COVERASS: 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.
COVERASS
Largest movements
- Tangible fixed assets +€55,705
up €55,705 (+25.9%), from €215,236 to €270,941
of which Furniture and vehicles: +€45,740
- Current investments +€43,543
up €43,543 (+13.2%), from €330,488 to €374,030
- Cash +€37,089
up €37,089 (+57.7%), from €64,335 to €101,424
mainly Net result for the year (+€124,180) and Trade debts (+€34,901)
- Reserves +€96,410
up €96,410 (+18.3%), from €527,428 to €623,838
- Trade debts +€34,901
up €34,901 (+262%), from €13,306 to €48,206
- Debts after one year -€22,467
down €22,467 (-47.6%), from €47,172 to €24,705
- Tax, wage and social debts +€21,700
up €21,700 (+26.9%), from €80,521 to €102,220
of which Taxes: +€25,354
- Gross operating margin -€168,208
down €168,208 (-35.5%), from €473,709 to €305,502
- Taxes -€48,010
down €48,010 (-42.7%), from €112,318 to €64,308
- Staff costs -€7,299
down €7,299 (-7.3%), from €100,577 to €93,278
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 | €701,307 | €833,162 | +€131,856 | +18.8% |
| Fixed assets | 21/28 | €231,385 | €283,090 | +€51,705 | +22.3% |
| Intangible fixed assets | 21 | €16,149 | €12,149 | -€4,000 | -24.8% |
| Tangible fixed assets | 22/27 | €215,236 | €270,941 | +€55,705 | +25.9% |
| Land and buildings | 22 | €199,254 | €209,785 | +€10,531 | +5.3% |
| Plant, machinery and equipment | 23 | €1,762 | €1,196 | -€565 | -32.1% |
| Furniture and vehicles | 24 | €14,220 | €59,960 | +€45,740 | +322% |
| Current assets | 29/58 | €469,922 | €550,072 | +€80,150 | +17.1% |
| Amounts receivable within one year | 40/41 | €8,700 | €760 | -€7,940 | -91.3% |
| Trade receivables | 40 | - | €695 | +€695 | |
| Other amounts receivable | 41 | €8,700 | €65 | -€8,635 | -99.3% |
| Current investments | 50/53 | €330,488 | €374,030 | +€43,543 | +13.2% |
| Cash at bank and in hand | 54/58 | €64,335 | €101,424 | +€37,089 | +57.7% |
| Deferred charges and accrued income | 490/1 | €66,400 | €73,858 | +€7,459 | +11.2% |
| Total equity and liabilities | 10/49 | €701,307 | €833,162 | +€131,856 | +18.8% |
| Equity | 10/15 | €533,634 | €630,044 | +€96,410 | +18.1% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €527,428 | €623,838 | +€96,410 | +18.3% |
| Distributable reserves | 133 | €527,428 | €623,838 | +€96,410 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,673 | €203,119 | +€35,446 | +21.1% |
| Amounts payable after more than one year | 17 | €47,172 | €24,705 | -€22,467 | -47.6% |
| Financial debts | 170/4 | €47,172 | €24,705 | -€22,467 | -47.6% |
| Amounts payable within one year | 42/48 | €120,475 | €177,175 | +€56,699 | +47.1% |
| Current portion of amounts payable after more than one year | 42 | €24,729 | €22,467 | -€2,262 | -9.1% |
| Financial debts | 43 | €683 | €841 | +€157 | +23.0% |
| Credit institutions | 430/8 | €683 | €841 | +€157 | +23.0% |
| Trade debts | 44 | €13,306 | €48,206 | +€34,901 | +262% |
| Suppliers | 440/4 | €13,306 | €48,206 | +€34,901 | +262% |
| Taxes, remuneration and social security | 45 | €80,521 | €102,220 | +€21,700 | +26.9% |
| Taxes | 450/3 | €63,734 | €89,088 | +€25,354 | +39.8% |
| Remuneration and social security | 454/9 | €16,787 | €13,132 | -€3,654 | -21.8% |
| Other amounts payable | 47/48 | €1,237 | €3,441 | +€2,204 | +178% |
| Accrued charges and deferred income | 492/3 | €26 | €1,239 | +€1,213 | +4,668% |
| Non-recurring operating income | 76A | €181,094 | €0 | -€181,094 | -100% |
| Remuneration, social security and pensions | 62 | €100,577 | €93,278 | -€7,299 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,813 | €26,020 | -€794 | -3.0% |
| Other operating charges | 640/8 | €4,853 | €2,440 | -€2,414 | -49.7% |
| Gross operating margin | 9900 | €473,709 | €305,502 | -€168,208 | -35.5% |
| Operating profit (loss) | 9901 | €341,466 | €183,765 | -€157,701 | -46.2% |
| Financial income | 75/76B | €3,596 | €7,312 | +€3,717 | +103% |
| Recurring financial income | 75 | €3,596 | €7,312 | +€3,717 | +103% |
| Financial charges | 65/66B | €2,614 | €2,589 | -€24 | -0.9% |
| Recurring financial charges | 65 | €2,614 | €2,589 | -€24 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €342,448 | €188,488 | -€153,960 | -45.0% |
| Income taxes | 67/77 | €112,318 | €64,308 | -€48,010 | -42.7% |
| Profit (loss) for the period | 9904 | €230,130 | €124,180 | -€105,950 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €230,130 | €124,180 | -€105,950 | -46.0% |
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 26 October 2026 via checked.be.