COVATEC: what changed
Two fiscal 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.
COVATEC
Largest movements
- Deferred charges and accrued income -€49,245
down €49,245 (-98.7%), from €49,873 to €628
- Current investments +€9,000
up €9,000 (+23.4%), from €38,500 to €47,500
- Tangible fixed assets +€3,678
up €3,678 (+150.7%), from €2,441 to €6,118
of which Furniture and vehicles: +€4,005
- Trade debts -€34,871
down €34,871 (-98.6%), from €35,370 to €498
- Reserves +€20,155
up €20,155 (+718.7%), from €2,805 to €22,959
- Other debts -€19,387
down €19,387 (-31.2%), from €62,204 to €42,818
- Tax, wage and social debts -€2,821
down €2,821 (-22.0%), from €12,801 to €9,979
- Gross operating margin -€5,366
down €5,366 (-8.2%), from €65,517 to €60,151
- Taxes -€1,737
down €1,737 (-12.8%), from €13,553 to €11,816
- Other operating charges -€840
down €840 (-45.1%), from €1,863 to €1,022
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,779 | €94,855 | -€36,925 | -28.0% |
| Fixed assets | 21/28 | €2,441 | €6,118 | +€3,678 | +150.7% |
| Tangible fixed assets | 22/27 | €2,441 | €6,118 | +€3,678 | +150.7% |
| Plant, machinery and equipment | 23 | €328 | - | -€328 | |
| Furniture and vehicles | 24 | €2,113 | €6,118 | +€4,005 | +189.5% |
| Current assets | 29/58 | €129,339 | €88,737 | -€40,602 | -31.4% |
| Amounts receivable within one year | 40/41 | €12,739 | €13,000 | +€261 | +2.0% |
| Trade receivables | 40 | €12,728 | €13,000 | +€272 | +2.1% |
| Other amounts receivable | 41 | €11 | - | -€11 | |
| Current investments | 50/53 | €38,500 | €47,500 | +€9,000 | +23.4% |
| Cash at bank and in hand | 54/58 | €28,227 | €27,608 | -€618 | -2.2% |
| Deferred charges and accrued income | 490/1 | €49,873 | €628 | -€49,245 | -98.7% |
| Total equity and liabilities | 10/49 | €131,779 | €94,855 | -€36,925 | -28.0% |
| Equity | 10/15 | €21,405 | €41,559 | +€20,155 | +94.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,805 | €22,959 | +€20,155 | +718.7% |
| Distributable reserves | 133 | €2,805 | €22,959 | +€20,155 | +718.7% |
| Amounts payable | 17/49 | €110,375 | €53,295 | -€57,079 | -51.7% |
| Amounts payable within one year | 42/48 | €110,375 | €53,295 | -€57,079 | -51.7% |
| Trade debts | 44 | €35,370 | €498 | -€34,871 | -98.6% |
| Suppliers | 440/4 | €35,370 | €498 | -€34,871 | -98.6% |
| Taxes, remuneration and social security | 45 | €12,801 | €9,979 | -€2,821 | -22.0% |
| Taxes | 450/3 | €12,801 | €9,979 | -€2,821 | -22.0% |
| Other amounts payable | 47/48 | €62,204 | €42,818 | -€19,387 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €454 | €978 | +€524 | +115.4% |
| Other operating charges | 640/8 | €1,863 | €1,022 | -€840 | -45.1% |
| Gross operating margin | 9900 | €65,517 | €60,151 | -€5,366 | -8.2% |
| Operating profit (loss) | 9901 | €63,200 | €58,151 | -€5,049 | -8.0% |
| Financial income | 75/76B | €200 | €291 | +€91 | +45.2% |
| Recurring financial income | 75 | €200 | €291 | +€91 | +45.2% |
| Financial charges | 65/66B | €2,043 | €1,471 | -€572 | -28.0% |
| Recurring financial charges | 65 | €2,043 | €1,471 | -€572 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €61,358 | €56,971 | -€4,387 | -7.1% |
| Income taxes | 67/77 | €13,553 | €11,816 | -€1,737 | -12.8% |
| Profit (loss) for the period | 9904 | €47,805 | €45,155 | -€2,650 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,805 | €45,155 | -€2,650 | -5.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.