COVEDIM: 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.
COVEDIM
Largest movements
- Tangible fixed assets -€128,250
no longer reported in 2025 (was €128,250)
- Stocks and contracts +€112,219
new in 2025: €112,219
- Receivables within one year +€6,439
up €6,439 (+9.3%), from €69,060 to €75,499
- Other debts -€16,065
down €16,065 (-14.7%), from €109,561 to €93,496
- Profit (loss) carried forward +€5,062
up €5,062, from -€4,506 to €556
- Gross operating margin +€55,899
up €55,899, from -€2,077 to €53,822
- Depreciation -€6,750
no longer reported in 2025 (was €6,750)
- Other operating charges -€2,925
no longer reported in 2025 (was €2,925)
- Taxes +€948
up €948 (+39158.3%), from €2 to €950
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 | €200,755 | €191,063 | -€9,692 | -4.8% |
| Fixed assets | 21/28 | €128,250 | - | -€128,250 | |
| Tangible fixed assets | 22/27 | €128,250 | - | -€128,250 | |
| Land and buildings | 22 | €128,250 | - | -€128,250 | |
| Current assets | 29/58 | €72,505 | €191,063 | +€118,558 | +163.5% |
| Stocks and contracts in progress | 3 | - | €112,219 | +€112,219 | |
| Stocks | 30/36 | - | €112,219 | +€112,219 | |
| Amounts receivable within one year | 40/41 | €69,060 | €75,499 | +€6,439 | +9.3% |
| Trade receivables | 40 | €69,060 | €75,499 | +€6,439 | +9.3% |
| Cash at bank and in hand | 54/58 | €3,445 | €3,344 | -€101 | -2.9% |
| Total equity and liabilities | 10/49 | €200,755 | €191,063 | -€9,692 | -4.8% |
| Equity | 10/15 | €91,194 | €96,256 | +€5,062 | +5.6% |
| Contributions | 10/11 | €87,000 | €87,000 | = | 0.0% |
| Capital | 10 | €87,000 | €87,000 | = | 0.0% |
| Issued capital | 100 | €87,000 | €87,000 | = | 0.0% |
| Reserves | 13 | €8,700 | €8,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,700 | €8,700 | = | 0.0% |
| Legal reserve | 130 | €8,700 | €8,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,506 | €556 | +€5,062 | |
| Amounts payable | 17/49 | €109,561 | €94,806 | -€14,755 | -13.5% |
| Amounts payable within one year | 42/48 | €109,561 | €94,806 | -€14,755 | -13.5% |
| Trade debts | 44 | - | €160 | +€160 | |
| Suppliers | 440/4 | - | €160 | +€160 | |
| Taxes, remuneration and social security | 45 | - | €1,150 | +€1,150 | |
| Taxes | 450/3 | - | €1,150 | +€1,150 | |
| Other amounts payable | 47/48 | €109,561 | €93,496 | -€16,065 | -14.7% |
| Non-recurring operating income | 76A | €632 | - | -€632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,750 | - | -€6,750 | |
| Other operating charges | 640/8 | €2,925 | - | -€2,925 | |
| Gross operating margin | 9900 | -€2,077 | €53,822 | +€55,899 | |
| Operating profit (loss) | 9901 | -€11,752 | €53,822 | +€65,574 | |
| Financial income | 75/76B | €8 | €0 | -€8 | -98.0% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -98.0% |
| Financial charges | 65/66B | €65 | €310 | +€245 | +376.9% |
| Recurring financial charges | 65 | €65 | €60 | -€5 | -7.7% |
| Non-recurring financial charges | 66B | - | €250 | +€250 | |
| Profit (loss) for the period before taxes | 9903 | -€11,809 | €53,512 | +€65,321 | |
| Income taxes | 67/77 | €2 | €950 | +€948 | +39158.3% |
| Profit (loss) for the period | 9904 | -€11,811 | €52,562 | +€64,374 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,811 | €52,562 | +€64,374 |
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 9 October 2026 via checked.be.