SIMON COTTENS: 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.
SIMON COTTENS
Largest movements
- Current investments -€291,941
no longer reported in 2025 (was €291,941)
- Cash -€36,903
down €36,903 (-10.8%), from €341,185 to €304,283
mainly Contributions, distributions and other (-€633,744) and Receivables within one year (-€31,565)
- Receivables within one year +€31,565
up €31,565 (+116.6%), from €27,061 to €58,626
of which Other amounts receivable: +€21,105
- Financial fixed assets +€23,500
new in 2025: €23,500
- Reserves -€445,022
down €445,022 (-68.6%), from €648,819 to €203,797
- Other debts +€170,710
up €170,710 (+1739.8%), from €9,812 to €180,522
- Financial income +€78,644
up €78,644 (+7712.4%), from €1,020 to €79,664
- Taxes -€29,386
down €29,386 (-52.5%), from €56,006 to €26,621
- Gross operating margin -€6,419
down €6,419 (-4.3%), from €149,233 to €142,815
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 | €683,527 | €407,697 | -€275,830 | -40.4% |
| Fixed assets | 21/28 | €22,407 | €43,566 | +€21,159 | +94.4% |
| Tangible fixed assets | 22/27 | €22,407 | €20,066 | -€2,341 | -10.4% |
| Plant, machinery and equipment | 23 | €3,033 | €2,115 | -€918 | -30.3% |
| Furniture and vehicles | 24 | €19,374 | €17,951 | -€1,423 | -7.3% |
| Financial fixed assets | 28 | - | €23,500 | +€23,500 | |
| Current assets | 29/58 | €661,120 | €364,131 | -€296,989 | -44.9% |
| Amounts receivable within one year | 40/41 | €27,061 | €58,626 | +€31,565 | +116.6% |
| Trade receivables | 40 | €26,262 | €36,722 | +€10,460 | +39.8% |
| Other amounts receivable | 41 | €800 | €21,905 | +€21,105 | +2638.8% |
| Current investments | 50/53 | €291,941 | - | -€291,941 | |
| Cash at bank and in hand | 54/58 | €341,185 | €304,283 | -€36,903 | -10.8% |
| Deferred charges and accrued income | 490/1 | €932 | €1,222 | +€290 | +31.1% |
| Total equity and liabilities | 10/49 | €683,527 | €407,697 | -€275,830 | -40.4% |
| Equity | 10/15 | €667,419 | €222,397 | -€445,022 | -66.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €648,819 | €203,797 | -€445,022 | -68.6% |
| Distributable reserves | 133 | €648,819 | €203,797 | -€445,022 | -68.6% |
| Amounts payable | 17/49 | €16,108 | €185,300 | +€169,192 | +1050.3% |
| Amounts payable within one year | 42/48 | €15,056 | €185,300 | +€170,244 | +1130.7% |
| Trade debts | 44 | €894 | €428 | -€466 | -52.1% |
| Suppliers | 440/4 | €894 | €428 | -€466 | -52.1% |
| Taxes, remuneration and social security | 45 | €4,350 | €4,350 | = | 0.0% |
| Taxes | 450/3 | €4,350 | €4,350 | = | 0.0% |
| Other amounts payable | 47/48 | €9,812 | €180,522 | +€170,710 | +1739.8% |
| Accrued charges and deferred income | 492/3 | €1,052 | - | -€1,052 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,938 | €6,865 | +€927 | +15.6% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €149,233 | €142,815 | -€6,419 | -4.3% |
| Operating profit (loss) | 9901 | €143,170 | €135,822 | -€7,348 | -5.1% |
| Financial income | 75/76B | €1,020 | €79,664 | +€78,644 | +7712.4% |
| Recurring financial income | 75 | €1,020 | €79,664 | +€78,644 | +7712.4% |
| Financial charges | 65/66B | €44 | €143 | +€99 | +228.0% |
| Recurring financial charges | 65 | €44 | €143 | +€99 | +228.0% |
| Profit (loss) for the period before taxes | 9903 | €144,146 | €215,343 | +€71,198 | +49.4% |
| Income taxes | 67/77 | €56,006 | €26,621 | -€29,386 | -52.5% |
| Profit (loss) for the period | 9904 | €88,140 | €188,723 | +€100,583 | +114.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,140 | €188,723 | +€100,583 | +114.1% |
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 11 October 2026 via checked.be.