COJUBEL: 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.
COJUBEL
Largest movements
- Receivables within one year -€393,411
down €393,411 (-65.8%), from €598,180 to €204,769
of which Trade receivables: -€358,414
- Cash +€71,311
up €71,311 (+85.0%), from €83,907 to €155,218
mainly Receivables within one year (+€393,411) and Trade debts (+€104,767)
- Stocks and contracts +€32,918
up €32,918 (+6.8%), from €482,200 to €515,118
- Other debts -€246,970
down €246,970 (-13.8%), from €1.8m to €1.5m
- Profit (loss) carried forward -€135,899
down €135,899 (-48.6%), from -€279,490 to -€415,389
- Trade debts +€104,767
up €104,767 (+119%), from €87,950 to €192,718
- Gross operating margin -€192,473
down €192,473, from €190,212 to -€2,261
- Financial charges -€52,867
down €52,867 (-79.8%), from €66,272 to €13,405
- Staff costs -€31,199
down €31,199 (-26.8%), from €116,534 to €85,335
- Other operating charges +€16,892
up €16,892 (+114%), from €14,822 to €31,714
- Depreciation -€4,939
down €4,939 (-62.5%), from €7,909 to €2,970
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 | €2,305,245 | €2,013,093 | -€292,152 | -12.7% |
| Fixed assets | 21/28 | €1,140,959 | €1,137,989 | -€2,970 | -0.3% |
| Intangible fixed assets | 21 | €230,473 | €230,473 | = | 0.0% |
| Tangible fixed assets | 22/27 | €910,486 | €907,517 | -€2,970 | -0.3% |
| Land and buildings | 22 | €898,516 | €898,175 | -€341 | 0.0% |
| Furniture and vehicles | 24 | €11,970 | €9,342 | -€2,628 | -22.0% |
| Current assets | 29/58 | €1,164,286 | €875,104 | -€289,183 | -24.8% |
| Stocks and contracts in progress | 3 | €482,200 | €515,118 | +€32,918 | +6.8% |
| Stocks | 30/36 | €482,200 | €515,118 | +€32,918 | +6.8% |
| Amounts receivable within one year | 40/41 | €598,180 | €204,769 | -€393,411 | -65.8% |
| Trade receivables | 40 | €560,931 | €202,517 | -€358,414 | -63.9% |
| Other amounts receivable | 41 | €37,248 | €2,252 | -€34,997 | -94.0% |
| Cash at bank and in hand | 54/58 | €83,907 | €155,218 | +€71,311 | +85.0% |
| Total equity and liabilities | 10/49 | €2,305,245 | €2,013,093 | -€292,152 | -12.7% |
| Equity | 10/15 | €398,746 | €262,848 | -€135,899 | -34.1% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €78,237 | €78,237 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,237 | €58,237 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,490 | -€415,389 | -€135,899 | -48.6% |
| Amounts payable | 17/49 | €1,906,499 | €1,750,245 | -€156,253 | -8.2% |
| Amounts payable after more than one year | 17 | €4,445 | - | -€4,445 | |
| Financial debts | 170/4 | €4,445 | - | -€4,445 | |
| Amounts payable within one year | 42/48 | €1,902,054 | €1,750,245 | -€151,808 | -8.0% |
| Financial debts | 43 | - | €7 | +€7 | |
| Credit institutions | 430/8 | - | €7 | +€7 | |
| Trade debts | 44 | €87,950 | €192,718 | +€104,767 | +119% |
| Suppliers | 440/4 | €87,950 | €192,718 | +€104,767 | +119% |
| Taxes, remuneration and social security | 45 | €21,982 | €12,369 | -€9,613 | -43.7% |
| Taxes | 450/3 | €6,685 | €9,430 | +€2,745 | +41.1% |
| Remuneration and social security | 454/9 | €15,297 | €2,938 | -€12,359 | -80.8% |
| Other amounts payable | 47/48 | €1,792,121 | €1,545,151 | -€246,970 | -13.8% |
| Remuneration, social security and pensions | 62 | €116,534 | €85,335 | -€31,199 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,909 | €2,970 | -€4,939 | -62.5% |
| Other operating charges | 640/8 | €14,822 | €31,714 | +€16,892 | +114% |
| Gross operating margin | 9900 | €190,212 | -€2,261 | -€192,473 | |
| Operating profit (loss) | 9901 | €50,946 | -€122,280 | -€173,227 | |
| Financial income | 75/76B | €2,322 | €39 | -€2,283 | -98.3% |
| Recurring financial income | 75 | €2,322 | €39 | -€2,283 | -98.3% |
| Financial charges | 65/66B | €66,272 | €13,405 | -€52,867 | -79.8% |
| Recurring financial charges | 65 | €66,272 | €13,405 | -€52,867 | -79.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,004 | -€135,646 | -€122,642 | -943% |
| Income taxes | 67/77 | €207 | €252 | +€45 | +21.8% |
| Profit (loss) for the period | 9904 | -€13,211 | -€135,899 | -€122,688 | -929% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,211 | -€135,899 | -€122,688 | -929% |
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 26 October 2026 via checked.be.