COVREX: 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.
What changed
COVREX
NACE 47.529, Retail trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€272,480
2024 · €321,908-€594,388
Equity
€4.5m
2024 · €4.7m-€272,480
Cash
€76,151
2024 · €580,626-€504,476
Balance sheet total
€4.5m
2024 · €5.8m-€1.3m
Largest movements
Assets
- Receivables within one year +€4.0m
up €4.0m (+1264.8%), from €319,738 to €4.4m
of which Other amounts receivable: +€3.2m
- Current investments -€2.9m
down €2.9m (-100.0%), from €2.9m to €0
- Stocks and contracts -€1.4m
down €1.4m (-100.0%), from €1.4m to €0
- Tangible fixed assets -€514,481
down €514,481 (-100.0%), from €514,481 to €0
- Cash -€504,476
down €504,476 (-86.9%), from €580,626 to €76,151
mainly Receivables within one year (-€4.0m) and Trade debts (-€973,166)
Equity and liabilities
- Trade debts -€973,166
down €973,166 (-99.4%), from €978,832 to €5,666
- Profit (loss) carried forward -€272,480
down €272,480 (-27.2%), from €1.0m to €731,016
Income statement
- Turnover -€5.2m
no longer reported in 2025 (was €5.2m)
- Goods and materials -€3.1m
no longer reported in 2025 (was €3.1m)
of which Purchases: -€2.1m
- Services and other goods -€1.3m
no longer reported in 2025 (was €1.3m)
- Taxes -€285,079
down €285,079, from €214,761 to -€70,318
of which Taxes: -€214,761
- Depreciation -€229,599
down €229,599 (-100.0%), from €229,599 to €0
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.
Result 2024
€321,908
Turnover
-€5.2m
Other operating income
-€57,337
Goods and materials
+€3.1m
Services and other goods
+€1.3m
Staff costs
-€98
Depreciation
+€229,599
Write-downs
+€99,610
Other operating charges
-€13,140
Other operating items
-€390,554
Financial income
-€30,625
Financial charges
+€33,439
Taxes
+€285,079
Result 2025
-€272,480
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.
From operations
-€3.9m
Investment
+€3.4m
Financing
-€46,779
Cash 2024
€580,626
From operations (derived)
-€3.9m
Net result for the year
-€272,480
Stocks and contracts
+€1.4m
Receivables within one year
-€4.0m
Smaller working-capital items
-€2,555
Trade debts
-€973,166
Advances received
-€32,010
Accrued charges and deferred income
-€12,399
Investment (derived)
+€3.4m
Investment in fixed assets (net)
+€529,938
Current investments
+€2.9m
Financing
-€46,779
Debts after one year
-€32,063
Current portion of long-term debt
-€14,716
Cash 2025
€76,151
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,830,866 | €4,494,031 | -€1.3m | -22.9% |
| Fixed assets | 21/28 | €529,938 | €0 | -€529,938 | -100.0% |
| Intangible fixed assets | 21 | €14,469 | €0 | -€14,469 | -100.0% |
| Tangible fixed assets | 22/27 | €514,481 | €0 | -€514,481 | -100.0% |
| Plant, machinery and equipment | 23 | €150,818 | €0 | -€150,818 | -100.0% |
| Furniture and vehicles | 24 | €45,239 | €0 | -€45,239 | -100.0% |
| Leasing and similar rights | 25 | €73,825 | €0 | -€73,825 | -100.0% |
| Other tangible fixed assets | 26 | €244,598 | €0 | -€244,598 | -100.0% |
| Financial fixed assets | 28 | €988 | €0 | -€988 | -100.0% |
| Other financial fixed assets | 284/8 | €988 | - | -€988 | |
| Amounts receivable and cash guarantees | 285/8 | €988 | - | -€988 | |
| Current assets | 29/58 | €5,300,928 | €4,494,031 | -€806,896 | -15.2% |
| Stocks and contracts in progress | 3 | €1,449,061 | €0 | -€1.4m | -100.0% |
| Stocks | 30/36 | €1,449,061 | €0 | -€1.4m | -100.0% |
| Goods purchased for resale | 34 | €1,449,061 | - | -€1.4m | |
| Amounts receivable within one year | 40/41 | €319,738 | €4,363,823 | +€4.0m | +1264.8% |
| Trade receivables | 40 | €145,340 | €1,017,384 | +€872,045 | +600.0% |
| Other amounts receivable | 41 | €174,398 | €3,346,438 | +€3.2m | +1818.8% |
| Current investments | 50/53 | €2,900,000 | €0 | -€2.9m | -100.0% |
| Other investments | 51/53 | €2,900,000 | - | -€2.9m | |
