COBOX: 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.
COBOX
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+99.8%), from €1.3m to €2.5m
of which Land and buildings: +€1.3m
- Debts after one year +€1.4m
up €1.4m (+62.5%), from €2.2m to €3.6m
- Other debts +€153,494
up €153,494 (+57.2%), from €268,364 to €421,858
- Profit (loss) carried forward -€144,241
down €144,241 (-57.8%), from -€249,356 to -€393,597
- Financial income -€468,949
down €468,949 (-84.2%), from €556,934 to €87,985
of which Non-recurring financial income: -€475,000
- Depreciation +€54,312
up €54,312 (+64.6%), from €84,084 to €138,396
- Staff costs -€7,888
down €7,888 (-79.4%), from €9,934 to €2,045
- Gross operating margin +€4,247
up €4,247 (+31.2%), from €13,607 to €17,854
- Financial charges +€564
up €564 (+0.6%), from €98,433 to €98,997
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 | €10,935,745 | €12,220,714 | +€1.3m | +11.8% |
| Fixed assets | 21/28 | €8,646,142 | €9,908,356 | +€1.3m | +14.6% |
| Tangible fixed assets | 22/27 | €1,265,157 | €2,527,371 | +€1.3m | +99.8% |
| Land and buildings | 22 | €1,244,610 | €2,510,044 | +€1.3m | +101.7% |
| Plant, machinery and equipment | 23 | €11,032 | €10,783 | -€249 | -2.3% |
| Furniture and vehicles | 24 | €9,515 | €6,544 | -€2,971 | -31.2% |
| Financial fixed assets | 28 | €7,380,985 | €7,380,985 | = | 0.0% |
| Current assets | 29/58 | €2,289,603 | €2,312,358 | +€22,755 | +1.0% |
| Amounts receivable after more than one year | 29 | €2,099,728 | €2,006,399 | -€93,328 | -4.4% |
| Other amounts receivable | 291 | €2,099,728 | €2,006,399 | -€93,328 | -4.4% |
| Amounts receivable within one year | 40/41 | €45,625 | €39,250 | -€6,375 | -14.0% |
| Trade receivables | 40 | €18,036 | €15,261 | -€2,775 | -15.4% |
| Other amounts receivable | 41 | €27,589 | €23,989 | -€3,600 | -13.0% |
| Cash at bank and in hand | 54/58 | €137,358 | €259,264 | +€121,906 | +88.8% |
| Deferred charges and accrued income | 490/1 | €6,893 | €7,445 | +€552 | +8.0% |
| Total equity and liabilities | 10/49 | €10,935,745 | €12,220,714 | +€1.3m | +11.8% |
| Equity | 10/15 | €8,391,878 | €8,149,290 | -€242,589 | -2.9% |
| Contributions | 10/11 | €8,079,500 | €8,079,500 | = | 0.0% |
| Reserves | 13 | €561,734 | €463,386 | -€98,348 | -17.5% |
| Distributable reserves | 133 | €561,734 | €463,386 | -€98,348 | -17.5% |
| Profit (loss) carried forward | 14 | -€249,356 | -€393,597 | -€144,241 | -57.8% |
| Amounts payable | 17/49 | €2,543,867 | €4,071,424 | +€1.5m | +60.0% |
| Amounts payable after more than one year | 17 | €2,233,633 | €3,628,841 | +€1.4m | +62.5% |
| Other amounts payable | 178/9 | €2,233,633 | €3,628,841 | +€1.4m | +62.5% |
| Amounts payable within one year | 42/48 | €299,856 | €436,499 | +€136,643 | +45.6% |
| Trade debts | 44 | €26,402 | €12,235 | -€14,167 | -53.7% |
| Suppliers | 440/4 | €26,402 | €12,235 | -€14,167 | -53.7% |
| Taxes, remuneration and social security | 45 | €5,091 | €2,407 | -€2,684 | -52.7% |
| Taxes | 450/3 | €5,091 | €2,407 | -€2,684 | -52.7% |
| Other amounts payable | 47/48 | €268,364 | €421,858 | +€153,494 | +57.2% |
| Accrued charges and deferred income | 492/3 | €10,378 | €6,084 | -€4,294 | -41.4% |
| Non-recurring operating income | 76A | €3,922 | €877 | -€3,045 | -77.6% |
| Remuneration, social security and pensions | 62 | €9,934 | €2,045 | -€7,888 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,084 | €138,396 | +€54,312 | +64.6% |
| Other operating charges | 640/8 | €10,073 | €10,191 | +€118 | +1.2% |
| Non-recurring operating charges | 66A | €6,440 | - | -€6,440 | |
| Gross operating margin | 9900 | €13,607 | €17,854 | +€4,247 | +31.2% |
| Operating profit (loss) | 9901 | -€96,924 | -€132,779 | -€35,855 | -37.0% |
| Financial income | 75/76B | €556,934 | €87,985 | -€468,949 | -84.2% |
| Recurring financial income | 75 | €81,934 | €87,985 | +€6,051 | +7.4% |
| Non-recurring financial income | 76B | €475,000 | - | -€475,000 | |
| Financial charges | 65/66B | €98,433 | €98,997 | +€564 | +0.6% |
| Recurring financial charges | 65 | €98,433 | €98,997 | +€564 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €361,577 | -€143,791 | -€505,368 | |
| Income taxes | 67/77 | €559 | €449 | -€109 | -19.5% |
| Profit (loss) for the period | 9904 | €361,018 | -€144,241 | -€505,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €361,018 | -€144,241 | -€505,259 |
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 10 October 2026 via checked.be.