COVIMAD: 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.
COVIMAD
Largest movements
- Cash -€46,569
down €46,569 (-46.8%), from €99,462 to €52,893
mainly Other debts (-€32,828) and Investment in fixed assets (net) (-€15,519)
- Receivables within one year -€11,358
down €11,358 (-100.0%), from €11,358 to €0
- Other debts -€32,828
down €32,828 (-21.6%), from €151,665 to €118,837
- Debts after one year -€10,055
down €10,055 (-23.0%), from €43,751 to €33,696
- Profit (loss) carried forward -€10,026
down €10,026 (-250.0%), from -€4,010 to -€14,036
- Trade debts -€3,924
down €3,924 (-82.5%), from €4,758 to €833
- Gross operating margin -€12,623
down €12,623 (-65.6%), from €19,242 to €6,619
- Other operating charges -€3,994
down €3,994 (-98.4%), from €4,060 to €66
- Financial charges -€508
down €508 (-15.9%), from €3,200 to €2,692
- Depreciation +€503
up €503 (+3.7%), from €13,619 to €14,122
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 | €339,611 | €283,080 | -€56,531 | -16.6% |
| Fixed assets | 21/28 | €228,790 | €230,187 | +€1,397 | +0.6% |
| Tangible fixed assets | 22/27 | €228,790 | €230,187 | +€1,397 | +0.6% |
| Land and buildings | 22 | €153,257 | €143,414 | -€9,842 | -6.4% |
| Plant, machinery and equipment | 23 | €75,533 | €86,772 | +€11,239 | +14.9% |
| Current assets | 29/58 | €110,820 | €52,893 | -€57,927 | -52.3% |
| Amounts receivable within one year | 40/41 | €11,358 | €0 | -€11,358 | -100.0% |
| Trade receivables | 40 | €11,358 | €0 | -€11,358 | -100.0% |
| Cash at bank and in hand | 54/58 | €99,462 | €52,893 | -€46,569 | -46.8% |
| Total equity and liabilities | 10/49 | €339,611 | €283,080 | -€56,531 | -16.6% |
| Equity | 10/15 | €99,537 | €89,335 | -€10,202 | -10.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €91,147 | €90,971 | -€176 | -0.2% |
| Tax-exempt reserves | 132 | €91,147 | €90,971 | -€176 | -0.2% |
| Profit (loss) carried forward | 14 | -€4,010 | -€14,036 | -€10,026 | -250.0% |
| Provisions and deferred taxes | 16 | €30,382 | €30,324 | -€59 | -0.2% |
| Deferred taxes | 168 | €30,382 | €30,324 | -€59 | -0.2% |
| Amounts payable | 17/49 | €209,691 | €163,421 | -€46,270 | -22.1% |
| Amounts payable after more than one year | 17 | €43,751 | €33,696 | -€10,055 | -23.0% |
| Financial debts | 170/4 | €43,751 | €33,696 | -€10,055 | -23.0% |
| Amounts payable within one year | 42/48 | €165,940 | €129,725 | -€36,215 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €9,518 | €10,055 | +€537 | +5.6% |
| Trade debts | 44 | €4,758 | €833 | -€3,924 | -82.5% |
| Suppliers | 440/4 | €4,758 | €833 | -€3,924 | -82.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €151,665 | €118,837 | -€32,828 | -21.6% |
| Non-recurring operating income | 76A | €1,074 | €0 | -€1,074 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,619 | €14,122 | +€503 | +3.7% |
| Other operating charges | 640/8 | €4,060 | €66 | -€3,994 | -98.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €19,242 | €6,619 | -€12,623 | -65.6% |
| Operating profit (loss) | 9901 | €1,563 | -€7,569 | -€9,132 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,200 | €2,692 | -€508 | -15.9% |
| Recurring financial charges | 65 | €3,200 | €2,692 | -€508 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,637 | -€10,261 | -€8,624 | -526.7% |
| Transfer from deferred taxes | 780 | - | €59 | +€59 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €17 | €0 | -€17 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,655 | -€10,202 | -€8,548 | -516.6% |
| Transfer from tax-exempt reserves | 789 | - | €176 | +€176 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,655 | -€10,026 | -€8,371 | -506.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.