COVAN: 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.
COVAN
Largest movements
- Tangible fixed assets -€30,925
down €30,925 (-5.5%), from €557,794 to €526,869
- Debts after one year -€20,138
down €20,138 (-10.0%), from €201,804 to €181,666
- Profit (loss) carried forward -€12,389
down €12,389 (-80.3%), from -€15,428 to -€27,817
- Depreciation +€8,832
up €8,832 (+40.0%), from €22,093 to €30,925
- Other operating charges +€5,897
up €5,897 (+225%), from €2,627 to €8,524
- Gross operating margin +€5,856
up €5,856 (+23.2%), from €25,191 to €31,046
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 | €561,686 | €534,385 | -€27,301 | -4.9% |
| Fixed assets | 21/28 | €557,794 | €526,869 | -€30,925 | -5.5% |
| Tangible fixed assets | 22/27 | €557,794 | €526,869 | -€30,925 | -5.5% |
| Land and buildings | 22 | €557,794 | €526,869 | -€30,925 | -5.5% |
| Current assets | 29/58 | €3,892 | €7,516 | +€3,624 | +93.1% |
| Amounts receivable within one year | 40/41 | €27 | €4,032 | +€4,005 | +14,569% |
| Trade receivables | 40 | - | €4,032 | +€4,032 | |
| Other amounts receivable | 41 | €27 | €0 | -€27 | -100% |
| Cash at bank and in hand | 54/58 | €3,864 | €3,484 | -€381 | -9.8% |
| Total equity and liabilities | 10/49 | €561,686 | €534,385 | -€27,301 | -4.9% |
| Equity | 10/15 | €3,572 | -€8,817 | -€12,389 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,428 | -€27,817 | -€12,389 | -80.3% |
| Amounts payable | 17/49 | €558,114 | €543,202 | -€14,911 | -2.7% |
| Amounts payable after more than one year | 17 | €201,804 | €181,666 | -€20,138 | -10.0% |
| Financial debts | 170/4 | €201,804 | €181,666 | -€20,138 | -10.0% |
| Amounts payable within one year | 42/48 | €356,309 | €361,536 | +€5,227 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €19,847 | €20,138 | +€292 | +1.5% |
| Trade debts | 44 | €1,557 | €0 | -€1,557 | -100% |
| Suppliers | 440/4 | €1,557 | €0 | -€1,557 | -100% |
| Taxes, remuneration and social security | 45 | €146 | €4,442 | +€4,297 | +2,953% |
| Taxes | 450/3 | €146 | €4,442 | +€4,297 | +2,953% |
| Other amounts payable | 47/48 | €334,761 | €336,956 | +€2,195 | +0.7% |
| Non-recurring operating income | 76A | €525 | €2,151 | +€1,626 | +310% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,093 | €30,925 | +€8,832 | +40.0% |
| Other operating charges | 640/8 | €2,627 | €8,524 | +€5,897 | +225% |
| Gross operating margin | 9900 | €25,191 | €31,046 | +€5,856 | +23.2% |
| Operating profit (loss) | 9901 | €471 | -€8,402 | -€8,873 | |
| Financial charges | 65/66B | €3,680 | €3,987 | +€307 | +8.3% |
| Recurring financial charges | 65 | €3,680 | €3,987 | +€307 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,209 | -€12,389 | -€9,180 | -286% |
| Profit (loss) for the period | 9904 | -€3,209 | -€12,389 | -€9,180 | -286% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,209 | -€12,389 | -€9,180 | -286% |
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 28 October 2026 via checked.be.