Cover Project: 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 Project
Largest movements
- Receivables within one year -€9,011
down €9,011 (-13.5%), from €66,616 to €57,605
of which Trade receivables: -€18,375
- Tax, wage and social debts -€14,060
down €14,060 (-65.4%), from €21,498 to €7,438
of which Taxes: -€16,260
- Profit (loss) carried forward +€3,794
up €3,794 (+27.3%), from €13,915 to €17,708
- Gross operating margin +€4,247
up €4,247 (+74.2%), from €5,721 to €9,968
- Other operating charges +€2,754
up €2,754 (+535%), from €515 to €3,269
- Financial charges +€1,019
up €1,019 (+474%), from €215 to €1,234
- Taxes +€989
up €989 (+306%), from €323 to €1,313
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 | €71,918 | €61,836 | -€10,082 | -14.0% |
| Fixed assets | 21/28 | €970 | €612 | -€358 | -36.9% |
| Tangible fixed assets | 22/27 | €680 | €322 | -€358 | -52.7% |
| Furniture and vehicles | 24 | €680 | €322 | -€358 | -52.7% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €70,947 | €61,224 | -€9,724 | -13.7% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €66,616 | €57,605 | -€9,011 | -13.5% |
| Trade receivables | 40 | €58,456 | €40,081 | -€18,375 | -31.4% |
| Other amounts receivable | 41 | €8,160 | €17,524 | +€9,364 | +115% |
| Cash at bank and in hand | 54/58 | €1,746 | €1,119 | -€628 | -35.9% |
| Deferred charges and accrued income | 490/1 | €85 | - | -€85 | |
| Total equity and liabilities | 10/49 | €71,918 | €61,836 | -€10,082 | -14.0% |
| Equity | 10/15 | €37,375 | €41,168 | +€3,794 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,860 | €4,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,915 | €17,708 | +€3,794 | +27.3% |
| Amounts payable | 17/49 | €34,543 | €20,667 | -€13,876 | -40.2% |
| Amounts payable within one year | 42/48 | €34,543 | €20,667 | -€13,876 | -40.2% |
| Trade debts | 44 | €13,045 | €13,229 | +€184 | +1.4% |
| Suppliers | 440/4 | €13,045 | €13,229 | +€184 | +1.4% |
| Taxes, remuneration and social security | 45 | €21,498 | €7,438 | -€14,060 | -65.4% |
| Taxes | 450/3 | €21,498 | €5,238 | -€16,260 | -75.6% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €358 | €358 | = | 0.0% |
| Other operating charges | 640/8 | €515 | €3,269 | +€2,754 | +535% |
| Gross operating margin | 9900 | €5,721 | €9,968 | +€4,247 | +74.2% |
| Operating profit (loss) | 9901 | €4,848 | €6,340 | +€1,493 | +30.8% |
| Financial charges | 65/66B | €215 | €1,234 | +€1,019 | +474% |
| Recurring financial charges | 65 | €215 | €1,234 | +€1,019 | +474% |
| Profit (loss) for the period before taxes | 9903 | €4,633 | €5,106 | +€473 | +10.2% |
| Income taxes | 67/77 | €323 | €1,313 | +€989 | +306% |
| Profit (loss) for the period | 9904 | €4,309 | €3,794 | -€516 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,309 | €3,794 | -€516 | -12.0% |
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 16 October 2026 via checked.be.