Cobuz: 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.
Cobuz
Largest movements
- Tangible fixed assets +€585,761
up €585,761 (+58.9%), from €995,026 to €1.6m
of which Land and buildings: +€542,689
- Current investments -€210,000
no longer reported in 2025 (was €210,000)
- Cash +€32,399
up €32,399 (+106.0%), from €30,552 to €62,951
mainly Debts after one year (+€305,073) and Current investments (+€210,000)
- Receivables within one year +€23,164
up €23,164 (+43.2%), from €53,670 to €76,835
of which Trade receivables: +€32,776
- Debts after one year +€305,073
up €305,073 (+28.1%), from €1.1m to €1.4m
of which Financial debts: +€260,239
- Reserves +€80,610
up €80,610 (+57.5%), from €140,238 to €220,849
- Tax, wage and social debts +€40,668
up €40,668 (+257.5%), from €15,793 to €56,461
of which Taxes: +€38,568
- Gross operating margin +€90,288
up €90,288 (+53.0%), from €170,416 to €260,704
- Depreciation +€70,988
up €70,988 (+124.4%), from €57,057 to €128,045
- Taxes +€14,579
up €14,579 (+69.3%), from €21,036 to €35,616
- Financial income -€8,951
down €8,951 (-38.3%), from €23,352 to €14,401
of which Financial income: -€4,738
- Financial charges -€6,607
down €6,607 (-20.4%), from €32,442 to €25,835
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 | €1,376,105 | €1,791,070 | +€414,966 | +30.2% |
| Fixed assets | 21/28 | €1,037,527 | €1,623,287 | +€585,760 | +56.5% |
| Tangible fixed assets | 22/27 | €995,026 | €1,580,787 | +€585,761 | +58.9% |
| Land and buildings | 22 | €965,716 | €1,508,404 | +€542,689 | +56.2% |
| Plant, machinery and equipment | 23 | €680 | €1,788 | +€1,109 | +163.1% |
| Furniture and vehicles | 24 | €28,630 | €70,594 | +€41,964 | +146.6% |
| Financial fixed assets | 28 | €42,501 | €42,500 | -€1 | 0.0% |
| Current assets | 29/58 | €338,578 | €167,784 | -€170,794 | -50.4% |
| Amounts receivable after more than one year | 29 | €37,221 | €24,134 | -€13,087 | -35.2% |
| Other amounts receivable | 291 | €37,221 | €24,134 | -€13,087 | -35.2% |
| Amounts receivable within one year | 40/41 | €53,670 | €76,835 | +€23,164 | +43.2% |
| Trade receivables | 40 | €40,558 | €73,335 | +€32,776 | +80.8% |
| Other amounts receivable | 41 | €13,112 | €3,500 | -€9,612 | -73.3% |
| Current investments | 50/53 | €210,000 | - | -€210,000 | |
| Cash at bank and in hand | 54/58 | €30,552 | €62,951 | +€32,399 | +106.0% |
| Deferred charges and accrued income | 490/1 | €7,134 | €3,864 | -€3,270 | -45.8% |
| Total equity and liabilities | 10/49 | €1,376,105 | €1,791,070 | +€414,966 | +30.2% |
| Equity | 10/15 | €160,238 | €240,849 | +€80,610 | +50.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €140,238 | €220,849 | +€80,610 | +57.5% |
| Distributable reserves | 133 | €140,238 | €220,849 | +€80,610 | +57.5% |
| Amounts payable | 17/49 | €1,215,866 | €1,550,221 | +€334,355 | +27.5% |
| Amounts payable after more than one year | 17 | €1,087,584 | €1,392,657 | +€305,073 | +28.1% |
| Financial debts | 170/4 | €608,012 | €868,251 | +€260,239 | +42.8% |
| Other amounts payable | 178/9 | €479,572 | €524,406 | +€44,834 | +9.3% |
| Amounts payable within one year | 42/48 | €128,282 | €153,415 | +€25,133 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €39,674 | €39,761 | +€86 | +0.2% |
| Trade debts | 44 | €72,814 | €57,193 | -€15,621 | -21.5% |
| Suppliers | 440/4 | €72,814 | €57,193 | -€15,621 | -21.5% |
| Taxes, remuneration and social security | 45 | €15,793 | €56,461 | +€40,668 | +257.5% |
| Taxes | 450/3 | €15,793 | €54,361 | +€38,568 | +244.2% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Accrued charges and deferred income | 492/3 | - | €4,150 | +€4,150 | |
| Non-recurring operating income | 76A | - | €61,008 | +€61,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,057 | €128,045 | +€70,988 | +124.4% |
| Other operating charges | 640/8 | €4,954 | €5,000 | +€46 | +0.9% |
| Gross operating margin | 9900 | €170,416 | €260,704 | +€90,288 | +53.0% |
| Operating profit (loss) | 9901 | €108,405 | €127,659 | +€19,254 | +17.8% |
| Financial income | 75/76B | €23,352 | €14,401 | -€8,951 | -38.3% |
| Recurring financial income | 75 | €9,141 | €4,402 | -€4,738 | -51.8% |
| Non-recurring financial income | 76B | €14,211 | €9,999 | -€4,212 | -29.6% |
| Financial charges | 65/66B | €32,442 | €25,835 | -€6,607 | -20.4% |
| Recurring financial charges | 65 | €32,442 | €25,835 | -€6,607 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €99,315 | €116,226 | +€16,911 | +17.0% |
| Income taxes | 67/77 | €21,036 | €35,616 | +€14,579 | +69.3% |
| Profit (loss) for the period | 9904 | €78,278 | €80,610 | +€2,332 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,278 | €80,610 | +€2,332 | +3.0% |
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 1 October 2026 via checked.be.