COBO: 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.
What changed
COBO
NACE 68.310, Real estate agency activities
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€161,164
2025 · €32,480+€128,685
Equity
€1.4m
2025 · €1.3m+€161,164
Cash
€505,947
2025 · €592,968-€87,021
Balance sheet total
€10.0m
2025 · €9.5m+€532,773
Largest movements
Assets
- Tangible fixed assets +€606,705
up €606,705 (+6.9%), from €8.7m to €9.4m
of which Other tangible fixed assets: +€699,637
Equity and liabilities
- Other debts +€799,470
up €799,470 (+28.7%), from €2.8m to €3.6m
- Debts after one year -€406,393
down €406,393 (-9.2%), from €4.4m to €4.0m
- Profit (loss) carried forward +€130,639
up €130,639 (+243%), from €53,759 to €184,398
Income statement
- Gross operating margin +€167,634
up €167,634 (+15.3%), from €1.1m to €1.3m
- Provisions +€49,700
new in 2026: €49,700
- Staff costs +€46,593
up €46,593 (+53.0%), from €87,960 to €134,553
- Financial charges -€17,781
down €17,781 (-9.3%), from €191,612 to €173,831
- Write-downs -€15,300
no longer reported in 2026 (was €15,300)
From the 2025 result to the 2026 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.
Result 2025
€32,480
Gross operating margin
+€167,634
Staff costs
-€46,593
Depreciation
+€346
Write-downs
+€15,300
Provisions
-€49,700
Other operating charges
+€15,053
Financial income
-€498
Financial charges
+€17,781
Taxes
+€9,362
Result 2026
€161,164
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.6m
Investment
-€1.2m
Financing
-€401,196
Cash 2025
€592,968
From operations (derived)
+€1.6m
Net result for the year
+€161,164
Depreciation
+€638,222
Receivables within one year
-€33,089
Deferred charges and accrued income
+€20,000
Provisions
+€30,405
Trade debts
-€41,962
Tax, wage and social debts
-€14,736
Other debts
+€799,470
Accrued charges and deferred income
-€372
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€401,196
Debts after one year
-€406,393
Current portion of long-term debt
+€5,196
Cash 2026
€505,947
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,512,108 | €10,044,880 | +€532,773 | +5.6% |
| Fixed assets | 21/28 | €8,757,406 | €9,364,111 | +€606,705 | +6.9% |
| Tangible fixed assets | 22/27 | €8,748,149 | €9,354,854 | +€606,705 | +6.9% |
| Land and buildings | 22 | €7,070,260 | €6,982,583 | -€87,676 | -1.2% |
| Plant, machinery and equipment | 23 | €11,177 | €7,344 | -€3,833 | -34.3% |
| Furniture and vehicles | 24 | €3,856 | €2,434 | -€1,422 | -36.9% |
| Other tangible fixed assets | 26 | €1,662,857 | €2,362,493 | +€699,637 | +42.1% |
| Financial fixed assets | 28 | €9,257 | €9,257 | = | 0.0% |
| Current assets | 29/58 | €754,702 | €680,769 | -€73,932 | -9.8% |
| Stocks and contracts in progress | 3 | €25,575 | €25,575 | = | 0.0% |
| Stocks | 30/36 | €25,575 | €25,575 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €116,158 | €149,247 | +€33,089 | +28.5% |
| Trade receivables | 40 | €18,055 | €30,592 | +€12,537 | +69.4% |
| Other amounts receivable | 41 | €98,103 | €118,655 | +€20,552 | +20.9% |
| Cash at bank and in hand | 54/58 | €592,968 | €505,947 | -€87,021 | -14.7% |
| Deferred charges and accrued income | 490/1 | €20,000 | - | -€20,000 | |
| Total equity and liabilities | 10/49 | €9,512,108 | €10,044,880 | +€532,773 | +5.6% |
| Equity | 10/15 | €1,286,102 | €1,447,267 | +€161,164 | +12.5% |
| Contributions | 10/11 | €227,000 | €227,000 | = | 0.0% |
| Reserves | 13 | €1,005,343 | €1,035,868 | +€30,525 | +3.0% |
| Non-distributable reserves | 130/1 | €18,183 | €18,183 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,183 | €18,183 | = | 0.0% |
| Tax-exempt reserves | 132 | €987,160 | €891,385 | -€95,775 | -9.7% |
| Distributable reserves | 133 | - | €126,300 | +€126,300 | |
| Profit (loss) carried forward | 14 | €53,759 | €184,398 | +€130,639 | +243% |
| Provisions and deferred taxes | 16 | €346,120 | €376,525 | +€30,405 | +8.8% |
| Provisions for liabilities and charges | 160/5 | €59,167 | €108,867 | +€49,700 | +84.0% |
| Other liabilities and charges | 164/5 | €59,167 | €108,867 | +€49,700 | +84.0% |
| Deferred taxes | 168 | €286,953 | €267,658 | -€19,295 | -6.7% |
| Amounts payable | 17/49 | €7,879,885 | €8,221,089 | +€341,203 | +4.3% |
| Amounts payable after more than one year | 17 | €4,421,365 | €4,014,972 | -€406,393 | -9.2% |
| Financial debts | 170/4 | €4,421,365 | €4,014,972 | -€406,393 | -9.2% |
| Amounts payable within one year | 42/48 | €3,458,149 | €4,206,116 | +€747,968 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €558,765 | €563,961 | +€5,196 | +0.9% |
| Trade debts | 44 | €47,363 | €5,400 | -€41,962 | -88.6% |
| Suppliers | 440/4 | €47,363 | €5,400 | -€41,962 | -88.6% |
| Taxes, remuneration and social security | 45 | €70,945 | €56,209 | -€14,736 | -20.8% |
| Taxes | 450/3 | €45,326 | €30,001 | -€15,325 | -33.8% |
| Remuneration and social security | 454/9 | €25,619 | €26,208 | +€589 | +2.3% |
| Other amounts payable | 47/48 | €2,781,076 | €3,580,546 | +€799,470 | +28.7% |
| Accrued charges and deferred income | 492/3 | €372 | - | -€372 | |
| Remuneration, social security and pensions | 62 | €87,960 | €134,553 | +€46,593 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €638,568 | €638,222 | -€346 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,300 | - | -€15,300 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €49,700 | +€49,700 | |
| Other operating charges | 640/8 | €76,165 | €61,112 | -€15,053 | -19.8% |
| Gross operating margin | 9900 | €1,095,467 | €1,263,100 | +€167,634 | +15.3% |
| Operating profit (loss) | 9901 | €277,474 | €379,513 | +€102,039 | +36.8% |
| Financial income | 75/76B | €3,075 | €2,577 | -€498 | -16.2% |
| Recurring financial income | 75 | €3,075 | €2,577 | -€498 | -16.2% |
| Financial charges | 65/66B | €191,612 | €173,831 | -€17,781 | -9.3% |
| Recurring financial charges | 65 | €191,612 | €173,831 | -€17,781 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €88,937 | €208,259 | +€119,322 | +134% |
| Transfer from deferred taxes | 780 | €19,295 | €19,295 | = | 0.0% |
| Income taxes | 67/77 | €75,752 | €66,390 | -€9,362 | -12.4% |
| Profit (loss) for the period | 9904 | €32,480 | €161,164 | +€128,685 | +396% |
| Transfer from tax-exempt reserves | 789 | €57,885 | €57,885 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €88,410 | +€88,410 | |
| Profit (loss) for the period to be appropriated | 9905 | €90,364 | €130,639 | +€40,275 | +44.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.