KOBALT: 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.
KOBALT
Largest movements
- Receivables within one year +€24,697
up €24,697 (+114%), from €21,658 to €46,355
of which Other amounts receivable: +€15,588
- Tangible fixed assets +€8,438
up €8,438 (+38.6%), from €21,865 to €30,303
of which Plant, machinery and equipment: +€9,209
- Deferred charges and accrued income -€6,209
no longer reported in 2025 (was €6,209)
- Reserves +€17,758
up €17,758 (+71.7%), from €24,778 to €42,536
of which Distributable reserves: +€17,758
- Short-term financial debts +€9,582
up €9,582 (+4,807%), from €199 to €9,781
- Debts after one year -€5,085
down €5,085 (-58.9%), from €8,629 to €3,544
- Trade debts +€2,834
new in 2025: €2,834
- Tax, wage and social debts +€1,528
up €1,528 (+25.3%), from €6,039 to €7,567
- Other operating charges -€3,433
down €3,433 (-90.4%), from €3,797 to €365
- Depreciation +€3,266
up €3,266 (+100%), from €3,264 to €6,530
- Gross operating margin +€764
up €764 (+2.8%), from €27,034 to €27,798
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 | €64,925 | €91,852 | +€26,926 | +41.5% |
| Fixed assets | 21/28 | €22,140 | €30,578 | +€8,438 | +38.1% |
| Tangible fixed assets | 22/27 | €21,865 | €30,303 | +€8,438 | +38.6% |
| Plant, machinery and equipment | 23 | €2,674 | €11,883 | +€9,209 | +344% |
| Furniture and vehicles | 24 | €19,191 | €18,420 | -€770 | -4.0% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €42,785 | €61,273 | +€18,488 | +43.2% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,780 | €4,780 | = | 0.0% |
| Stocks | 30/36 | €4,780 | €4,780 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,658 | €46,355 | +€24,697 | +114% |
| Trade receivables | 40 | €15,482 | €24,591 | +€9,109 | +58.8% |
| Other amounts receivable | 41 | €6,177 | €21,765 | +€15,588 | +252% |
| Cash at bank and in hand | 54/58 | €138 | €138 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €6,209 | - | -€6,209 | |
| Total equity and liabilities | 10/49 | €64,925 | €91,852 | +€26,926 | +41.5% |
| Equity | 10/15 | €43,378 | €61,136 | +€17,758 | +40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,778 | €42,536 | +€17,758 | +71.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €18,918 | €36,676 | +€17,758 | +93.9% |
| Amounts payable | 17/49 | €21,547 | €30,716 | +€9,169 | +42.6% |
| Amounts payable after more than one year | 17 | €8,629 | €3,544 | -€5,085 | -58.9% |
| Financial debts | 170/4 | €8,629 | €3,544 | -€5,085 | -58.9% |
| Amounts payable within one year | 42/48 | €11,058 | €25,266 | +€14,209 | +128% |
| Current portion of amounts payable after more than one year | 42 | €4,819 | €5,085 | +€266 | +5.5% |
| Financial debts | 43 | €199 | €9,781 | +€9,582 | +4,807% |
| Credit institutions | 430/8 | €199 | €9,781 | +€9,582 | +4,807% |
| Trade debts | 44 | - | €2,834 | +€2,834 | |
| Suppliers | 440/4 | - | €2,834 | +€2,834 | |
| Taxes, remuneration and social security | 45 | €6,039 | €7,567 | +€1,528 | +25.3% |
| Taxes | 450/3 | €6,039 | €7,567 | +€1,528 | +25.3% |
| Accrued charges and deferred income | 492/3 | €1,860 | €1,905 | +€45 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,264 | €6,530 | +€3,266 | +100% |
| Other operating charges | 640/8 | €3,797 | €365 | -€3,433 | -90.4% |
| Gross operating margin | 9900 | €27,034 | €27,798 | +€764 | +2.8% |
| Operating profit (loss) | 9901 | €19,973 | €20,903 | +€930 | +4.7% |
| Financial income | 75/76B | - | €171 | +€171 | |
| Recurring financial income | 75 | - | €171 | +€171 | |
| Financial charges | 65/66B | €1,320 | €1,394 | +€74 | +5.6% |
| Recurring financial charges | 65 | €1,320 | €1,394 | +€74 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €18,653 | €19,680 | +€1,027 | +5.5% |
| Income taxes | 67/77 | €1,814 | €1,923 | +€108 | +6.0% |
| Profit (loss) for the period | 9904 | €16,839 | €17,758 | +€919 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,839 | €17,758 | +€919 | +5.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.