Cobelair: 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.
Cobelair
Largest movements
- Receivables within one year -€199,130
down €199,130 (-31.5%), from €632,951 to €433,820
of which Trade receivables: -€213,350
- Cash +€8,343
up €8,343 (+39.1%), from €21,361 to €29,705
mainly Receivables within one year (+€199,130) and Depreciation (+€21,497)
- Trade debts -€113,486
down €113,486 (-48.8%), from €232,508 to €119,022
- Reserves -€40,000
down €40,000 (-39.3%), from €101,855 to €61,855
- Other debts -€21,500
down €21,500 (-100%), from €21,500 to €0
- Debts after one year -€10,152
down €10,152 (-100%), from €10,152 to €0
- Gross operating margin -€33,439
down €33,439 (-6.4%), from €522,489 to €489,050
- Financial charges -€19,961
down €19,961 (-51.2%), from €38,959 to €18,998
- Staff costs -€19,770
down €19,770 (-4.2%), from €467,246 to €447,476
- Financial income -€9,091
down €9,091 (-43.0%), from €21,146 to €12,055
- Depreciation -€7,682
down €7,682 (-26.3%), from €29,179 to €21,497
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 | €738,977 | €544,967 | -€194,010 | -26.3% |
| Fixed assets | 21/28 | €60,871 | €52,403 | -€8,468 | -13.9% |
| Intangible fixed assets | 21 | €2,869 | €1,537 | -€1,333 | -46.4% |
| Tangible fixed assets | 22/27 | €55,457 | €48,321 | -€7,136 | -12.9% |
| Furniture and vehicles | 24 | €55,072 | €48,321 | -€6,751 | -12.3% |
| Other tangible fixed assets | 26 | €385 | €0 | -€385 | -100% |
| Financial fixed assets | 28 | €2,545 | €2,545 | = | 0.0% |
| Current assets | 29/58 | €678,106 | €492,564 | -€185,542 | -27.4% |
| Amounts receivable within one year | 40/41 | €632,951 | €433,820 | -€199,130 | -31.5% |
| Trade receivables | 40 | €430,181 | €216,831 | -€213,350 | -49.6% |
| Other amounts receivable | 41 | €202,770 | €216,990 | +€14,220 | +7.0% |
| Cash at bank and in hand | 54/58 | €21,361 | €29,705 | +€8,343 | +39.1% |
| Deferred charges and accrued income | 490/1 | €23,794 | €29,039 | +€5,246 | +22.0% |
| Total equity and liabilities | 10/49 | €738,977 | €544,967 | -€194,010 | -26.3% |
| Equity | 10/15 | €244,210 | €205,204 | -€39,006 | -16.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €101,855 | €61,855 | -€40,000 | -39.3% |
| Distributable reserves | 133 | €101,855 | €61,855 | -€40,000 | -39.3% |
| Profit (loss) carried forward | 14 | €123,805 | €124,799 | +€994 | +0.8% |
| Amounts payable | 17/49 | €494,767 | €339,764 | -€155,004 | -31.3% |
| Amounts payable after more than one year | 17 | €10,152 | €0 | -€10,152 | -100% |
| Financial debts | 170/4 | €10,152 | €0 | -€10,152 | -100% |
| Amounts payable within one year | 42/48 | €483,784 | €337,932 | -€145,851 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €174,326 | €167,187 | -€7,139 | -4.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €232,508 | €119,022 | -€113,486 | -48.8% |
| Suppliers | 440/4 | €232,508 | €119,022 | -€113,486 | -48.8% |
| Taxes, remuneration and social security | 45 | €55,450 | €51,723 | -€3,727 | -6.7% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €55,450 | €51,723 | -€3,727 | -6.7% |
| Other amounts payable | 47/48 | €21,500 | €0 | -€21,500 | -100% |
| Accrued charges and deferred income | 492/3 | €832 | €1,831 | +€999 | +120% |
| Non-recurring operating income | 76A | €2,531 | €16,173 | +€13,642 | +539% |
| Remuneration, social security and pensions | 62 | €467,246 | €447,476 | -€19,770 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,179 | €21,497 | -€7,682 | -26.3% |
| Other operating charges | 640/8 | €1,468 | €2,292 | +€825 | +56.2% |
| Non-recurring operating charges | 66A | €335 | €5,946 | +€5,611 | +1,677% |
| Gross operating margin | 9900 | €522,489 | €489,050 | -€33,439 | -6.4% |
| Operating profit (loss) | 9901 | €24,262 | €11,838 | -€12,423 | -51.2% |
| Financial income | 75/76B | €21,146 | €12,055 | -€9,091 | -43.0% |
| Recurring financial income | 75 | €21,146 | €12,055 | -€9,091 | -43.0% |
| Financial charges | 65/66B | €38,959 | €18,998 | -€19,961 | -51.2% |
| Recurring financial charges | 65 | €38,959 | €18,998 | -€19,961 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €6,448 | €4,896 | -€1,553 | -24.1% |
| Income taxes | 67/77 | €4,600 | €3,902 | -€698 | -15.2% |
| Profit (loss) for the period | 9904 | €1,849 | €994 | -€855 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,849 | €994 | -€855 | -46.2% |
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 31 October 2026 via checked.be.