COBECO: what changed
What changed
COBECO
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€48,505
2024 · -€91,367+€42,862
Equity
€518,419
2024 · €566,924-€48,505
Cash
€199,317
2024 · €272,434-€73,117
Balance sheet total
€604,881
2024 · €704,705-€99,824
Largest movements
Assets
- Cash -€73,117
down €73,117 (-26.8%), from €272,434 to €199,317
mainly Stocks and contracts (-€54,438) and Net result for the year (-€48,505)
- Stocks and contracts +€54,438
up €54,438 (+23.3%), from €233,675 to €288,113
- Receivables within one year -€53,903
down €53,903 (-75.0%), from €71,852 to €17,949
of which Trade receivables: -€53,666
- Tangible fixed assets -€30,308
down €30,308 (-24.7%), from €122,559 to €92,251
Equity and liabilities
- Profit (loss) carried forward -€48,505
down €48,505 (-9.0%), from -€537,843 to -€586,348
- Other debts -€29,133
down €29,133 (-83.8%), from €34,773 to €5,640
- Trade debts -€14,131
down €14,131 (-20.0%), from €70,819 to €56,688
Income statement
- Gross operating margin -€93,817
down €93,817 (-56.1%), from €167,204 to €73,387
- Financial charges -€67,664
down €67,664 (-98.2%), from €68,889 to €1,225
- Staff costs -€31,656
down €31,656 (-26.7%), from €118,677 to €87,021
- Write-downs -€14,248
no longer reported in 2025 (was €14,248)
- Other operating charges -€12,507
down €12,507 (-76.5%), from €16,343 to €3,836
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€91,367
Gross operating margin
-€93,817
Staff costs
+€31,656
Depreciation
+€9,389
Write-downs
+€14,248
Other operating charges
+€12,507
Financial income
+€1,215
Financial charges
+€67,664
Result 2025
-€48,505
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€65,878
Investment
-€717
Financing
-€6,523
Cash 2024
€272,434
From operations (derived)
-€65,878
Net result for the year
-€48,505
Depreciation
+€31,025
Stocks and contracts
-€54,438
Receivables within one year
+€53,903
Deferred charges and accrued income
-€3,065
Trade debts
-€14,131
Tax, wage and social debts
-€1,680
Other debts
-€29,133
Accrued charges and deferred income
+€148
Investment (derived)
-€717
Investment in fixed assets (net)
-€717
Financing
-€6,523
Debts after one year
-€6,765
Current portion of long-term debt
+€243
Cash 2025
€199,317
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €704,705 | €604,881 | -€99,824 | -14.2% |
| Fixed assets | 21/28 | €122,683 | €92,375 | -€30,308 | -24.7% |
| Tangible fixed assets | 22/27 | €122,559 | €92,251 | -€30,308 | -24.7% |
| Land and buildings | 22 | €70,403 | €56,169 | -€14,234 | -20.2% |
| Plant, machinery and equipment | 23 | €19,404 | €11,446 | -€7,957 | -41.0% |
| Furniture and vehicles | 24 | €32,752 | €24,635 | -€8,117 | -24.8% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €582,022 | €512,506 | -€69,516 | -11.9% |
| Stocks and contracts in progress | 3 | €233,675 | €288,113 | +€54,438 | +23.3% |
| Stocks | 30/36 | €233,675 | €288,113 | +€54,438 | +23.3% |
| Amounts receivable within one year | 40/41 | €71,852 | €17,949 | -€53,903 | -75.0% |
| Trade receivables | 40 | €71,553 | €17,887 | -€53,666 | -75.0% |
| Other amounts receivable | 41 | €299 | €62 | -€237 | -79.3% |
| Cash at bank and in hand | 54/58 | €272,434 | €199,317 | -€73,117 | -26.8% |
| Deferred charges and accrued income | 490/1 | €4,062 | €7,127 | +€3,065 | +75.5% |
| Total equity and liabilities | 10/49 | €704,705 | €604,881 | -€99,824 | -14.2% |
| Equity | 10/15 | €566,924 | €518,419 | -€48,505 | -8.6% |
| Contributions | 10/11 | €599,648 | €599,648 | = | 0.0% |
| Reserves | 13 | €505,119 | €505,119 | = | 0.0% |
| Tax-exempt reserves | 132 | €455 | €455 | = | 0.0% |
| Distributable reserves | 133 | €504,664 | €504,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€537,843 | -€586,348 | -€48,505 | -9.0% |
| Amounts payable | 17/49 | €137,781 | €86,462 | -€51,319 | -37.2% |
| Amounts payable after more than one year | 17 | €23,547 | €16,781 | -€6,765 | -28.7% |
| Financial debts | 170/4 | €23,547 | €16,781 | -€6,765 | -28.7% |
| Amounts payable within one year | 42/48 | €114,234 | €69,532 | -€44,702 | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €6,523 | €6,765 | +€243 | +3.7% |
| Trade debts | 44 | €70,819 | €56,688 | -€14,131 | -20.0% |
| Suppliers | 440/4 | €70,819 | €56,688 | -€14,131 | -20.0% |
| Taxes, remuneration and social security | 45 | €2,120 | €439 | -€1,680 | -79.3% |
| Taxes | 450/3 | - | €439 | +€439 | |
| Remuneration and social security | 454/9 | €2,120 | - | -€2,120 | |
| Other amounts payable | 47/48 | €34,773 | €5,640 | -€29,133 | -83.8% |
| Accrued charges and deferred income | 492/3 | - | €148 | +€148 | |
| Remuneration, social security and pensions | 62 | €118,677 | €87,021 | -€31,656 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,414 | €31,025 | -€9,389 | -23.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,248 | - | -€14,248 | |
| Other operating charges | 640/8 | €16,343 | €3,836 | -€12,507 | -76.5% |
| Gross operating margin | 9900 | €167,204 | €73,387 | -€93,817 | -56.1% |
| Operating profit (loss) | 9901 | -€22,478 | -€48,495 | -€26,017 | -116% |
| Financial income | 75/76B | - | €1,215 | +€1,215 | |
| Recurring financial income | 75 | - | €1,215 | +€1,215 | |
| Financial charges | 65/66B | €68,889 | €1,225 | -€67,664 | -98.2% |
| Recurring financial charges | 65 | €68,889 | €1,225 | -€67,664 | -98.2% |
| Profit (loss) for the period before taxes | 9903 | -€91,367 | -€48,505 | +€42,862 | +46.9% |
| Profit (loss) for the period | 9904 | -€91,367 | -€48,505 | +€42,862 | +46.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€91,367 | -€48,505 | +€42,862 | +46.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.