'COBA': 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.
'COBA'
Largest movements
- Cash +€132,455
up €132,455 (+39.8%), from €333,138 to €465,592
mainly Investment in fixed assets (net) (+€85,004) and Net result for the year (+€41,339)
- Tangible fixed assets -€90,001
down €90,001 (-69.7%), from €129,197 to €39,195
- Receivables within one year +€13,863
up €13,863 (+7,548%), from €184 to €14,047
of which Other amounts receivable: +€10,233
- Reserves +€40,500
up €40,500 (+33.7%), from €120,314 to €160,814
of which Tax-exempt reserves: +€40,500
- Provisions +€13,500
new in 2025: €13,500
- Gross operating margin +€54,930
up €54,930 (+684%), from €8,032 to €62,962
- Depreciation -€9,088
down €9,088 (-64.5%), from €14,085 to €4,997
- Financial income +€926
up €926 (+151%), from €612 to €1,538
- Other operating charges +€869
up €869 (+24.5%), from €3,547 to €4,416
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 | €462,742 | €519,047 | +€56,304 | +12.2% |
| Fixed assets | 21/28 | €129,197 | €39,195 | -€90,001 | -69.7% |
| Tangible fixed assets | 22/27 | €129,197 | €39,195 | -€90,001 | -69.7% |
| Land and buildings | 22 | €129,197 | €39,195 | -€90,001 | -69.7% |
| Current assets | 29/58 | €333,545 | €479,851 | +€146,306 | +43.9% |
| Amounts receivable within one year | 40/41 | €184 | €14,047 | +€13,863 | +7,548% |
| Trade receivables | 40 | - | €3,630 | +€3,630 | |
| Other amounts receivable | 41 | €184 | €10,417 | +€10,233 | +5,572% |
| Cash at bank and in hand | 54/58 | €333,138 | €465,592 | +€132,455 | +39.8% |
| Deferred charges and accrued income | 490/1 | €224 | €212 | -€12 | -5.4% |
| Total equity and liabilities | 10/49 | €462,742 | €519,047 | +€56,304 | +12.2% |
| Equity | 10/15 | €461,963 | €502,759 | +€40,796 | +8.8% |
| Contributions | 10/11 | €19,340 | €19,340 | = | 0.0% |
| Reserves | 13 | €120,314 | €160,814 | +€40,500 | +33.7% |
| Tax-exempt reserves | 132 | - | €40,500 | +€40,500 | |
| Distributable reserves | 133 | €120,314 | €120,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | €322,309 | €322,605 | +€296 | +0.1% |
| Provisions and deferred taxes | 16 | - | €13,500 | +€13,500 | |
| Deferred taxes | 168 | - | €13,500 | +€13,500 | |
| Amounts payable | 17/49 | €779 | €2,788 | +€2,008 | +258% |
| Amounts payable within one year | 42/48 | €779 | €2,788 | +€2,008 | +258% |
| Trade debts | 44 | €779 | €2,008 | +€1,229 | +158% |
| Suppliers | 440/4 | €779 | €2,008 | +€1,229 | +158% |
| Other amounts payable | 47/48 | - | €779 | +€779 | |
| Non-recurring operating income | 76A | - | €106,756 | +€106,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,085 | €4,997 | -€9,088 | -64.5% |
| Other operating charges | 640/8 | €3,547 | €4,416 | +€869 | +24.5% |
| Gross operating margin | 9900 | €8,032 | €62,962 | +€54,930 | +684% |
| Operating profit (loss) | 9901 | -€9,600 | €53,549 | +€63,149 | |
| Financial income | 75/76B | €612 | €1,538 | +€926 | +151% |
| Recurring financial income | 75 | €612 | €1,538 | +€926 | +151% |
| Financial charges | 65/66B | €74 | €248 | +€175 | +238% |
| Recurring financial charges | 65 | €74 | €248 | +€175 | +238% |
| Profit (loss) for the period before taxes | 9903 | -€9,062 | €54,839 | +€63,900 | |
| Transfer to deferred taxes | 680 | - | €13,500 | +€13,500 | |
| Profit (loss) for the period | 9904 | -€9,062 | €41,339 | +€50,400 | |
| Transfer to tax-exempt reserves | 689 | - | €40,500 | +€40,500 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,062 | €839 | +€9,900 |
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 14 October 2026 via checked.be.