COBO-MANAGEMENT: 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.
COBO-MANAGEMENT
Largest movements
- Receivables within one year -€36,936
down €36,936 (-21.5%), from €171,463 to €134,527
of which Trade receivables: -€45,772
- Deferred charges and accrued income -€6,708
down €6,708 (-88.7%), from €7,565 to €857
- Tangible fixed assets -€3,741
down €3,741 (-37.9%), from €9,879 to €6,138
of which Plant, machinery and equipment: -€2,422
- Trade debts -€29,299
down €29,299 (-64.7%), from €45,263 to €15,964
- Reserves -€19,898
down €19,898 (-40.7%), from €48,926 to €29,027
of which Distributable reserves: -€19,898
- Other debts +€5,395
up €5,395 (+12.5%), from €43,203 to €48,598
- Tax, wage and social debts -€3,740
down €3,740 (-12.6%), from €29,615 to €25,875
of which Taxes: -€6,929
- Gross operating margin -€34,998
down €34,998, from €13,941 to -€21,057
- Taxes -€3,750
no longer reported in 2025 (was €3,750)
- Financial charges -€1,735
down €1,735 (-43.0%), from €4,035 to €2,299
- Other operating charges -€408
down €408 (-66.2%), from €617 to €209
- Financial income +€247
up €247 (+3.4%), from €7,161 to €7,407
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €188,907 | €141,522 | -€47,384 | -25.1% |
| Fixed assets | 21/28 | €9,879 | €6,138 | -€3,741 | -37.9% |
| Tangible fixed assets | 22/27 | €9,879 | €6,138 | -€3,741 | -37.9% |
| Plant, machinery and equipment | 23 | €6,494 | €4,072 | -€2,422 | -37.3% |
| Furniture and vehicles | 24 | €3,385 | €2,066 | -€1,319 | -39.0% |
| Current assets | 29/58 | €179,028 | €135,385 | -€43,644 | -24.4% |
| Amounts receivable within one year | 40/41 | €171,463 | €134,527 | -€36,936 | -21.5% |
| Trade receivables | 40 | €53,257 | €7,485 | -€45,772 | -85.9% |
| Other amounts receivable | 41 | €118,206 | €127,042 | +€8,836 | +7.5% |
| Deferred charges and accrued income | 490/1 | €7,565 | €857 | -€6,708 | -88.7% |
| Total equity and liabilities | 10/49 | €188,907 | €141,522 | -€47,384 | -25.1% |
| Equity | 10/15 | €67,526 | €47,627 | -€19,898 | -29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,926 | €29,027 | -€19,898 | -40.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €48,926 | €29,027 | -€19,898 | -40.7% |
| Amounts payable | 17/49 | €121,381 | €93,895 | -€27,486 | -22.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €121,381 | €93,895 | -€27,486 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €1,050 | - | -€1,050 | |
| Financial debts | 43 | €2,250 | €3,459 | +€1,208 | +53.7% |
| Credit institutions | 430/8 | €2,250 | €3,459 | +€1,208 | +53.7% |
| Trade debts | 44 | €45,263 | €15,964 | -€29,299 | -64.7% |
| Suppliers | 440/4 | €45,263 | €15,964 | -€29,299 | -64.7% |
| Taxes, remuneration and social security | 45 | €29,615 | €25,875 | -€3,740 | -12.6% |
| Taxes | 450/3 | €26,480 | €19,551 | -€6,929 | -26.2% |
| Remuneration and social security | 454/9 | €3,135 | €6,323 | +€3,189 | +102% |
| Other amounts payable | 47/48 | €43,203 | €48,598 | +€5,395 | +12.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,741 | €3,741 | = | 0.0% |
| Other operating charges | 640/8 | €617 | €209 | -€408 | -66.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €13,941 | -€21,057 | -€34,998 | |
| Operating profit (loss) | 9901 | €9,584 | -€25,006 | -€34,590 | |
| Financial income | 75/76B | €7,161 | €7,407 | +€247 | +3.4% |
| Recurring financial income | 75 | €7,161 | €7,407 | +€247 | +3.4% |
| Financial charges | 65/66B | €4,035 | €2,299 | -€1,735 | -43.0% |
| Recurring financial charges | 65 | €4,035 | €2,299 | -€1,735 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €12,710 | -€19,898 | -€32,608 | |
| Income taxes | 67/77 | €3,750 | - | -€3,750 | |
| Profit (loss) for the period | 9904 | €8,960 | -€19,898 | -€28,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,960 | -€19,898 | -€28,858 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.