KOVERIM: 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.
What changed
KOVERIM
NACE 46.370, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€68,992
2024 · -€132,904+€201,896
Equity
€33,469
2024 · -€35,524+€68,992
Cash
€15,963
2024 · €16,239-€275
Balance sheet total
€1.1m
2024 · €1.2m-€70,832
Largest movements
Assets
- Tangible fixed assets -€45,667
down €45,667 (-6.0%), from €763,217 to €717,550
- Receivables within one year +€30,049
up €30,049 (+53.8%), from €55,808 to €85,857
of which Trade receivables: +€24,510
- Receivables after one year -€29,550
no longer reported in 2025 (was €29,550)
- Formation expenses -€21,327
down €21,327 (-22.6%), from €94,223 to €72,896
Equity and liabilities
- Debts after one year -€84,765
down €84,765 (-13.5%), from €629,501 to €544,736
of which Financial debts: -€84,765
- Profit (loss) carried forward +€71,482
up €71,482 (+15.6%), from -€457,731 to -€386,250
- Trade debts -€30,321
down €30,321 (-17.5%), from €173,322 to €143,002
- Current portion of long-term debt -€24,760
down €24,760 (-21.8%), from €113,637 to €88,877
- Short-term financial debts +€24,084
up €24,084 (+13.1%), from €183,488 to €207,571
Income statement
- Staff costs -€199,489
down €199,489 (-57.3%), from €348,396 to €148,908
- Gross operating margin +€94,695
up €94,695 (+37.3%), from €254,067 to €348,762
- Financial charges -€10,821
down €10,821 (-20.5%), from €52,689 to €41,869
of which Non-recurring financial charges: -€9,465
- Depreciation +€4,889
up €4,889 (+6.9%), from €70,904 to €75,793
- Other operating charges -€4,663
down €4,663 (-19.7%), from €23,720 to €19,056
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.
Result 2024
-€132,904
Gross operating margin
+€94,695
Staff costs
+€199,489
Depreciation
-€4,889
Write-downs
-€392
Other operating charges
+€4,663
Other operating items
-€106,634
Financial income
+€4,088
Financial charges
+€10,821
Taxes
+€56
Result 2025
€68,992
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.
From operations
+€93,077
Investment
-€7,912
Financing
-€85,441
Cash 2024
€16,239
From operations (derived)
+€93,077
Net result for the year
+€68,992
Depreciation
+€75,793
Receivables after one year
+€29,550
Stocks and contracts
+€7,245
Receivables within one year
-€30,049
Deferred charges and accrued income
-€4,070
Provisions
-€622
Trade debts
-€30,321
Tax, wage and social debts
-€17,940
Other debts
-€7,236
Accrued charges and deferred income
+€1,735
Investment (derived)
-€7,912
Investment in fixed assets (net)
-€7,912
Financing
-€85,441
Debts after one year
-€84,765
Current portion of long-term debt
-€24,760
Short-term financial debts
+€24,084
Cash 2025
€15,963
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,157,877 | €1,087,044 | -€70,832 | -6.1% |
| Formation expenses | 20 | €94,223 | €72,896 | -€21,327 | -22.6% |
| Fixed assets | 21/28 | €810,881 | €764,327 | -€46,554 | -5.7% |
| Intangible fixed assets | 21 | €15,586 | €14,199 | -€1,387 | -8.9% |
| Tangible fixed assets | 22/27 | €763,217 | €717,550 | -€45,667 | -6.0% |
| Land and buildings | 22 | €573,274 | €554,619 | -€18,655 | -3.3% |
| Plant, machinery and equipment | 23 | €32,996 | €24,013 | -€8,984 | -27.2% |
| Furniture and vehicles | 24 | €1,187 | €3,143 | +€1,956 | +164.8% |
| Leasing and similar rights | 25 | €131,239 | €116,982 | -€14,258 | -10.9% |
| Other tangible fixed assets | 26 | €24,520 | €18,794 | -€5,727 | -23.4% |
| Financial fixed assets | 28 | €32,078 | €32,578 | +€500 | +1.6% |
| Current assets | 29/58 | €252,773 | €249,822 | -€2,952 | -1.2% |
| Amounts receivable after more than one year | 29 | €29,550 | - | -€29,550 | |
| Other amounts receivable | 291 | €29,550 | - | -€29,550 | |
| Stocks and contracts in progress | 3 | €148,405 | €141,160 | -€7,245 | -4.9% |
| Stocks | 30/36 | €148,405 | €141,160 | -€7,245 | -4.9% |
| Amounts receivable within one year | 40/41 | €55,808 | €85,857 | +€30,049 | +53.8% |
