COBAS: what changed
Two fiscal 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.
COBAS
Largest movements
- Tangible fixed assets -€293,208
down €293,208 (-98.3%), from €298,313 to €5,105
- Current investments -€84,583
down €84,583 (-14.1%), from €600,000 to €515,417
- Receivables within one year -€46,181
down €46,181 (-13.9%), from €333,020 to €286,840
of which Trade receivables: -€233,186
- Stocks and contracts +€27,397
up €27,397 (+17.0%), from €161,113 to €188,510
- Cash -€21,880
down €21,880 (-32.2%), from €67,961 to €46,081
mainly Trade debts (-€287,211) and Other debts (-€82,436)
- Trade debts -€287,211
down €287,211 (-99.2%), from €289,443 to €2,232
- Other debts -€82,436
down €82,436 (-53.5%), from €154,123 to €71,687
- Profit (loss) carried forward -€35,151
down €35,151 (-55.0%), from -€63,921 to -€99,072
- Gross operating margin +€27,103
up €27,103 (+40.3%), from -€67,306 to -€40,204
- Financial income +€17,143
up €17,143 (+375.7%), from €4,563 to €21,706
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 | €1,463,162 | €1,043,402 | -€419,760 | -28.7% |
| Fixed assets | 21/28 | €298,492 | €5,284 | -€293,208 | -98.2% |
| Tangible fixed assets | 22/27 | €298,313 | €5,105 | -€293,208 | -98.3% |
| Furniture and vehicles | 24 | €298,313 | €5,105 | -€293,208 | -98.3% |
| Financial fixed assets | 28 | €179 | €179 | = | 0.0% |
| Current assets | 29/58 | €1,164,670 | €1,038,118 | -€126,552 | -10.9% |
| Stocks and contracts in progress | 3 | €161,113 | €188,510 | +€27,397 | +17.0% |
| Stocks | 30/36 | €161,113 | €188,510 | +€27,397 | +17.0% |
| Amounts receivable within one year | 40/41 | €333,020 | €286,840 | -€46,181 | -13.9% |
| Trade receivables | 40 | €261,041 | €27,855 | -€233,186 | -89.3% |
| Other amounts receivable | 41 | €71,980 | €258,985 | +€187,005 | +259.8% |
| Current investments | 50/53 | €600,000 | €515,417 | -€84,583 | -14.1% |
| Cash at bank and in hand | 54/58 | €67,961 | €46,081 | -€21,880 | -32.2% |
| Deferred charges and accrued income | 490/1 | €2,576 | €1,270 | -€1,305 | -50.7% |
| Total equity and liabilities | 10/49 | €1,463,162 | €1,043,402 | -€419,760 | -28.7% |
| Equity | 10/15 | €1,002,579 | €967,428 | -€35,151 | -3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,060,300 | €1,060,300 | = | 0.0% |
| 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 | €1,058,440 | €1,058,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,921 | -€99,072 | -€35,151 | -55.0% |
| Amounts payable | 17/49 | €460,583 | €75,975 | -€384,609 | -83.5% |
| Amounts payable after more than one year | 17 | €5,714 | - | -€5,714 | |
| Financial debts | 170/4 | €5,714 | - | -€5,714 | |
| Amounts payable within one year | 42/48 | €454,869 | €74,137 | -€380,732 | -83.7% |
| Current portion of amounts payable after more than one year | 42 | €11,303 | - | -€11,303 | |
| Trade debts | 44 | €289,443 | €2,232 | -€287,211 | -99.2% |
| Suppliers | 440/4 | €289,443 | €2,232 | -€287,211 | -99.2% |
| Taxes, remuneration and social security | 45 | - | €218 | +€218 | |
| Taxes | 450/3 | - | €218 | +€218 | |
| Other amounts payable | 47/48 | €154,123 | €71,687 | -€82,436 | -53.5% |
| Accrued charges and deferred income | 492/3 | - | €1,838 | +€1,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,344 | €10,910 | -€435 | -3.8% |
| Other operating charges | 640/8 | €1,866 | €1,563 | -€302 | -16.2% |
| Gross operating margin | 9900 | -€67,306 | -€40,204 | +€27,103 | +40.3% |
| Operating profit (loss) | 9901 | -€80,516 | -€52,676 | +€27,840 | +34.6% |
| Financial income | 75/76B | €4,563 | €21,706 | +€17,143 | +375.7% |
| Recurring financial income | 75 | €4,563 | €21,706 | +€17,143 | +375.7% |
| Financial charges | 65/66B | €3,014 | €3,536 | +€522 | +17.3% |
| Recurring financial charges | 65 | €3,014 | €3,536 | +€522 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€78,967 | -€34,506 | +€44,461 | +56.3% |
| Income taxes | 67/77 | €531 | €645 | +€113 | +21.3% |
| Profit (loss) for the period | 9904 | -€79,499 | -€35,151 | +€44,348 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,499 | -€35,151 | +€44,348 | +55.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.