Le Couvert: 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.
Le Couvert
Largest movements
- Cash +€47,187
up €47,187 (+43.9%), from €107,468 to €154,655
mainly Net result for the year (+€68,123) and Depreciation (+€8,418)
- Deferred charges and accrued income +€19,251
new in 2025: €19,251
- Tangible fixed assets -€6,717
down €6,717 (-3.5%), from €192,175 to €185,458
of which Land and buildings: -€5,959
- Receivables within one year -€4,937
down €4,937 (-18.0%), from €27,458 to €22,521
of which Trade receivables: -€11,043
- Reserves +€68,123
up €68,123 (+41.3%), from €164,931 to €233,054
- Debts after one year -€10,000
down €10,000 (-7.3%), from €137,500 to €127,500
- Tax, wage and social debts -€3,990
down €3,990 (-34.3%), from €11,627 to €7,637
- Gross operating margin -€29,861
down €29,861 (-21.5%), from €138,885 to €109,025
- Taxes -€8,757
down €8,757 (-26.8%), from €32,651 to €23,894
- Financial charges +€4,878
up €4,878 (+188%), from €2,589 to €7,467
- Depreciation +€4,019
up €4,019 (+91.4%), from €4,399 to €8,418
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 | €327,101 | €381,885 | +€54,784 | +16.7% |
| Fixed assets | 21/28 | €192,175 | €185,458 | -€6,717 | -3.5% |
| Tangible fixed assets | 22/27 | €192,175 | €185,458 | -€6,717 | -3.5% |
| Land and buildings | 22 | €185,337 | €179,378 | -€5,959 | -3.2% |
| Plant, machinery and equipment | 23 | €1,361 | €1,948 | +€587 | +43.2% |
| Furniture and vehicles | 24 | €5,477 | €4,132 | -€1,346 | -24.6% |
| Current assets | 29/58 | €134,926 | €196,427 | +€61,501 | +45.6% |
| Amounts receivable within one year | 40/41 | €27,458 | €22,521 | -€4,937 | -18.0% |
| Trade receivables | 40 | €27,458 | €16,415 | -€11,043 | -40.2% |
| Other amounts receivable | 41 | €0 | €6,106 | +€6,106 | |
| Cash at bank and in hand | 54/58 | €107,468 | €154,655 | +€47,187 | +43.9% |
| Deferred charges and accrued income | 490/1 | - | €19,251 | +€19,251 | |
| Total equity and liabilities | 10/49 | €327,101 | €381,885 | +€54,784 | +16.7% |
| Equity | 10/15 | €165,931 | €234,054 | +€68,123 | +41.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €164,931 | €233,054 | +€68,123 | +41.3% |
| Distributable reserves | 133 | €164,931 | €233,054 | +€68,123 | +41.3% |
| Amounts payable | 17/49 | €161,170 | €147,831 | -€13,340 | -8.3% |
| Amounts payable after more than one year | 17 | €137,500 | €127,500 | -€10,000 | -7.3% |
| Financial debts | 170/4 | €137,500 | €127,500 | -€10,000 | -7.3% |
| Amounts payable within one year | 42/48 | €23,454 | €20,239 | -€3,215 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €582 | €1,239 | +€657 | +113% |
| Suppliers | 440/4 | €582 | €1,239 | +€657 | +113% |
| Taxes, remuneration and social security | 45 | €11,627 | €7,637 | -€3,990 | -34.3% |
| Taxes | 450/3 | €11,627 | €7,637 | -€3,990 | -34.3% |
| Other amounts payable | 47/48 | €1,245 | €1,364 | +€119 | +9.6% |
| Accrued charges and deferred income | 492/3 | €216 | €91 | -€125 | -57.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,399 | €8,418 | +€4,019 | +91.4% |
| Other operating charges | 640/8 | €794 | €1,123 | +€329 | +41.4% |
| Gross operating margin | 9900 | €138,885 | €109,025 | -€29,861 | -21.5% |
| Operating profit (loss) | 9901 | €133,693 | €99,484 | -€34,208 | -25.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -91.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -91.3% |
| Financial charges | 65/66B | €2,589 | €7,467 | +€4,878 | +188% |
| Recurring financial charges | 65 | €2,589 | €7,467 | +€4,878 | +188% |
| Profit (loss) for the period before taxes | 9903 | €131,104 | €92,017 | -€39,087 | -29.8% |
| Income taxes | 67/77 | €32,651 | €23,894 | -€8,757 | -26.8% |
| Profit (loss) for the period | 9904 | €98,453 | €68,123 | -€30,329 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,453 | €68,123 | -€30,329 | -30.8% |
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 14 October 2026 via checked.be.