COBRA: 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.
COBRA
Largest movements
- Cash +€56,388
up €56,388 (+23.0%), from €244,692 to €301,080
mainly Receivables within one year (+€37,298) and Net result for the year (+€11,172)
- Receivables within one year -€37,298
down €37,298 (-58.6%), from €63,624 to €26,326
of which Trade receivables: -€37,298
- Profit (loss) carried forward +€11,172
up €11,172 (+4.0%), from €279,890 to €291,062
- Trade debts +€7,646
up €7,646 (+199.1%), from €3,840 to €11,486
- Staff costs -€35,241
down €35,241 (-92.4%), from €38,130 to €2,889
- Gross operating margin -€27,589
down €27,589 (-60.9%), from €45,310 to €17,722
- Taxes +€2,464
up €2,464 (+118.4%), from €2,081 to €4,545
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 | €309,413 | €328,553 | +€19,140 | +6.2% |
| Fixed assets | 21/28 | €150 | €150 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €309,263 | €328,403 | +€19,140 | +6.2% |
| Amounts receivable within one year | 40/41 | €63,624 | €26,326 | -€37,298 | -58.6% |
| Trade receivables | 40 | €55,881 | €18,582 | -€37,298 | -66.7% |
| Other amounts receivable | 41 | €7,743 | €7,743 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €244,692 | €301,080 | +€56,388 | +23.0% |
| Deferred charges and accrued income | 490/1 | €947 | €998 | +€50 | +5.3% |
| Total equity and liabilities | 10/49 | €309,413 | €328,553 | +€19,140 | +6.2% |
| Equity | 10/15 | €300,341 | €311,513 | +€11,172 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,890 | €291,062 | +€11,172 | +4.0% |
| Amounts payable | 17/49 | €9,072 | €17,040 | +€7,968 | +87.8% |
| Amounts payable within one year | 42/48 | €9,072 | €17,040 | +€7,968 | +87.8% |
| Trade debts | 44 | €3,840 | €11,486 | +€7,646 | +199.1% |
| Suppliers | 440/4 | €3,840 | €11,486 | +€7,646 | +199.1% |
| Taxes, remuneration and social security | 45 | €4,362 | €4,684 | +€322 | +7.4% |
| Taxes | 450/3 | €2,930 | €4,684 | +€1,754 | +59.9% |
| Remuneration and social security | 454/9 | €1,432 | - | -€1,432 | |
| Other amounts payable | 47/48 | €870 | €870 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €38,130 | €2,889 | -€35,241 | -92.4% |
| Other operating charges | 640/8 | €46 | €97 | +€52 | +113.0% |
| Gross operating margin | 9900 | €45,310 | €17,722 | -€27,589 | -60.9% |
| Operating profit (loss) | 9901 | €7,135 | €14,735 | +€7,600 | +106.5% |
| Financial income | 75/76B | €664 | €1,036 | +€372 | +56.1% |
| Recurring financial income | 75 | €664 | €1,036 | +€372 | +56.1% |
| Financial charges | 65/66B | €186 | €53 | -€132 | -71.3% |
| Recurring financial charges | 65 | €186 | €53 | -€132 | -71.3% |
| Profit (loss) for the period before taxes | 9903 | €7,613 | €15,718 | +€8,105 | +106.5% |
| Income taxes | 67/77 | €2,081 | €4,545 | +€2,464 | +118.4% |
| Profit (loss) for the period | 9904 | €5,531 | €11,172 | +€5,641 | +102.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,531 | €11,172 | +€5,641 | +102.0% |
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 10 October 2026 via checked.be.