Cobea: 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.
Cobea
Largest movements
- Tangible fixed assets -€14,636
down €14,636 (-4.1%), from €357,904 to €343,268
of which Land and buildings: -€12,466
- Cash -€11,839
down €11,839 (-39.7%), from €29,796 to €17,957
mainly Debts after one year (-€26,909) and Tax, wage and social debts (-€9,685)
- Receivables within one year -€7,348
down €7,348 (-44.5%), from €16,512 to €9,164
of which Trade receivables: -€13,284
- Debts after one year -€26,909
down €26,909 (-12.3%), from €219,511 to €192,603
- Reserves +€10,000
up €10,000 (+13.9%), from €71,750 to €81,750
- Tax, wage and social debts -€9,685
down €9,685 (-99.1%), from €9,771 to €85
- Other debts -€9,218
down €9,218 (-16.4%), from €56,328 to €47,110
- Gross operating margin +€11,859
up €11,859 (+31.6%), from €37,492 to €49,350
- Taxes +€4,065
up €4,065 (+201.2%), from €2,020 to €6,085
- Depreciation -€2,384
down €2,384 (-11.5%), from €20,765 to €18,381
- Financial charges -€1,272
down €1,272 (-9.5%), from €13,345 to €12,073
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 | €408,375 | €373,462 | -€34,913 | -8.5% |
| Formation expenses | 20 | €423 | €230 | -€193 | -45.7% |
| Fixed assets | 21/28 | €357,904 | €343,268 | -€14,636 | -4.1% |
| Tangible fixed assets | 22/27 | €357,904 | €343,268 | -€14,636 | -4.1% |
| Land and buildings | 22 | €354,891 | €342,425 | -€12,466 | -3.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,039 | €132 | -€908 | -87.3% |
| Other tangible fixed assets | 26 | €1,975 | €712 | -€1,262 | -63.9% |
| Current assets | 29/58 | €50,048 | €29,964 | -€20,084 | -40.1% |
| Amounts receivable within one year | 40/41 | €16,512 | €9,164 | -€7,348 | -44.5% |
| Trade receivables | 40 | €16,512 | €3,228 | -€13,284 | -80.4% |
| Other amounts receivable | 41 | €0 | €5,936 | +€5,936 | |
| Cash at bank and in hand | 54/58 | €29,796 | €17,957 | -€11,839 | -39.7% |
| Deferred charges and accrued income | 490/1 | €3,739 | €2,843 | -€896 | -24.0% |
| Total equity and liabilities | 10/49 | €408,375 | €373,462 | -€34,913 | -8.5% |
| Equity | 10/15 | €89,717 | €99,920 | +€10,203 | +11.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €71,750 | €81,750 | +€10,000 | +13.9% |
| Distributable reserves | 133 | €71,750 | €81,750 | +€10,000 | +13.9% |
| Profit (loss) carried forward | 14 | -€583 | -€380 | +€203 | +34.8% |
| Amounts payable | 17/49 | €318,658 | €273,542 | -€45,116 | -14.2% |
| Amounts payable after more than one year | 17 | €219,511 | €192,603 | -€26,909 | -12.3% |
| Financial debts | 170/4 | €219,511 | €192,603 | -€26,909 | -12.3% |
| Amounts payable within one year | 42/48 | €99,147 | €80,940 | -€18,207 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €25,596 | €26,909 | +€1,313 | +5.1% |
| Financial debts | 43 | €1,505 | €3,001 | +€1,496 | +99.4% |
| Credit institutions | 430/8 | €1,505 | €3,001 | +€1,496 | +99.4% |
| Trade debts | 44 | €5,947 | €3,834 | -€2,113 | -35.5% |
| Suppliers | 440/4 | €5,947 | €3,834 | -€2,113 | -35.5% |
| Taxes, remuneration and social security | 45 | €9,771 | €85 | -€9,685 | -99.1% |
| Taxes | 450/3 | €9,771 | €85 | -€9,685 | -99.1% |
| Other amounts payable | 47/48 | €56,328 | €47,110 | -€9,218 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,765 | €18,381 | -€2,384 | -11.5% |
| Other operating charges | 640/8 | €2,569 | €2,646 | +€77 | +3.0% |
| Gross operating margin | 9900 | €37,492 | €49,350 | +€11,859 | +31.6% |
| Operating profit (loss) | 9901 | €14,158 | €28,323 | +€14,165 | +100.0% |
| Financial income | 75/76B | €0 | €38 | +€38 | |
| Recurring financial income | 75 | €0 | €38 | +€38 | |
| Financial charges | 65/66B | €13,345 | €12,073 | -€1,272 | -9.5% |
| Recurring financial charges | 65 | €13,345 | €12,073 | -€1,272 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €813 | €16,288 | +€15,475 | +1902.9% |
| Income taxes | 67/77 | €2,020 | €6,085 | +€4,065 | +201.2% |
| Profit (loss) for the period | 9904 | -€1,207 | €10,203 | +€11,410 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,207 | €10,203 | +€11,410 |
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 30 September 2026 via checked.be.