COVERTO: 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.
COVERTO
Largest movements
- Cash +€113,543
up €113,543 (+97.1%), from €116,963 to €230,506
mainly Net result for the year (+€153,037) and Other debts (+€86,313)
- Receivables within one year -€12,246
down €12,246 (-10.9%), from €112,107 to €99,861
of which Trade receivables: -€15,350
- Other debts +€86,313
up €86,313 (+60.7%), from €142,198 to €228,511
- Reserves -€22,999
down €22,999 (-27.1%), from €84,794 to €61,795
- Tax, wage and social debts +€11,798
up €11,798 (+24.9%), from €47,332 to €59,129
of which Remuneration and social security: +€7,205
- Trade debts +€11,770
up €11,770 (+79.1%), from €14,882 to €26,652
- Debts after one year +€8,242
up €8,242 (+26.4%), from €31,245 to €39,486
- Gross operating margin +€77,258
up €77,258 (+31.4%), from €246,166 to €323,424
- Staff costs +€27,226
up €27,226 (+59.8%), from €45,550 to €72,776
- Taxes +€12,668
up €12,668 (+37.5%), from €33,808 to €46,476
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 | €348,576 | €449,698 | +€101,122 | +29.0% |
| Fixed assets | 21/28 | €116,319 | €115,849 | -€470 | -0.4% |
| Intangible fixed assets | 21 | - | €2,740 | +€2,740 | |
| Tangible fixed assets | 22/27 | €114,339 | €111,129 | -€3,210 | -2.8% |
| Plant, machinery and equipment | 23 | €32,783 | €25,674 | -€7,109 | -21.7% |
| Furniture and vehicles | 24 | €81,556 | €85,455 | +€3,899 | +4.8% |
| Financial fixed assets | 28 | €1,980 | €1,980 | = | 0.0% |
| Current assets | 29/58 | €232,257 | €333,849 | +€101,592 | +43.7% |
| Amounts receivable within one year | 40/41 | €112,107 | €99,861 | -€12,246 | -10.9% |
| Trade receivables | 40 | €106,580 | €91,229 | -€15,350 | -14.4% |
| Other amounts receivable | 41 | €5,528 | €8,632 | +€3,105 | +56.2% |
| Cash at bank and in hand | 54/58 | €116,963 | €230,506 | +€113,543 | +97.1% |
| Deferred charges and accrued income | 490/1 | €3,187 | €3,483 | +€295 | +9.3% |
| Total equity and liabilities | 10/49 | €348,576 | €449,698 | +€101,122 | +29.0% |
| Equity | 10/15 | €103,344 | €80,345 | -€22,999 | -22.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €84,794 | €61,795 | -€22,999 | -27.1% |
| Distributable reserves | 133 | €84,794 | €61,795 | -€22,999 | -27.1% |
| Amounts payable | 17/49 | €245,232 | €369,353 | +€124,121 | +50.6% |
| Amounts payable after more than one year | 17 | €31,245 | €39,486 | +€8,242 | +26.4% |
| Financial debts | 170/4 | €31,245 | €39,486 | +€8,242 | +26.4% |
| Amounts payable within one year | 42/48 | €213,988 | €329,867 | +€115,879 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €9,576 | €15,042 | +€5,467 | +57.1% |
| Financial debts | 43 | - | €532 | +€532 | |
| Other loans | 439 | - | €532 | +€532 | |
| Trade debts | 44 | €14,882 | €26,652 | +€11,770 | +79.1% |
| Suppliers | 440/4 | €14,882 | €26,652 | +€11,770 | +79.1% |
| Taxes, remuneration and social security | 45 | €47,332 | €59,129 | +€11,798 | +24.9% |
| Taxes | 450/3 | €38,896 | €43,489 | +€4,593 | +11.8% |
| Remuneration and social security | 454/9 | €8,435 | €15,640 | +€7,205 | +85.4% |
| Other amounts payable | 47/48 | €142,198 | €228,511 | +€86,313 | +60.7% |
| Remuneration, social security and pensions | 62 | €45,550 | €72,776 | +€27,226 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,347 | €42,846 | +€1,498 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,216 | - | -€1,216 | |
| Other operating charges | 640/8 | €2,367 | €3,179 | +€812 | +34.3% |
| Gross operating margin | 9900 | €246,166 | €323,424 | +€77,258 | +31.4% |
| Operating profit (loss) | 9901 | €155,686 | €204,623 | +€48,937 | +31.4% |
| Financial income | 75/76B | €80 | €0 | -€80 | -100.0% |
| Recurring financial income | 75 | €80 | €0 | -€80 | -100.0% |
| Financial charges | 65/66B | €4,337 | €5,111 | +€773 | +17.8% |
| Recurring financial charges | 65 | €4,337 | €5,111 | +€773 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €151,429 | €199,513 | +€48,084 | +31.8% |
| Income taxes | 67/77 | €33,808 | €46,476 | +€12,668 | +37.5% |
| Profit (loss) for the period | 9904 | €117,621 | €153,037 | +€35,416 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €117,621 | €153,037 | +€35,416 | +30.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.