KOVERDIS: 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.
KOVERDIS
Largest movements
- Receivables within one year -€42,039
down €42,039 (-12.5%), from €336,915 to €294,877
of which Other amounts receivable: -€70,515
- Tangible fixed assets -€14,918
down €14,918 (-27.2%), from €54,807 to €39,889
of which Plant, machinery and equipment: -€11,807
- Stocks and contracts +€5,389
up €5,389 (+9.8%), from €55,066 to €60,455
- Trade debts -€47,035
down €47,035 (-13.3%), from €352,974 to €305,939
- Tax, wage and social debts -€20,278
down €20,278 (-16.7%), from €121,713 to €101,436
of which Remuneration and social security: -€18,402
- Profit (loss) carried forward +€13,501
up €13,501 (+20.1%), from -€67,201 to -€53,700
- Gross operating margin +€27,275
up €27,275 (+6.0%), from €455,244 to €482,518
- Staff costs +€24,941
up €24,941 (+6.2%), from €404,659 to €429,600
- Other operating charges +€9,298
up €9,298 (+183%), from €5,080 to €14,378
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 | €469,486 | €415,675 | -€53,812 | -11.5% |
| Fixed assets | 21/28 | €54,807 | €39,889 | -€14,918 | -27.2% |
| Tangible fixed assets | 22/27 | €54,807 | €39,889 | -€14,918 | -27.2% |
| Plant, machinery and equipment | 23 | €46,497 | €34,690 | -€11,807 | -25.4% |
| Furniture and vehicles | 24 | €5,885 | €3,184 | -€2,702 | -45.9% |
| Other tangible fixed assets | 26 | €2,425 | €2,015 | -€410 | -16.9% |
| Current assets | 29/58 | €414,679 | €375,785 | -€38,894 | -9.4% |
| Stocks and contracts in progress | 3 | €55,066 | €60,455 | +€5,389 | +9.8% |
| Stocks | 30/36 | €55,066 | €60,455 | +€5,389 | +9.8% |
| Amounts receivable within one year | 40/41 | €336,915 | €294,877 | -€42,039 | -12.5% |
| Trade receivables | 40 | €100,657 | €129,133 | +€28,476 | +28.3% |
| Other amounts receivable | 41 | €236,258 | €165,744 | -€70,515 | -29.8% |
| Cash at bank and in hand | 54/58 | €22,697 | €20,454 | -€2,244 | -9.9% |
| Total equity and liabilities | 10/49 | €469,486 | €415,675 | -€53,812 | -11.5% |
| Equity | 10/15 | -€5,201 | €8,300 | +€13,501 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,201 | -€53,700 | +€13,501 | +20.1% |
| Amounts payable | 17/49 | €474,688 | €407,375 | -€67,313 | -14.2% |
| Amounts payable within one year | 42/48 | €474,688 | €407,375 | -€67,313 | -14.2% |
| Trade debts | 44 | €352,974 | €305,939 | -€47,035 | -13.3% |
| Suppliers | 440/4 | €352,974 | €305,939 | -€47,035 | -13.3% |
| Taxes, remuneration and social security | 45 | €121,713 | €101,436 | -€20,278 | -16.7% |
| Taxes | 450/3 | €45,142 | €43,266 | -€1,876 | -4.2% |
| Remuneration and social security | 454/9 | €76,572 | €58,170 | -€18,402 | -24.0% |
| Non-recurring operating income | 76A | €1,910 | - | -€1,910 | |
| Remuneration, social security and pensions | 62 | €404,659 | €429,600 | +€24,941 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,004 | €17,278 | +€1,274 | +8.0% |
| Other operating charges | 640/8 | €5,080 | €14,378 | +€9,298 | +183% |
| Gross operating margin | 9900 | €455,244 | €482,518 | +€27,275 | +6.0% |
| Operating profit (loss) | 9901 | €29,501 | €21,263 | -€8,238 | -27.9% |
| Financial income | 75/76B | €5,160 | €2,122 | -€3,039 | -58.9% |
| Recurring financial income | 75 | €5,160 | €2,122 | -€3,039 | -58.9% |
| Financial charges | 65/66B | €1,588 | €2,399 | +€811 | +51.1% |
| Recurring financial charges | 65 | €1,580 | €2,267 | +€687 | +43.5% |
| Non-recurring financial charges | 66B | €8 | €133 | +€125 | +1,558% |
| Profit (loss) for the period before taxes | 9903 | €33,074 | €20,985 | -€12,088 | -36.5% |
| Income taxes | 67/77 | €11,210 | €7,484 | -€3,726 | -33.2% |
| Profit (loss) for the period | 9904 | €21,863 | €13,501 | -€8,362 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,863 | €13,501 | -€8,362 | -38.2% |
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 16 October 2026 via checked.be.