COVEVA: 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.
COVEVA
Largest movements
- Cash +€34,586
up €34,586 (+28.4%), from €121,641 to €156,227
mainly Net result for the year (+€73,830) and Depreciation (+€25,037)
- Tangible fixed assets -€25,037
down €25,037 (-28.1%), from €89,069 to €64,033
of which Plant, machinery and equipment: -€24,591
- Reserves +€37,080
up €37,080 (+15.1%), from €245,200 to €282,280
- Debts after one year -€18,760
down €18,760 (-37.6%), from €49,915 to €31,155
- Trade debts -€11,533
down €11,533 (-12.8%), from €90,152 to €78,619
- Tax, wage and social debts +€6,785
up €6,785 (+31.4%), from €21,634 to €28,419
of which Taxes: +€6,106
- Gross operating margin +€10,413
up €10,413 (+4.9%), from €212,400 to €222,813
- Taxes +€7,054
up €7,054 (+29.4%), from €24,018 to €31,071
- Depreciation +€3,654
up €3,654 (+17.1%), from €21,382 to €25,037
- Staff costs -€2,987
down €2,987 (-3.3%), from €90,532 to €87,545
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 | €491,876 | €498,324 | +€6,448 | +1.3% |
| Fixed assets | 21/28 | €89,069 | €64,033 | -€25,037 | -28.1% |
| Tangible fixed assets | 22/27 | €89,069 | €64,033 | -€25,037 | -28.1% |
| Plant, machinery and equipment | 23 | €87,124 | €62,533 | -€24,591 | -28.2% |
| Furniture and vehicles | 24 | €295 | - | -€295 | |
| Other tangible fixed assets | 26 | €1,650 | €1,500 | -€150 | -9.1% |
| Current assets | 29/58 | €402,806 | €434,291 | +€31,485 | +7.8% |
| Stocks and contracts in progress | 3 | €88,608 | €87,448 | -€1,160 | -1.3% |
| Stocks | 30/36 | €88,608 | €87,448 | -€1,160 | -1.3% |
| Amounts receivable within one year | 40/41 | €15,193 | €12,813 | -€2,380 | -15.7% |
| Trade receivables | 40 | €10,964 | €11,066 | +€102 | +0.9% |
| Other amounts receivable | 41 | €4,229 | €1,747 | -€2,482 | -58.7% |
| Current investments | 50/53 | €171,010 | €171,644 | +€634 | +0.4% |
| Cash at bank and in hand | 54/58 | €121,641 | €156,227 | +€34,586 | +28.4% |
| Deferred charges and accrued income | 490/1 | €6,354 | €6,159 | -€195 | -3.1% |
| Total equity and liabilities | 10/49 | €491,876 | €498,324 | +€6,448 | +1.3% |
| Equity | 10/15 | €260,300 | €297,380 | +€37,080 | +14.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €245,200 | €282,280 | +€37,080 | +15.1% |
| Distributable reserves | 133 | €245,200 | €282,280 | +€37,080 | +15.1% |
| Profit (loss) carried forward | 14 | €100 | €100 | +€0 | 0.0% |
| Amounts payable | 17/49 | €231,576 | €200,944 | -€30,632 | -13.2% |
| Amounts payable after more than one year | 17 | €49,915 | €31,155 | -€18,760 | -37.6% |
| Financial debts | 170/4 | €49,915 | €31,155 | -€18,760 | -37.6% |
| Amounts payable within one year | 42/48 | €180,662 | €169,790 | -€10,872 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €18,424 | €18,760 | +€336 | +1.8% |
| Financial debts | 43 | €8,452 | €6,729 | -€1,722 | -20.4% |
| Credit institutions | 430/8 | €8,452 | €6,729 | -€1,722 | -20.4% |
| Trade debts | 44 | €90,152 | €78,619 | -€11,533 | -12.8% |
| Suppliers | 440/4 | €90,152 | €78,619 | -€11,533 | -12.8% |
| Taxes, remuneration and social security | 45 | €21,634 | €28,419 | +€6,785 | +31.4% |
| Taxes | 450/3 | €3,062 | €9,168 | +€6,106 | +199% |
| Remuneration and social security | 454/9 | €18,572 | €19,252 | +€680 | +3.7% |
| Other amounts payable | 47/48 | €42,000 | €37,263 | -€4,737 | -11.3% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €90,532 | €87,545 | -€2,987 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,382 | €25,037 | +€3,654 | +17.1% |
| Other operating charges | 640/8 | €2,063 | €1,630 | -€434 | -21.0% |
| Non-recurring operating charges | 66A | €10 | - | -€10 | |
| Gross operating margin | 9900 | €212,400 | €222,813 | +€10,413 | +4.9% |
| Operating profit (loss) | 9901 | €98,412 | €108,601 | +€10,189 | +10.4% |
| Financial income | 75/76B | €956 | €1,029 | +€73 | +7.7% |
| Recurring financial income | 75 | €956 | €1,029 | +€73 | +7.7% |
| Financial charges | 65/66B | €5,738 | €4,729 | -€1,009 | -17.6% |
| Recurring financial charges | 65 | €5,738 | €4,729 | -€1,009 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €93,630 | €104,901 | +€11,271 | +12.0% |
| Income taxes | 67/77 | €24,018 | €31,071 | +€7,054 | +29.4% |
| Profit (loss) for the period | 9904 | €69,612 | €73,830 | +€4,218 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €69,612 | €73,830 | +€4,218 | +6.1% |
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 17 October 2026 via checked.be.