COBACO: 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.
COBACO
Largest movements
- Tangible fixed assets +€14,118
up €14,118 (+19.5%), from €72,440 to €86,558
of which Plant, machinery and equipment: +€9,864
- Receivables within one year -€11,223
down €11,223 (-7.9%), from €142,229 to €131,007
of which Trade receivables: -€70,315
- Cash -€8,410
down €8,410 (-33.4%), from €25,205 to €16,796
mainly Net result for the year (-€68,273) and Trade debts (-€56,882)
- Profit (loss) carried forward -€68,273
down €68,273 (-14.6%), from -€467,927 to -€536,200
- Trade debts -€56,882
down €56,882 (-45.2%), from €125,829 to €68,947
- Current portion of long-term debt +€47,092
up €47,092 (+116.8%), from €40,318 to €87,410
- Other debts +€44,054
up €44,054 (+60.6%), from €72,648 to €116,702
- Debts after one year +€21,585
up €21,585 (+26.9%), from €80,116 to €101,702
- Gross operating margin -€46,482
down €46,482, from €23,856 to -€22,626
- Staff costs +€11,375
new in 2025: €11,375
- Depreciation +€7,453
up €7,453 (+48.3%), from €15,442 to €22,895
- Financial charges +€5,714
up €5,714 (+82.5%), from €6,930 to €12,644
- Financial income +€2,404
up €2,404 (+324.3%), from €741 to €3,145
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 | €252,122 | €247,873 | -€4,249 | -1.7% |
| Fixed assets | 21/28 | €75,940 | €90,058 | +€14,118 | +18.6% |
| Tangible fixed assets | 22/27 | €72,440 | €86,558 | +€14,118 | +19.5% |
| Plant, machinery and equipment | 23 | €56,192 | €66,055 | +€9,864 | +17.6% |
| Furniture and vehicles | 24 | €628 | €512 | -€116 | -18.5% |
| Leasing and similar rights | 25 | €14,066 | €19,243 | +€5,177 | +36.8% |
| Other tangible fixed assets | 26 | €1,554 | €747 | -€807 | -51.9% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €176,182 | €157,816 | -€18,366 | -10.4% |
| Stocks and contracts in progress | 3 | €7,492 | €6,732 | -€760 | -10.1% |
| Stocks | 30/36 | €7,492 | €6,732 | -€760 | -10.1% |
| Amounts receivable within one year | 40/41 | €142,229 | €131,007 | -€11,223 | -7.9% |
| Trade receivables | 40 | €70,328 | €13 | -€70,315 | -100.0% |
| Other amounts receivable | 41 | €71,901 | €130,993 | +€59,092 | +82.2% |
| Cash at bank and in hand | 54/58 | €25,205 | €16,796 | -€8,410 | -33.4% |
| Deferred charges and accrued income | 490/1 | €1,256 | €3,281 | +€2,026 | +161.3% |
| Total equity and liabilities | 10/49 | €252,122 | €247,873 | -€4,249 | -1.7% |
| Equity | 10/15 | -€67,927 | -€136,200 | -€68,273 | -100.5% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€467,927 | -€536,200 | -€68,273 | -14.6% |
| Amounts payable | 17/49 | €320,049 | €384,074 | +€64,025 | +20.0% |
| Amounts payable after more than one year | 17 | €80,116 | €101,702 | +€21,585 | +26.9% |
| Financial debts | 170/4 | €80,116 | €101,702 | +€21,585 | +26.9% |
| Amounts payable within one year | 42/48 | €238,795 | €280,677 | +€41,883 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €40,318 | €87,410 | +€47,092 | +116.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €125,829 | €68,947 | -€56,882 | -45.2% |
| Suppliers | 440/4 | €125,829 | €68,947 | -€56,882 | -45.2% |
| Taxes, remuneration and social security | 45 | €0 | €7,619 | +€7,619 | |
| Taxes | 450/3 | €0 | €5,195 | +€5,195 | |
| Remuneration and social security | 454/9 | - | €2,424 | +€2,424 | |
| Other amounts payable | 47/48 | €72,648 | €116,702 | +€44,054 | +60.6% |
| Accrued charges and deferred income | 492/3 | €1,139 | €1,695 | +€557 | +48.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €11,375 | +€11,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,442 | €22,895 | +€7,453 | +48.3% |
| Other operating charges | 640/8 | €1,731 | €1,795 | +€64 | +3.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €23,856 | -€22,626 | -€46,482 | |
| Operating profit (loss) | 9901 | €6,684 | -€58,691 | -€65,374 | |
| Financial income | 75/76B | €741 | €3,145 | +€2,404 | +324.3% |
| Recurring financial income | 75 | €741 | €3,145 | +€2,404 | +324.3% |
| Financial charges | 65/66B | €6,930 | €12,644 | +€5,714 | +82.5% |
| Recurring financial charges | 65 | €6,930 | €12,644 | +€5,714 | +82.5% |
| Profit (loss) for the period before taxes | 9903 | €495 | -€68,189 | -€68,685 | |
| Income taxes | 67/77 | €1 | €84 | +€83 | +12441.8% |
| Profit (loss) for the period | 9904 | €495 | -€68,273 | -€68,768 | |
| Profit (loss) for the period to be appropriated | 9905 | €495 | -€68,273 | -€68,768 |
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 9 October 2026 via checked.be.