COVEMAECKER & CO: 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.
COVEMAECKER & CO
Largest movements
- Stocks and contracts -€130,126
down €130,126 (-36.5%), from €356,034 to €225,908
- Receivables within one year +€31,395
up €31,395 (+76.8%), from €40,888 to €72,283
of which Trade receivables: +€19,021
- Cash +€13,886
up €13,886 (+4.6%), from €300,064 to €313,949
mainly Stocks and contracts (+€130,126) and Net result for the year (+€51,664)
- Other debts -€98,366
down €98,366 (-94.9%), from €103,694 to €5,329
- Reserves +€51,664
up €51,664 (+8.9%), from €577,502 to €629,166
of which Tax-exempt reserves: +€41,162
- Tax, wage and social debts -€18,437
down €18,437 (-55.9%), from €32,965 to €14,528
of which Taxes: -€18,778
- Debts after one year -€13,586
down €13,586 (-49.7%), from €27,347 to €13,761
- Gross operating margin -€40,828
down €40,828 (-30.1%), from €135,525 to €94,697
- Taxes -€23,576
down €23,576 (-58.0%), from €40,625 to €17,049
- Financial charges -€4,876
down €4,876 (-80.3%), from €6,072 to €1,196
- Staff costs +€3,787
up €3,787 (+55.1%), from €6,870 to €10,657
- Depreciation +€3,054
up €3,054 (+13.4%), from €22,826 to €25,880
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 | €846,619 | €766,166 | -€80,453 | -9.5% |
| Fixed assets | 21/28 | €145,038 | €145,530 | +€492 | +0.3% |
| Tangible fixed assets | 22/27 | €141,257 | €141,749 | +€492 | +0.3% |
| Land and buildings | 22 | €74,487 | €82,841 | +€8,354 | +11.2% |
| Plant, machinery and equipment | 23 | €50,064 | €50,601 | +€537 | +1.1% |
| Furniture and vehicles | 24 | €14,356 | €7,088 | -€7,267 | -50.6% |
| Other tangible fixed assets | 26 | €2,350 | €1,218 | -€1,132 | -48.2% |
| Financial fixed assets | 28 | €3,782 | €3,782 | = | 0.0% |
| Current assets | 29/58 | €701,580 | €620,635 | -€80,945 | -11.5% |
| Stocks and contracts in progress | 3 | €356,034 | €225,908 | -€130,126 | -36.5% |
| Stocks | 30/36 | €356,034 | €225,908 | -€130,126 | -36.5% |
| Amounts receivable within one year | 40/41 | €40,888 | €72,283 | +€31,395 | +76.8% |
| Trade receivables | 40 | €40,888 | €59,909 | +€19,021 | +46.5% |
| Other amounts receivable | 41 | €0 | €12,374 | +€12,374 | |
| Cash at bank and in hand | 54/58 | €300,064 | €313,949 | +€13,886 | +4.6% |
| Deferred charges and accrued income | 490/1 | €4,595 | €8,495 | +€3,901 | +84.9% |
| Total equity and liabilities | 10/49 | €846,619 | €766,166 | -€80,453 | -9.5% |
| Equity | 10/15 | €602,302 | €653,966 | +€51,664 | +8.6% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €577,502 | €629,166 | +€51,664 | +8.9% |
| Tax-exempt reserves | 132 | €50,133 | €91,295 | +€41,162 | +82.1% |
| Distributable reserves | 133 | €527,369 | €537,871 | +€10,502 | +2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €2,674 | €2,362 | -€312 | -11.7% |
| Deferred taxes | 168 | €2,674 | €2,362 | -€312 | -11.7% |
| Amounts payable | 17/49 | €241,642 | €109,837 | -€131,805 | -54.5% |
| Amounts payable after more than one year | 17 | €27,347 | €13,761 | -€13,586 | -49.7% |
| Financial debts | 170/4 | €27,347 | €13,761 | -€13,586 | -49.7% |
| Amounts payable within one year | 42/48 | €208,604 | €94,591 | -€114,013 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €17,503 | €13,586 | -€3,917 | -22.4% |
| Trade debts | 44 | €54,442 | €61,148 | +€6,707 | +12.3% |
| Suppliers | 440/4 | €54,442 | €61,148 | +€6,707 | +12.3% |
| Taxes, remuneration and social security | 45 | €32,965 | €14,528 | -€18,437 | -55.9% |
| Taxes | 450/3 | €28,167 | €9,389 | -€18,778 | -66.7% |
| Remuneration and social security | 454/9 | €4,797 | €5,139 | +€341 | +7.1% |
| Other amounts payable | 47/48 | €103,694 | €5,329 | -€98,366 | -94.9% |
| Accrued charges and deferred income | 492/3 | €5,692 | €1,485 | -€4,207 | -73.9% |
| Non-recurring operating income | 76A | €915 | €0 | -€915 | -100% |
| Remuneration, social security and pensions | 62 | €6,870 | €10,657 | +€3,787 | +55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,826 | €25,880 | +€3,054 | +13.4% |
| Other operating charges | 640/8 | €1,578 | €936 | -€642 | -40.7% |
| Gross operating margin | 9900 | €135,525 | €94,697 | -€40,828 | -30.1% |
| Operating profit (loss) | 9901 | €104,251 | €57,224 | -€47,028 | -45.1% |
| Financial income | 75/76B | €14,167 | €12,373 | -€1,794 | -12.7% |
| Recurring financial income | 75 | €14,167 | €12,373 | -€1,794 | -12.7% |
| Financial charges | 65/66B | €6,072 | €1,196 | -€4,876 | -80.3% |
| Recurring financial charges | 65 | €6,072 | €1,196 | -€4,876 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €112,346 | €68,401 | -€43,945 | -39.1% |
| Transfer from deferred taxes | 780 | €312 | €312 | = | 0.0% |
| Income taxes | 67/77 | €40,625 | €17,049 | -€23,576 | -58.0% |
| Profit (loss) for the period | 9904 | €72,034 | €51,664 | -€20,369 | -28.3% |
| Transfer from tax-exempt reserves | 789 | €108,588 | €938 | -€107,650 | -99.1% |
| Transfer to tax-exempt reserves | 689 | €0 | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €180,621 | €10,502 | -€170,119 | -94.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.