COIVA: 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.
COIVA
Largest movements
- Receivables within one year +€20,535
up €20,535 (+12.4%), from €165,306 to €185,841
of which Trade receivables: +€18,180
- Financial fixed assets +€13,208
new in 2025: €13,208
- Tangible fixed assets -€11,022
down €11,022 (-26.7%), from €41,333 to €30,310
of which Furniture and vehicles: -€9,375
- Other debts +€42,715
up €42,715 (+122%), from €35,128 to €77,843
- Profit (loss) carried forward -€23,518
down €23,518 (-27.2%), from €86,544 to €63,026
- Current portion of long-term debt -€7,197
down €7,197 (-100%), from €7,197 to €0
- Tax, wage and social debts +€4,521
up €4,521 (+70.7%), from €6,392 to €10,913
of which Taxes: +€4,511
- Trade debts +€4,168
up €4,168 (+140%), from €2,972 to €7,139
- Financial income -€5,798
down €5,798 (-96.5%), from €6,006 to €208
- Gross operating margin -€3,855
down €3,855 (-188%), from -€2,046 to -€5,901
- Financial charges +€1,722
up €1,722 (+72.5%), from €2,374 to €4,095
- Other operating charges -€497
down €497 (-45.3%), from €1,098 to €600
- Depreciation -€229
down €229 (-1.7%), from €13,214 to €12,985
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 | €207,641 | €230,323 | +€22,682 | +10.9% |
| Fixed assets | 21/28 | €41,333 | €43,518 | +€2,186 | +5.3% |
| Tangible fixed assets | 22/27 | €41,333 | €30,310 | -€11,022 | -26.7% |
| Plant, machinery and equipment | 23 | €1,287 | €850 | -€437 | -34.0% |
| Furniture and vehicles | 24 | €29,592 | €20,217 | -€9,375 | -31.7% |
| Other tangible fixed assets | 26 | €10,453 | €9,243 | -€1,210 | -11.6% |
| Financial fixed assets | 28 | - | €13,208 | +€13,208 | |
| Current assets | 29/58 | €166,308 | €186,805 | +€20,496 | +12.3% |
| Amounts receivable within one year | 40/41 | €165,306 | €185,841 | +€20,535 | +12.4% |
| Trade receivables | 40 | €78,306 | €96,486 | +€18,180 | +23.2% |
| Other amounts receivable | 41 | €87,000 | €89,355 | +€2,355 | +2.7% |
| Cash at bank and in hand | 54/58 | €645 | €0 | -€645 | -100% |
| Deferred charges and accrued income | 490/1 | €358 | €963 | +€606 | +169% |
| Total equity and liabilities | 10/49 | €207,641 | €230,323 | +€22,682 | +10.9% |
| Equity | 10/15 | €154,897 | €131,379 | -€23,518 | -15.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €49,353 | €49,353 | = | 0.0% |
| Distributable reserves | 133 | €49,353 | €49,353 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,544 | €63,026 | -€23,518 | -27.2% |
| Amounts payable | 17/49 | €52,744 | €98,944 | +€46,200 | +87.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €51,688 | €98,944 | +€47,256 | +91.4% |
| Current portion of amounts payable after more than one year | 42 | €7,197 | €0 | -€7,197 | -100% |
| Financial debts | 43 | - | €3,049 | +€3,049 | |
| Credit institutions | 430/8 | - | €3,049 | +€3,049 | |
| Trade debts | 44 | €2,972 | €7,139 | +€4,168 | +140% |
| Suppliers | 440/4 | €2,972 | €7,139 | +€4,168 | +140% |
| Taxes, remuneration and social security | 45 | €6,392 | €10,913 | +€4,521 | +70.7% |
| Taxes | 450/3 | €5,395 | €9,906 | +€4,511 | +83.6% |
| Remuneration and social security | 454/9 | €997 | €1,007 | +€10 | +1.0% |
| Other amounts payable | 47/48 | €35,128 | €77,843 | +€42,715 | +122% |
| Accrued charges and deferred income | 492/3 | €1,056 | €0 | -€1,056 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,214 | €12,985 | -€229 | -1.7% |
| Other operating charges | 640/8 | €1,098 | €600 | -€497 | -45.3% |
| Gross operating margin | 9900 | -€2,046 | -€5,901 | -€3,855 | -188% |
| Operating profit (loss) | 9901 | -€16,357 | -€19,486 | -€3,129 | -19.1% |
| Financial income | 75/76B | €6,006 | €208 | -€5,798 | -96.5% |
| Recurring financial income | 75 | €6,006 | €208 | -€5,798 | -96.5% |
| Financial charges | 65/66B | €2,374 | €4,095 | +€1,722 | +72.5% |
| Recurring financial charges | 65 | €2,374 | €4,095 | +€1,722 | +72.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,725 | -€23,373 | -€10,648 | -83.7% |
| Income taxes | 67/77 | €55 | €145 | +€90 | +162% |
| Profit (loss) for the period | 9904 | -€12,780 | -€23,518 | -€10,738 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,780 | -€23,518 | -€10,738 | -84.0% |
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 17 October 2026 via checked.be.