COVEBA: 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.
COVEBA
Largest movements
- Cash +€25,539
up €25,539 (+19.2%), from €133,200 to €158,739
mainly Net result for the year (+€58,100)
- Receivables within one year +€3,613
new in 2025: €3,613
- Reserves +€58,100
up €58,100 (+23.9%), from €242,891 to €300,991
- Debts after one year -€21,596
down €21,596 (-52.1%), from €41,464 to €19,868
- Tax, wage and social debts -€7,249
no longer reported in 2025 (was €7,249)
- Gross operating margin -€14,178
down €14,178 (-15.3%), from €92,589 to €78,410
- Financial income -€12,908
down €12,908 (-51.5%), from €25,076 to €12,168
- Taxes -€7,771
down €7,771 (-20.8%), from €37,392 to €29,621
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 | €328,200 | €357,352 | +€29,152 | +8.9% |
| Fixed assets | 21/28 | €195,000 | €195,000 | = | 0.0% |
| Financial fixed assets | 28 | €195,000 | €195,000 | = | 0.0% |
| Current assets | 29/58 | €133,200 | €162,352 | +€29,152 | +21.9% |
| Amounts receivable within one year | 40/41 | - | €3,613 | +€3,613 | |
| Other amounts receivable | 41 | - | €3,613 | +€3,613 | |
| Cash at bank and in hand | 54/58 | €133,200 | €158,739 | +€25,539 | +19.2% |
| Total equity and liabilities | 10/49 | €328,200 | €357,352 | +€29,152 | +8.9% |
| Equity | 10/15 | €255,291 | €313,391 | +€58,100 | +22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,891 | €300,991 | +€58,100 | +23.9% |
| Distributable reserves | 133 | €242,891 | €300,991 | +€58,100 | +23.9% |
| Amounts payable | 17/49 | €72,909 | €43,961 | -€28,948 | -39.7% |
| Amounts payable after more than one year | 17 | €41,464 | €19,868 | -€21,596 | -52.1% |
| Financial debts | 170/4 | €41,464 | €19,868 | -€21,596 | -52.1% |
| Amounts payable within one year | 42/48 | €31,445 | €24,093 | -€7,352 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €21,515 | €21,439 | -€76 | -0.4% |
| Trade debts | 44 | €1,113 | €1,086 | -€26 | -2.4% |
| Suppliers | 440/4 | €1,113 | €1,086 | -€26 | -2.4% |
| Taxes, remuneration and social security | 45 | €7,249 | - | -€7,249 | |
| Taxes | 450/3 | €7,249 | - | -€7,249 | |
| Other amounts payable | 47/48 | €1,568 | €1,568 | = | 0.0% |
| Non-recurring operating income | 76A | €3,903 | - | -€3,903 | |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €92,589 | €78,410 | -€14,178 | -15.3% |
| Operating profit (loss) | 9901 | €92,139 | €77,948 | -€14,191 | -15.4% |
| Financial income | 75/76B | €25,076 | €12,168 | -€12,908 | -51.5% |
| Recurring financial income | 75 | €25,076 | €12,168 | -€12,908 | -51.5% |
| Financial charges | 65/66B | €2,967 | €2,395 | -€572 | -19.3% |
| Recurring financial charges | 65 | €2,967 | €2,395 | -€572 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €114,248 | €87,722 | -€26,527 | -23.2% |
| Income taxes | 67/77 | €37,392 | €29,621 | -€7,771 | -20.8% |
| Profit (loss) for the period | 9904 | €76,856 | €58,100 | -€18,756 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,856 | €58,100 | -€18,756 | -24.4% |
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 3 October 2026 via checked.be.