Covani: 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.
Covani
Largest movements
- Current investments -€700,000
down €700,000 (-77.8%), from €900,000 to €200,000
- Cash -€35,184
down €35,184 (-32.9%), from €106,902 to €71,718
mainly Contributions, distributions and other (-€1.1m) and Smaller working-capital items (-€1,930)
- Receivables within one year -€26,624
down €26,624 (-57.1%), from €46,589 to €19,965
of which Other amounts receivable: -€26,624
- Contributions -€1.0m
down €1.0m (-95.4%), from €1.1m to €50,000
- Reserves +€150,934
up €150,934 (+12.1%), from €1.2m to €1.4m
of which Distributable reserves: +€173,934
- Other debts +€115,132
new in 2025: €115,132
- Gross operating margin +€24,623
up €24,623 (+11.9%), from €207,541 to €232,164
- Financial income -€9,266
down €9,266 (-34.4%), from €26,975 to €17,709
- Taxes +€5,376
up €5,376 (+7.5%), from €71,315 to €76,691
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 | €2,371,141 | €1,601,730 | -€769,411 | -32.4% |
| Fixed assets | 21/28 | €1,317,650 | €1,310,047 | -€7,603 | -0.6% |
| Tangible fixed assets | 22/27 | €227,521 | €219,918 | -€7,603 | -3.3% |
| Land and buildings | 22 | €226,379 | €219,126 | -€7,253 | -3.2% |
| Furniture and vehicles | 24 | €1,142 | €792 | -€350 | -30.6% |
| Financial fixed assets | 28 | €1,090,129 | €1,090,129 | = | 0.0% |
| Current assets | 29/58 | €1,053,491 | €291,683 | -€761,808 | -72.3% |
| Amounts receivable within one year | 40/41 | €46,589 | €19,965 | -€26,624 | -57.1% |
| Trade receivables | 40 | €19,965 | €19,965 | = | 0.0% |
| Other amounts receivable | 41 | €26,624 | - | -€26,624 | |
| Current investments | 50/53 | €900,000 | €200,000 | -€700,000 | -77.8% |
| Cash at bank and in hand | 54/58 | €106,902 | €71,718 | -€35,184 | -32.9% |
| Total equity and liabilities | 10/49 | €2,371,141 | €1,601,730 | -€769,411 | -32.4% |
| Equity | 10/15 | €2,337,954 | €1,447,888 | -€890,066 | -38.1% |
| Contributions | 10/11 | €1,091,000 | €50,000 | -€1.0m | -95.4% |
| Reserves | 13 | €1,246,954 | €1,397,888 | +€150,934 | +12.1% |
| Non-distributable reserves | 130/1 | €23,000 | - | -€23,000 | |
| Reserves not available under the articles | 1311 | €23,000 | - | -€23,000 | |
| Distributable reserves | 133 | €1,223,954 | €1,397,888 | +€173,934 | +14.2% |
| Amounts payable | 17/49 | €33,187 | €153,842 | +€120,655 | +364% |
| Amounts payable within one year | 42/48 | €31,424 | €153,842 | +€122,418 | +390% |
| Trade debts | 44 | €1,062 | €895 | -€167 | -15.7% |
| Suppliers | 440/4 | €1,062 | €895 | -€167 | -15.7% |
| Taxes, remuneration and social security | 45 | €30,362 | €37,815 | +€7,453 | +24.5% |
| Taxes | 450/3 | €30,362 | €37,815 | +€7,453 | +24.5% |
| Other amounts payable | 47/48 | - | €115,132 | +€115,132 | |
| Accrued charges and deferred income | 492/3 | €1,763 | - | -€1,763 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,043 | €7,603 | -€440 | -5.5% |
| Other operating charges | 640/8 | €2,285 | €2,342 | +€57 | +2.5% |
| Gross operating margin | 9900 | €207,541 | €232,164 | +€24,623 | +11.9% |
| Operating profit (loss) | 9901 | €197,213 | €222,219 | +€25,006 | +12.7% |
| Financial income | 75/76B | €26,975 | €17,709 | -€9,266 | -34.4% |
| Recurring financial income | 75 | €26,975 | €17,709 | -€9,266 | -34.4% |
| Financial charges | 65/66B | €53 | €46 | -€7 | -13.2% |
| Recurring financial charges | 65 | €53 | €46 | -€7 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €224,135 | €239,882 | +€15,747 | +7.0% |
| Income taxes | 67/77 | €71,315 | €76,691 | +€5,376 | +7.5% |
| Profit (loss) for the period | 9904 | €152,820 | €163,191 | +€10,371 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €152,820 | €163,191 | +€10,371 | +6.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.