COVERSPA: what changed
Two fiscal 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.
COVERSPA
Largest movements
- Receivables within one year -€23,765
down €23,765 (-9.7%), from €244,135 to €220,370
of which Trade receivables: -€19,600
- Cash -€18,973
down €18,973 (-37.1%), from €51,142 to €32,170
mainly Debts after one year (-€53,776) and Investment in fixed assets (net) (-€25,284)
- Tangible fixed assets +€10,855
up €10,855 (+26.9%), from €40,341 to €51,196
of which Furniture and vehicles: +€13,480
- Debts after one year -€53,776
down €53,776 (-38.7%), from €139,005 to €85,229
- Reserves +€50,629
up €50,629 (+18.5%), from €273,552 to €324,181
of which Distributable reserves: +€50,629
- Other debts -€16,598
down €16,598 (-9.4%), from €176,026 to €159,427
- Trade debts -€12,223
down €12,223 (-64.0%), from €19,113 to €6,890
- Gross operating margin +€28,791
up €28,791 (+49.1%), from €58,594 to €87,385
- Taxes +€13,088
up €13,088 (+146.7%), from €8,923 to €22,011
- Financial income +€5,975
up €5,975 (+144.1%), from €4,145 to €10,120
- Depreciation +€3,084
up €3,084 (+27.2%), from €11,344 to €14,428
- Other operating charges -€1,046
down €1,046 (-46.6%), from €2,244 to €1,197
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.
Cash bridge derived
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 | €736,411 | €703,785 | -€32,626 | -4.4% |
| Fixed assets | 21/28 | €440,341 | €451,196 | +€10,855 | +2.5% |
| Tangible fixed assets | 22/27 | €40,341 | €51,196 | +€10,855 | +26.9% |
| Plant, machinery and equipment | 23 | €20,445 | €17,820 | -€2,625 | -12.8% |
| Furniture and vehicles | 24 | €19,896 | €33,376 | +€13,480 | +67.8% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €296,070 | €252,589 | -€43,481 | -14.7% |
| Amounts receivable after more than one year | 29 | €50 | €50 | = | 0.0% |
| Other amounts receivable | 291 | €50 | €50 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €244,135 | €220,370 | -€23,765 | -9.7% |
| Trade receivables | 40 | €19,600 | - | -€19,600 | |
| Other amounts receivable | 41 | €224,534 | €220,370 | -€4,165 | -1.9% |
| Cash at bank and in hand | 54/58 | €51,142 | €32,170 | -€18,973 | -37.1% |
| Deferred charges and accrued income | 490/1 | €743 | - | -€743 | |
| Total equity and liabilities | 10/49 | €736,411 | €703,785 | -€32,626 | -4.4% |
| Equity | 10/15 | €335,552 | €386,181 | +€50,629 | +15.1% |
| 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 | €273,552 | €324,181 | +€50,629 | +18.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €267,352 | €317,981 | +€50,629 | +18.9% |
| Amounts payable | 17/49 | €400,859 | €317,604 | -€83,255 | -20.8% |
| Amounts payable after more than one year | 17 | €139,005 | €85,229 | -€53,776 | -38.7% |
| Financial debts | 170/4 | €139,005 | €85,229 | -€53,776 | -38.7% |
| Amounts payable within one year | 42/48 | €261,854 | €232,375 | -€29,479 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €58,517 | €63,864 | +€5,346 | +9.1% |
| Trade debts | 44 | €19,113 | €6,890 | -€12,223 | -64.0% |
| Suppliers | 440/4 | €19,113 | €6,890 | -€12,223 | -64.0% |
| Taxes, remuneration and social security | 45 | €8,198 | €2,195 | -€6,004 | -73.2% |
| Taxes | 450/3 | €4,271 | €2,195 | -€2,076 | -48.6% |
| Remuneration and social security | 454/9 | €3,928 | - | -€3,928 | |
| Other amounts payable | 47/48 | €176,026 | €159,427 | -€16,598 | -9.4% |
| Non-recurring operating income | 76A | €34,399 | - | -€34,399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,344 | €14,428 | +€3,084 | +27.2% |
| Other operating charges | 640/8 | €2,244 | €1,197 | -€1,046 | -46.6% |
| Gross operating margin | 9900 | €58,594 | €87,385 | +€28,791 | +49.1% |
| Operating profit (loss) | 9901 | €45,006 | €71,760 | +€26,753 | +59.4% |
| Financial income | 75/76B | €4,145 | €10,120 | +€5,975 | +144.1% |
| Recurring financial income | 75 | €4,145 | €10,120 | +€5,975 | +144.1% |
| Financial charges | 65/66B | €8,492 | €9,240 | +€747 | +8.8% |
| Recurring financial charges | 65 | €8,492 | €9,240 | +€747 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €40,659 | €72,640 | +€31,981 | +78.7% |
| Income taxes | 67/77 | €8,923 | €22,011 | +€13,088 | +146.7% |
| Profit (loss) for the period | 9904 | €31,736 | €50,629 | +€18,893 | +59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,736 | €50,629 | +€18,893 | +59.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.