COVALUX IMMO: 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.
COVALUX IMMO
Largest movements
- Tangible fixed assets -€142,265
down €142,265 (-4.5%), from €3.2m to €3.0m
of which Land and buildings: -€137,572
- Receivables within one year +€73,399
up €73,399 (+22.6%), from €324,178 to €397,577
of which Other amounts receivable: +€249,390
- Debts after one year -€152,225
down €152,225 (-27.3%), from €557,635 to €405,410
- Profit (loss) carried forward +€67,030
up €67,030 (+4.2%), from €1.6m to €1.7m
- Taxes +€84,173
up €84,173 (+496%), from €16,980 to €101,153
- Gross operating margin -€70,340
down €70,340 (-14.9%), from €473,321 to €402,982
- Financial charges -€5,535
down €5,535 (-23.1%), from €23,958 to €18,423
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,486,907 | €3,419,556 | -€67,351 | -1.9% |
| Fixed assets | 21/28 | €3,159,539 | €3,017,274 | -€142,265 | -4.5% |
| Tangible fixed assets | 22/27 | €3,159,539 | €3,017,274 | -€142,265 | -4.5% |
| Land and buildings | 22 | €1,788,383 | €1,650,811 | -€137,572 | -7.7% |
| Leasing and similar rights | 25 | €1,371,156 | €1,305,863 | -€65,293 | -4.8% |
| Assets under construction and advance payments | 27 | - | €60,601 | +€60,601 | |
| Current assets | 29/58 | €327,368 | €402,281 | +€74,913 | +22.9% |
| Amounts receivable within one year | 40/41 | €324,178 | €397,577 | +€73,399 | +22.6% |
| Trade receivables | 40 | €187,074 | €11,084 | -€175,991 | -94.1% |
| Other amounts receivable | 41 | €137,104 | €386,493 | +€249,390 | +182% |
| Deferred charges and accrued income | 490/1 | €3,190 | €4,704 | +€1,514 | +47.5% |
| Total equity and liabilities | 10/49 | €3,486,907 | €3,419,556 | -€67,351 | -1.9% |
| Equity | 10/15 | €2,692,759 | €2,747,435 | +€54,676 | +2.0% |
| Contributions | 10/11 | €768,001 | €768,001 | = | 0.0% |
| Revaluation surpluses | 12 | €1,536 | €0 | -€1,536 | -100% |
| Reserves | 13 | €327,876 | €317,059 | -€10,817 | -3.3% |
| Non-distributable reserves | 130/1 | €76,855 | €76,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €76,855 | €76,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €138,519 | €126,166 | -€12,354 | -8.9% |
| Distributable reserves | 133 | €112,502 | €114,038 | +€1,536 | +1.4% |
| Profit (loss) carried forward | 14 | €1,595,346 | €1,662,376 | +€67,030 | +4.2% |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €53,856 | €48,612 | -€5,244 | -9.7% |
| Deferred taxes | 168 | €53,856 | €48,612 | -€5,244 | -9.7% |
| Amounts payable | 17/49 | €740,292 | €623,508 | -€116,784 | -15.8% |
| Amounts payable after more than one year | 17 | €557,635 | €405,410 | -€152,225 | -27.3% |
| Financial debts | 170/4 | €557,635 | €405,410 | -€152,225 | -27.3% |
| Amounts payable within one year | 42/48 | €182,656 | €218,097 | +€35,441 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €148,178 | €152,153 | +€3,976 | +2.7% |
| Trade debts | 44 | €23,468 | €28,375 | +€4,907 | +20.9% |
| Suppliers | 440/4 | €23,468 | €28,375 | +€4,907 | +20.9% |
| Taxes, remuneration and social security | 45 | €10,941 | €37,500 | +€26,559 | +243% |
| Taxes | 450/3 | €10,941 | €37,500 | +€26,559 | +243% |
| Other amounts payable | 47/48 | €69 | €69 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,865 | €202,865 | +€0 | 0.0% |
| Other operating charges | 640/8 | €36,252 | €38,189 | +€1,937 | +5.3% |
| Gross operating margin | 9900 | €473,321 | €402,982 | -€70,340 | -14.9% |
| Operating profit (loss) | 9901 | €234,204 | €161,927 | -€72,276 | -30.9% |
| Financial income | 75/76B | €5,440 | €7,081 | +€1,641 | +30.2% |
| Recurring financial income | 75 | €5,440 | €7,081 | +€1,641 | +30.2% |
| Financial charges | 65/66B | €23,958 | €18,423 | -€5,535 | -23.1% |
| Recurring financial charges | 65 | €23,958 | €18,423 | -€5,535 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €215,686 | €150,585 | -€65,100 | -30.2% |
| Transfer from deferred taxes | 780 | €5,244 | €5,244 | = | 0.0% |
| Income taxes | 67/77 | €16,980 | €101,153 | +€84,173 | +496% |
| Profit (loss) for the period | 9904 | €203,950 | €54,676 | -€149,274 | -73.2% |
| Transfer from tax-exempt reserves | 789 | €12,354 | €12,354 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €216,303 | €67,030 | -€149,274 | -69.0% |
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 19 October 2026 via checked.be.