KöTTERMANN: what changed
Two fiscal 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.
KöTTERMANN
Largest movements
- Receivables within one year -€661,555
down €661,555 (-36.0%), from €1.8m to €1.2m
of which Trade receivables: -€657,636
- Stocks and contracts -€134,039
down €134,039 (-76.1%), from €176,053 to €42,014
of which Contracts in progress: -€129,495
- Short-term financial debts -€550,000
no longer reported in 2025 (was €550,000)
- Tax, wage and social debts -€85,599
down €85,599 (-25.4%), from €337,240 to €251,641
of which Taxes: -€100,290
- Advances received -€61,976
down €61,976 (-24.7%), from €250,768 to €188,792
- Other debts -€51,447
down €51,447 (-9.1%), from €563,240 to €511,792
- Trade debts -€32,573
down €32,573 (-9.3%), from €351,944 to €319,372
- Gross operating margin -€50,686
down €50,686 (-4.4%), from €1.2m to €1.1m
- Staff costs +€26,344
up €26,344 (+7.6%), from €345,260 to €371,604
- Taxes -€17,916
down €17,916 (-9.1%), from €196,328 to €178,412
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 | €2,253,219 | €1,471,619 | -€781,600 | -34.7% |
| Fixed assets | 21/28 | €46,143 | €45,605 | -€537 | -1.2% |
| Tangible fixed assets | 22/27 | €30,286 | €29,671 | -€615 | -2.0% |
| Plant, machinery and equipment | 23 | €16,511 | €12,373 | -€4,138 | -25.1% |
| Furniture and vehicles | 24 | €10,639 | €13,464 | +€2,825 | +26.5% |
| Other tangible fixed assets | 26 | €3,136 | €3,834 | +€698 | +22.3% |
| Financial fixed assets | 28 | €15,856 | €15,934 | +€78 | +0.5% |
| Current assets | 29/58 | €2,207,076 | €1,426,013 | -€781,063 | -35.4% |
| Stocks and contracts in progress | 3 | €176,053 | €42,014 | -€134,039 | -76.1% |
| Stocks | 30/36 | €11,944 | €7,400 | -€4,543 | -38.0% |
| Contracts in progress | 37 | €164,109 | €34,614 | -€129,495 | -78.9% |
| Amounts receivable within one year | 40/41 | €1,836,135 | €1,174,580 | -€661,555 | -36.0% |
| Trade receivables | 40 | €1,832,216 | €1,174,580 | -€657,636 | -35.9% |
| Other amounts receivable | 41 | €3,919 | - | -€3,919 | |
| Cash at bank and in hand | 54/58 | €187,140 | €200,340 | +€13,200 | +7.1% |
| Deferred charges and accrued income | 490/1 | €7,748 | €9,079 | +€1,331 | +17.2% |
| Total equity and liabilities | 10/49 | €2,253,219 | €1,471,619 | -€781,600 | -34.7% |
| Equity | 10/15 | €200,000 | €200,000 | = | 0.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,053,219 | €1,271,619 | -€781,600 | -38.1% |
| Amounts payable within one year | 42/48 | €2,053,193 | €1,271,597 | -€781,595 | -38.1% |
| Financial debts | 43 | €550,000 | - | -€550,000 | |
| Other loans | 439 | €550,000 | - | -€550,000 | |
| Trade debts | 44 | €351,944 | €319,372 | -€32,573 | -9.3% |
| Suppliers | 440/4 | €351,944 | €319,372 | -€32,573 | -9.3% |
| Advances received on contracts in progress | 46 | €250,768 | €188,792 | -€61,976 | -24.7% |
| Taxes, remuneration and social security | 45 | €337,240 | €251,641 | -€85,599 | -25.4% |
| Taxes | 450/3 | €300,736 | €200,445 | -€100,290 | -33.3% |
| Remuneration and social security | 454/9 | €36,505 | €51,195 | +€14,691 | +40.2% |
| Other amounts payable | 47/48 | €563,240 | €511,792 | -€51,447 | -9.1% |
| Accrued charges and deferred income | 492/3 | €26 | €21 | -€5 | -18.3% |
| Remuneration, social security and pensions | 62 | €345,260 | €371,604 | +€26,344 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,375 | €16,417 | -€1,958 | -10.7% |
| Other operating charges | 640/8 | €7,237 | €7,864 | +€627 | +8.7% |
| Gross operating margin | 9900 | €1,152,973 | €1,102,288 | -€50,686 | -4.4% |
| Operating profit (loss) | 9901 | €782,102 | €706,403 | -€75,699 | -9.7% |
| Financial income | 75/76B | €129 | €103 | -€26 | -20.4% |
| Recurring financial income | 75 | €129 | €103 | -€26 | -20.4% |
| Financial charges | 65/66B | €22,663 | €16,302 | -€6,362 | -28.1% |
| Recurring financial charges | 65 | €22,663 | €16,302 | -€6,362 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €759,568 | €690,204 | -€69,364 | -9.1% |
| Income taxes | 67/77 | €196,328 | €178,412 | -€17,916 | -9.1% |
| Profit (loss) for the period | 9904 | €563,240 | €511,792 | -€51,447 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €563,240 | €511,792 | -€51,447 | -9.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.