| Cash at bank and in hand | 54/58 | €580,626 | €76,151 | -€504,476 | -86.9% |
| Deferred charges and accrued income | 490/1 | €51,502 | €54,058 | +€2,555 | +5.0% |
| Total equity and liabilities | 10/49 | €5,830,866 | €4,494,031 | -€1.3m | -22.9% |
| Equity | 10/15 | €4,726,702 | €4,454,222 | -€272,480 | -5.8% |
| Contributions | 10/11 | €344,072 | €344,072 | = | 0.0% |
| Reserves | 13 | €3,379,133 | €3,379,133 | = | 0.0% |
| Non-distributable reserves | 130/1 | €781 | €781 | = | 0.0% |
| Reserves not available under the articles | 1311 | €781 | €781 | = | 0.0% |
| Tax-exempt reserves | 132 | €421,000 | €421,000 | = | 0.0% |
| Distributable reserves | 133 | €2,957,352 | €2,957,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,003,496 | €731,016 | -€272,480 | -27.2% |
| Amounts payable | 17/49 | €1,104,164 | €39,809 | -€1.1m | -96.4% |
| Amounts payable after more than one year | 17 | €32,063 | €0 | -€32,063 | -100.0% |
| Financial debts | 170/4 | €32,063 | €0 | -€32,063 | -100.0% |
| Leasing and similar obligations | 172 | €32,063 | - | -€32,063 | |
| Amounts payable within one year | 42/48 | €1,059,702 | €39,809 | -€1.0m | -96.2% |
| Current portion of amounts payable after more than one year | 42 | €46,740 | €32,024 | -€14,716 | -31.5% |
| Trade debts | 44 | €978,832 | €5,666 | -€973,166 | -99.4% |
| Suppliers | 440/4 | €978,832 | €5,666 | -€973,166 | -99.4% |
| Advances received on contracts in progress | 46 | €32,010 | €0 | -€32,010 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,119 | €2,119 | +€0 | 0.0% |
| Taxes | 450/3 | €2,119 | €2,119 | +€0 | 0.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €12,399 | €0 | -€12,399 | -100.0% |
| Operating income | 70/76A | €5,218,128 | - | -€5.2m | |
| Turnover | 70 | €5,160,179 | - | -€5.2m | |
| Other operating income | 74 | €57,337 | - | -€57,337 | |
| Non-recurring operating income | 76A | €612 | €0 | -€612 | -100.0% |
| Operating charges | 60/66A | €4,714,285 | - | -€4.7m | |
| Goods for resale, raw materials and consumables | 60 | €3,095,829 | - | -€3.1m | |
| Purchases | 600/8 | €2,075,308 | - | -€2.1m | |
| Change in stocks: decrease (increase) | 609 | €1,020,521 | - | -€1.0m | |
| Services and other goods | 61 | €1,313,989 | - | -€1.3m | |
| Remuneration, social security and pensions | 62 | €0 | €98 | +€98 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229,599 | €0 | -€229,599 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €72,962 | -€26,648 | -€99,610 | |
| Other operating charges | 640/8 | €1,906 | €15,046 | +€13,140 | +689.4% |
| Non-recurring operating charges | 66A | €0 | €272,615 | +€272,615 | |
| Gross operating margin | 9900 | - | -€117,326 | -€117,326 | |
| Operating profit (loss) | 9901 | €503,844 | -€378,437 | -€882,281 | |
| Financial income | 75/76B | €73,291 | €42,666 | -€30,625 | -41.8% |
| Recurring financial income | 75 | €73,291 | €42,666 | -€30,625 | -41.8% |
| Income from current assets | 751 | €45,929 | - | -€45,929 | |
| Other financial income | 752/9 | €27,362 | - | -€27,362 | |
| Financial charges | 65/66B | €40,466 | €7,027 | -€33,439 | -82.6% |
| Recurring financial charges | 65 | €40,466 | €7,027 | -€33,439 | -82.6% |
| Debt charges | 650 | €9,843 | - | -€9,843 | |
| Other financial charges | 652/9 | €30,623 | - | -€30,623 | |
| Profit (loss) for the period before taxes | 9903 | €536,669 | -€342,798 | -€879,467 | |
| Income taxes | 67/77 | €214,761 | -€70,318 | -€285,079 | |
| Taxes | 670/3 | €214,761 | - | -€214,761 | |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €321,908 | -€272,480 | -€594,388 | |
| Transfer from tax-exempt reserves | 789 | €315,750 | €0 | -€315,750 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €637,658 | -€272,480 | -€910,138 |
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 11 October 2026 via checked.be.