KOBRACON: 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.
KOBRACON
Largest movements
- Receivables after one year -€94,000
down €94,000 (-100%), from €94,000 to €0
- Cash -€78,361
down €78,361 (-82.8%), from €94,661 to €16,301
mainly Other debts (-€99,201) and Receivables within one year (-€34,652)
- Receivables within one year +€34,652
up €34,652 (+34.4%), from €100,739 to €135,391
of which Other amounts receivable: +€45,521
- Other debts -€99,201
down €99,201 (-100%), from €99,201 to €0
- Trade debts -€31,966
down €31,966 (-95.8%), from €33,351 to €1,385
- Tax, wage and social debts -€8,871
down €8,871 (-53.1%), from €16,702 to €7,831
of which Taxes: -€8,275
- Reserves +€5,639
up €5,639 (+3.6%), from €157,262 to €162,900
- Current portion of long-term debt -€3,580
down €3,580 (-100%), from €3,580 to €0
- Financial income -€25,585
down €25,585 (-83.9%), from €30,502 to €4,917
- Gross operating margin +€2,755
up €2,755 (+23.2%), from €11,899 to €14,654
- Depreciation +€1,138
up €1,138 (+19.1%), from €5,953 to €7,091
- Taxes -€873
down €873 (-15.5%), from €5,638 to €4,765
- Financial charges -€358
down €358 (-36.2%), from €991 to €633
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 | €316,393 | €178,403 | -€137,990 | -43.6% |
| Fixed assets | 21/28 | €21,196 | €22,462 | +€1,267 | +6.0% |
| Tangible fixed assets | 22/27 | €21,196 | €22,462 | +€1,267 | +6.0% |
| Land and buildings | 22 | €803 | €644 | -€159 | -19.8% |
| Plant, machinery and equipment | 23 | €11,894 | €12,574 | +€680 | +5.7% |
| Furniture and vehicles | 24 | €8,499 | €9,244 | +€745 | +8.8% |
| Current assets | 29/58 | €295,198 | €155,941 | -€139,257 | -47.2% |
| Amounts receivable after more than one year | 29 | €94,000 | €0 | -€94,000 | -100% |
| Other amounts receivable | 291 | €94,000 | €0 | -€94,000 | -100% |
| Amounts receivable within one year | 40/41 | €100,739 | €135,391 | +€34,652 | +34.4% |
| Trade receivables | 40 | €56,869 | €46,000 | -€10,869 | -19.1% |
| Other amounts receivable | 41 | €43,870 | €89,391 | +€45,521 | +104% |
| Cash at bank and in hand | 54/58 | €94,661 | €16,301 | -€78,361 | -82.8% |
| Deferred charges and accrued income | 490/1 | €5,797 | €4,249 | -€1,549 | -26.7% |
| Total equity and liabilities | 10/49 | €316,393 | €178,403 | -€137,990 | -43.6% |
| Equity | 10/15 | €163,462 | €169,100 | +€5,639 | +3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €157,262 | €162,900 | +€5,639 | +3.6% |
| Distributable reserves | 133 | €157,262 | €162,900 | +€5,639 | +3.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €152,932 | €9,303 | -€143,629 | -93.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €152,834 | €9,235 | -€143,599 | -94.0% |
| Current portion of amounts payable after more than one year | 42 | €3,580 | €0 | -€3,580 | -100% |
| Financial debts | 43 | €0 | €19 | +€19 | |
| Credit institutions | 430/8 | €0 | €19 | +€19 | |
| Trade debts | 44 | €33,351 | €1,385 | -€31,966 | -95.8% |
| Suppliers | 440/4 | €33,351 | €1,385 | -€31,966 | -95.8% |
| Taxes, remuneration and social security | 45 | €16,702 | €7,831 | -€8,871 | -53.1% |
| Taxes | 450/3 | €14,055 | €5,781 | -€8,275 | -58.9% |
| Remuneration and social security | 454/9 | €2,646 | €2,050 | -€596 | -22.5% |
| Other amounts payable | 47/48 | €99,201 | €0 | -€99,201 | -100% |
| Accrued charges and deferred income | 492/3 | €98 | €68 | -€30 | -30.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,953 | €7,091 | +€1,138 | +19.1% |
| Other operating charges | 640/8 | €1,273 | €1,444 | +€171 | +13.4% |
| Non-recurring operating charges | 66A | €284 | €0 | -€284 | -100% |
| Gross operating margin | 9900 | €11,899 | €14,654 | +€2,755 | +23.2% |
| Operating profit (loss) | 9901 | €4,388 | €6,119 | +€1,731 | +39.4% |
| Financial income | 75/76B | €30,502 | €4,917 | -€25,585 | -83.9% |
| Recurring financial income | 75 | €30,502 | €4,917 | -€25,585 | -83.9% |
| Financial charges | 65/66B | €991 | €633 | -€358 | -36.2% |
| Recurring financial charges | 65 | €991 | €633 | -€358 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €33,899 | €10,403 | -€23,496 | -69.3% |
| Income taxes | 67/77 | €5,638 | €4,765 | -€873 | -15.5% |
| Profit (loss) for the period | 9904 | €28,262 | €5,639 | -€22,623 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,262 | €5,639 | -€22,623 | -80.0% |
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 23 October 2026 via checked.be.