COBRIN: 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.
COBRIN
Largest movements
- Tangible fixed assets -€104,049
down €104,049 (-19.3%), from €538,860 to €434,812
of which Land and buildings: -€84,363
- Financial fixed assets -€48,400
no longer reported in 2025 (was €48,400)
- Cash +€29,843
up €29,843 (+157.7%), from €18,929 to €48,772
mainly Investment in fixed assets (net) (+€87,799) and Depreciation (+€64,649)
- Other debts -€131,053
down €131,053 (-66.6%), from €196,774 to €65,721
- Reserves +€48,610
up €48,610 (+16.6%), from €292,447 to €341,057
- Debts after one year -€25,000
down €25,000 (-41.4%), from €60,417 to €35,417
- Tax, wage and social debts -€16,949
down €16,949 (-65.0%), from €26,087 to €9,138
- Financial charges +€6,857
up €6,857 (+410.0%), from €1,672 to €8,529
- Gross operating margin +€5,678
up €5,678 (+4.0%), from €140,792 to €146,470
- Depreciation +€3,115
up €3,115 (+5.1%), from €61,534 to €64,649
- Other operating charges -€2,726
down €2,726 (-34.8%), from €7,842 to €5,117
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 | €629,032 | €504,072 | -€124,960 | -19.9% |
| Fixed assets | 21/28 | €587,260 | €434,812 | -€152,449 | -26.0% |
| Tangible fixed assets | 22/27 | €538,860 | €434,812 | -€104,049 | -19.3% |
| Land and buildings | 22 | €506,241 | €421,878 | -€84,363 | -16.7% |
| Plant, machinery and equipment | 23 | €3,184 | €2,154 | -€1,030 | -32.3% |
| Furniture and vehicles | 24 | €29,435 | €10,780 | -€18,656 | -63.4% |
| Financial fixed assets | 28 | €48,400 | - | -€48,400 | |
| Current assets | 29/58 | €41,772 | €69,261 | +€27,489 | +65.8% |
| Amounts receivable within one year | 40/41 | €7,776 | €8,792 | +€1,015 | +13.1% |
| Trade receivables | 40 | €2,305 | €3,277 | +€972 | +42.2% |
| Other amounts receivable | 41 | €5,472 | €5,515 | +€43 | +0.8% |
| Cash at bank and in hand | 54/58 | €18,929 | €48,772 | +€29,843 | +157.7% |
| Deferred charges and accrued income | 490/1 | €15,067 | €11,697 | -€3,369 | -22.4% |
| Total equity and liabilities | 10/49 | €629,032 | €504,072 | -€124,960 | -19.9% |
| Equity | 10/15 | €311,047 | €359,657 | +€48,610 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €292,447 | €341,057 | +€48,610 | +16.6% |
| Distributable reserves | 133 | €292,447 | €341,057 | +€48,610 | +16.6% |
| Amounts payable | 17/49 | €317,985 | €144,415 | -€173,570 | -54.6% |
| Amounts payable after more than one year | 17 | €60,417 | €35,417 | -€25,000 | -41.4% |
| Financial debts | 170/4 | €60,417 | €35,417 | -€25,000 | -41.4% |
| Amounts payable within one year | 42/48 | €257,568 | €108,998 | -€148,570 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €9,707 | €9,139 | -€568 | -5.9% |
| Suppliers | 440/4 | €9,707 | €9,139 | -€568 | -5.9% |
| Taxes, remuneration and social security | 45 | €26,087 | €9,138 | -€16,949 | -65.0% |
| Taxes | 450/3 | €26,087 | €9,138 | -€16,949 | -65.0% |
| Other amounts payable | 47/48 | €196,774 | €65,721 | -€131,053 | -66.6% |
| Non-recurring operating income | 76A | - | €385 | +€385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,534 | €64,649 | +€3,115 | +5.1% |
| Other operating charges | 640/8 | €7,842 | €5,117 | -€2,726 | -34.8% |
| Gross operating margin | 9900 | €140,792 | €146,470 | +€5,678 | +4.0% |
| Operating profit (loss) | 9901 | €71,416 | €76,705 | +€5,289 | +7.4% |
| Financial income | 75/76B | €300 | - | -€300 | |
| Recurring financial income | 75 | €300 | - | -€300 | |
| Financial charges | 65/66B | €1,672 | €8,529 | +€6,857 | +410.0% |
| Recurring financial charges | 65 | €1,672 | €8,529 | +€6,857 | +410.0% |
| Profit (loss) for the period before taxes | 9903 | €70,044 | €68,176 | -€1,868 | -2.7% |
| Income taxes | 67/77 | €19,993 | €19,566 | -€427 | -2.1% |
| Profit (loss) for the period | 9904 | €50,050 | €48,610 | -€1,440 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,050 | €48,610 | -€1,440 | -2.9% |
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 11 October 2026 via checked.be.