Cobra Belgium: what changed
What changed
Cobra Belgium
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
-€8.5m
2023 · €570,279-€9.0m
Equity
-€7.9m
2023 · €559,696-€8.5m
Cash
€66.3m
2023 · €47.6m+€18.7m
Balance sheet total
€77.6m
2023 · €77.9m-€338,073
Largest movements
Assets
- Receivables within one year -€19.2m
down €19.2m (-76.4%), from €25.1m to €5.9m
of which Trade receivables: -€23.8m
- Cash +€18.7m
up €18.7m (+39.3%), from €47.6m to €66.3m
mainly Receivables within one year (+€19.2m) and Provisions (+€8.6m)
Equity and liabilities
- Provisions +€8.6m
new in 2024: €8.6m
- Profit (loss) carried forward -€8.5m
down €8.5m, from €556,696 to -€7.9m
- Advances received -€6.6m
down €6.6m (-10.8%), from €61.6m to €55.0m
- Trade debts +€6.2m
up €6.2m (+41.5%), from €15.0m to €21.2m
Income statement
- Goods and materials +€56.2m
up €56.2m (+194%), from €29.0m to €85.2m
- Turnover +€22.3m
up €22.3m (+33.7%), from €66.0m to €88.3m
- Provisions +€8.6m
new in 2024: €8.6m
- Services and other goods +€6.7m
up €6.7m (+598%), from €1.1m to €7.8m
- Staff costs +€4.0m
up €4.0m (+455%), from €881,045 to €4.9m
Change in the result, 2023 to 2024
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 2023
€570,279
Turnover
+€22.3m
Other operating income
+€1,406
Goods and materials
-€56.2m
Services and other goods
-€6.7m
Staff costs
-€4.0m
Provisions
-€8.6m
Other operating charges
-€27,240
Other operating items
+€42.5m
Financial income
+€1.6m
Financial charges
-€128,251
Taxes
+€216,466
Result 2024
-€8.5m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€18.7m
Investment
€0
Financing
€0
Cash 2023
€47.6m
From operations (derived)
+€18.7m
Net result for the year
-€8.5m
Stocks and contracts
-€120,946
Receivables within one year
+€19.2m
Provisions
+€8.6m
Trade debts
+€6.2m
Tax, wage and social debts
-€36,604
Advances received
-€6.6m
Cash 2024
€66.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,940,025 | €77,601,952 | -€338,073 | -0.4% |
| Current assets | 29/58 | €77,940,025 | €77,601,952 | -€338,073 | -0.4% |
| Stocks and contracts in progress | 3 | €5,220,794 | €5,341,740 | +€120,946 | +2.3% |
| Contracts in progress | 37 | €5,220,794 | €5,341,740 | +€120,946 | +2.3% |
| Amounts receivable within one year | 40/41 | €25,104,306 | €5,928,107 | -€19.2m | -76.4% |
| Trade receivables | 40 | €24,630,482 | €814,415 | -€23.8m | -96.7% |
| Other amounts receivable | 41 | €473,824 | €5,113,692 | +€4.6m | +979% |
| Cash at bank and in hand | 54/58 | €47,614,925 | €66,332,104 | +€18.7m | +39.3% |
| Total equity and liabilities | 10/49 | €77,940,025 | €77,601,952 | -€338,073 | -0.4% |
| Equity | 10/15 | €559,696 | -€7,899,196 | -€8.5m | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €556,696 | -€7,902,196 | -€8.5m | |
| Provisions and deferred taxes | 16 | - | €8,567,972 | +€8.6m | |
| Provisions for liabilities and charges | 160/5 | - | €8,567,972 | +€8.6m | |
| Other liabilities and charges | 164/5 | - | €8,567,972 | +€8.6m | |
| Amounts payable | 17/49 | €77,380,329 | €76,933,176 | -€447,153 | -0.6% |
| Amounts payable within one year | 42/48 | €77,380,329 | €76,933,176 | -€447,153 | -0.6% |
| Trade debts | 44 | €14,964,538 | €21,181,039 | +€6.2m | +41.5% |
| Suppliers | 440/4 | €14,964,538 | €21,181,039 | +€6.2m | +41.5% |
| Advances received on contracts in progress | 46 | €61,580,368 | €54,953,319 | -€6.6m | -10.8% |
| Taxes, remuneration and social security | 45 | €835,423 | €798,819 | -€36,604 | -4.4% |
| Taxes | 450/3 | €705,279 | €442,148 | -€263,131 | -37.3% |
| Remuneration and social security | 454/9 | €130,144 | €356,670 | +€226,526 | +174% |
| Operating income | 70/76A | €30,314,719 | €95,098,213 | +€64.8m | +214% |
| Turnover | 70 | €66,017,992 | €88,274,763 | +€22.3m | +33.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€35,703,336 | €6,627,049 | +€42.3m | |
| Other operating income | 74 | €63 | €1,469 | +€1,406 | +2,241% |
| Non-recurring operating income | 76A | - | €194,932 | +€194,932 | |
| Operating charges | 60/66A | €30,959,279 | €106,458,813 | +€75.5m | +244% |
| Goods for resale, raw materials and consumables | 60 | €28,966,619 | €85,213,365 | +€56.2m | +194% |
| Purchases | 600/8 | €28,966,619 | €85,213,365 | +€56.2m | +194% |
| Services and other goods | 61 | €1,111,614 | €7,761,781 | +€6.7m | +598% |
| Remuneration, social security and pensions | 62 | €881,045 | €4,887,094 | +€4.0m | +455% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €8,567,972 | +€8.6m | |
| Other operating charges | 640/8 | - | €27,240 | +€27,240 | |
| Non-recurring operating charges | 66A | - | €1,361 | +€1,361 | |
| Operating profit (loss) | 9901 | -€644,560 | -€11,360,601 | -€10.7m | -1,663% |
| Financial income | 75/76B | €1,457,680 | €3,056,333 | +€1.6m | +110% |
| Recurring financial income | 75 | €1,457,680 | €3,056,333 | +€1.6m | +110% |
| Income from current assets | 751 | €1,400,111 | €2,581,551 | +€1.2m | +84.4% |
| Other financial income | 752/9 | €57,569 | €474,782 | +€417,213 | +725% |
| Financial charges | 65/66B | €26,841 | €155,091 | +€128,251 | +478% |
| Recurring financial charges | 65 | €26,841 | €155,091 | +€128,251 | +478% |
| Debt charges | 650 | - | €2,563 | +€2,563 | |
| Other financial charges | 652/9 | €26,841 | €152,528 | +€125,688 | +468% |
| Profit (loss) for the period before taxes | 9903 | €786,279 | -€8,459,359 | -€9.2m | |
| Income taxes | 67/77 | €216,000 | -€466 | -€216,466 | |
| Taxes | 670/3 | €216,000 | €0 | -€216,000 | -100% |
| Tax adjustments and reversals of tax provisions | 77 | - | €466 | +€466 | |
| Profit (loss) for the period | 9904 | €570,279 | -€8,458,893 | -€9.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €570,279 | -€8,458,893 | -€9.0m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.