COVERE: 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.
COVERE
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+349%), from €416,942 to €1.9m
of which Other amounts receivable: +€1.5m
- Stocks and contracts -€792,859
no longer reported in 2025 (was €792,859)
- Deferred charges and accrued income +€27,568
up €27,568 (+148%), from €18,586 to €46,153
- Other debts -€1.6m
no longer reported in 2025 (was €1.6m)
- Profit (loss) carried forward +€1.0m
up €1.0m, from -€483,728 to €553,216
- Reserves +€842,000
new in 2025: €842,000
- Short-term financial debts +€330,000
new in 2025: €330,000
- Trade debts +€200,881
up €200,881 (+76,605%), from €262 to €201,143
- Gross operating margin +€2.3m
up €2.3m, from -€4,892 to €2.3m
- Taxes +€457,181
new in 2025: €457,181
- Staff costs -€57,481
down €57,481 (-66.0%), from €87,059 to €29,578
- Financial charges -€53,040
down €53,040 (-99.6%), from €53,245 to €206
- Financial income +€27,568
up €27,568 (+148%), from €18,586 to €46,153
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 | €1,237,436 | €1,944,959 | +€707,523 | +57.2% |
| Fixed assets | 21/28 | €180 | €180 | = | 0.0% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €1,237,256 | €1,944,779 | +€707,523 | +57.2% |
| Stocks and contracts in progress | 3 | €792,859 | - | -€792,859 | |
| Stocks | 30/36 | €792,859 | - | -€792,859 | |
| Amounts receivable within one year | 40/41 | €416,942 | €1,872,819 | +€1.5m | +349% |
| Trade receivables | 40 | €108 | - | -€108 | |
| Other amounts receivable | 41 | €416,833 | €1,872,819 | +€1.5m | +349% |
| Cash at bank and in hand | 54/58 | €8,870 | €25,807 | +€16,937 | +191% |
| Deferred charges and accrued income | 490/1 | €18,586 | €46,153 | +€27,568 | +148% |
| Total equity and liabilities | 10/49 | €1,237,436 | €1,944,959 | +€707,523 | +57.2% |
| Equity | 10/15 | -€465,128 | €1,413,816 | +€1.9m | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €842,000 | +€842,000 | |
| Tax-exempt reserves | 132 | - | €842,000 | +€842,000 | |
| Profit (loss) carried forward | 14 | -€483,728 | €553,216 | +€1.0m | |
| Amounts payable | 17/49 | €1,702,564 | €531,143 | -€1.2m | -68.8% |
| Amounts payable within one year | 42/48 | €1,649,599 | €531,143 | -€1.1m | -67.8% |
| Financial debts | 43 | - | €330,000 | +€330,000 | |
| Credit institutions | 430/8 | - | €330,000 | +€330,000 | |
| Trade debts | 44 | €262 | €201,143 | +€200,881 | +76,605% |
| Suppliers | 440/4 | €262 | €201,143 | +€200,881 | +76,605% |
| Taxes, remuneration and social security | 45 | €17,576 | - | -€17,576 | |
| Taxes | 450/3 | €3,819 | - | -€3,819 | |
| Remuneration and social security | 454/9 | €13,756 | - | -€13,756 | |
| Other amounts payable | 47/48 | €1,631,761 | - | -€1.6m | |
| Accrued charges and deferred income | 492/3 | €52,965 | - | -€52,965 | |
| Remuneration, social security and pensions | 62 | €87,059 | €29,578 | -€57,481 | -66.0% |
| Other operating charges | 640/8 | €523 | €9,065 | +€8,542 | +1,634% |
| Gross operating margin | 9900 | -€4,892 | €2,328,821 | +€2.3m | |
| Operating profit (loss) | 9901 | -€92,474 | €2,290,177 | +€2.4m | |
| Financial income | 75/76B | €18,586 | €46,153 | +€27,568 | +148% |
| Recurring financial income | 75 | €18,586 | €46,153 | +€27,568 | +148% |
| Financial charges | 65/66B | €53,245 | €206 | -€53,040 | -99.6% |
| Recurring financial charges | 65 | €53,245 | €206 | -€53,040 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€127,133 | €2,336,125 | +€2.5m | |
| Income taxes | 67/77 | - | €457,181 | +€457,181 | |
| Profit (loss) for the period | 9904 | -€127,133 | €1,878,944 | +€2.0m | |
| Transfer to tax-exempt reserves | 689 | - | €842,000 | +€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€127,133 | €1,036,944 | +€1.2m |
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 22 October 2026 via checked.be.