LT COBRA: 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.
LT COBRA
Largest movements
- Tangible fixed assets +€23,753
up €23,753 (+80.9%), from €29,369 to €53,123
- Cash +€4,210
up €4,210 (+6.6%), from €64,137 to €68,348
mainly Other debts (+€18,434) and Trade debts (+€16,903)
- Receivables within one year +€2,916
up €2,916 (+54.0%), from €5,400 to €8,317
of which Other amounts receivable: +€5,039
- Other debts +€18,434
up €18,434 (+809.7%), from €2,277 to €20,711
- Trade debts +€16,903
new in 2025: €16,903
- Tax, wage and social debts -€4,779
down €4,779 (-34.3%), from €13,950 to €9,171
of which Remuneration and social security: -€3,368
- Gross operating margin -€14,132
down €14,132 (-16.7%), from €84,513 to €70,382
- Taxes -€3,557
down €3,557 (-84.7%), from €4,200 to €643
- Depreciation -€3,470
down €3,470 (-30.3%), from €11,444 to €7,974
- Other operating charges +€2,099
up €2,099 (+217.7%), from €965 to €3,064
- Staff costs +€1,397
up €1,397 (+2.4%), from €57,213 to €58,609
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 | €105,241 | €135,865 | +€30,624 | +29.1% |
| Fixed assets | 21/28 | €35,447 | €59,200 | +€23,753 | +67.0% |
| Tangible fixed assets | 22/27 | €29,369 | €53,123 | +€23,753 | +80.9% |
| Furniture and vehicles | 24 | €29,369 | €53,123 | +€23,753 | +80.9% |
| Financial fixed assets | 28 | €6,078 | €6,078 | = | 0.0% |
| Current assets | 29/58 | €69,794 | €76,664 | +€6,870 | +9.8% |
| Amounts receivable within one year | 40/41 | €5,400 | €8,317 | +€2,916 | +54.0% |
| Trade receivables | 40 | €2,178 | €55 | -€2,123 | -97.5% |
| Other amounts receivable | 41 | €3,222 | €8,262 | +€5,039 | +156.4% |
| Cash at bank and in hand | 54/58 | €64,137 | €68,348 | +€4,210 | +6.6% |
| Deferred charges and accrued income | 490/1 | €256 | - | -€256 | |
| Total equity and liabilities | 10/49 | €105,241 | €135,865 | +€30,624 | +29.1% |
| Equity | 10/15 | €89,014 | €89,079 | +€65 | +0.1% |
| Contributions | 10/11 | €20,823 | €20,823 | = | 0.0% |
| Reserves | 13 | €16,039 | €16,039 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,164 | - | -€2,164 | |
| Reserves not available under the articles | 1311 | €2,164 | - | -€2,164 | |
| Distributable reserves | 133 | €13,875 | €16,039 | +€2,164 | +15.6% |
| Profit (loss) carried forward | 14 | €52,152 | €52,217 | +€65 | +0.1% |
| Amounts payable | 17/49 | €16,226 | €46,785 | +€30,559 | +188.3% |
| Amounts payable within one year | 42/48 | €16,226 | €46,785 | +€30,559 | +188.3% |
| Trade debts | 44 | - | €16,903 | +€16,903 | |
| Suppliers | 440/4 | - | €16,903 | +€16,903 | |
| Taxes, remuneration and social security | 45 | €13,950 | €9,171 | -€4,779 | -34.3% |
| Taxes | 450/3 | €6,157 | €4,747 | -€1,411 | -22.9% |
| Remuneration and social security | 454/9 | €7,792 | €4,424 | -€3,368 | -43.2% |
| Other amounts payable | 47/48 | €2,277 | €20,711 | +€18,434 | +809.7% |
| Remuneration, social security and pensions | 62 | €57,213 | €58,609 | +€1,397 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,444 | €7,974 | -€3,470 | -30.3% |
| Other operating charges | 640/8 | €965 | €3,064 | +€2,099 | +217.7% |
| Non-recurring operating charges | 66A | €974 | - | -€974 | |
| Gross operating margin | 9900 | €84,513 | €70,382 | -€14,132 | -16.7% |
| Operating profit (loss) | 9901 | €13,918 | €735 | -€13,183 | -94.7% |
| Financial income | 75/76B | - | €92 | +€92 | |
| Recurring financial income | 75 | - | €92 | +€92 | |
| Financial charges | 65/66B | €50 | €119 | +€69 | +137.5% |
| Recurring financial charges | 65 | €50 | €119 | +€69 | +137.5% |
| Profit (loss) for the period before taxes | 9903 | €13,867 | €707 | -€13,160 | -94.9% |
| Income taxes | 67/77 | €4,200 | €643 | -€3,557 | -84.7% |
| Profit (loss) for the period | 9904 | €9,667 | €65 | -€9,603 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,667 | €65 | -€9,603 | -99.3% |
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 10 October 2026 via checked.be.