COBAR: 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.
COBAR
Largest movements
- Cash +€70,678
up €70,678 (+166%), from €42,606 to €113,284
mainly Net result for the year (+€50,036) and Receivables within one year (+€29,984)
- Receivables within one year -€29,984
down €29,984 (-63.5%), from €47,246 to €17,263
of which Trade receivables: -€30,138
- Receivables after one year +€9,453
up €9,453 (+7.2%), from €132,134 to €141,587
- Reserves +€49,177
up €49,177 (+22.1%), from €222,609 to €271,786
- Gross operating margin -€587
down €587 (-1.0%), from €56,456 to €55,869
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 | €326,223 | €375,850 | +€49,628 | +15.2% |
| Fixed assets | 21/28 | €104,237 | €103,717 | -€520 | -0.5% |
| Tangible fixed assets | 22/27 | €2,032 | €1,512 | -€520 | -25.6% |
| Plant, machinery and equipment | 23 | €465 | €222 | -€243 | -52.3% |
| Other tangible fixed assets | 26 | €1,567 | €1,290 | -€277 | -17.6% |
| Financial fixed assets | 28 | €102,205 | €102,205 | = | 0.0% |
| Current assets | 29/58 | €221,986 | €272,133 | +€50,147 | +22.6% |
| Amounts receivable after more than one year | 29 | €132,134 | €141,587 | +€9,453 | +7.2% |
| Other amounts receivable | 291 | €132,134 | €141,587 | +€9,453 | +7.2% |
| Amounts receivable within one year | 40/41 | €47,246 | €17,263 | -€29,984 | -63.5% |
| Trade receivables | 40 | €45,375 | €15,238 | -€30,138 | -66.4% |
| Other amounts receivable | 41 | €1,871 | €2,025 | +€154 | +8.2% |
| Cash at bank and in hand | 54/58 | €42,606 | €113,284 | +€70,678 | +166% |
| Total equity and liabilities | 10/49 | €326,223 | €375,850 | +€49,628 | +15.2% |
| Equity | 10/15 | €241,209 | €290,386 | +€49,177 | +20.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,609 | €271,786 | +€49,177 | +22.1% |
| Distributable reserves | 133 | €222,609 | €271,786 | +€49,177 | +22.1% |
| Amounts payable | 17/49 | €85,014 | €85,465 | +€451 | +0.5% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,014 | €5,465 | +€451 | +9.0% |
| Trade debts | 44 | €165 | €92 | -€72 | -43.9% |
| Suppliers | 440/4 | €165 | €92 | -€72 | -43.9% |
| Taxes, remuneration and social security | 45 | €2,837 | €2,799 | -€38 | -1.4% |
| Taxes | 450/3 | €2,837 | €2,799 | -€38 | -1.4% |
| Other amounts payable | 47/48 | €2,012 | €2,574 | +€561 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €520 | €520 | = | 0.0% |
| Gross operating margin | 9900 | €56,456 | €55,869 | -€587 | -1.0% |
| Operating profit (loss) | 9901 | €55,936 | €55,349 | -€587 | -1.0% |
| Financial income | 75/76B | €9,947 | €9,453 | -€494 | -5.0% |
| Recurring financial income | 75 | €9,947 | €9,453 | -€494 | -5.0% |
| Financial charges | 65/66B | €1,706 | €1,791 | +€85 | +5.0% |
| Recurring financial charges | 65 | €1,706 | €1,791 | +€85 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €64,177 | €63,011 | -€1,166 | -1.8% |
| Income taxes | 67/77 | €13,146 | €12,975 | -€171 | -1.3% |
| Profit (loss) for the period | 9904 | €51,031 | €50,036 | -€995 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,031 | €50,036 | -€995 | -1.9% |
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.