COVER-IT GROUP: 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.
COVER-IT GROUP
Largest movements
- Receivables within one year -€113,149
down €113,149 (-73.1%), from €154,856 to €41,707
of which Trade receivables: -€117,077
- Cash +€81,097
up €81,097 (+46.3%), from €175,091 to €256,188
mainly Receivables within one year (+€113,149) and Investment in fixed assets (net) (+€27,764)
- Tangible fixed assets -€41,530
down €41,530 (-17.3%), from €239,934 to €198,404
of which Furniture and vehicles: -€36,410
- Trade debts -€65,178
down €65,178 (-56.2%), from €115,962 to €50,784
- Debts after one year -€7,930
down €7,930 (-20.1%), from €39,362 to €31,432
- Gross operating margin -€37,389
down €37,389 (-61.8%), from €60,488 to €23,099
- Depreciation -€12,318
down €12,318 (-47.4%), from €26,013 to €13,695
- Taxes -€8,033
down €8,033 (-93.0%), from €8,639 to €606
- Financial income -€1,910
no longer reported in 2025 (was €1,910)
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 | €575,922 | €502,373 | -€73,549 | -12.8% |
| Fixed assets | 21/28 | €245,296 | €203,837 | -€41,459 | -16.9% |
| Tangible fixed assets | 22/27 | €239,934 | €198,404 | -€41,530 | -17.3% |
| Land and buildings | 22 | €172,100 | €166,980 | -€5,120 | -3.0% |
| Furniture and vehicles | 24 | €67,834 | €31,424 | -€36,410 | -53.7% |
| Financial fixed assets | 28 | €5,362 | €5,433 | +€71 | +1.3% |
| Current assets | 29/58 | €330,626 | €298,536 | -€32,090 | -9.7% |
| Amounts receivable within one year | 40/41 | €154,856 | €41,707 | -€113,149 | -73.1% |
| Trade receivables | 40 | €154,803 | €37,726 | -€117,077 | -75.6% |
| Other amounts receivable | 41 | €53 | €3,981 | +€3,928 | +7,411% |
| Cash at bank and in hand | 54/58 | €175,091 | €256,188 | +€81,097 | +46.3% |
| Deferred charges and accrued income | 490/1 | €679 | €641 | -€38 | -5.6% |
| Total equity and liabilities | 10/49 | €575,922 | €502,373 | -€73,549 | -12.8% |
| Equity | 10/15 | €398,986 | €400,541 | +€1,555 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €380,386 | €381,941 | +€1,555 | +0.4% |
| Distributable reserves | 133 | €380,386 | €381,941 | +€1,555 | +0.4% |
| Amounts payable | 17/49 | €176,936 | €101,832 | -€75,104 | -42.4% |
| Amounts payable after more than one year | 17 | €39,362 | €31,432 | -€7,930 | -20.1% |
| Other amounts payable | 178/9 | €39,362 | €31,432 | -€7,930 | -20.1% |
| Amounts payable within one year | 42/48 | €137,574 | €70,400 | -€67,174 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €10,688 | €9,513 | -€1,175 | -11.0% |
| Trade debts | 44 | €115,962 | €50,784 | -€65,178 | -56.2% |
| Suppliers | 440/4 | €115,962 | €50,784 | -€65,178 | -56.2% |
| Taxes, remuneration and social security | 45 | €4,704 | €3,883 | -€821 | -17.5% |
| Taxes | 450/3 | €4,704 | €3,883 | -€821 | -17.5% |
| Other amounts payable | 47/48 | €6,220 | €6,220 | = | 0.0% |
| Non-recurring operating income | 76A | €12,814 | - | -€12,814 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,013 | €13,695 | -€12,318 | -47.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €174 | - | -€174 | |
| Other operating charges | 640/8 | €3,404 | €3,189 | -€215 | -6.3% |
| Non-recurring operating charges | 66A | - | €2,917 | +€2,917 | |
| Gross operating margin | 9900 | €60,488 | €23,099 | -€37,389 | -61.8% |
| Operating profit (loss) | 9901 | €30,897 | €3,298 | -€27,599 | -89.3% |
| Financial income | 75/76B | €1,910 | - | -€1,910 | |
| Recurring financial income | 75 | €1,910 | - | -€1,910 | |
| Financial charges | 65/66B | €1,483 | €1,137 | -€346 | -23.3% |
| Recurring financial charges | 65 | €1,483 | €1,137 | -€346 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €31,324 | €2,161 | -€29,163 | -93.1% |
| Income taxes | 67/77 | €8,639 | €606 | -€8,033 | -93.0% |
| Profit (loss) for the period | 9904 | €22,685 | €1,555 | -€21,130 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,685 | €1,555 | -€21,130 | -93.1% |
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 15 October 2026 via checked.be.