COBIA: 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.
COBIA
Largest movements
- Receivables within one year +€33.8m
up €33.8m (+2207.6%), from €1.5m to €35.3m
- Financial fixed assets -€27.6m
down €27.6m (-100.0%), from €27.6m to €0
- Profit (loss) carried forward +€25.5m
up €25.5m (+444.8%), from €5.7m to €31.2m
- Debts after one year -€19.3m
down €19.3m (-100.0%), from €19.3m to €0
- Financial income +€24.6m
up €24.6m (+2428.4%), from €1.0m to €25.6m
of which Non-recurring financial income: +€24.1m
- Financial charges -€233,870
down €233,870 (-60.7%), from €385,500 to €151,630
- Purchases and services -€3,733
no longer reported in 2025 (was €3,733)
- Gross operating margin -€3,027
down €3,027 (-81.1%), from -€3,733 to -€6,760
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 | €29,332,977 | €35,323,572 | +€6.0m | +20.4% |
| Fixed assets | 21/28 | €27,578,338 | €0 | -€27.6m | -100.0% |
| Financial fixed assets | 28 | €27,578,338 | €0 | -€27.6m | -100.0% |
| Current assets | 29/58 | €1,754,639 | €35,323,572 | +€33.6m | +1913.2% |
| Amounts receivable within one year | 40/41 | €1,530,337 | €35,314,663 | +€33.8m | +2207.6% |
| Other amounts receivable | 41 | €1,530,337 | €35,314,663 | +€33.8m | +2207.6% |
| Cash at bank and in hand | 54/58 | €224,302 | €8,909 | -€215,393 | -96.0% |
| Total equity and liabilities | 10/49 | €29,332,977 | €35,323,572 | +€6.0m | +20.4% |
| Equity | 10/15 | €9,832,546 | €35,317,136 | +€25.5m | +259.2% |
| Contributions | 10/11 | €3,730,000 | €3,730,000 | = | 0.0% |
| Capital | 10 | €3,730,000 | €3,730,000 | = | 0.0% |
| Issued capital | 100 | €3,730,000 | €3,730,000 | = | 0.0% |
| Reserves | 13 | €373,000 | €373,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €373,000 | €373,000 | = | 0.0% |
| Legal reserve | 130 | €373,000 | €373,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,729,546 | €31,214,136 | +€25.5m | +444.8% |
| Amounts payable | 17/49 | €19,500,431 | €6,436 | -€19.5m | -100.0% |
| Amounts payable after more than one year | 17 | €19,275,000 | €0 | -€19.3m | -100.0% |
| Financial debts | 170/4 | €19,275,000 | €0 | -€19.3m | -100.0% |
| Amounts payable within one year | 42/48 | €3,636 | €6,436 | +€2,800 | +77.0% |
| Trade debts | 44 | €3,636 | €6,436 | +€2,800 | +77.0% |
| Suppliers | 440/4 | €3,636 | €6,436 | +€2,800 | +77.0% |
| Accrued charges and deferred income | 492/3 | €221,795 | €0 | -€221,795 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,733 | - | -€3,733 | |
| Other operating charges | 640/8 | €968 | €1,015 | +€48 | +4.9% |
| Gross operating margin | 9900 | -€3,733 | -€6,760 | -€3,027 | -81.1% |
| Operating profit (loss) | 9901 | -€4,700 | -€7,775 | -€3,075 | -65.4% |
| Financial income | 75/76B | €1,014,236 | €25,643,995 | +€24.6m | +2428.4% |
| Recurring financial income | 75 | €1,014,236 | €1,586,434 | +€572,197 | +56.4% |
| Non-recurring financial income | 76B | - | €24,057,561 | +€24.1m | |
| Financial charges | 65/66B | €385,500 | €151,630 | -€233,870 | -60.7% |
| Recurring financial charges | 65 | €385,500 | €151,630 | -€233,870 | -60.7% |
| Profit (loss) for the period before taxes | 9903 | €624,036 | €25,484,590 | +€24.9m | +3983.8% |
| Profit (loss) for the period | 9904 | €624,036 | €25,484,590 | +€24.9m | +3983.8% |
| Profit (loss) for the period to be appropriated | 9905 | €624,036 | €25,484,590 | +€24.9m | +3983.8% |
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 11 October 2026 via checked.be.