COVEMATEX: 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.
COVEMATEX
Largest movements
- Tangible fixed assets +€74,855
up €74,855 (+28482.6%), from €263 to €75,118
of which Furniture and vehicles: +€64,958
- Cash -€62,334
down €62,334 (-16.6%), from €375,766 to €313,432
mainly Contributions, distributions and other (-€201,666) and Investment in fixed assets (net) (-€81,674)
- Current investments -€16,059
down €16,059 (-6.4%), from €250,000 to €233,941
- Receivables within one year -€13,735
down €13,735 (-24.4%), from €56,262 to €42,527
of which Trade receivables: -€26,830
- Other debts +€148,200
up €148,200 (+250.7%), from €59,121 to €207,321
- Reserves -€126,611
down €126,611 (-21.9%), from €578,439 to €451,828
- Tax, wage and social debts -€42,575
down €42,575 (-99.3%), from €42,884 to €309
- Gross operating margin -€87,881
down €87,881 (-43.8%), from €200,774 to €112,893
- Taxes -€34,780
down €34,780 (-55.6%), from €62,545 to €27,766
- Depreciation +€6,468
up €6,468 (+1842.3%), from €351 to €6,819
- Financial charges +€2,943
up €2,943 (+69.1%), from €4,259 to €7,201
- Financial income -€2,811
down €2,811 (-36.8%), from €7,631 to €4,819
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 | €690,772 | €671,780 | -€18,992 | -2.7% |
| Fixed assets | 21/28 | €263 | €75,118 | +€74,855 | +28482.6% |
| Tangible fixed assets | 22/27 | €263 | €75,118 | +€74,855 | +28482.6% |
| Plant, machinery and equipment | 23 | €263 | €10,160 | +€9,897 | +3765.7% |
| Furniture and vehicles | 24 | - | €64,958 | +€64,958 | |
| Current assets | 29/58 | €690,509 | €596,662 | -€93,847 | -13.6% |
| Stocks and contracts in progress | 3 | €2,703 | €1,431 | -€1,272 | -47.1% |
| Stocks | 30/36 | €2,703 | €1,431 | -€1,272 | -47.1% |
| Amounts receivable within one year | 40/41 | €56,262 | €42,527 | -€13,735 | -24.4% |
| Trade receivables | 40 | €52,157 | €25,327 | -€26,830 | -51.4% |
| Other amounts receivable | 41 | €4,105 | €17,200 | +€13,095 | +319.0% |
| Current investments | 50/53 | €250,000 | €233,941 | -€16,059 | -6.4% |
| Cash at bank and in hand | 54/58 | €375,766 | €313,432 | -€62,334 | -16.6% |
| Deferred charges and accrued income | 490/1 | €5,778 | €5,331 | -€447 | -7.7% |
| Total equity and liabilities | 10/49 | €690,772 | €671,780 | -€18,992 | -2.7% |
| Equity | 10/15 | €584,639 | €458,028 | -€126,611 | -21.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €578,439 | €451,828 | -€126,611 | -21.9% |
| Distributable reserves | 133 | €578,439 | €451,828 | -€126,611 | -21.9% |
| Amounts payable | 17/49 | €106,133 | €213,752 | +€107,619 | +101.4% |
| Amounts payable within one year | 42/48 | €103,257 | €213,040 | +€109,783 | +106.3% |
| Trade debts | 44 | €1,252 | €5,410 | +€4,157 | +332.0% |
| Suppliers | 440/4 | €1,252 | €5,410 | +€4,157 | +332.0% |
| Taxes, remuneration and social security | 45 | €42,884 | €309 | -€42,575 | -99.3% |
| Taxes | 450/3 | €42,884 | €309 | -€42,575 | -99.3% |
| Other amounts payable | 47/48 | €59,121 | €207,321 | +€148,200 | +250.7% |
| Accrued charges and deferred income | 492/3 | €2,876 | €712 | -€2,164 | -75.3% |
| Non-recurring operating income | 76A | €29,144 | - | -€29,144 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351 | €6,819 | +€6,468 | +1842.3% |
| Other operating charges | 640/8 | €2,729 | €871 | -€1,858 | -68.1% |
| Gross operating margin | 9900 | €200,774 | €112,893 | -€87,881 | -43.8% |
| Operating profit (loss) | 9901 | €197,694 | €105,203 | -€92,491 | -46.8% |
| Financial income | 75/76B | €7,631 | €4,819 | -€2,811 | -36.8% |
| Recurring financial income | 75 | €7,631 | €4,819 | -€2,811 | -36.8% |
| Financial charges | 65/66B | €4,259 | €7,201 | +€2,943 | +69.1% |
| Recurring financial charges | 65 | €4,259 | €7,201 | +€2,943 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | €201,066 | €102,820 | -€98,245 | -48.9% |
| Income taxes | 67/77 | €62,545 | €27,766 | -€34,780 | -55.6% |
| Profit (loss) for the period | 9904 | €138,520 | €75,055 | -€63,466 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €138,520 | €75,055 | -€63,466 | -45.8% |
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 12 October 2026 via checked.be.