 | +30.5% |
| Taxes | 450/3 | €36,600 | €47,780 | +€11,180 | +30.5% |
| Other amounts payable | 47/48 | €17,556 | €150,126 | +€132,569 | +755% |
| Other operating charges | 640/8 | €9,898 | €5,923 | -€3,974 | -40.2% |
| Gross operating margin | 9900 | €46,240 | €33,093 | -€13,148 | -28.4% |
| Operating profit (loss) | 9901 | €36,343 | €27,170 | -€9,173 | -25.2% |
| Financial income | 75/76B | - | €262 | +€262 | |
| Recurring financial income | 75 | - | €262 | +€262 | |
| Financial charges | 65/66B | €5,101 | €25,742 | +€20,642 | +405% |
| Recurring financial charges | 65 | €5,101 | €25,742 | +€20,642 | +405% |
| Profit (loss) for the period before taxes | 9903 | €31,242 | €1,690 | -€29,553 | -94.6% |
| Income taxes | 67/77 | €8,769 | €475 | -€8,293 | -94.6% |
| Profit (loss) for the period | 9904 | €22,474 | €1,214 | -€21,259 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,474 | €1,214 | -€21,259 | -94.6% |
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.