CO-VISIE: 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.
CO-VISIE
Largest movements
- Receivables within one year -€164,936
down €164,936 (-44.1%), from €374,138 to €209,201
of which Trade receivables: -€110,550
- Other debts -€105,228
down €105,228 (-91.9%), from €114,500 to €9,272
- Reserves -€20,678
down €20,678 (-11.7%), from €177,033 to €156,355
of which Distributable reserves: -€20,678
- Short-term financial debts -€17,425
down €17,425 (-100.0%), from €17,431 to €7
- Current portion of long-term debt -€11,504
no longer reported in 2025 (was €11,504)
- Trade debts -€10,285
down €10,285 (-94.5%), from €10,882 to €597
- Gross operating margin -€50,517
down €50,517 (-80.7%), from €62,620 to €12,102
- Other operating charges -€33,977
down €33,977 (-88.8%), from €38,250 to €4,274
- Financial charges -€12,991
down €12,991 (-85.3%), from €15,223 to €2,232
- Depreciation -€6,011
down €6,011 (-93.8%), from €6,407 to €397
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 | €378,107 | €209,841 | -€168,266 | -44.5% |
| Fixed assets | 21/28 | €3,203 | €629 | -€2,574 | -80.4% |
| Tangible fixed assets | 22/27 | €3,103 | €529 | -€2,574 | -83.0% |
| Furniture and vehicles | 24 | €1,346 | €529 | -€817 | -60.7% |
| Other tangible fixed assets | 26 | €1,757 | - | -€1,757 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €374,904 | €209,212 | -€165,692 | -44.2% |
| Amounts receivable within one year | 40/41 | €374,138 | €209,201 | -€164,936 | -44.1% |
| Trade receivables | 40 | €120,903 | €10,353 | -€110,550 | -91.4% |
| Other amounts receivable | 41 | €253,235 | €198,848 | -€54,386 | -21.5% |
| Cash at bank and in hand | 54/58 | €766 | €11 | -€755 | -98.6% |
| Total equity and liabilities | 10/49 | €378,107 | €209,841 | -€168,266 | -44.5% |
| Equity | 10/15 | €216,510 | €195,832 | -€20,678 | -9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €177,033 | €156,355 | -€20,678 | -11.7% |
| 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 | €175,173 | €154,495 | -€20,678 | -11.8% |
| Profit (loss) carried forward | 14 | €33,277 | €33,277 | = | 0.0% |
| Amounts payable | 17/49 | €161,597 | €14,009 | -€147,588 | -91.3% |
| Amounts payable within one year | 42/48 | €161,597 | €14,009 | -€147,588 | -91.3% |
| Current portion of amounts payable after more than one year | 42 | €11,504 | - | -€11,504 | |
| Financial debts | 43 | €17,431 | €7 | -€17,425 | -100.0% |
| Credit institutions | 430/8 | €17,431 | €7 | -€17,425 | -100.0% |
| Trade debts | 44 | €10,882 | €597 | -€10,285 | -94.5% |
| Suppliers | 440/4 | €10,882 | €597 | -€10,285 | -94.5% |
| Taxes, remuneration and social security | 45 | €7,279 | €4,133 | -€3,146 | -43.2% |
| Taxes | 450/3 | €5,279 | €4,133 | -€1,146 | -21.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €114,500 | €9,272 | -€105,228 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,407 | €397 | -€6,011 | -93.8% |
| Other operating charges | 640/8 | €38,250 | €4,274 | -€33,977 | -88.8% |
| Gross operating margin | 9900 | €62,620 | €12,102 | -€50,517 | -80.7% |
| Operating profit (loss) | 9901 | €17,962 | €7,432 | -€10,530 | -58.6% |
| Financial income | 75/76B | €341 | €398 | +€56 | +16.5% |
| Recurring financial income | 75 | €341 | €398 | +€56 | +16.5% |
| Financial charges | 65/66B | €15,223 | €2,232 | -€12,991 | -85.3% |
| Recurring financial charges | 65 | €15,223 | €2,232 | -€12,991 | -85.3% |
| Profit (loss) for the period before taxes | 9903 | €3,080 | €5,597 | +€2,517 | +81.7% |
| Income taxes | 67/77 | €2,120 | €2,550 | +€429 | +20.2% |
| Profit (loss) for the period | 9904 | €960 | €3,048 | +€2,088 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €960 | €3,048 | +€2,088 | +218% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.