COVERCO: 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.
COVERCO
Largest movements
- Tangible fixed assets -€14,337
down €14,337 (-47.0%), from €30,487 to €16,150
of which Furniture and vehicles: -€13,980
- Cash -€10,552
down €10,552 (-27.8%), from €37,992 to €27,440
mainly Current portion of long-term debt (-€10,426) and Net result for the year (-€9,315)
- Receivables within one year +€8,945
up €8,945 (+110%), from €8,119 to €17,064
of which Other amounts receivable: +€8,945
- Deferred charges and accrued income -€2,153
down €2,153 (-33.3%), from €6,465 to €4,313
- Current portion of long-term debt -€10,426
down €10,426 (-91.6%), from €11,384 to €958
- Reserves -€8,537
down €8,537 (-37.7%), from €22,657 to €14,120
of which Distributable reserves: -€8,537
- Short-term financial debts +€2,130
up €2,130 (+24,455%), from €9 to €2,139
- Debts after one year -€958
down €958 (-100%), from €958 to €0
- Gross operating margin -€16,791
down €16,791 (-69.4%), from €24,200 to €7,409
- Taxes -€2,997
down €2,997 (-83.7%), from €3,582 to €585
- Financial income -€1,299
down €1,299 (-65.4%), from €1,987 to €688
- Financial charges -€612
down €612 (-68.4%), from €896 to €283
- Depreciation -€484
down €484 (-3.3%), from €14,822 to €14,337
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,163 | €65,067 | -€18,097 | -21.8% |
| Fixed assets | 21/28 | €30,587 | €16,250 | -€14,337 | -46.9% |
| Tangible fixed assets | 22/27 | €30,487 | €16,150 | -€14,337 | -47.0% |
| Furniture and vehicles | 24 | €29,773 | €15,793 | -€13,980 | -47.0% |
| Other tangible fixed assets | 26 | €714 | €357 | -€357 | -50.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €52,577 | €48,817 | -€3,759 | -7.2% |
| Amounts receivable within one year | 40/41 | €8,119 | €17,064 | +€8,945 | +110% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €8,119 | €17,064 | +€8,945 | +110% |
| Cash at bank and in hand | 54/58 | €37,992 | €27,440 | -€10,552 | -27.8% |
| Deferred charges and accrued income | 490/1 | €6,465 | €4,313 | -€2,153 | -33.3% |
| Total equity and liabilities | 10/49 | €83,163 | €65,067 | -€18,097 | -21.8% |
| Equity | 10/15 | €26,564 | €17,249 | -€9,315 | -35.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €22,657 | €14,120 | -€8,537 | -37.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €22,657 | €14,120 | -€8,537 | -37.7% |
| Profit (loss) carried forward | 14 | -€16,093 | -€16,871 | -€778 | -4.8% |
| Provisions and deferred taxes | 16 | €36,337 | €36,337 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €36,337 | €36,337 | = | 0.0% |
| Pensions and similar obligations | 160 | €36,337 | €36,337 | = | 0.0% |
| Amounts payable | 17/49 | €20,263 | €11,482 | -€8,782 | -43.3% |
| Amounts payable after more than one year | 17 | €958 | €0 | -€958 | -100% |
| Financial debts | 170/4 | €958 | €0 | -€958 | -100% |
| Amounts payable within one year | 42/48 | €19,305 | €11,482 | -€7,824 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €11,384 | €958 | -€10,426 | -91.6% |
| Financial debts | 43 | €9 | €2,139 | +€2,130 | +24,455% |
| Credit institutions | 430/8 | €9 | €2,139 | +€2,130 | +24,455% |
| Trade debts | 44 | €806 | €709 | -€97 | -12.1% |
| Suppliers | 440/4 | €806 | €709 | -€97 | -12.1% |
| Advances received on contracts in progress | 46 | €3,573 | €3,558 | -€15 | -0.4% |
| Taxes, remuneration and social security | 45 | €3,423 | €4,008 | +€585 | +17.1% |
| Taxes | 450/3 | €3,423 | €4,008 | +€585 | +17.1% |
| Other amounts payable | 47/48 | €110 | €110 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,822 | €14,337 | -€484 | -3.3% |
| Other operating charges | 640/8 | €2,154 | €2,206 | +€53 | +2.4% |
| Gross operating margin | 9900 | €24,200 | €7,409 | -€16,791 | -69.4% |
| Operating profit (loss) | 9901 | €7,225 | -€9,135 | -€16,359 | |
| Financial income | 75/76B | €1,987 | €688 | -€1,299 | -65.4% |
| Recurring financial income | 75 | €1,987 | €688 | -€1,299 | -65.4% |
| Financial charges | 65/66B | €896 | €283 | -€612 | -68.4% |
| Recurring financial charges | 65 | €896 | €283 | -€612 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €8,316 | -€8,730 | -€17,047 | |
| Income taxes | 67/77 | €3,582 | €585 | -€2,997 | -83.7% |
| Profit (loss) for the period | 9904 | €4,734 | -€9,315 | -€14,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,734 | -€9,315 | -€14,049 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.