COVERA PACKAGING: 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.
COVERA PACKAGING
Largest movements
- Receivables within one year -€444,889
down €444,889 (-18.3%), from €2.4m to €2.0m
of which Trade receivables: -€449,698
- Tangible fixed assets -€127,858
down €127,858 (-29.2%), from €438,251 to €310,393
of which Furniture and vehicles: -€120,559
- Stocks and contracts -€74,040
down €74,040 (-4.7%), from €1.6m to €1.5m
- Short-term financial debts -€325,000
down €325,000 (-76.5%), from €425,000 to €100,000
- Other debts -€110,365
down €110,365 (-9.7%), from €1.1m to €1.0m
- Current portion of long-term debt -€77,426
down €77,426 (-36.6%), from €211,258 to €133,832
- Debts after one year -€73,147
down €73,147 (-55.8%), from €131,110 to €57,964
- Trade debts -€46,308
down €46,308 (-7.7%), from €600,852 to €554,544
- Gross operating margin -€197,797
down €197,797 (-10.2%), from €1.9m to €1.7m
- Staff costs +€64,320
up €64,320 (+10.6%), from €608,601 to €672,922
- Taxes -€54,809
down €54,809 (-19.2%), from €285,646 to €230,837
- Other operating charges -€54,176
down €54,176 (-84.6%), from €64,048 to €9,872
- Write-downs +€34,683
up €34,683, from -€22,078 to €12,605
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 | €4,623,388 | €4,009,311 | -€614,076 | -13.3% |
| Fixed assets | 21/28 | €489,251 | €361,393 | -€127,858 | -26.1% |
| Tangible fixed assets | 22/27 | €438,251 | €310,393 | -€127,858 | -29.2% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €17,365 | €10,066 | -€7,299 | -42.0% |
| Furniture and vehicles | 24 | €420,886 | €300,327 | -€120,559 | -28.6% |
| Financial fixed assets | 28 | €51,000 | €51,000 | = | 0.0% |
| Current assets | 29/58 | €4,134,136 | €3,647,918 | -€486,218 | -11.8% |
| Stocks and contracts in progress | 3 | €1,560,841 | €1,486,802 | -€74,040 | -4.7% |
| Stocks | 30/36 | €1,560,841 | €1,486,802 | -€74,040 | -4.7% |
| Amounts receivable within one year | 40/41 | €2,428,334 | €1,983,445 | -€444,889 | -18.3% |
| Trade receivables | 40 | €2,353,980 | €1,904,282 | -€449,698 | -19.1% |
| Other amounts receivable | 41 | €74,354 | €79,163 | +€4,809 | +6.5% |
| Cash at bank and in hand | 54/58 | €126,337 | €153,612 | +€27,275 | +21.6% |
| Deferred charges and accrued income | 490/1 | €18,624 | €24,060 | +€5,436 | +29.2% |
| Total equity and liabilities | 10/49 | €4,623,388 | €4,009,311 | -€614,076 | -13.3% |
| Equity | 10/15 | €1,926,720 | €1,937,145 | +€10,425 | +0.5% |
| Contributions | 10/11 | €118,785 | €118,785 | = | 0.0% |
| Capital | 10 | €118,785 | €118,785 | = | 0.0% |
| Issued capital | 100 | €118,785 | €118,785 | = | 0.0% |
| Reserves | 13 | €1,807,936 | €1,818,361 | +€10,425 | +0.6% |
| Non-distributable reserves | 130/1 | €26,500 | €26,500 | = | 0.0% |
| Legal reserve | 130 | €26,500 | €26,500 | = | 0.0% |
| Distributable reserves | 133 | €1,781,436 | €1,791,861 | +€10,425 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,696,668 | €2,072,166 | -€624,501 | -23.2% |
| Amounts payable after more than one year | 17 | €131,110 | €57,964 | -€73,147 | -55.8% |
| Financial debts | 170/4 | €131,110 | €57,964 | -€73,147 | -55.8% |
| Amounts payable within one year | 42/48 | €2,565,557 | €2,014,203 | -€551,355 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €211,258 | €133,832 | -€77,426 | -36.6% |
| Financial debts | 43 | €425,000 | €100,000 | -€325,000 | -76.5% |
| Credit institutions | 430/8 | €425,000 | €100,000 | -€325,000 | -76.5% |
| Trade debts | 44 | €600,852 | €554,544 | -€46,308 | -7.7% |
| Suppliers | 440/4 | €600,852 | €554,544 | -€46,308 | -7.7% |
| Taxes, remuneration and social security | 45 | €187,947 | €195,691 | +€7,744 | +4.1% |
| Taxes | 450/3 | €133,597 | €128,019 | -€5,578 | -4.2% |
| Remuneration and social security | 454/9 | €54,351 | €67,672 | +€13,322 | +24.5% |
| Other amounts payable | 47/48 | €1,140,500 | €1,030,135 | -€110,365 | -9.7% |
| Remuneration, social security and pensions | 62 | €608,601 | €672,922 | +€64,320 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,253 | €148,443 | +€23,190 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€22,078 | €12,605 | +€34,683 | |
| Other operating charges | 640/8 | €64,048 | €9,872 | -€54,176 | -84.6% |
| Gross operating margin | 9900 | €1,939,893 | €1,742,096 | -€197,797 | -10.2% |
| Operating profit (loss) | 9901 | €1,164,068 | €898,255 | -€265,814 | -22.8% |
| Financial income | 75/76B | €76,915 | €80,843 | +€3,928 | +5.1% |
| Recurring financial income | 75 | €76,915 | €80,843 | +€3,928 | +5.1% |
| Financial charges | 65/66B | €107,258 | €77,835 | -€29,422 | -27.4% |
| Recurring financial charges | 65 | €107,258 | €77,835 | -€29,422 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €1,133,726 | €901,263 | -€232,463 | -20.5% |
| Income taxes | 67/77 | €285,646 | €230,837 | -€54,809 | -19.2% |
| Profit (loss) for the period | 9904 | €848,079 | €670,425 | -€177,654 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €848,079 | €670,425 | -€177,654 | -20.9% |
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 10 October 2026 via checked.be.