COVERING: what changed
What changed
COVERING
NACE 46.442, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€12,495
2024 · -€76,160+€88,656
Equity
€266,602
2024 · €254,107+€12,495
Cash
€59,581
2024 · €142,646-€83,065
Balance sheet total
€1.3m
2024 · €1.4m-€73,313
Largest movements
Assets
- Cash -€83,065
down €83,065 (-58.2%), from €142,646 to €59,581
mainly Other debts (-€349,924) and Investment in fixed assets (net) (-€166,546)
- Receivables within one year -€44,770
down €44,770 (-18.9%), from €236,823 to €192,053
of which Trade receivables: -€43,634
- Tangible fixed assets +€24,629
up €24,629 (+7.8%), from €317,787 to €342,416
of which Furniture and vehicles: +€35,559
- Stocks and contracts +€15,895
up €15,895 (+4.3%), from €367,764 to €383,659
Equity and liabilities
- Other debts -€349,924
down €349,924 (-100%), from €349,924 to €0
- Debts after one year +€272,741
up €272,741 (+80.5%), from €338,647 to €611,388
of which Other amounts payable: +€343,868
- Trade debts -€83,796
down €83,796 (-40.2%), from €208,349 to €124,552
- Provisions +€54,201
new in 2025: €54,201
Income statement
- Gross operating margin +€163,324
up €163,324 (+113%), from €144,748 to €308,071
- Financial income -€28,666
down €28,666 (-98.9%), from €28,971 to €305
of which Non-recurring financial income: -€28,598
- Staff costs +€23,780
up €23,780 (+25.8%), from €92,350 to €116,131
- Depreciation +€12,009
up €12,009 (+9.5%), from €126,597 to €138,606
- Other operating charges +€9,307
up €9,307 (+132%), from €7,033 to €16,340
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€76,160
Gross operating margin
+€163,324
Staff costs
-€23,780
Depreciation
-€12,009
Other operating charges
-€9,307
Other operating items
+€1,333
Financial income
-€28,666
Financial charges
-€2,238
Result 2025
€12,495
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€207,056
Investment
-€166,546
Financing
+€290,537
Cash 2024
€142,646
From operations (derived)
-€207,056
Net result for the year
+€12,495
Depreciation
+€138,606
Stocks and contracts
-€15,895
Receivables within one year
+€44,770
Deferred charges and accrued income
-€10,686
Provisions
+€54,201
Trade debts
-€83,796
Tax, wage and social debts
+€2,798
Advances received
+€376
Other debts
-€349,924
Investment (derived)
-€166,546
Investment in fixed assets (net)
-€166,546
Financing
+€290,537
Debts after one year
+€272,741
Current portion of long-term debt
+€7,797
Short-term financial debts
+€10,000
Cash 2025
€59,581
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,400,389 | €1,327,077 | -€73,313 | -5.2% |
| Fixed assets | 21/28 | €645,932 | €673,873 | +€27,941 | +4.3% |
| Intangible fixed assets | 21 | €322,945 | €326,257 | +€3,312 | +1.0% |
| Tangible fixed assets | 22/27 | €317,787 | €342,416 | +€24,629 | +7.8% |
| Land and buildings | 22 | €290,906 | €277,893 | -€13,013 | -4.5% |
| Plant, machinery and equipment | 23 | €7,464 | €9,547 | +€2,083 | +27.9% |
| Furniture and vehicles | 24 | €19,417 | €54,976 | +€35,559 | +183% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €5,200 | €5,200 | = | 0.0% |
| Current assets | 29/58 | €754,457 | €653,204 | -€101,254 | -13.4% |
| Stocks and contracts in progress | 3 | €367,764 | €383,659 | +€15,895 | +4.3% |
| Stocks | 30/36 | €367,764 | €383,659 | +€15,895 | +4.3% |
| Amounts receivable within one year | 40/41 | €236,823 | €192,053 | -€44,770 | -18.9% |
| Trade receivables | 40 | €234,042 | €190,407 | -€43,634 | -18.6% |
| Other amounts receivable | 41 | €2,781 | €1,645 | -€1,136 | -40.8% |
| Cash at bank and in hand | 54/58 | €142,646 | €59,581 | -€83,065 | -58.2% |
| Deferred charges and accrued income | 490/1 | €7,225 | €17,911 | +€10,686 | +148% |
| Total equity and liabilities | 10/49 | €1,400,389 | €1,327,077 | -€73,313 | -5.2% |
| Equity | 10/15 | €254,107 | €266,602 | +€12,495 | +4.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €192,107 | €204,602 | +€12,495 | +6.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €185,907 | €198,402 | +€12,495 | +6.7% |
| Provisions and deferred taxes | 16 | - | €54,201 | +€54,201 | |
| Provisions for liabilities and charges | 160/5 | - | €54,201 | +€54,201 | |
| Other liabilities and charges | 164/5 | - | €54,201 | +€54,201 | |
| Amounts payable | 17/49 | €1,146,283 | €1,006,273 | -€140,010 | -12.2% |
| Amounts payable after more than one year | 17 | €338,647 | €611,388 | +€272,741 | +80.5% |
| Financial debts | 170/4 | €338,647 | €267,520 | -€71,127 | -21.0% |
| Other amounts payable | 178/9 | - | €343,868 | +€343,868 | |
| Amounts payable within one year | 42/48 | €807,636 | €394,886 | -€412,750 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €105,737 | €113,534 | +€7,797 | +7.4% |
| Financial debts | 43 | €120,000 | €130,000 | +€10,000 | +8.3% |
| Credit institutions | 430/8 | €120,000 | €130,000 | +€10,000 | +8.3% |
| Trade debts | 44 | €208,349 | €124,552 | -€83,796 | -40.2% |
| Suppliers | 440/4 | €208,349 | €124,552 | -€83,796 | -40.2% |
| Advances received on contracts in progress | 46 | €382 | €759 | +€376 | +98.5% |
| Taxes, remuneration and social security | 45 | €23,243 | €26,041 | +€2,798 | +12.0% |
| Taxes | 450/3 | €11,076 | €13,668 | +€2,593 | +23.4% |
| Remuneration and social security | 454/9 | €12,167 | €12,372 | +€205 | +1.7% |
| Other amounts payable | 47/48 | €349,924 | €0 | -€349,924 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €92,350 | €116,131 | +€23,780 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,597 | €138,606 | +€12,009 | +9.5% |
| Other operating charges | 640/8 | €7,033 | €16,340 | +€9,307 | +132% |
| Non-recurring operating charges | 66A | €1,333 | €0 | -€1,333 | -100% |
| Gross operating margin | 9900 | €144,748 | €308,071 | +€163,324 | +113% |
| Operating profit (loss) | 9901 | -€82,565 | €36,995 | +€119,560 | |
| Financial income | 75/76B | €28,971 | €305 | -€28,666 | -98.9% |
| Recurring financial income | 75 | €373 | €305 | -€68 | -18.3% |
| Non-recurring financial income | 76B | €28,598 | €0 | -€28,598 | -100% |
| Financial charges | 65/66B | €22,566 | €24,805 | +€2,238 | +9.9% |
| Recurring financial charges | 65 | €22,566 | €24,805 | +€2,238 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | -€76,160 | €12,495 | +€88,656 | |
| Profit (loss) for the period | 9904 | -€76,160 | €12,495 | +€88,656 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,160 | €12,495 | +€88,656 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.