COVERS & DREAMS: 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.
COVERS & DREAMS
Largest movements
- Stocks and contracts +€20,443
up €20,443 (+349%), from €5,857 to €26,300
- Cash -€15,792
down €15,792 (-48.0%), from €32,878 to €17,087
mainly Stocks and contracts (-€20,443) and Tax, wage and social debts (-€5,389)
- Receivables within one year -€4,913
down €4,913 (-72.1%), from €6,813 to €1,900
- Tangible fixed assets -€2,947
no longer reported in 2025 (was €2,947)
- Tax, wage and social debts -€5,389
down €5,389 (-41.1%), from €13,096 to €7,707
of which Remuneration and social security: -€4,204
- Profit (loss) carried forward +€2,266
up €2,266 (+8.0%), from €28,170 to €30,436
- Gross operating margin -€14,856
down €14,856 (-33.1%), from €44,934 to €30,077
- Turnover -€11,397
down €11,397 (-7.7%), from €148,331 to €136,934
- Staff costs -€11,033
down €11,033 (-35.8%), from €30,805 to €19,772
- Financial charges +€4,506
up €4,506, from -€2,100 to €2,406
- Taxes -€2,345
down €2,345 (-80.5%), from €2,911 to €567
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 | €103,022 | €99,813 | -€3,209 | -3.1% |
| Fixed assets | 21/28 | €47,954 | €45,008 | -€2,947 | -6.1% |
| Tangible fixed assets | 22/27 | €2,947 | - | -€2,947 | |
| Furniture and vehicles | 24 | €2,947 | - | -€2,947 | |
| Financial fixed assets | 28 | €45,008 | €45,008 | = | 0.0% |
| Current assets | 29/58 | €55,067 | €54,805 | -€262 | -0.5% |
| Stocks and contracts in progress | 3 | €5,857 | €26,300 | +€20,443 | +349% |
| Stocks | 30/36 | €5,857 | €26,300 | +€20,443 | +349% |
| Amounts receivable within one year | 40/41 | €6,813 | €1,900 | -€4,913 | -72.1% |
| Other amounts receivable | 41 | €6,813 | €1,900 | -€4,913 | -72.1% |
| Current investments | 50/53 | €9,519 | €9,519 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,878 | €17,087 | -€15,792 | -48.0% |
| Total equity and liabilities | 10/49 | €103,022 | €99,813 | -€3,209 | -3.1% |
| Equity | 10/15 | €29,170 | €31,436 | +€2,266 | +7.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,170 | €30,436 | +€2,266 | +8.0% |
| Amounts payable | 17/49 | €73,851 | €68,376 | -€5,475 | -7.4% |
| Amounts payable after more than one year | 17 | €44,520 | €44,520 | = | 0.0% |
| Financial debts | 170/4 | €44,520 | €44,520 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,332 | €23,857 | -€5,475 | -18.7% |
| Trade debts | 44 | €16,236 | €16,150 | -€86 | -0.5% |
| Suppliers | 440/4 | €16,236 | €16,150 | -€86 | -0.5% |
| Taxes, remuneration and social security | 45 | €13,096 | €7,707 | -€5,389 | -41.1% |
| Taxes | 450/3 | €8,789 | €7,604 | -€1,184 | -13.5% |
| Remuneration and social security | 454/9 | €4,307 | €102 | -€4,204 | -97.6% |
| Turnover | 70 | €148,331 | €136,934 | -€11,397 | -7.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €105,707 | €106,856 | +€1,149 | +1.1% |
| Remuneration, social security and pensions | 62 | €30,805 | €19,772 | -€11,033 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,195 | €2,947 | -€1,248 | -29.8% |
| Other operating charges | 640/8 | €388 | €1,969 | +€1,581 | +407% |
| Non-recurring operating charges | 66A | - | €215 | +€215 | |
| Gross operating margin | 9900 | €44,934 | €30,077 | -€14,856 | -33.1% |
| Operating profit (loss) | 9901 | €9,545 | €5,174 | -€4,371 | -45.8% |
| Financial income | 75/76B | - | €64 | +€64 | |
| Recurring financial income | 75 | - | €64 | +€64 | |
| Financial charges | 65/66B | -€2,100 | €2,406 | +€4,506 | |
| Recurring financial charges | 65 | -€2,100 | €2,406 | +€4,506 | |
| Profit (loss) for the period before taxes | 9903 | €11,645 | €2,833 | -€8,813 | -75.7% |
| Income taxes | 67/77 | €2,911 | €567 | -€2,345 | -80.5% |
| Profit (loss) for the period | 9904 | €8,734 | €2,266 | -€6,468 | -74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,734 | €2,266 | -€6,468 | -74.1% |
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.