Cova Or: 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.
Cova Or
Largest movements
- Cash -€7,976
down €7,976 (-64.6%), from €12,339 to €4,363
mainly Receivables within one year (-€4,416) and Net result for the year (-€3,844)
- Receivables within one year +€4,416
up €4,416 (+98.5%), from €4,486 to €8,902
of which Trade receivables: +€2,894
- Tangible fixed assets -€2,748
down €2,748 (-24.3%), from €11,311 to €8,563
- Reserves -€3,844
down €3,844 (-18.3%), from €20,961 to €17,117
- Tax, wage and social debts -€1,722
down €1,722 (-73.0%), from €2,360 to €638
- Other debts -€1,505
no longer reported in 2025 (was €1,505)
- Trade debts +€764
up €764 (+246%), from €310 to €1,074
- Gross operating margin -€11,772
down €11,772, from €10,948 to -€824
- Financial income -€301
no longer reported in 2025 (was €301)
- Other operating charges +€147
new in 2025: €147
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 | €28,136 | €21,829 | -€6,307 | -22.4% |
| Fixed assets | 21/28 | €11,311 | €8,563 | -€2,748 | -24.3% |
| Tangible fixed assets | 22/27 | €11,311 | €8,563 | -€2,748 | -24.3% |
| Plant, machinery and equipment | 23 | €998 | €636 | -€362 | -36.3% |
| Furniture and vehicles | 24 | €4,933 | €3,624 | -€1,309 | -26.5% |
| Other tangible fixed assets | 26 | €5,380 | €4,304 | -€1,077 | -20.0% |
| Current assets | 29/58 | €16,825 | €13,266 | -€3,559 | -21.2% |
| Amounts receivable within one year | 40/41 | €4,486 | €8,902 | +€4,416 | +98.5% |
| Trade receivables | 40 | €2,736 | €5,630 | +€2,894 | +106% |
| Other amounts receivable | 41 | €1,750 | €3,272 | +€1,522 | +87.0% |
| Cash at bank and in hand | 54/58 | €12,339 | €4,363 | -€7,976 | -64.6% |
| Total equity and liabilities | 10/49 | €28,136 | €21,829 | -€6,307 | -22.4% |
| Equity | 10/15 | €23,961 | €20,117 | -€3,844 | -16.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €20,961 | €17,117 | -€3,844 | -18.3% |
| Distributable reserves | 133 | €20,961 | €17,117 | -€3,844 | -18.3% |
| Amounts payable | 17/49 | €4,176 | €1,712 | -€2,463 | -59.0% |
| Amounts payable within one year | 42/48 | €4,176 | €1,712 | -€2,463 | -59.0% |
| Trade debts | 44 | €310 | €1,074 | +€764 | +246% |
| Suppliers | 440/4 | €310 | €1,074 | +€764 | +246% |
| Taxes, remuneration and social security | 45 | €2,360 | €638 | -€1,722 | -73.0% |
| Taxes | 450/3 | €2,360 | €638 | -€1,722 | -73.0% |
| Other amounts payable | 47/48 | €1,505 | - | -€1,505 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,706 | €2,748 | +€42 | +1.6% |
| Other operating charges | 640/8 | - | €147 | +€147 | |
| Gross operating margin | 9900 | €10,948 | -€824 | -€11,772 | |
| Operating profit (loss) | 9901 | €8,242 | -€3,719 | -€11,961 | |
| Financial income | 75/76B | €301 | - | -€301 | |
| Recurring financial income | 75 | €301 | - | -€301 | |
| Financial charges | 65/66B | €124 | €125 | +€1 | +0.7% |
| Recurring financial charges | 65 | €124 | €125 | +€1 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €8,419 | -€3,844 | -€12,263 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €8,419 | -€3,844 | -€12,263 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,419 | -€3,844 | -€12,263 |
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 16 October 2026 via checked.be.