COVE: 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.
COVE
Largest movements
- Cash +€22,953
up €22,953 (+290.3%), from €7,907 to €30,860
mainly Receivables within one year (+€19,885) and Net result for the year (+€8,054)
- Receivables within one year -€19,885
down €19,885 (-38.7%), from €51,438 to €31,554
of which Trade receivables: -€20,383
- Tangible fixed assets -€3,713
down €3,713 (-80.3%), from €4,625 to €913
- Deferred charges and accrued income -€1,117
down €1,117 (-45.2%), from €2,470 to €1,353
- Reserves +€8,054
up €8,054 (+22.3%), from €36,044 to €44,098
- Tax, wage and social debts -€7,911
down €7,911 (-93.9%), from €8,423 to €512
- Trade debts -€1,663
down €1,663 (-85.8%), from €1,939 to €276
- Gross operating margin +€5,564
up €5,564 (+55.7%), from €9,987 to €15,551
- Depreciation -€1,562
down €1,562 (-56.0%), from €2,787 to €1,225
- Taxes +€1,462
up €1,462 (+85.3%), from €1,713 to €3,175
- Other operating charges +€434
up €434 (+24.8%), from €1,753 to €2,187
- Financial charges +€285
up €285 (+45.6%), from €626 to €911
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.
Cash bridge derived
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 | €68,441 | €66,680 | -€1,761 | -2.6% |
| Fixed assets | 21/28 | €4,625 | €913 | -€3,713 | -80.3% |
| Tangible fixed assets | 22/27 | €4,625 | €913 | -€3,713 | -80.3% |
| Furniture and vehicles | 24 | €4,625 | €913 | -€3,713 | -80.3% |
| Current assets | 29/58 | €63,815 | €65,767 | +€1,952 | +3.1% |
| Amounts receivable within one year | 40/41 | €51,438 | €31,554 | -€19,885 | -38.7% |
| Trade receivables | 40 | €33,381 | €12,997 | -€20,383 | -61.1% |
| Other amounts receivable | 41 | €18,058 | €18,556 | +€499 | +2.8% |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,907 | €30,860 | +€22,953 | +290.3% |
| Deferred charges and accrued income | 490/1 | €2,470 | €1,353 | -€1,117 | -45.2% |
| Total equity and liabilities | 10/49 | €68,441 | €66,680 | -€1,761 | -2.6% |
| Equity | 10/15 | €54,644 | €62,698 | +€8,054 | +14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,044 | €44,098 | +€8,054 | +22.3% |
| Distributable reserves | 133 | €36,044 | €44,098 | +€8,054 | +22.3% |
| Amounts payable | 17/49 | €13,797 | €3,981 | -€9,815 | -71.1% |
| Amounts payable within one year | 42/48 | €13,797 | €3,981 | -€9,815 | -71.1% |
| Financial debts | 43 | €3,435 | €3,194 | -€241 | -7.0% |
| Credit institutions | 430/8 | €3,435 | €3,194 | -€241 | -7.0% |
| Trade debts | 44 | €1,939 | €276 | -€1,663 | -85.8% |
| Suppliers | 440/4 | €1,939 | €276 | -€1,663 | -85.8% |
| Taxes, remuneration and social security | 45 | €8,423 | €512 | -€7,911 | -93.9% |
| Taxes | 450/3 | €8,423 | €512 | -€7,911 | -93.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €24,160 | +€24,160 | |
| Remuneration, social security and pensions | 62 | €130 | €0 | -€130 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,787 | €1,225 | -€1,562 | -56.0% |
| Other operating charges | 640/8 | €1,753 | €2,187 | +€434 | +24.8% |
| Gross operating margin | 9900 | €9,987 | €15,551 | +€5,564 | +55.7% |
| Operating profit (loss) | 9901 | €5,316 | €12,138 | +€6,822 | +128.3% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €626 | €911 | +€285 | +45.6% |
| Recurring financial charges | 65 | €626 | €911 | +€285 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | €4,691 | €11,229 | +€6,539 | +139.4% |
| Income taxes | 67/77 | €1,713 | €3,175 | +€1,462 | +85.3% |
| Profit (loss) for the period | 9904 | €2,978 | €8,054 | +€5,077 | +170.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,978 | €8,054 | +€5,077 | +170.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.