COVALGO: 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.
COVALGO
Largest movements
- Cash -€12,390
down €12,390 (-17.3%), from €71,639 to €59,249
mainly Other debts (-€24,500) and Investment in fixed assets (net) (-€11,519)
- Tangible fixed assets +€7,123
up €7,123 (+412.6%), from €1,726 to €8,849
of which Other tangible fixed assets: +€4,418
- Receivables within one year +€2,235
up €2,235 (+2.5%), from €91,087 to €93,322
of which Other amounts receivable: +€6,470
- Profit (loss) carried forward +€49,889
no longer reported in 2025 (was -€49,889)
- Reserves -€35,872
down €35,872 (-22.4%), from €160,266 to €124,395
- Other debts -€24,500
down €24,500 (-73.7%), from €33,241 to €8,741
- Trade debts +€8,380
up €8,380 (+1508.6%), from €556 to €8,936
- Accrued charges and deferred income -€2,400
no longer reported in 2025 (was €2,400)
- Gross operating margin +€66,002
up €66,002, from -€48,449 to €17,553
- Depreciation +€3,310
up €3,310 (+304.7%), from €1,086 to €4,396
- Financial charges -€795
down €795 (-30.4%), from €2,619 to €1,824
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 | €165,725 | €162,080 | -€3,645 | -2.2% |
| Fixed assets | 21/28 | €1,816 | €8,939 | +€7,123 | +392.2% |
| Tangible fixed assets | 22/27 | €1,726 | €8,849 | +€7,123 | +412.6% |
| Plant, machinery and equipment | 23 | €140 | €18 | -€122 | -87.1% |
| Furniture and vehicles | 24 | €1,586 | €4,413 | +€2,827 | +178.2% |
| Other tangible fixed assets | 26 | - | €4,418 | +€4,418 | |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €163,909 | €153,141 | -€10,768 | -6.6% |
| Amounts receivable within one year | 40/41 | €91,087 | €93,322 | +€2,235 | +2.5% |
| Trade receivables | 40 | €12,705 | €8,470 | -€4,235 | -33.3% |
| Other amounts receivable | 41 | €78,382 | €84,852 | +€6,470 | +8.3% |
| Cash at bank and in hand | 54/58 | €71,639 | €59,249 | -€12,390 | -17.3% |
| Deferred charges and accrued income | 490/1 | €1,183 | €570 | -€613 | -51.8% |
| Total equity and liabilities | 10/49 | €165,725 | €162,080 | -€3,645 | -2.2% |
| Equity | 10/15 | €128,978 | €142,995 | +€14,017 | +10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,266 | €124,395 | -€35,872 | -22.4% |
| Distributable reserves | 133 | €160,266 | €124,395 | -€35,872 | -22.4% |
| Profit (loss) carried forward | 14 | -€49,889 | - | +€49,889 | |
| Amounts payable | 17/49 | €36,747 | €19,086 | -€17,662 | -48.1% |
| Amounts payable within one year | 42/48 | €34,347 | €19,086 | -€15,262 | -44.4% |
| Trade debts | 44 | €556 | €8,936 | +€8,380 | +1508.6% |
| Suppliers | 440/4 | €556 | €8,936 | +€8,380 | +1508.6% |
| Taxes, remuneration and social security | 45 | €551 | €1,409 | +€858 | +155.7% |
| Taxes | 450/3 | €551 | €1,409 | +€858 | +155.7% |
| Other amounts payable | 47/48 | €33,241 | €8,741 | -€24,500 | -73.7% |
| Accrued charges and deferred income | 492/3 | €2,400 | - | -€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,086 | €4,396 | +€3,310 | +304.7% |
| Other operating charges | 640/8 | €111 | - | -€111 | |
| Gross operating margin | 9900 | -€48,449 | €17,553 | +€66,002 | |
| Operating profit (loss) | 9901 | -€49,647 | €13,157 | +€62,804 | |
| Financial income | 75/76B | €2,741 | €3,033 | +€292 | +10.7% |
| Recurring financial income | 75 | €2,741 | €3,033 | +€292 | +10.7% |
| Financial charges | 65/66B | €2,619 | €1,824 | -€795 | -30.4% |
| Recurring financial charges | 65 | €2,619 | €1,824 | -€795 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,525 | €14,366 | +€63,892 | |
| Income taxes | 67/77 | €363 | €349 | -€14 | -3.9% |
| Profit (loss) for the period | 9904 | -€49,889 | €14,017 | +€63,906 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,889 | €14,017 | +€63,906 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.