COVISIO: 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.
COVISIO
Largest movements
- Receivables within one year +€13,798
up €13,798 (+43.3%), from €31,834 to €45,633
of which Trade receivables: +€15,188
- Tangible fixed assets +€7,246
up €7,246 (+67.3%), from €10,766 to €18,012
of which Furniture and vehicles: +€6,454
- Cash +€7,219
up €7,219 (+42.5%), from €16,992 to €24,211
mainly Net result for the year (+€54,919) and Trade debts (+€13,694)
- Trade debts +€13,694
up €13,694 (+152%), from €8,998 to €22,692
- Reserves +€9,020
up €9,020 (+5.8%), from €154,654 to €163,674
- Short-term financial debts +€3,779
new in 2025: €3,779
- Other debts +€3,771
new in 2025: €3,771
- Gross operating margin +€25,249
up €25,249 (+46.7%), from €54,053 to €79,302
- Depreciation +€6,977
up €6,977 (+335%), from €2,080 to €9,057
- Taxes +€3,491
up €3,491 (+30.7%), from €11,358 to €14,849
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 | €179,082 | €209,234 | +€30,152 | +16.8% |
| Fixed assets | 21/28 | €10,766 | €18,012 | +€7,246 | +67.3% |
| Tangible fixed assets | 22/27 | €10,766 | €18,012 | +€7,246 | +67.3% |
| Plant, machinery and equipment | 23 | €3,538 | €3,183 | -€355 | -10.0% |
| Furniture and vehicles | 24 | €6,153 | €12,607 | +€6,454 | +105% |
| Other tangible fixed assets | 26 | €1,075 | €2,223 | +€1,147 | +107% |
| Current assets | 29/58 | €168,316 | €191,222 | +€22,906 | +13.6% |
| Amounts receivable after more than one year | 29 | €62,000 | €62,000 | = | 0.0% |
| Other amounts receivable | 291 | €62,000 | €62,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,834 | €45,633 | +€13,798 | +43.3% |
| Trade receivables | 40 | €26,535 | €41,723 | +€15,188 | +57.2% |
| Other amounts receivable | 41 | €5,299 | €3,910 | -€1,389 | -26.2% |
| Current investments | 50/53 | €55,700 | €57,458 | +€1,758 | +3.2% |
| Cash at bank and in hand | 54/58 | €16,992 | €24,211 | +€7,219 | +42.5% |
| Deferred charges and accrued income | 490/1 | €1,789 | €1,920 | +€131 | +7.3% |
| Total equity and liabilities | 10/49 | €179,082 | €209,234 | +€30,152 | +16.8% |
| Equity | 10/15 | €154,654 | €163,674 | +€9,020 | +5.8% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €154,654 | €163,674 | +€9,020 | +5.8% |
| Distributable reserves | 133 | €154,654 | €163,674 | +€9,020 | +5.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,428 | €45,559 | +€21,132 | +86.5% |
| Amounts payable within one year | 42/48 | €24,428 | €44,699 | +€20,271 | +83.0% |
| Financial debts | 43 | - | €3,779 | +€3,779 | |
| Credit institutions | 430/8 | - | €3,779 | +€3,779 | |
| Trade debts | 44 | €8,998 | €22,692 | +€13,694 | +152% |
| Suppliers | 440/4 | €8,998 | €22,692 | +€13,694 | +152% |
| Taxes, remuneration and social security | 45 | €15,429 | €14,458 | -€971 | -6.3% |
| Taxes | 450/3 | €15,429 | €14,458 | -€971 | -6.3% |
| Other amounts payable | 47/48 | - | €3,771 | +€3,771 | |
| Accrued charges and deferred income | 492/3 | - | €861 | +€861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,080 | €9,057 | +€6,977 | +335% |
| Other operating charges | 640/8 | €683 | €364 | -€319 | -46.7% |
| Gross operating margin | 9900 | €54,053 | €79,302 | +€25,249 | +46.7% |
| Operating profit (loss) | 9901 | €51,290 | €69,880 | +€18,590 | +36.2% |
| Financial income | 75/76B | €1,702 | €1,936 | +€234 | +13.7% |
| Recurring financial income | 75 | €1,702 | €1,936 | +€234 | +13.7% |
| Financial charges | 65/66B | €1,785 | €2,048 | +€263 | +14.7% |
| Recurring financial charges | 65 | €1,785 | €2,048 | +€263 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €51,206 | €69,768 | +€18,562 | +36.2% |
| Income taxes | 67/77 | €11,358 | €14,849 | +€3,491 | +30.7% |
| Profit (loss) for the period | 9904 | €39,848 | €54,919 | +€15,071 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,848 | €54,919 | +€15,071 | +37.8% |
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 20 October 2026 via checked.be.