COOVER: 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.
COOVER
Largest movements
- Cash +€40,952
up €40,952 (+148.4%), from €27,591 to €68,543
mainly Net result for the year (+€173,800) and Other debts (+€55,750)
- Receivables after one year -€35,000
down €35,000 (-58.3%), from €60,000 to €25,000
- Receivables within one year +€30,747
up €30,747 (+106.9%), from €28,750 to €59,496
of which Other amounts receivable: +€53,507
- Tangible fixed assets -€12,042
down €12,042 (-66.8%), from €18,013 to €5,971
- Debts after one year -€90,606
down €90,606 (-33.9%), from €267,352 to €176,746
of which Financial debts: -€90,606
- Reserves +€73,800
up €73,800 (+64.6%), from €114,225 to €188,024
- Other debts +€55,750
up €55,750 (+126.0%), from €44,250 to €100,000
- Tax, wage and social debts -€15,778
down €15,778 (-83.3%), from €18,940 to €3,162
- Financial income +€127,288
new in 2025: €127,288
- Gross operating margin -€17,383
down €17,383 (-17.6%), from €98,574 to €81,191
- Taxes -€4,313
down €4,313 (-20.7%), from €20,806 to €16,493
- Financial charges -€1,548
down €1,548 (-21.2%), from €7,284 to €5,736
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 | €866,014 | €890,671 | +€24,657 | +2.8% |
| Fixed assets | 21/28 | €749,673 | €737,631 | -€12,042 | -1.6% |
| Tangible fixed assets | 22/27 | €18,013 | €5,971 | -€12,042 | -66.8% |
| Furniture and vehicles | 24 | €18,013 | €5,971 | -€12,042 | -66.8% |
| Financial fixed assets | 28 | €731,660 | €731,660 | = | 0.0% |
| Current assets | 29/58 | €116,341 | €153,040 | +€36,698 | +31.5% |
| Amounts receivable after more than one year | 29 | €60,000 | €25,000 | -€35,000 | -58.3% |
| Other amounts receivable | 291 | €60,000 | €25,000 | -€35,000 | -58.3% |
| Amounts receivable within one year | 40/41 | €28,750 | €59,496 | +€30,747 | +106.9% |
| Trade receivables | 40 | €28,750 | €5,990 | -€22,760 | -79.2% |
| Other amounts receivable | 41 | - | €53,507 | +€53,507 | |
| Cash at bank and in hand | 54/58 | €27,591 | €68,543 | +€40,952 | +148.4% |
| Total equity and liabilities | 10/49 | €866,014 | €890,671 | +€24,657 | +2.8% |
| Equity | 10/15 | €446,106 | €519,906 | +€73,800 | +16.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €114,225 | €188,024 | +€73,800 | +64.6% |
| Distributable reserves | 133 | €114,225 | €188,024 | +€73,800 | +64.6% |
| Profit (loss) carried forward | 14 | €256,882 | €256,882 | = | 0.0% |
| Amounts payable | 17/49 | €419,908 | €370,765 | -€49,143 | -11.7% |
| Amounts payable after more than one year | 17 | €267,352 | €176,746 | -€90,606 | -33.9% |
| Financial debts | 170/4 | €167,352 | €76,746 | -€90,606 | -54.1% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €152,556 | €194,019 | +€41,463 | +27.2% |
| Financial debts | 43 | €89,030 | €90,627 | +€1,597 | +1.8% |
| Credit institutions | 430/8 | €89,030 | €90,627 | +€1,597 | +1.8% |
| Trade debts | 44 | €336 | €229 | -€107 | -31.8% |
| Suppliers | 440/4 | €336 | €229 | -€107 | -31.8% |
| Taxes, remuneration and social security | 45 | €18,940 | €3,162 | -€15,778 | -83.3% |
| Taxes | 450/3 | €18,940 | €3,162 | -€15,778 | -83.3% |
| Other amounts payable | 47/48 | €44,250 | €100,000 | +€55,750 | +126.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,009 | €12,042 | +€33 | +0.3% |
| Other operating charges | 640/8 | - | €407 | +€407 | |
| Gross operating margin | 9900 | €98,574 | €81,191 | -€17,383 | -17.6% |
| Operating profit (loss) | 9901 | €86,565 | €68,742 | -€17,823 | -20.6% |
| Financial income | 75/76B | - | €127,288 | +€127,288 | |
| Recurring financial income | 75 | - | €127,288 | +€127,288 | |
| Financial charges | 65/66B | €7,284 | €5,736 | -€1,548 | -21.2% |
| Recurring financial charges | 65 | €7,284 | €5,736 | -€1,548 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €79,281 | €190,293 | +€111,012 | +140.0% |
| Income taxes | 67/77 | €20,806 | €16,493 | -€4,313 | -20.7% |
| Profit (loss) for the period | 9904 | €58,475 | €173,800 | +€115,325 | +197.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,475 | €173,800 | +€115,325 | +197.2% |
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 9 October 2026 via checked.be.