KOBE: 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.
KOBE
Largest movements
- Receivables within one year +€188,261
up €188,261 (+56.9%), from €331,100 to €519,361
- Tangible fixed assets -€113,990
down €113,990 (-10.1%), from €1.1m to €1.0m
of which Other tangible fixed assets: -€76,037
- Receivables after one year -€47,500
down €47,500 (-26.1%), from €182,100 to €134,600
- Cash -€36,233
down €36,233 (-49.1%), from €73,841 to €37,608
mainly Receivables within one year (-€188,261) and Debts after one year (-€62,712)
- Reserves +€86,339
up €86,339 (+6.6%), from €1.3m to €1.4m
of which Distributable reserves: +€97,000
- Debts after one year -€62,712
down €62,712 (-38.9%), from €161,102 to €98,390
- Tax, wage and social debts -€23,300
down €23,300 (-60.8%), from €38,300 to €15,000
- Gross operating margin -€26,069
down €26,069 (-7.7%), from €339,641 to €313,572
- Depreciation +€9,701
up €9,701 (+8.2%), from €117,826 to €127,527
- Financial income +€8,374
up €8,374 (+47.5%), from €17,644 to €26,018
- Taxes -€8,339
down €8,339 (-11.4%), from €73,242 to €64,903
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 | €1,723,613 | €1,720,395 | -€3,218 | -0.2% |
| Fixed assets | 21/28 | €1,132,533 | €1,018,543 | -€113,990 | -10.1% |
| Tangible fixed assets | 22/27 | €1,132,283 | €1,018,293 | -€113,990 | -10.1% |
| Plant, machinery and equipment | 23 | €1,246 | €819 | -€427 | -34.3% |
| Furniture and vehicles | 24 | €169,904 | €132,378 | -€37,526 | -22.1% |
| Other tangible fixed assets | 26 | €961,133 | €885,096 | -€76,037 | -7.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €591,080 | €701,852 | +€110,772 | +18.7% |
| Amounts receivable after more than one year | 29 | €182,100 | €134,600 | -€47,500 | -26.1% |
| Other amounts receivable | 291 | €182,100 | €134,600 | -€47,500 | -26.1% |
| Amounts receivable within one year | 40/41 | €331,100 | €519,361 | +€188,261 | +56.9% |
| Other amounts receivable | 41 | €331,100 | €519,361 | +€188,261 | +56.9% |
| Cash at bank and in hand | 54/58 | €73,841 | €37,608 | -€36,233 | -49.1% |
| Deferred charges and accrued income | 490/1 | €4,039 | €10,283 | +€6,244 | +154.6% |
| Total equity and liabilities | 10/49 | €1,723,613 | €1,720,395 | -€3,218 | -0.2% |
| Equity | 10/15 | €1,351,600 | €1,438,170 | +€86,570 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,300,428 | €1,386,767 | +€86,339 | +6.6% |
| Tax-exempt reserves | 132 | €514,568 | €503,907 | -€10,661 | -2.1% |
| Distributable reserves | 133 | €785,860 | €882,860 | +€97,000 | +12.3% |
| Profit (loss) carried forward | 14 | €32,572 | €32,803 | +€231 | +0.7% |
| Provisions and deferred taxes | 16 | €98,321 | €94,768 | -€3,553 | -3.6% |
| Deferred taxes | 168 | €98,321 | €94,768 | -€3,553 | -3.6% |
| Amounts payable | 17/49 | €273,692 | €187,457 | -€86,235 | -31.5% |
| Amounts payable after more than one year | 17 | €161,102 | €98,390 | -€62,712 | -38.9% |
| Financial debts | 170/4 | €161,102 | €98,390 | -€62,712 | -38.9% |
| Amounts payable within one year | 42/48 | €111,623 | €89,067 | -€22,556 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €60,872 | €62,712 | +€1,840 | +3.0% |
| Trade debts | 44 | €12,451 | €11,355 | -€1,096 | -8.8% |
| Suppliers | 440/4 | €12,451 | €11,355 | -€1,096 | -8.8% |
| Taxes, remuneration and social security | 45 | €38,300 | €15,000 | -€23,300 | -60.8% |
| Taxes | 450/3 | €38,300 | €15,000 | -€23,300 | -60.8% |
| Accrued charges and deferred income | 492/3 | €967 | - | -€967 | |
| Non-recurring operating income | 76A | €18,150 | - | -€18,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,826 | €127,527 | +€9,701 | +8.2% |
| Other operating charges | 640/8 | €9,999 | €9,351 | -€648 | -6.5% |
| Gross operating margin | 9900 | €339,641 | €313,572 | -€26,069 | -7.7% |
| Operating profit (loss) | 9901 | €211,816 | €176,694 | -€35,122 | -16.6% |
| Financial income | 75/76B | €17,644 | €26,018 | +€8,374 | +47.5% |
| Recurring financial income | 75 | €17,644 | €26,018 | +€8,374 | +47.5% |
| Financial charges | 65/66B | €5,822 | €4,792 | -€1,030 | -17.7% |
| Recurring financial charges | 65 | €5,822 | €4,792 | -€1,030 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €223,638 | €197,920 | -€25,718 | -11.5% |
| Transfer from deferred taxes | 780 | €3,553 | €3,553 | = | 0.0% |
| Income taxes | 67/77 | €73,242 | €64,903 | -€8,339 | -11.4% |
| Profit (loss) for the period | 9904 | €153,949 | €136,570 | -€17,379 | -11.3% |
| Transfer from tax-exempt reserves | 789 | €10,660 | €10,661 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,609 | €147,231 | -€17,378 | -10.6% |
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 9 October 2026 via checked.be.