COEBA: 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.
COEBA
Largest movements
- Tangible fixed assets +€287,151
up €287,151 (+175%), from €164,553 to €451,704
of which Land and buildings: +€284,101
- Cash -€28,053
down €28,053 (-76.0%), from €36,905 to €8,853
mainly Investment in fixed assets (net) (-€295,677) and Net result for the year (-€38,576)
- Receivables within one year -€11,141
down €11,141 (-19.5%), from €57,142 to €46,000
of which Other amounts receivable: -€36,493
- Debts after one year +€235,702
up €235,702 (+1,592%), from €14,805 to €250,507
- Profit (loss) carried forward -€35,009
down €35,009 (-1,644%), from -€2,129 to -€37,138
- Tax, wage and social debts +€28,757
new in 2025: €28,757
- Advances received +€11,891
new in 2025: €11,891
- Current portion of long-term debt +€8,772
up €8,772 (+476%), from €1,843 to €10,615
- Gross operating margin -€194,080
down €194,080, from €167,600 to -€26,480
- Financial charges +€2,539
up €2,539 (+173%), from €1,464 to €4,003
- Depreciation +€1,916
up €1,916 (+29.0%), from €6,610 to €8,526
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.
Derived cash bridge
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 | €267,363 | €515,759 | +€248,396 | +92.9% |
| Fixed assets | 21/28 | €164,602 | €451,753 | +€287,151 | +174% |
| Tangible fixed assets | 22/27 | €164,553 | €451,704 | +€287,151 | +175% |
| Land and buildings | 22 | €164,112 | €448,213 | +€284,101 | +173% |
| Plant, machinery and equipment | 23 | €195 | €1,702 | +€1,507 | +774% |
| Furniture and vehicles | 24 | €246 | €1,788 | +€1,543 | +628% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €102,761 | €64,006 | -€38,755 | -37.7% |
| Amounts receivable within one year | 40/41 | €57,142 | €46,000 | -€11,141 | -19.5% |
| Trade receivables | 40 | €4,338 | €29,690 | +€25,352 | +584% |
| Other amounts receivable | 41 | €52,803 | €16,310 | -€36,493 | -69.1% |
| Cash at bank and in hand | 54/58 | €36,905 | €8,853 | -€28,053 | -76.0% |
| Deferred charges and accrued income | 490/1 | €8,714 | €9,153 | +€439 | +5.0% |
| Total equity and liabilities | 10/49 | €267,363 | €515,759 | +€248,396 | +92.9% |
| Equity | 10/15 | €157,722 | €119,146 | -€38,576 | -24.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €153,654 | €150,087 | -€3,567 | -2.3% |
| Tax-exempt reserves | 132 | €151,795 | €148,228 | -€3,567 | -2.3% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,129 | -€37,138 | -€35,009 | -1,644% |
| Provisions and deferred taxes | 16 | €48,953 | €47,763 | -€1,189 | -2.4% |
| Deferred taxes | 168 | €48,953 | €47,763 | -€1,189 | -2.4% |
| Amounts payable | 17/49 | €60,688 | €348,849 | +€288,161 | +475% |
| Amounts payable after more than one year | 17 | €14,805 | €250,507 | +€235,702 | +1,592% |
| Financial debts | 170/4 | €14,805 | €250,507 | +€235,702 | +1,592% |
| Amounts payable within one year | 42/48 | €45,883 | €98,343 | +€52,459 | +114% |
| Current portion of amounts payable after more than one year | 42 | €1,843 | €10,615 | +€8,772 | +476% |
| Trade debts | 44 | €43,745 | €47,079 | +€3,334 | +7.6% |
| Suppliers | 440/4 | €43,745 | €47,079 | +€3,334 | +7.6% |
| Advances received on contracts in progress | 46 | - | €11,891 | +€11,891 | |
| Taxes, remuneration and social security | 45 | - | €28,757 | +€28,757 | |
| Taxes | 450/3 | - | €28,757 | +€28,757 | |
| Other amounts payable | 47/48 | €295 | - | -€295 | |
| Non-recurring operating income | 76A | €196,506 | - | -€196,506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,610 | €8,526 | +€1,916 | +29.0% |
| Other operating charges | 640/8 | €143 | €1,357 | +€1,214 | +849% |
| Gross operating margin | 9900 | €167,600 | -€26,480 | -€194,080 | |
| Operating profit (loss) | 9901 | €160,847 | -€36,363 | -€197,210 | |
| Financial income | 75/76B | €1,059 | €786 | -€273 | -25.8% |
| Recurring financial income | 75 | €1,059 | €786 | -€273 | -25.8% |
| Financial charges | 65/66B | €1,464 | €4,003 | +€2,539 | +173% |
| Recurring financial charges | 65 | €1,464 | €4,003 | +€2,539 | +173% |
| Profit (loss) for the period before taxes | 9903 | €160,442 | -€39,580 | -€200,022 | |
| Transfer from deferred taxes | 780 | - | €1,189 | +€1,189 | |
| Transfer to deferred taxes | 680 | €48,953 | - | -€48,953 | |
| Income taxes | 67/77 | - | €185 | +€185 | |
| Profit (loss) for the period | 9904 | €111,490 | -€38,576 | -€150,066 | |
| Transfer from tax-exempt reserves | 789 | - | €3,567 | +€3,567 | |
| Transfer to tax-exempt reserves | 689 | €146,858 | - | -€146,858 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,368 | -€35,009 | +€359 | +1.0% |
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 14 October 2026 via checked.be.