COBEL D: 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.
COBEL D
Largest movements
- Deferred charges and accrued income -€23,280
no longer reported in 2025 (was €23,280)
- Receivables within one year +€15,640
up €15,640 (+422%), from €3,708 to €19,347
- Intangible fixed assets +€8,761
new in 2025: €8,761
- Tangible fixed assets -€7,428
down €7,428 (-26.1%), from €28,442 to €21,014
of which Plant, machinery and equipment: -€6,740
- Profit (loss) carried forward -€16,284
down €16,284 (-2.9%), from -€557,073 to -€573,357
- Trade debts +€7,180
up €7,180 (+9.3%), from €76,836 to €84,017
- Other debts +€2,000
up €2,000 (+0.4%), from €446,849 to €448,849
- Gross operating margin -€10,957
down €10,957, from €6,724 to -€4,233
- Depreciation +€1,919
up €1,919 (+25.8%), from €7,428 to €9,347
- Other operating charges +€838
up €838 (+170%), from €493 to €1,331
- Financial charges -€605
down €605 (-30.6%), from €1,977 to €1,372
- Staff costs -€82
no longer reported in 2025 (was €82)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,430 | €49,122 | -€6,307 | -11.4% |
| Fixed assets | 21/28 | €28,442 | €29,775 | +€1,333 | +4.7% |
| Intangible fixed assets | 21 | - | €8,761 | +€8,761 | |
| Tangible fixed assets | 22/27 | €28,442 | €21,014 | -€7,428 | -26.1% |
| Plant, machinery and equipment | 23 | €27,357 | €20,616 | -€6,740 | -24.6% |
| Furniture and vehicles | 24 | €1,086 | €398 | -€688 | -63.4% |
| Current assets | 29/58 | €26,988 | €19,347 | -€7,640 | -28.3% |
| Amounts receivable within one year | 40/41 | €3,708 | €19,347 | +€15,640 | +422% |
| Trade receivables | 40 | €3,708 | €19,347 | +€15,640 | +422% |
| Deferred charges and accrued income | 490/1 | €23,280 | - | -€23,280 | |
| Total equity and liabilities | 10/49 | €55,430 | €49,122 | -€6,307 | -11.4% |
| Equity | 10/15 | -€488,873 | -€505,157 | -€16,284 | -3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€557,073 | -€573,357 | -€16,284 | -2.9% |
| Amounts payable | 17/49 | €544,303 | €554,280 | +€9,977 | +1.8% |
| Amounts payable within one year | 42/48 | €544,303 | €554,280 | +€9,977 | +1.8% |
| Financial debts | 43 | €14,120 | €14,605 | +€485 | +3.4% |
| Credit institutions | 430/8 | €14,120 | €14,605 | +€485 | +3.4% |
| Trade debts | 44 | €76,836 | €84,017 | +€7,180 | +9.3% |
| Suppliers | 440/4 | €76,836 | €84,017 | +€7,180 | +9.3% |
| Taxes, remuneration and social security | 45 | €6,497 | €6,809 | +€312 | +4.8% |
| Taxes | 450/3 | €1,721 | €2,921 | +€1,200 | +69.7% |
| Remuneration and social security | 454/9 | €4,776 | €3,888 | -€888 | -18.6% |
| Other amounts payable | 47/48 | €446,849 | €448,849 | +€2,000 | +0.4% |
| Remuneration, social security and pensions | 62 | €82 | - | -€82 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,428 | €9,347 | +€1,919 | +25.8% |
| Other operating charges | 640/8 | €493 | €1,331 | +€838 | +170% |
| Gross operating margin | 9900 | €6,724 | -€4,233 | -€10,957 | |
| Operating profit (loss) | 9901 | -€1,279 | -€14,912 | -€13,633 | -1,066% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,977 | €1,372 | -€605 | -30.6% |
| Recurring financial charges | 65 | €1,977 | €1,372 | -€605 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,257 | -€16,284 | -€13,028 | -400% |
| Profit (loss) for the period | 9904 | -€3,257 | -€16,284 | -€13,028 | -400% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,257 | -€16,284 | -€13,028 | -400% |
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 15 October 2026 via checked.be.