| Trade receivables | 40 | €39,277 | €63,787 | +€24,510 | +62.4% |
| Other amounts receivable | 41 | €16,531 | €22,070 | +€5,539 | +33.5% |
| Cash at bank and in hand | 54/58 | €16,239 | €15,963 | -€275 | -1.7% |
| Deferred charges and accrued income | 490/1 | €2,771 | €6,841 | +€4,070 | +146.8% |
| Total equity and liabilities | 10/49 | €1,157,877 | €1,087,044 | -€70,832 | -6.1% |
| Equity | 10/15 | -€35,524 | €33,469 | +€68,992 | |
| Contributions | 10/11 | €297,720 | €297,720 | = | 0.0% |
| Capital | 10 | €297,720 | €297,720 | = | 0.0% |
| Issued capital | 100 | €297,720 | €297,720 | = | 0.0% |
| Revaluation surpluses | 12 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €110,488 | €107,999 | -€2,489 | -2.3% |
| Non-distributable reserves | 130/1 | €6,136 | €6,136 | = | 0.0% |
| Legal reserve | 130 | €6,136 | €6,136 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,477 | €89,988 | -€2,489 | -2.7% |
| Distributable reserves | 133 | €11,875 | €11,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€457,731 | -€386,250 | +€71,482 | +15.6% |
| Provisions and deferred taxes | 16 | €16,869 | €16,247 | -€622 | -3.7% |
| Deferred taxes | 168 | €16,869 | €16,247 | -€622 | -3.7% |
| Amounts payable | 17/49 | €1,176,531 | €1,037,329 | -€139,202 | -11.8% |
| Amounts payable after more than one year | 17 | €629,501 | €544,736 | -€84,765 | -13.5% |
| Financial debts | 170/4 | €343,501 | €258,736 | -€84,765 | -24.7% |
| Other amounts payable | 178/9 | €286,000 | €286,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €546,853 | €490,681 | -€56,172 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €113,637 | €88,877 | -€24,760 | -21.8% |
| Financial debts | 43 | €183,488 | €207,571 | +€24,084 | +13.1% |
| Credit institutions | 430/8 | €183,488 | €207,571 | +€24,084 | +13.1% |
| Trade debts | 44 | €173,322 | €143,002 | -€30,321 | -17.5% |
| Suppliers | 440/4 | €173,322 | €143,002 | -€30,321 | -17.5% |
| Taxes, remuneration and social security | 45 | €68,041 | €50,101 | -€17,940 | -26.4% |
| Taxes | 450/3 | €14,300 | €8,623 | -€5,677 | -39.7% |
| Remuneration and social security | 454/9 | €53,741 | €41,478 | -€12,263 | -22.8% |
| Other amounts payable | 47/48 | €8,365 | €1,129 | -€7,236 | -86.5% |
| Accrued charges and deferred income | 492/3 | €178 | €1,912 | +€1,735 | +977.1% |
| Non-recurring operating income | 76A | €17,000 | - | -€17,000 | |
| Remuneration, social security and pensions | 62 | €348,396 | €148,908 | -€199,489 | -57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,904 | €75,793 | +€4,889 | +6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €392 | +€392 | |
| Other operating charges | 640/8 | €23,720 | €19,056 | -€4,663 | -19.7% |
| Operating charges capitalised as restructuring costs | 649 | -€96,669 | - | +€96,669 | |
| Non-recurring operating charges | 66A | -€9,965 | - | +€9,965 | |
| Gross operating margin | 9900 | €254,067 | €348,762 | +€94,695 | +37.3% |
| Operating profit (loss) | 9901 | -€82,319 | €104,613 | +€186,932 | |
| Financial income | 75/76B | €1,839 | €5,926 | +€4,088 | +222.3% |
| Recurring financial income | 75 | €1,839 | €1,392 | -€446 | -24.3% |
| Non-recurring financial income | 76B | - | €4,534 | +€4,534 | |
| Financial charges | 65/66B | €52,689 | €41,869 | -€10,821 | -20.5% |
| Recurring financial charges | 65 | €42,725 | €41,369 | -€1,356 | -3.2% |
| Non-recurring financial charges | 66B | €9,965 | €500 | -€9,465 | -95.0% |
| Profit (loss) for the period before taxes | 9903 | -€133,170 | €68,671 | +€201,840 | |
| Transfer from deferred taxes | 780 | €622 | €622 | +€0 | 0.0% |
| Income taxes | 67/77 | €357 | €301 | -€56 | -15.8% |
| Profit (loss) for the period | 9904 | -€132,904 | €68,992 | +€201,896 | |
| Transfer from tax-exempt reserves | 789 | €2,489 | €2,489 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€130,415 | €71,482 | +€201,896 |
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 12 October 2026 via checked.be.