COBELFIN: what changed
COBELFIN
Largest movements
- Receivables within one year +€27,857
up €27,857 (+233%), from €11,977 to €39,834
of which Other amounts receivable: +€24,800
- Tangible fixed assets -€13,472
down €13,472 (-37.5%), from €35,894 to €22,422
of which Furniture and vehicles: -€12,504
- Cash +€1,018
up €1,018 (+14.1%), from €7,197 to €8,216
mainly Net result for the year (+€24,885) and Other debts (+€20,075)
- Other debts +€20,075
up €20,075 (+73.8%), from €27,195 to €47,270
- Debts after one year -€7,000
no longer reported in 2025 (was €7,000)
- Tax, wage and social debts +€1,499
up €1,499 (+32.0%), from €4,677 to €6,176
- Trade debts +€965
up €965 (+387%), from €249 to €1,214
- Accrued charges and deferred income -€777
down €777 (-60.2%), from €1,292 to €515
- Gross operating margin +€44,321
up €44,321 (+603%), from €7,355 to €51,676
- Depreciation +€14,644
new in 2025: €14,644
- Taxes +€7,776
up €7,776 (+413%), from €1,884 to €9,660
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,670 | €72,816 | +€15,146 | +26.3% |
| Fixed assets | 21/28 | €35,894 | €22,422 | -€13,472 | -37.5% |
| Tangible fixed assets | 22/27 | €35,894 | €22,422 | -€13,472 | -37.5% |
| Land and buildings | 22 | €9,495 | €8,527 | -€968 | -10.2% |
| Furniture and vehicles | 24 | €26,400 | €13,896 | -€12,504 | -47.4% |
| Current assets | 29/58 | €21,776 | €50,393 | +€28,617 | +131% |
| Amounts receivable within one year | 40/41 | €11,977 | €39,834 | +€27,857 | +233% |
| Trade receivables | 40 | €8,794 | €11,851 | +€3,057 | +34.8% |
| Other amounts receivable | 41 | €3,183 | €27,983 | +€24,800 | +779% |
| Cash at bank and in hand | 54/58 | €7,197 | €8,216 | +€1,018 | +14.1% |
| Deferred charges and accrued income | 490/1 | €2,601 | €2,344 | -€257 | -9.9% |
| Total equity and liabilities | 10/49 | €57,670 | €72,816 | +€15,146 | +26.3% |
| Equity | 10/15 | €17,257 | €17,641 | +€385 | +2.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,978 | €13,978 | = | 0.0% |
| Distributable reserves | 133 | €13,978 | €13,978 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278 | €663 | +€385 | +138% |
| Amounts payable | 17/49 | €40,413 | €55,174 | +€14,761 | +36.5% |
| Amounts payable after more than one year | 17 | €7,000 | - | -€7,000 | |
| Other amounts payable | 178/9 | €7,000 | - | -€7,000 | |
| Amounts payable within one year | 42/48 | €32,121 | €54,660 | +€22,538 | +70.2% |
| Trade debts | 44 | €249 | €1,214 | +€965 | +387% |
| Suppliers | 440/4 | €249 | €1,214 | +€965 | +387% |
| Taxes, remuneration and social security | 45 | €4,677 | €6,176 | +€1,499 | +32.0% |
| Taxes | 450/3 | €4,677 | €6,176 | +€1,499 | +32.0% |
| Other amounts payable | 47/48 | €27,195 | €47,270 | +€20,075 | +73.8% |
| Accrued charges and deferred income | 492/3 | €1,292 | €515 | -€777 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,644 | +€14,644 | |
| Other operating charges | 640/8 | €1,063 | €886 | -€177 | -16.7% |
| Gross operating margin | 9900 | €7,355 | €51,676 | +€44,321 | +603% |
| Operating profit (loss) | 9901 | €6,291 | €36,146 | +€29,854 | +475% |
| Financial income | 75/76B | €94 | €88 | -€6 | -6.3% |
| Recurring financial income | 75 | €94 | €88 | -€6 | -6.3% |
| Financial charges | 65/66B | €1,390 | €1,689 | +€299 | +21.5% |
| Recurring financial charges | 65 | €1,390 | €1,689 | +€299 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €4,995 | €34,544 | +€29,549 | +592% |
| Income taxes | 67/77 | €1,884 | €9,660 | +€7,776 | +413% |
| Profit (loss) for the period | 9904 | €3,111 | €24,885 | +€21,773 | +700% |
| Profit (loss) for the period to be appropriated | 9905 | €3,111 | €24,885 | +€21,773 | +700% |
Next steps
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.