COBINVEST: what changed
What changed
COBINVEST
filed annual accounts (NBB)
Net result for the year
€134,908
2024 · €207,902-€72,994
Equity
€567,811
2024 · €432,902+€134,908
Cash
€113,067
2024 · €48,252+€64,815
Balance sheet total
€998,445
2024 · €995,195+€3,250
Largest movements
Assets
- Cash +€64,815
up €64,815 (+134%), from €48,252 to €113,067
mainly Net result for the year (+€134,908) and Receivables within one year (+€49,115)
- Receivables within one year -€49,115
down €49,115 (-55.4%), from €88,647 to €39,532
Equity and liabilities
- Reserves +€139,524
up €139,524 (+92.2%), from €151,382 to €290,906
- Debts after one year -€80,000
down €80,000 (-22.2%), from €360,000 to €280,000
- Other debts -€52,822
down €52,822 (-70.4%), from €75,000 to €22,178
- Tax, wage and social debts +€15,524
new in 2025: €15,524
- Short-term financial debts -€15,152
down €15,152 (-60.0%), from €25,245 to €10,093
Income statement
- Gross operating margin -€191,084
down €191,084 (-43.5%), from €439,731 to €248,647
- Depreciation -€68,028
down €68,028 (-75.6%), from €89,970 to €21,942
- Taxes -€52,751
down €52,751 (-53.6%), from €98,491 to €45,740
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.
Result 2024
€207,902
Gross operating margin
-€191,084
Depreciation
+€68,028
Other operating charges
-€1,161
Financial income
-€3,467
Financial charges
+€1,939
Taxes
+€52,751
Result 2025
€134,908
raises the resultlowers the result
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.
From operations
+€174,467
Investment
-€14,500
Financing
-€95,152
Cash 2024
€48,252
From operations (derived)
+€174,467
Net result for the year
+€134,908
Depreciation
+€21,942
Receivables within one year
+€49,115
Deferred charges and accrued income
+€5,007
Trade debts
+€131
Tax, wage and social debts
+€15,524
Other debts
-€52,822
Accrued charges and deferred income
+€661
Investment (derived)
-€14,500
Investment in fixed assets (net)
-€14,500
Financing
-€95,152
Debts after one year
-€80,000
Short-term financial debts
-€15,152
Cash 2025
€113,067
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €995,195 | €998,445 | +€3,250 | +0.3% |
| Fixed assets | 21/28 | €852,831 | €845,390 | -€7,442 | -0.9% |
| Tangible fixed assets | 22/27 | €852,831 | €845,390 | -€7,442 | -0.9% |
| Land and buildings | 22 | €850,872 | €829,710 | -€21,162 | -2.5% |
| Furniture and vehicles | 24 | €1,959 | €1,179 | -€780 | -39.8% |
| Other tangible fixed assets | 26 | - | €14,500 | +€14,500 | |
| Current assets | 29/58 | €142,364 | €153,056 | +€10,692 | +7.5% |
| Amounts receivable within one year | 40/41 | €88,647 | €39,532 | -€49,115 | -55.4% |
| Other amounts receivable | 41 | €88,647 | €39,532 | -€49,115 | -55.4% |
| Cash at bank and in hand | 54/58 | €48,252 | €113,067 | +€64,815 | +134% |
| Deferred charges and accrued income | 490/1 | €5,464 | €457 | -€5,007 | -91.6% |
| Total equity and liabilities | 10/49 | €995,195 | €998,445 | +€3,250 | +0.3% |
| Equity | 10/15 | €432,902 | €567,811 | +€134,908 | +31.2% |
| Revaluation surpluses | 12 | €281,520 | €276,905 | -€4,615 | -1.6% |
| Reserves | 13 | €151,382 | €290,906 | +€139,524 | +92.2% |
| Distributable reserves | 133 | €151,382 | €290,906 | +€139,524 | +92.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €562,293 | €430,635 | -€131,658 | -23.4% |
| Amounts payable after more than one year | 17 | €360,000 | €280,000 | -€80,000 | -22.2% |
| Financial debts | 170/4 | €360,000 | €280,000 | -€80,000 | -22.2% |
| Amounts payable within one year | 42/48 | €180,245 | €127,927 | -€52,318 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 43 | €25,245 | €10,093 | -€15,152 | -60.0% |
| Credit institutions | 430/8 | €25,245 | €10,093 | -€15,152 | -60.0% |
| Trade debts | 44 | - | €131 | +€131 | |
| Suppliers | 440/4 | - | €131 | +€131 | |
| Taxes, remuneration and social security | 45 | - | €15,524 | +€15,524 | |
| Taxes | 450/3 | - | €15,524 | +€15,524 | |
| Other amounts payable | 47/48 | €75,000 | €22,178 | -€52,822 | -70.4% |
| Accrued charges and deferred income | 492/3 | €22,048 | €22,708 | +€661 | +3.0% |
| Non-recurring operating income | 76A | €221,396 | €4,564 | -€216,832 | -97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,970 | €21,942 | -€68,028 | -75.6% |
| Other operating charges | 640/8 | €37,789 | €38,949 | +€1,161 | +3.1% |
| Gross operating margin | 9900 | €439,731 | €248,647 | -€191,084 | -43.5% |
| Operating profit (loss) | 9901 | €311,972 | €187,755 | -€124,217 | -39.8% |
| Financial income | 75/76B | €6,542 | €3,075 | -€3,467 | -53.0% |
| Recurring financial income | 75 | €6,542 | €3,075 | -€3,467 | -53.0% |
| Financial charges | 65/66B | €12,121 | €10,182 | -€1,939 | -16.0% |
| Recurring financial charges | 65 | €12,121 | €10,182 | -€1,939 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €306,394 | €180,648 | -€125,745 | -41.0% |
| Income taxes | 67/77 | €98,491 | €45,740 | -€52,751 | -53.6% |
| Profit (loss) for the period | 9904 | €207,902 | €134,908 | -€72,994 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €207,902 | €134,908 | -€72,994 | -35.1% |
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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.