KOBALD: what changed
Two fiscal 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.
KOBALD
Largest movements
- Tangible fixed assets -€8,258
down €8,258 (-12.6%), from €65,667 to €57,409
of which Other tangible fixed assets: -€7,272
- Receivables within one year +€4,648
up €4,648 (+255.2%), from €1,821 to €6,470
of which Trade receivables: +€4,548
- Cash -€4,189
down €4,189 (-24.1%), from €17,377 to €13,188
mainly Debts after one year (-€15,891) and Other debts (-€9,904)
- Profit (loss) carried forward +€17,262
up €17,262 (+6.1%), from -€280,935 to -€263,673
- Debts after one year -€15,891
down €15,891 (-11.3%), from €140,846 to €124,956
- Other debts -€9,904
down €9,904 (-41.1%), from €24,113 to €14,208
- Trade debts +€1,730
up €1,730 (+24.6%), from €7,028 to €8,759
- Short-term financial debts -€1,010
no longer reported in 2025 (was €1,010)
- Gross operating margin +€12,676
up €12,676 (+82.2%), from €15,429 to €28,105
- Financial charges -€365
down €365 (-20.4%), from €1,787 to €1,422
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 | €94,430 | €86,632 | -€7,798 | -8.3% |
| Fixed assets | 21/28 | €65,667 | €57,409 | -€8,258 | -12.6% |
| Tangible fixed assets | 22/27 | €65,667 | €57,409 | -€8,258 | -12.6% |
| Plant, machinery and equipment | 23 | €1,203 | €602 | -€601 | -50.0% |
| Furniture and vehicles | 24 | €570 | €185 | -€385 | -67.5% |
| Other tangible fixed assets | 26 | €63,894 | €56,623 | -€7,272 | -11.4% |
| Current assets | 29/58 | €28,763 | €29,222 | +€460 | +1.6% |
| Stocks and contracts in progress | 3 | €9,564 | €9,564 | = | 0.0% |
| Stocks | 30/36 | €9,564 | €9,564 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,821 | €6,470 | +€4,648 | +255.2% |
| Trade receivables | 40 | €1,198 | €5,746 | +€4,548 | +379.6% |
| Other amounts receivable | 41 | €623 | €724 | +€100 | +16.1% |
| Cash at bank and in hand | 54/58 | €17,377 | €13,188 | -€4,189 | -24.1% |
| Total equity and liabilities | 10/49 | €94,430 | €86,632 | -€7,798 | -8.3% |
| Equity | 10/15 | -€97,343 | -€80,081 | +€17,262 | +17.7% |
| Contributions | 10/11 | €183,592 | €183,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€280,935 | -€263,673 | +€17,262 | +6.1% |
| Amounts payable | 17/49 | €191,772 | €166,712 | -€25,060 | -13.1% |
| Amounts payable after more than one year | 17 | €140,846 | €124,956 | -€15,891 | -11.3% |
| Financial debts | 170/4 | €140,846 | €124,956 | -€15,891 | -11.3% |
| Amounts payable within one year | 42/48 | €47,970 | €38,858 | -€9,112 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €15,617 | €15,891 | +€274 | +1.8% |
| Financial debts | 43 | €1,010 | - | -€1,010 | |
| Credit institutions | 430/8 | €1,010 | - | -€1,010 | |
| Trade debts | 44 | €7,028 | €8,759 | +€1,730 | +24.6% |
| Suppliers | 440/4 | €7,028 | €8,759 | +€1,730 | +24.6% |
| Advances received on contracts in progress | 46 | €201 | - | -€201 | |
| Other amounts payable | 47/48 | €24,113 | €14,208 | -€9,904 | -41.1% |
| Accrued charges and deferred income | 492/3 | €2,956 | €2,899 | -€58 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,470 | €8,258 | -€212 | -2.5% |
| Other operating charges | 640/8 | €1,154 | €1,304 | +€150 | +13.0% |
| Gross operating margin | 9900 | €15,429 | €28,105 | +€12,676 | +82.2% |
| Operating profit (loss) | 9901 | €5,805 | €18,543 | +€12,738 | +219.4% |
| Financial income | 75/76B | - | €141 | +€141 | |
| Recurring financial income | 75 | - | €141 | +€141 | |
| Financial charges | 65/66B | €1,787 | €1,422 | -€365 | -20.4% |
| Recurring financial charges | 65 | €1,787 | €1,422 | -€365 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €4,018 | €17,262 | +€13,244 | +329.7% |
| Profit (loss) for the period | 9904 | €4,018 | €17,262 | +€13,244 | +329.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,018 | €17,262 | +€13,244 | +329.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.