COVAN CONSULT: 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 CONSULT
Largest movements
- Cash +€65,702
up €65,702 (+62.1%), from €105,849 to €171,551
mainly Net result for the year (+€61,339) and Advances received (+€21,008)
- Receivables within one year +€23,646
up €23,646 (+136%), from €17,378 to €41,024
of which Trade receivables: +€23,448
- Tangible fixed assets -€9,366
down €9,366 (-22.3%), from €41,923 to €32,557
of which Furniture and vehicles: -€9,817
- Reserves +€61,339
up €61,339 (+82.3%), from €74,504 to €135,843
- Advances received +€21,008
new in 2025: €21,008
- Debts after one year -€18,650
down €18,650 (-34.9%), from €53,425 to €34,775
- Tax, wage and social debts +€11,638
up €11,638 (+37.9%), from €30,702 to €42,341
- Trade debts +€5,547
up €5,547 (+214%), from €2,587 to €8,134
- Gross operating margin +€60,902
up €60,902 (+145%), from €41,926 to €102,828
- Taxes +€18,555
up €18,555 (+270%), from €6,873 to €25,428
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 | €165,384 | €245,367 | +€79,983 | +48.4% |
| Fixed assets | 21/28 | €41,923 | €32,557 | -€9,366 | -22.3% |
| Tangible fixed assets | 22/27 | €41,923 | €32,557 | -€9,366 | -22.3% |
| Furniture and vehicles | 24 | €31,415 | €21,598 | -€9,817 | -31.3% |
| Other tangible fixed assets | 26 | €10,507 | €10,959 | +€452 | +4.3% |
| Current assets | 29/58 | €123,461 | €212,810 | +€89,348 | +72.4% |
| Amounts receivable within one year | 40/41 | €17,378 | €41,024 | +€23,646 | +136% |
| Trade receivables | 40 | €17,037 | €40,485 | +€23,448 | +138% |
| Other amounts receivable | 41 | €341 | €539 | +€198 | +58.0% |
| Cash at bank and in hand | 54/58 | €105,849 | €171,551 | +€65,702 | +62.1% |
| Deferred charges and accrued income | 490/1 | €235 | €235 | = | 0.0% |
| Total equity and liabilities | 10/49 | €165,384 | €245,367 | +€79,983 | +48.4% |
| Equity | 10/15 | €77,004 | €138,343 | +€61,339 | +79.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €74,504 | €135,843 | +€61,339 | +82.3% |
| Distributable reserves | 133 | €74,504 | €135,843 | +€61,339 | +82.3% |
| Amounts payable | 17/49 | €88,380 | €107,024 | +€18,644 | +21.1% |
| Amounts payable after more than one year | 17 | €53,425 | €34,775 | -€18,650 | -34.9% |
| Financial debts | 170/4 | €53,425 | €34,775 | -€18,650 | -34.9% |
| Amounts payable within one year | 42/48 | €34,955 | €72,249 | +€37,294 | +107% |
| Trade debts | 44 | €2,587 | €8,134 | +€5,547 | +214% |
| Suppliers | 440/4 | €2,587 | €8,134 | +€5,547 | +214% |
| Advances received on contracts in progress | 46 | - | €21,008 | +€21,008 | |
| Taxes, remuneration and social security | 45 | €30,702 | €42,341 | +€11,638 | +37.9% |
| Taxes | 450/3 | €30,702 | €42,341 | +€11,638 | +37.9% |
| Other amounts payable | 47/48 | €1,666 | €767 | -€899 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,736 | €14,253 | +€517 | +3.8% |
| Other operating charges | 640/8 | €388 | €804 | +€416 | +107% |
| Gross operating margin | 9900 | €41,926 | €102,828 | +€60,902 | +145% |
| Operating profit (loss) | 9901 | €27,801 | €87,770 | +€59,969 | +216% |
| Financial income | 75/76B | €252 | €817 | +€565 | +224% |
| Recurring financial income | 75 | €252 | €817 | +€565 | +224% |
| Financial charges | 65/66B | €2,438 | €1,821 | -€617 | -25.3% |
| Recurring financial charges | 65 | €2,438 | €1,821 | -€617 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €25,616 | €86,767 | +€61,151 | +239% |
| Income taxes | 67/77 | €6,873 | €25,428 | +€18,555 | +270% |
| Profit (loss) for the period | 9904 | €18,743 | €61,339 | +€42,595 | +227% |
| Profit (loss) for the period to be appropriated | 9905 | €18,743 | €61,339 | +€42,595 | +227% |
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 27 October 2026 via checked.be.