IMMO COBRA: 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.
IMMO COBRA
Largest movements
- Cash -€230,264
down €230,264 (-44.6%), from €516,834 to €286,570
mainly Tax, wage and social debts (-€96,359) and Receivables within one year (-€91,224)
- Receivables within one year +€91,224
new in 2026: €91,224
- Tangible fixed assets +€11,696
up €11,696 (+18.2%), from €64,109 to €75,805
- Tax, wage and social debts -€96,359
no longer reported in 2026 (was €96,359)
- Other debts -€28,847
down €28,847 (-20.4%), from €141,743 to €112,897
- Gross operating margin -€435,636
down €435,636, from €435,192 to -€444
- Taxes -€96,359
down €96,359 (-100.0%), from €96,359 to €0
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €581,252 | €454,246 | -€127,006 | -21.9% |
| Fixed assets | 21/28 | €64,109 | €76,135 | +€12,026 | +18.8% |
| Tangible fixed assets | 22/27 | €64,109 | €75,805 | +€11,696 | +18.2% |
| Land and buildings | 22 | €64,109 | €75,805 | +€11,696 | +18.2% |
| Financial fixed assets | 28 | - | €330 | +€330 | |
| Current assets | 29/58 | €517,143 | €378,111 | -€139,032 | -26.9% |
| Amounts receivable within one year | 40/41 | - | €91,224 | +€91,224 | |
| Other amounts receivable | 41 | - | €91,224 | +€91,224 | |
| Cash at bank and in hand | 54/58 | €516,834 | €286,570 | -€230,264 | -44.6% |
| Deferred charges and accrued income | 490/1 | €309 | €317 | +€9 | +2.8% |
| Total equity and liabilities | 10/49 | €581,252 | €454,246 | -€127,006 | -21.9% |
| Equity | 10/15 | €343,149 | €340,613 | -€2,536 | -0.7% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Capital | 10 | €155,000 | €155,000 | = | 0.0% |
| Issued capital | 100 | €155,000 | €155,000 | = | 0.0% |
| Reserves | 13 | €188,149 | €188,149 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,407 | €9,407 | = | 0.0% |
| Legal reserve | 130 | €9,407 | €9,407 | = | 0.0% |
| Distributable reserves | 133 | €178,742 | €178,742 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,536 | -€2,536 | |
| Amounts payable | 17/49 | €238,102 | €113,633 | -€124,469 | -52.3% |
| Amounts payable within one year | 42/48 | €238,102 | €113,633 | -€124,469 | -52.3% |
| Trade debts | 44 | - | €736 | +€736 | |
| Suppliers | 440/4 | - | €736 | +€736 | |
| Taxes, remuneration and social security | 45 | €96,359 | - | -€96,359 | |
| Taxes | 450/3 | €96,359 | - | -€96,359 | |
| Other amounts payable | 47/48 | €141,743 | €112,897 | -€28,847 | -20.4% |
| Non-recurring operating income | 76A | €429,815 | - | -€429,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €999 | €1,202 | +€203 | +20.3% |
| Other operating charges | 640/8 | €2,841 | €2,336 | -€504 | -17.8% |
| Gross operating margin | 9900 | €435,192 | -€444 | -€435,636 | |
| Operating profit (loss) | 9901 | €431,352 | -€3,982 | -€435,335 | |
| Financial income | 75/76B | €0 | €1,491 | +€1,490 | +372550.0% |
| Recurring financial income | 75 | €0 | €1,491 | +€1,490 | +372550.0% |
| Financial charges | 65/66B | €345 | €45 | -€300 | -87.0% |
| Recurring financial charges | 65 | €345 | €45 | -€300 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | €431,008 | -€2,536 | -€433,544 | |
| Income taxes | 67/77 | €96,359 | €0 | -€96,359 | -100.0% |
| Profit (loss) for the period | 9904 | €334,649 | -€2,536 | -€337,185 | |
| Profit (loss) for the period to be appropriated | 9905 | €334,649 | -€2,536 | -€337,185 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.