COVARIS: 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.
COVARIS
Largest movements
- Cash +€94,509
up €94,509 (+76.9%), from €122,820 to €217,329
mainly Net result for the year (+€93,064) and Tax, wage and social debts (+€5,416)
- Receivables within one year +€4,435
up €4,435 (+4.0%), from €109,929 to €114,363
of which Other amounts receivable: +€5,688
- Reserves +€93,064
up €93,064 (+46.9%), from €198,572 to €291,636
- Tax, wage and social debts +€5,416
up €5,416 (+17.3%), from €31,219 to €36,635
- Gross operating margin +€4,166
up €4,166 (+3.1%), from €134,709 to €138,875
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 | €234,869 | €332,751 | +€97,882 | +41.7% |
| Fixed assets | 21/28 | €2,120 | €1,059 | -€1,062 | -50.1% |
| Tangible fixed assets | 22/27 | €2,120 | €1,059 | -€1,062 | -50.1% |
| Furniture and vehicles | 24 | €2,120 | €1,059 | -€1,062 | -50.1% |
| Current assets | 29/58 | €232,749 | €331,692 | +€98,944 | +42.5% |
| Amounts receivable within one year | 40/41 | €109,929 | €114,363 | +€4,435 | +4.0% |
| Trade receivables | 40 | €93,946 | €92,692 | -€1,253 | -1.3% |
| Other amounts receivable | 41 | €15,983 | €21,671 | +€5,688 | +35.6% |
| Cash at bank and in hand | 54/58 | €122,820 | €217,329 | +€94,509 | +76.9% |
| Total equity and liabilities | 10/49 | €234,869 | €332,751 | +€97,882 | +41.7% |
| Equity | 10/15 | €200,072 | €293,136 | +€93,064 | +46.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €198,572 | €291,636 | +€93,064 | +46.9% |
| Distributable reserves | 133 | €198,572 | €291,636 | +€93,064 | +46.9% |
| Amounts payable | 17/49 | €34,797 | €39,615 | +€4,818 | +13.8% |
| Amounts payable within one year | 42/48 | €34,297 | €39,115 | +€4,818 | +14.0% |
| Trade debts | 44 | €1,804 | €1,393 | -€410 | -22.8% |
| Suppliers | 440/4 | €1,804 | €1,393 | -€410 | -22.8% |
| Taxes, remuneration and social security | 45 | €31,219 | €36,635 | +€5,416 | +17.3% |
| Taxes | 450/3 | €31,219 | €36,635 | +€5,416 | +17.3% |
| Other amounts payable | 47/48 | €1,275 | €1,087 | -€188 | -14.7% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,066 | €1,062 | -€5 | -0.4% |
| Other operating charges | 640/8 | €126 | €921 | +€795 | +631% |
| Gross operating margin | 9900 | €134,709 | €138,875 | +€4,166 | +3.1% |
| Operating profit (loss) | 9901 | €133,516 | €136,892 | +€3,376 | +2.5% |
| Financial charges | 65/66B | €133 | €228 | +€96 | +72.2% |
| Recurring financial charges | 65 | €133 | €228 | +€96 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €133,384 | €136,664 | +€3,280 | +2.5% |
| Income taxes | 67/77 | €42,625 | €43,600 | +€975 | +2.3% |
| Profit (loss) for the period | 9904 | €90,759 | €93,064 | +€2,305 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,759 | €93,064 | +€2,305 | +2.5% |
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 15 October 2026 via checked.be.