COBEMAR: 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.
COBEMAR
Largest movements
- Cash -€121,283
down €121,283 (-82.5%), from €147,003 to €25,720
mainly Investment in fixed assets (net) (-€81,642) and Net result for the year (-€61,717)
- Tangible fixed assets +€27,752
up €27,752 (+16.2%), from €171,798 to €199,550
of which Other tangible fixed assets: +€69,485
- Profit (loss) carried forward -€61,717
down €61,717 (-79.6%), from -€77,501 to -€139,218
- Debts after one year -€43,855
down €43,855 (-30.2%), from €145,376 to €101,522
- Other debts +€9,165
up €9,165 (+7.4%), from €124,561 to €133,726
- Gross operating margin +€10,642
up €10,642 (+531%), from €2,005 to €12,648
- Depreciation +€2,188
up €2,188 (+4.2%), from €51,757 to €53,946
- Other operating charges +€1,727
up €1,727 (+51.5%), from €3,355 to €5,081
- Financial charges +€1,446
up €1,446 (+10.1%), from €14,283 to €15,729
- Financial income -€479
down €479 (-44.9%), from €1,067 to €588
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 | €419,647 | €326,541 | -€93,106 | -22.2% |
| Fixed assets | 21/28 | €171,854 | €199,550 | +€27,696 | +16.1% |
| Tangible fixed assets | 22/27 | €171,798 | €199,550 | +€27,752 | +16.2% |
| Plant, machinery and equipment | 23 | €4,411 | €1,522 | -€2,888 | -65.5% |
| Furniture and vehicles | 24 | €375 | €141 | -€234 | -62.4% |
| Leasing and similar rights | 25 | €136,277 | €97,666 | -€38,611 | -28.3% |
| Other tangible fixed assets | 26 | €30,736 | €100,221 | +€69,485 | +226% |
| Financial fixed assets | 28 | €56 | - | -€56 | |
| Current assets | 29/58 | €247,793 | €126,991 | -€120,802 | -48.8% |
| Amounts receivable within one year | 40/41 | €790 | €1,271 | +€480 | +60.8% |
| Trade receivables | 40 | - | €332 | +€332 | |
| Other amounts receivable | 41 | €790 | €938 | +€148 | +18.7% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €147,003 | €25,720 | -€121,283 | -82.5% |
| Total equity and liabilities | 10/49 | €419,647 | €326,541 | -€93,106 | -22.2% |
| Equity | 10/15 | €106,063 | €44,346 | -€61,717 | -58.2% |
| Contributions | 10/11 | €81,474 | €81,474 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €19,974 | €19,974 | = | 0.0% |
| Share premium | 1100/10 | €19,974 | €19,974 | = | 0.0% |
| Reserves | 13 | €102,091 | €102,091 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €95,941 | €95,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,501 | -€139,218 | -€61,717 | -79.6% |
| Amounts payable | 17/49 | €313,584 | €282,195 | -€31,389 | -10.0% |
| Amounts payable after more than one year | 17 | €145,376 | €101,522 | -€43,855 | -30.2% |
| Financial debts | 170/4 | €145,376 | €101,522 | -€43,855 | -30.2% |
| Amounts payable within one year | 42/48 | €168,207 | €180,673 | +€12,466 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €42,330 | €43,855 | +€1,524 | +3.6% |
| Trade debts | 44 | €1,117 | €2,892 | +€1,776 | +159% |
| Suppliers | 440/4 | €1,117 | €2,892 | +€1,776 | +159% |
| Taxes, remuneration and social security | 45 | €200 | €200 | = | 0.0% |
| Taxes | 450/3 | €200 | €200 | = | 0.0% |
| Other amounts payable | 47/48 | €124,561 | €133,726 | +€9,165 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,757 | €53,946 | +€2,188 | +4.2% |
| Other operating charges | 640/8 | €3,355 | €5,081 | +€1,727 | +51.5% |
| Gross operating margin | 9900 | €2,005 | €12,648 | +€10,642 | +531% |
| Operating profit (loss) | 9901 | -€53,107 | -€46,379 | +€6,728 | +12.7% |
| Financial income | 75/76B | €1,067 | €588 | -€479 | -44.9% |
| Recurring financial income | 75 | €1,067 | €588 | -€479 | -44.9% |
| Financial charges | 65/66B | €14,283 | €15,729 | +€1,446 | +10.1% |
| Recurring financial charges | 65 | €14,283 | €15,729 | +€1,446 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | -€66,323 | -€61,520 | +€4,803 | +7.2% |
| Income taxes | 67/77 | €211 | €196 | -€14 | -6.8% |
| Profit (loss) for the period | 9904 | -€66,534 | -€61,717 | +€4,817 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,534 | -€61,717 | +€4,817 | +7.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.