COBRAREST: what changed
Two fiscal 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.
COBRAREST
Largest movements
- Tangible fixed assets -€69,672
down €69,672 (-21.6%), from €322,952 to €253,281
of which Land and buildings: -€39,668
- Receivables within one year +€44,324
up €44,324 (+272.9%), from €16,240 to €60,564
of which Trade receivables: +€41,138
- Other debts -€42,226
down €42,226 (-5.0%), from €842,837 to €800,611
- Trade debts +€36,312
up €36,312 (+128.5%), from €28,249 to €64,561
- Debts after one year -€31,867
down €31,867 (-31.0%), from €102,963 to €71,096
of which Financial debts: -€22,425
- Profit (loss) carried forward +€26,723
up €26,723 (+3.4%), from -€794,486 to -€767,763
- Accrued charges and deferred income -€22,479
down €22,479 (-100.0%), from €22,479 to €0
- Depreciation -€25,235
down €25,235 (-26.6%), from €94,907 to €69,672
- Financial income -€20,281
down €20,281 (-71.2%), from €28,483 to €8,202
- Staff costs +€10,168
up €10,168 (+12.5%), from €81,430 to €91,598
- Gross operating margin -€6,345
down €6,345 (-2.9%), from €220,120 to €213,775
- Financial charges -€4,841
down €4,841 (-46.0%), from €10,531 to €5,690
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 | €418,094 | €396,711 | -€21,382 | -5.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €324,041 | €254,370 | -€69,672 | -21.5% |
| Tangible fixed assets | 22/27 | €322,952 | €253,281 | -€69,672 | -21.6% |
| Land and buildings | 22 | €210,644 | €170,976 | -€39,668 | -18.8% |
| Plant, machinery and equipment | 23 | €10,658 | €6,050 | -€4,608 | -43.2% |
| Furniture and vehicles | 24 | €101,650 | €76,255 | -€25,395 | -25.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,089 | €1,089 | = | 0.0% |
| Current assets | 29/58 | €94,052 | €142,342 | +€48,289 | +51.3% |
| Stocks and contracts in progress | 3 | €36,668 | €38,042 | +€1,374 | +3.7% |
| Stocks | 30/36 | €36,668 | €38,042 | +€1,374 | +3.7% |
| Amounts receivable within one year | 40/41 | €16,240 | €60,564 | +€44,324 | +272.9% |
| Trade receivables | 40 | €16,240 | €57,379 | +€41,138 | +253.3% |
| Other amounts receivable | 41 | €0 | €3,185 | +€3,185 | |
| Cash at bank and in hand | 54/58 | €41,049 | €43,513 | +€2,465 | +6.0% |
| Deferred charges and accrued income | 490/1 | €95 | €222 | +€128 | +134.3% |
| Total equity and liabilities | 10/49 | €418,094 | €396,711 | -€21,382 | -5.1% |
| Equity | 10/15 | -€658,091 | -€631,368 | +€26,723 | +4.1% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €12,395 | €12,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€794,486 | -€767,763 | +€26,723 | +3.4% |
| Amounts payable | 17/49 | €1,076,185 | €1,028,080 | -€48,105 | -4.5% |
| Amounts payable after more than one year | 17 | €102,963 | €71,096 | -€31,867 | -31.0% |
| Financial debts | 170/4 | €72,555 | €50,130 | -€22,425 | -30.9% |
| Other amounts payable | 178/9 | €30,408 | €20,965 | -€9,442 | -31.1% |
| Amounts payable within one year | 42/48 | €950,743 | €956,984 | +€6,241 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €21,426 | €22,425 | +€998 | +4.7% |
| Trade debts | 44 | €28,249 | €64,561 | +€36,312 | +128.5% |
| Suppliers | 440/4 | €28,249 | €64,561 | +€36,312 | +128.5% |
| Taxes, remuneration and social security | 45 | €58,230 | €69,387 | +€11,157 | +19.2% |
| Taxes | 450/3 | €32,564 | €27,726 | -€4,838 | -14.9% |
| Remuneration and social security | 454/9 | €25,665 | €41,660 | +€15,995 | +62.3% |
| Other amounts payable | 47/48 | €842,837 | €800,611 | -€42,226 | -5.0% |
| Accrued charges and deferred income | 492/3 | €22,479 | €0 | -€22,479 | -100.0% |
| Remuneration, social security and pensions | 62 | €81,430 | €91,598 | +€10,168 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,907 | €69,672 | -€25,235 | -26.6% |
| Other operating charges | 640/8 | €29,804 | €26,142 | -€3,662 | -12.3% |
| Gross operating margin | 9900 | €220,120 | €213,775 | -€6,345 | -2.9% |
| Operating profit (loss) | 9901 | €13,979 | €26,363 | +€12,384 | +88.6% |
| Financial income | 75/76B | €28,483 | €8,202 | -€20,281 | -71.2% |
| Recurring financial income | 75 | €28,483 | €8,202 | -€20,281 | -71.2% |
| Financial charges | 65/66B | €10,531 | €5,690 | -€4,841 | -46.0% |
| Recurring financial charges | 65 | €10,531 | €5,690 | -€4,841 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €31,931 | €28,875 | -€3,056 | -9.6% |
| Income taxes | 67/77 | €2,327 | €2,153 | -€175 | -7.5% |
| Profit (loss) for the period | 9904 | €29,604 | €26,723 | -€2,881 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,604 | €26,723 | -€2,881 | -9.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.