COV SERVICES: 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.
COV SERVICES
Largest movements
- Receivables within one year -€35,841
down €35,841 (-23.0%), from €155,570 to €119,729
of which Other amounts receivable: -€63,312
- Stocks and contracts +€10,818
up €10,818 (+161.5%), from €6,697 to €17,515
- Cash +€7,241
up €7,241 (+281.4%), from €2,573 to €9,814
mainly Receivables within one year (+€35,841) and Trade debts (+€10,223)
- Deferred charges and accrued income +€1,933
up €1,933 (+94.0%), from €2,057 to €3,989
- Short-term financial debts -€20,143
no longer reported in 2025 (was €20,143)
- Debts after one year -€17,737
down €17,737 (-78.0%), from €22,737 to €5,000
- Trade debts +€10,223
up €10,223 (+132.3%), from €7,726 to €17,950
- Profit (loss) carried forward +€9,931
up €9,931 (+23.8%), from €41,769 to €51,700
- Tax, wage and social debts +€5,156
up €5,156 (+16.4%), from €31,428 to €36,584
of which Remuneration and social security: +€13,349
- Gross operating margin +€23,001
up €23,001 (+30.6%), from €75,232 to €98,233
- Staff costs +€13,100
up €13,100 (+20.3%), from €64,417 to €77,517
- Taxes +€2,660
up €2,660 (+81.8%), from €3,253 to €5,914
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 | €172,438 | €157,422 | -€15,016 | -8.7% |
| Fixed assets | 21/28 | €5,542 | €6,375 | +€833 | +15.0% |
| Tangible fixed assets | 22/27 | €5,452 | €6,285 | +€833 | +15.3% |
| Furniture and vehicles | 24 | - | €2,391 | +€2,391 | |
| Other tangible fixed assets | 26 | €5,452 | €3,894 | -€1,558 | -28.6% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €166,896 | €151,047 | -€15,849 | -9.5% |
| Stocks and contracts in progress | 3 | €6,697 | €17,515 | +€10,818 | +161.5% |
| Stocks | 30/36 | €6,697 | €17,515 | +€10,818 | +161.5% |
| Amounts receivable within one year | 40/41 | €155,570 | €119,729 | -€35,841 | -23.0% |
| Trade receivables | 40 | €50,327 | €77,797 | +€27,471 | +54.6% |
| Other amounts receivable | 41 | €105,243 | €41,931 | -€63,312 | -60.2% |
| Cash at bank and in hand | 54/58 | €2,573 | €9,814 | +€7,241 | +281.4% |
| Deferred charges and accrued income | 490/1 | €2,057 | €3,989 | +€1,933 | +94.0% |
| Total equity and liabilities | 10/49 | €172,438 | €157,422 | -€15,016 | -8.7% |
| Equity | 10/15 | €70,220 | €80,151 | +€9,931 | +14.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,859 | €9,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,769 | €51,700 | +€9,931 | +23.8% |
| Amounts payable | 17/49 | €102,218 | €77,271 | -€24,947 | -24.4% |
| Amounts payable after more than one year | 17 | €22,737 | €5,000 | -€17,737 | -78.0% |
| Financial debts | 170/4 | €22,737 | €5,000 | -€17,737 | -78.0% |
| Amounts payable within one year | 42/48 | €79,481 | €72,271 | -€7,210 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €20,184 | €17,737 | -€2,447 | -12.1% |
| Financial debts | 43 | €20,143 | - | -€20,143 | |
| Credit institutions | 430/8 | €20,143 | - | -€20,143 | |
| Trade debts | 44 | €7,726 | €17,950 | +€10,223 | +132.3% |
| Suppliers | 440/4 | €7,726 | €17,950 | +€10,223 | +132.3% |
| Taxes, remuneration and social security | 45 | €31,428 | €36,584 | +€5,156 | +16.4% |
| Taxes | 450/3 | €22,346 | €14,153 | -€8,193 | -36.7% |
| Remuneration and social security | 454/9 | €9,082 | €22,432 | +€13,349 | +147.0% |
| Remuneration, social security and pensions | 62 | €64,417 | €77,517 | +€13,100 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,558 | €1,908 | +€350 | +22.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €75,232 | €98,233 | +€23,001 | +30.6% |
| Operating profit (loss) | 9901 | €8,870 | €18,409 | +€9,538 | +107.5% |
| Financial income | 75/76B | €1,392 | €1,263 | -€128 | -9.2% |
| Recurring financial income | 75 | €1,392 | €1,263 | -€128 | -9.2% |
| Financial charges | 65/66B | €3,971 | €3,827 | -€144 | -3.6% |
| Recurring financial charges | 65 | €3,971 | €3,827 | -€144 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €6,291 | €15,845 | +€9,554 | +151.9% |
| Income taxes | 67/77 | €3,253 | €5,914 | +€2,660 | +81.8% |
| Profit (loss) for the period | 9904 | €3,038 | €9,931 | +€6,894 | +226.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,038 | €9,931 | +€6,894 | +226.9% |
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 3 October 2026 via checked.be.