COBELLE: 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.
COBELLE
Largest movements
- Tangible fixed assets +€374,416
up €374,416 (+28.3%), from €1.3m to €1.7m
of which Land and buildings: +€353,474
- Debts after one year +€560,105
up €560,105 (+59.8%), from €936,516 to €1.5m
- Profit (loss) carried forward -€124,095
down €124,095 (-10.8%), from -€1.2m to -€1.3m
- Tax, wage and social debts -€52,223
down €52,223 (-59.0%), from €88,558 to €36,335
of which Taxes: -€52,223
- Trade debts -€49,694
down €49,694 (-33.4%), from €148,611 to €98,917
- Other debts +€44,048
up €44,048 (+24.3%), from €181,224 to €225,272
- Gross operating margin +€68,146
up €68,146 (+88.4%), from €77,045 to €145,191
- Depreciation +€67,301
up €67,301 (+72.6%), from €92,732 to €160,032
- Other operating charges +€26,692
up €26,692 (+155.6%), from €17,155 to €43,847
- Financial charges +€17,735
up €17,735 (+40.4%), from €43,849 to €61,585
- Taxes +€3,802
up €3,802, from -€10 to €3,792
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 | €1,418,713 | €1,778,893 | +€360,180 | +25.4% |
| Fixed assets | 21/28 | €1,322,176 | €1,700,342 | +€378,166 | +28.6% |
| Intangible fixed assets | 21 | - | €3,750 | +€3,750 | |
| Tangible fixed assets | 22/27 | €1,322,176 | €1,696,592 | +€374,416 | +28.3% |
| Land and buildings | 22 | €1,214,458 | €1,567,932 | +€353,474 | +29.1% |
| Plant, machinery and equipment | 23 | €78,830 | €106,592 | +€27,762 | +35.2% |
| Furniture and vehicles | 24 | €28,888 | €22,068 | -€6,820 | -23.6% |
| Current assets | 29/58 | €96,538 | €78,551 | -€17,986 | -18.6% |
| Amounts receivable within one year | 40/41 | €80,605 | €65,595 | -€15,010 | -18.6% |
| Trade receivables | 40 | €79,181 | €63,580 | -€15,601 | -19.7% |
| Other amounts receivable | 41 | €1,424 | €2,015 | +€591 | +41.5% |
| Current investments | 50/53 | €0 | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €15,933 | €2,446 | -€13,486 | -84.6% |
| Deferred charges and accrued income | 490/1 | - | €10,509 | +€10,509 | |
| Total equity and liabilities | 10/49 | €1,418,713 | €1,778,893 | +€360,180 | +25.4% |
| Equity | 10/15 | -€56,389 | -€180,484 | -€124,095 | -220.1% |
| Contributions | 10/11 | €1,094,051 | €1,094,051 | = | 0.0% |
| Capital | 10 | €1,094,051 | €1,094,051 | = | 0.0% |
| Issued capital | 100 | €1,094,051 | €1,094,051 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,150,440 | -€1,274,535 | -€124,095 | -10.8% |
| Amounts payable | 17/49 | €1,475,103 | €1,959,377 | +€484,274 | +32.8% |
| Amounts payable after more than one year | 17 | €936,516 | €1,496,621 | +€560,105 | +59.8% |
| Financial debts | 170/4 | €936,516 | €1,496,621 | +€560,105 | +59.8% |
| Amounts payable within one year | 42/48 | €511,232 | €450,420 | -€60,813 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €92,840 | €89,895 | -€2,945 | -3.2% |
| Trade debts | 44 | €148,611 | €98,917 | -€49,694 | -33.4% |
| Suppliers | 440/4 | €148,611 | €98,917 | -€49,694 | -33.4% |
| Taxes, remuneration and social security | 45 | €88,558 | €36,335 | -€52,223 | -59.0% |
| Taxes | 450/3 | €88,558 | €36,335 | -€52,223 | -59.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €181,224 | €225,272 | +€44,048 | +24.3% |
| Accrued charges and deferred income | 492/3 | €27,354 | €12,337 | -€15,018 | -54.9% |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Remuneration, social security and pensions | 62 | €66 | €80 | +€14 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,732 | €160,032 | +€67,301 | +72.6% |
| Other operating charges | 640/8 | €17,155 | €43,847 | +€26,692 | +155.6% |
| Gross operating margin | 9900 | €77,045 | €145,191 | +€68,146 | +88.4% |
| Operating profit (loss) | 9901 | -€32,907 | -€58,768 | -€25,861 | -78.6% |
| Financial income | 75/76B | €34 | €50 | +€16 | +46.8% |
| Recurring financial income | 75 | €34 | €50 | +€16 | +46.8% |
| Financial charges | 65/66B | €43,849 | €61,585 | +€17,735 | +40.4% |
| Recurring financial charges | 65 | €43,849 | €61,585 | +€17,735 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | -€76,723 | -€120,303 | -€43,580 | -56.8% |
| Income taxes | 67/77 | -€10 | €3,792 | +€3,802 | |
| Profit (loss) for the period | 9904 | -€76,713 | -€124,095 | -€47,382 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,713 | -€124,095 | -€47,382 | -61.8% |
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 6 October 2026 via checked.be.