COOVALENCE: 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.
COOVALENCE
Largest movements
- Receivables within one year +€54,804
up €54,804 (+328.9%), from €16,662 to €71,465
of which Other amounts receivable: +€53,094
- Cash +€39,181
up €39,181 (+18.7%), from €209,423 to €248,604
mainly Net result for the year (+€88,981) and Other debts (+€64,637)
- Other debts +€64,637
up €64,637 (+3468.6%), from €1,863 to €66,500
- Profit (loss) carried forward +€22,481
up €22,481 (+13.0%), from €172,460 to €194,941
- Tax, wage and social debts +€6,729
up €6,729 (+12.5%), from €53,957 to €60,686
of which Taxes: +€6,729
- Gross operating margin -€6,380
down €6,380 (-5.2%), from €122,943 to €116,563
- Financial income +€1,388
new in 2025: €1,388
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 | €239,200 | €332,186 | +€92,987 | +38.9% |
| Fixed assets | 21/28 | €10,025 | €9,265 | -€760 | -7.6% |
| Tangible fixed assets | 22/27 | €10,025 | €9,265 | -€760 | -7.6% |
| Plant, machinery and equipment | 23 | €2,397 | €1,656 | -€740 | -30.9% |
| Furniture and vehicles | 24 | €7,628 | €7,609 | -€20 | -0.3% |
| Current assets | 29/58 | €229,175 | €322,921 | +€93,747 | +40.9% |
| Amounts receivable within one year | 40/41 | €16,662 | €71,465 | +€54,804 | +328.9% |
| Trade receivables | 40 | €16,662 | €18,371 | +€1,710 | +10.3% |
| Other amounts receivable | 41 | €0 | €53,094 | +€53,094 | |
| Cash at bank and in hand | 54/58 | €209,423 | €248,604 | +€39,181 | +18.7% |
| Deferred charges and accrued income | 490/1 | €3,090 | €2,852 | -€238 | -7.7% |
| Total equity and liabilities | 10/49 | €239,200 | €332,186 | +€92,987 | +38.9% |
| Equity | 10/15 | €175,460 | €197,941 | +€22,481 | +12.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,460 | €194,941 | +€22,481 | +13.0% |
| Amounts payable | 17/49 | €63,740 | €134,245 | +€70,506 | +110.6% |
| Amounts payable within one year | 42/48 | €63,740 | €134,245 | +€70,506 | +110.6% |
| Financial debts | 43 | €1,215 | €2,964 | +€1,749 | +144.0% |
| Credit institutions | 430/8 | €1,215 | €2,964 | +€1,749 | +144.0% |
| Trade debts | 44 | €6,704 | €4,096 | -€2,609 | -38.9% |
| Suppliers | 440/4 | €6,704 | €4,096 | -€2,609 | -38.9% |
| Taxes, remuneration and social security | 45 | €53,957 | €60,686 | +€6,729 | +12.5% |
| Taxes | 450/3 | €53,957 | €60,686 | +€6,729 | +12.5% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €1,863 | €66,500 | +€64,637 | +3468.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,213 | €3,260 | +€1,047 | +47.3% |
| Other operating charges | 640/8 | €286 | €171 | -€115 | -40.2% |
| Gross operating margin | 9900 | €122,943 | €116,563 | -€6,380 | -5.2% |
| Operating profit (loss) | 9901 | €120,444 | €113,132 | -€7,312 | -6.1% |
| Financial income | 75/76B | - | €1,388 | +€1,388 | |
| Recurring financial income | 75 | - | €1,388 | +€1,388 | |
| Financial charges | 65/66B | €89 | €88 | -€1 | -1.0% |
| Recurring financial charges | 65 | €89 | €88 | -€1 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €120,355 | €114,432 | -€5,923 | -4.9% |
| Income taxes | 67/77 | €26,276 | €25,451 | -€826 | -3.1% |
| Profit (loss) for the period | 9904 | €94,078 | €88,981 | -€5,097 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,078 | €88,981 | -€5,097 | -5.4% |
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 7 October 2026 via checked.be.