RETOUCHES COVA: what changed
RETOUCHES COVA
Largest movements
- Receivables within one year -€18,778
down €18,778 (-59.7%), from €31,440 to €12,662
of which Trade receivables: -€11,336
- Stocks and contracts +€16,796
up €16,796 (+43.1%), from €38,986 to €55,782
- Tangible fixed assets -€5,598
down €5,598 (-16.7%), from €33,496 to €27,897
of which Furniture and vehicles: -€3,850
- Deferred charges and accrued income +€3,065
up €3,065 (+119%), from €2,582 to €5,647
- Cash -€2,386
down €2,386 (-13.6%), from €17,609 to €15,222
mainly Stocks and contracts (-€16,796) and Debts after one year (-€7,059)
- Debts after one year -€7,059
down €7,059 (-21.9%), from €32,263 to €25,205
of which Financial debts: -€3,559
- Reserves +€4,975
up €4,975 (+9.7%), from €51,405 to €56,380
- Other debts -€3,944
down €3,944 (-59.1%), from €6,674 to €2,730
- Tax, wage and social debts -€3,095
down €3,095 (-16.4%), from €18,901 to €15,806
of which Remuneration and social security: -€2,630
- Trade debts +€2,146
up €2,146 (+23.9%), from €8,978 to €11,124
- Staff costs -€28,525
down €28,525 (-26.2%), from €108,926 to €80,402
- Gross operating margin -€22,922
down €22,922 (-18.5%), from €123,581 to €100,659
- Taxes +€1,750
up €1,750 (+164%), from €1,066 to €2,816
- Financial income +€1,257
up €1,257 (+1,459%), from €86 to €1,343
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,362 | €122,461 | -€6,901 | -5.3% |
| Fixed assets | 21/28 | €38,746 | €33,147 | -€5,598 | -14.4% |
| Tangible fixed assets | 22/27 | €33,496 | €27,897 | -€5,598 | -16.7% |
| Plant, machinery and equipment | 23 | €10,269 | €9,641 | -€628 | -6.1% |
| Furniture and vehicles | 24 | €10,883 | €7,032 | -€3,850 | -35.4% |
| Other tangible fixed assets | 26 | €12,343 | €11,223 | -€1,120 | -9.1% |
| Financial fixed assets | 28 | €5,250 | €5,250 | = | 0.0% |
| Current assets | 29/58 | €90,617 | €89,314 | -€1,303 | -1.4% |
| Stocks and contracts in progress | 3 | €38,986 | €55,782 | +€16,796 | +43.1% |
| Stocks | 30/36 | €38,986 | €55,782 | +€16,796 | +43.1% |
| Amounts receivable within one year | 40/41 | €31,440 | €12,662 | -€18,778 | -59.7% |
| Trade receivables | 40 | €20,763 | €9,427 | -€11,336 | -54.6% |
| Other amounts receivable | 41 | €10,677 | €3,235 | -€7,442 | -69.7% |
| Cash at bank and in hand | 54/58 | €17,609 | €15,222 | -€2,386 | -13.6% |
| Deferred charges and accrued income | 490/1 | €2,582 | €5,647 | +€3,065 | +119% |
| Total equity and liabilities | 10/49 | €129,362 | €122,461 | -€6,901 | -5.3% |
| Equity | 10/15 | €59,051 | €64,026 | +€4,975 | +8.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €51,405 | €56,380 | +€4,975 | +9.7% |
| Distributable reserves | 133 | €51,405 | €56,380 | +€4,975 | +9.7% |
| Profit (loss) carried forward | 14 | €1,446 | €1,446 | = | 0.0% |
| Amounts payable | 17/49 | €70,312 | €58,436 | -€11,876 | -16.9% |
| Amounts payable after more than one year | 17 | €32,263 | €25,205 | -€7,059 | -21.9% |
| Financial debts | 170/4 | €7,263 | €3,705 | -€3,559 | -49.0% |
| Other amounts payable | 178/9 | €25,000 | €21,500 | -€3,500 | -14.0% |
| Amounts payable within one year | 42/48 | €37,972 | €33,219 | -€4,753 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €3,418 | €3,559 | +€140 | +4.1% |
| Trade debts | 44 | €8,978 | €11,124 | +€2,146 | +23.9% |
| Suppliers | 440/4 | €8,978 | €11,124 | +€2,146 | +23.9% |
| Taxes, remuneration and social security | 45 | €18,901 | €15,806 | -€3,095 | -16.4% |
| Taxes | 450/3 | €10,367 | €9,902 | -€465 | -4.5% |
| Remuneration and social security | 454/9 | €8,534 | €5,904 | -€2,630 | -30.8% |
| Other amounts payable | 47/48 | €6,674 | €2,730 | -€3,944 | -59.1% |
| Accrued charges and deferred income | 492/3 | €77 | €13 | -€64 | -83.4% |
| Remuneration, social security and pensions | 62 | €108,926 | €80,402 | -€28,525 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,689 | €9,705 | +€1,016 | +11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €491 | €0 | -€491 | -100% |
| Other operating charges | 640/8 | €2,350 | €3,396 | +€1,045 | +44.5% |
| Gross operating margin | 9900 | €123,581 | €100,659 | -€22,922 | -18.5% |
| Operating profit (loss) | 9901 | €3,125 | €7,157 | +€4,032 | +129% |
| Financial income | 75/76B | €86 | €1,343 | +€1,257 | +1,459% |
| Recurring financial income | 75 | €86 | €1,343 | +€1,257 | +1,459% |
| Financial charges | 65/66B | €904 | €710 | -€194 | -21.5% |
| Recurring financial charges | 65 | €904 | €710 | -€194 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €2,307 | €7,791 | +€5,484 | +238% |
| Income taxes | 67/77 | €1,066 | €2,816 | +€1,750 | +164% |
| Profit (loss) for the period | 9904 | €1,241 | €4,975 | +€3,734 | +301% |
| Profit (loss) for the period to be appropriated | 9905 | €1,241 | €4,975 | +€3,734 | +301% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.