Cover & Couch: 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.
Cover & Couch
Largest movements
- Receivables within one year -€7,205
down €7,205 (-23.3%), from €30,927 to €23,722
of which Trade receivables: -€15,274
- Cash +€3,780
up €3,780 (+4.2%), from €89,411 to €93,191
mainly Other debts (+€29,960) and Net result for the year (+€9,169)
- Tangible fixed assets -€3,693
down €3,693 (-46.6%), from €7,930 to €4,237
of which Furniture and vehicles: -€2,234
- Reserves -€38,857
no longer reported in 2025 (was €38,857)
- Other debts +€29,960
up €29,960 (+225.6%), from €13,283 to €43,243
- Profit (loss) carried forward +€9,169
up €9,169 (+17.5%), from €52,464 to €61,633
- Tax, wage and social debts -€3,782
down €3,782 (-47.6%), from €7,942 to €4,160
of which Taxes: -€1,932
- Trade debts -€3,702
down €3,702 (-36.1%), from €10,263 to €6,561
- Gross operating margin -€17,213
down €17,213 (-51.0%), from €33,740 to €16,527
- Taxes -€6,663
down €6,663 (-86.9%), from €7,663 to €1,000
- Depreciation +€661
up €661 (+13.2%), from €4,990 to €5,650
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 | €132,809 | €125,597 | -€7,212 | -5.4% |
| Fixed assets | 21/28 | €9,530 | €5,837 | -€3,693 | -38.7% |
| Tangible fixed assets | 22/27 | €7,930 | €4,237 | -€3,693 | -46.6% |
| Plant, machinery and equipment | 23 | €1,458 | - | -€1,458 | |
| Furniture and vehicles | 24 | €6,471 | €4,237 | -€2,234 | -34.5% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €123,280 | €119,760 | -€3,519 | -2.9% |
| Stocks and contracts in progress | 3 | €2,348 | €2,848 | +€500 | +21.3% |
| Stocks | 30/36 | €2,348 | €2,848 | +€500 | +21.3% |
| Amounts receivable within one year | 40/41 | €30,927 | €23,722 | -€7,205 | -23.3% |
| Trade receivables | 40 | €27,751 | €12,477 | -€15,274 | -55.0% |
| Other amounts receivable | 41 | €3,176 | €11,245 | +€8,069 | +254.1% |
| Cash at bank and in hand | 54/58 | €89,411 | €93,191 | +€3,780 | +4.2% |
| Deferred charges and accrued income | 490/1 | €594 | - | -€594 | |
| Total equity and liabilities | 10/49 | €132,809 | €125,597 | -€7,212 | -5.4% |
| Equity | 10/15 | €101,321 | €71,633 | -€29,688 | -29.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €38,857 | - | -€38,857 | |
| Distributable reserves | 133 | €38,857 | - | -€38,857 | |
| Profit (loss) carried forward | 14 | €52,464 | €61,633 | +€9,169 | +17.5% |
| Amounts payable | 17/49 | €31,488 | €53,964 | +€22,476 | +71.4% |
| Amounts payable within one year | 42/48 | €31,488 | €53,964 | +€22,476 | +71.4% |
| Trade debts | 44 | €10,263 | €6,561 | -€3,702 | -36.1% |
| Suppliers | 440/4 | €10,263 | €6,561 | -€3,702 | -36.1% |
| Taxes, remuneration and social security | 45 | €7,942 | €4,160 | -€3,782 | -47.6% |
| Taxes | 450/3 | €6,092 | €4,160 | -€1,932 | -31.7% |
| Remuneration and social security | 454/9 | €1,850 | - | -€1,850 | |
| Other amounts payable | 47/48 | €13,283 | €43,243 | +€29,960 | +225.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,990 | €5,650 | +€661 | +13.2% |
| Other operating charges | 640/8 | €623 | €640 | +€16 | +2.6% |
| Gross operating margin | 9900 | €33,740 | €16,527 | -€17,213 | -51.0% |
| Operating profit (loss) | 9901 | €28,127 | €10,237 | -€17,890 | -63.6% |
| Financial income | 75/76B | €1 | €1 | +€0 | +8.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +8.0% |
| Financial charges | 65/66B | €69 | €69 | -€0 | -0.1% |
| Recurring financial charges | 65 | €69 | €69 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €28,059 | €10,169 | -€17,890 | -63.8% |
| Income taxes | 67/77 | €7,663 | €1,000 | -€6,663 | -86.9% |
| Profit (loss) for the period | 9904 | €20,397 | €9,169 | -€11,228 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,397 | €9,169 | -€11,228 | -55.0% |
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 7 October 2026 via checked.be.