COV CONSULT: what changed
What changed
COV CONSULT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€3,894
2024 · €181,286-€185,180
Equity
€2.6m
2024 · €2.6m-€3,894
Cash
€270,856
2024 · €131,899+€138,957
Balance sheet total
€3.9m
2024 · €4.0m-€102,214
Largest movements
Assets
- Current investments -€300,000
down €300,000 (-100%), from €300,000 to €0
- Cash +€138,957
up €138,957 (+105%), from €131,899 to €270,856
mainly Current investments (+€300,000) and Depreciation (+€128,432)
Equity and liabilities
- Debts after one year -€120,333
down €120,333 (-21.7%), from €555,138 to €434,804
Income statement
- Financial income -€150,308
down €150,308 (-96.8%), from €155,262 to €4,953
- Gross operating margin -€77,098
down €77,098 (-24.1%), from €319,858 to €242,760
- Taxes -€31,771
down €31,771 (-73.1%), from €43,445 to €11,674
- Depreciation -€14,167
down €14,167 (-9.9%), from €142,599 to €128,432
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€181,286
Gross operating margin
-€77,098
Staff costs
-€2,758
Depreciation
+€14,167
Other operating charges
-€263
Financial income
-€150,308
Financial charges
-€690
Taxes
+€31,771
Result 2025
-€3,894
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€125,619
Investment
+€133,671
Financing
-€120,333
Cash 2024
€131,899
From operations (derived)
+€125,619
Net result for the year
-€3,894
Depreciation
+€128,432
Receivables within one year
-€19,811
Deferred charges and accrued income
-€1,121
Trade debts
+€17,993
Tax, wage and social debts
-€21,074
Other debts
+€24,694
Accrued charges and deferred income
+€400
Investment (derived)
+€133,671
Investment in fixed assets (net)
-€166,329
Current investments
+€300,000
Financing
-€120,333
Debts after one year
-€120,333
Cash 2025
€270,856
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,962,711 | €3,860,497 | -€102,214 | -2.6% |
| Fixed assets | 21/28 | €3,483,623 | €3,521,521 | +€37,898 | +1.1% |
| Tangible fixed assets | 22/27 | €1,433,732 | €1,471,630 | +€37,898 | +2.6% |
| Land and buildings | 22 | €1,329,174 | €1,360,183 | +€31,009 | +2.3% |
| Furniture and vehicles | 24 | €95,284 | €104,575 | +€9,291 | +9.8% |
| Other tangible fixed assets | 26 | €9,274 | €6,872 | -€2,402 | -25.9% |
| Financial fixed assets | 28 | €2,049,891 | €2,049,891 | = | 0.0% |
| Current assets | 29/58 | €479,088 | €338,977 | -€140,111 | -29.2% |
| Amounts receivable within one year | 40/41 | €34,998 | €54,809 | +€19,811 | +56.6% |
| Trade receivables | 40 | €34,414 | €34,404 | -€11 | 0.0% |
| Other amounts receivable | 41 | €584 | €20,405 | +€19,821 | +3,394% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100% |
| Cash at bank and in hand | 54/58 | €131,899 | €270,856 | +€138,957 | +105% |
| Deferred charges and accrued income | 490/1 | €12,190 | €13,312 | +€1,121 | +9.2% |
| Total equity and liabilities | 10/49 | €3,962,711 | €3,860,497 | -€102,214 | -2.6% |
| Equity | 10/15 | €2,562,963 | €2,559,069 | -€3,894 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,544,363 | €2,544,363 | = | 0.0% |
| Distributable reserves | 133 | €2,544,363 | €2,544,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,894 | -€3,894 | |
| Amounts payable | 17/49 | €1,399,749 | €1,301,429 | -€98,320 | -7.0% |
| Amounts payable after more than one year | 17 | €555,138 | €434,804 | -€120,333 | -21.7% |
| Financial debts | 170/4 | €555,138 | €434,804 | -€120,333 | -21.7% |
| Amounts payable within one year | 42/48 | €844,611 | €866,224 | +€21,613 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €120,333 | €120,333 | = | 0.0% |
| Trade debts | 44 | €19,207 | €37,200 | +€17,993 | +93.7% |
| Suppliers | 440/4 | €19,207 | €37,200 | +€17,993 | +93.7% |
| Taxes, remuneration and social security | 45 | €43,597 | €22,524 | -€21,074 | -48.3% |
| Taxes | 450/3 | €35,285 | €17,608 | -€17,677 | -50.1% |
| Remuneration and social security | 454/9 | €8,312 | €4,916 | -€3,396 | -40.9% |
| Other amounts payable | 47/48 | €661,473 | €686,167 | +€24,694 | +3.7% |
| Accrued charges and deferred income | 492/3 | €0 | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €36,727 | €39,485 | +€2,758 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,599 | €128,432 | -€14,167 | -9.9% |
| Other operating charges | 640/8 | €13,068 | €13,331 | +€263 | +2.0% |
| Gross operating margin | 9900 | €319,858 | €242,760 | -€77,098 | -24.1% |
| Operating profit (loss) | 9901 | €127,464 | €61,512 | -€65,952 | -51.7% |
| Financial income | 75/76B | €155,262 | €4,953 | -€150,308 | -96.8% |
| Recurring financial income | 75 | €155,262 | €4,953 | -€150,308 | -96.8% |
| Financial charges | 65/66B | €57,995 | €58,685 | +€690 | +1.2% |
| Recurring financial charges | 65 | €57,995 | €53,166 | -€4,829 | -8.3% |
| Non-recurring financial charges | 66B | - | €5,520 | +€5,520 | |
| Profit (loss) for the period before taxes | 9903 | €224,731 | €7,780 | -€216,951 | -96.5% |
| Income taxes | 67/77 | €43,445 | €11,674 | -€31,771 | -73.1% |
| Profit (loss) for the period | 9904 | €181,286 | -€3,894 | -€185,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €181,286 | -€3,894 | -€185,180 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.