COVER-RISK-MANAGEMENT: what changed
COVER-RISK-MANAGEMENT
Largest movements
- Cash -€209,221
down €209,221 (-84.5%), from €247,579 to €38,359
mainly Net result for the year (-€381,338) and Debts after one year (-€140,004)
- Receivables within one year -€10,176
down €10,176 (-10.7%), from €95,324 to €85,148
of which Other amounts receivable: -€37,756
- Tangible fixed assets -€8,218
down €8,218 (-34.2%), from €24,028 to €15,809
of which Plant, machinery and equipment: -€7,722
- Intangible fixed assets -€6,674
down €6,674 (-28.4%), from €23,482 to €16,808
- Profit (loss) carried forward -€381,338
down €381,338 (-25.5%), from -€1.5m to -€1.9m
- Debts after one year -€140,004
down €140,004 (-22.6%), from €618,331 to €478,327
- Current portion of long-term debt +€140,004
up €140,004 (+171%), from €81,669 to €221,673
- Other debts +€127,683
up €127,683 (+12.6%), from €1.0m to €1.1m
- Trade debts +€13,925
up €13,925 (+26.7%), from €52,131 to €66,056
- Gross operating margin -€68,999
down €68,999 (-103%), from -€67,022 to -€136,022
- Write-downs -€44,886
down €44,886 (-51,593%), from -€87 to -€44,973
- Staff costs +€6,675
up €6,675 (+2.6%), from €256,994 to €263,668
- Depreciation -€2,783
down €2,783 (-15.7%), from €17,674 to €14,892
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €401,252 | €166,751 | -€234,502 | -58.4% |
| Fixed assets | 21/28 | €47,509 | €32,617 | -€14,892 | -31.3% |
| Intangible fixed assets | 21 | €23,482 | €16,808 | -€6,674 | -28.4% |
| Tangible fixed assets | 22/27 | €24,028 | €15,809 | -€8,218 | -34.2% |
| Plant, machinery and equipment | 23 | €22,418 | €14,696 | -€7,722 | -34.4% |
| Furniture and vehicles | 24 | €1,609 | €1,113 | -€496 | -30.8% |
| Current assets | 29/58 | €353,743 | €134,134 | -€219,610 | -62.1% |
| Amounts receivable after more than one year | 29 | €10,360 | €10,360 | = | 0.0% |
| Other amounts receivable | 291 | €10,360 | €10,360 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €95,324 | €85,148 | -€10,176 | -10.7% |
| Trade receivables | 40 | €1,615 | €29,195 | +€27,580 | +1,708% |
| Other amounts receivable | 41 | €93,709 | €55,953 | -€37,756 | -40.3% |
| Cash at bank and in hand | 54/58 | €247,579 | €38,359 | -€209,221 | -84.5% |
| Deferred charges and accrued income | 490/1 | €480 | €267 | -€213 | -44.3% |
| Total equity and liabilities | 10/49 | €401,252 | €166,751 | -€234,502 | -58.4% |
| Equity | 10/15 | -€1,410,937 | -€1,792,275 | -€381,338 | -27.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,493,437 | -€1,874,775 | -€381,338 | -25.5% |
| Amounts payable | 17/49 | €1,812,190 | €1,959,026 | +€146,836 | +8.1% |
| Amounts payable after more than one year | 17 | €618,331 | €478,327 | -€140,004 | -22.6% |
| Other amounts payable | 178/9 | €618,331 | €478,327 | -€140,004 | -22.6% |
| Amounts payable within one year | 42/48 | €1,187,251 | €1,460,872 | +€273,621 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €81,669 | €221,673 | +€140,004 | +171% |
| Trade debts | 44 | €52,131 | €66,056 | +€13,925 | +26.7% |
| Suppliers | 440/4 | €52,131 | €66,056 | +€13,925 | +26.7% |
| Taxes, remuneration and social security | 45 | €40,485 | €32,494 | -€7,991 | -19.7% |
| Taxes | 450/3 | €864 | €13,296 | +€12,432 | +1,439% |
| Remuneration and social security | 454/9 | €39,621 | €19,199 | -€20,422 | -51.5% |
| Other amounts payable | 47/48 | €1,012,966 | €1,140,649 | +€127,683 | +12.6% |
| Accrued charges and deferred income | 492/3 | €6,608 | €19,827 | +€13,219 | +200% |
| Non-recurring operating income | 76A | €1,921 | €0 | -€1,921 | -100% |
| Remuneration, social security and pensions | 62 | €256,994 | €263,668 | +€6,675 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,674 | €14,892 | -€2,783 | -15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€87 | -€44,973 | -€44,886 | -51,593% |
| Non-recurring operating charges | 66A | €29 | €0 | -€29 | -100% |
| Gross operating margin | 9900 | -€67,022 | -€136,022 | -€68,999 | -103% |
| Operating profit (loss) | 9901 | -€341,633 | -€369,609 | -€27,976 | -8.2% |
| Financial income | 75/76B | €3 | €3 | +€1 | +16.8% |
| Recurring financial income | 75 | €3 | €3 | +€1 | +16.8% |
| Financial charges | 65/66B | €11,967 | €11,733 | -€235 | -2.0% |
| Recurring financial charges | 65 | €11,967 | €11,733 | -€235 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€353,597 | -€381,338 | -€27,741 | -7.8% |
| Profit (loss) for the period | 9904 | -€353,597 | -€381,338 | -€27,741 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€353,597 | -€381,338 | -€27,741 | -7.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.