COBE: 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.
COBE
Largest movements
- Tangible fixed assets +€116,992
up €116,992 (+65.3%), from €179,213 to €296,205
of which Furniture and vehicles: +€94,547
- Cash -€107,369
down €107,369 (-38.4%), from €279,280 to €171,911
mainly Investment in fixed assets (net) (-€146,216) and Contributions, distributions and other (-€28,983)
- Reserves +€14,106
up €14,106 (+3.1%), from €448,673 to €462,779
of which Distributable reserves: +€12,246
- Trade debts -€8,221
down €8,221 (-34.2%), from €24,022 to €15,801
- Gross operating margin +€19,930
up €19,930 (+27.6%), from €72,213 to €92,143
- Depreciation +€16,407
up €16,407 (+128%), from €12,817 to €29,224
- Financial income +€2,105
up €2,105 (+124%), from €1,695 to €3,800
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 | €497,773 | €503,386 | +€5,613 | +1.1% |
| Fixed assets | 21/28 | €179,274 | €296,266 | +€116,992 | +65.3% |
| Tangible fixed assets | 22/27 | €179,213 | €296,205 | +€116,992 | +65.3% |
| Land and buildings | 22 | €165,026 | €184,501 | +€19,475 | +11.8% |
| Plant, machinery and equipment | 23 | €2,246 | €5,217 | +€2,971 | +132% |
| Furniture and vehicles | 24 | €11,941 | €106,488 | +€94,547 | +792% |
| Financial fixed assets | 28 | €61 | €61 | -€0 | -0.3% |
| Current assets | 29/58 | €318,499 | €207,120 | -€111,379 | -35.0% |
| Amounts receivable within one year | 40/41 | €39,219 | €35,209 | -€4,010 | -10.2% |
| Trade receivables | 40 | €30,922 | €25,505 | -€5,417 | -17.5% |
| Other amounts receivable | 41 | €8,297 | €9,704 | +€1,407 | +17.0% |
| Cash at bank and in hand | 54/58 | €279,280 | €171,911 | -€107,369 | -38.4% |
| Total equity and liabilities | 10/49 | €497,773 | €503,386 | +€5,613 | +1.1% |
| Equity | 10/15 | €467,273 | €481,379 | +€14,106 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €448,673 | €462,779 | +€14,106 | +3.1% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €448,673 | €460,919 | +€12,246 | +2.7% |
| Amounts payable | 17/49 | €30,500 | €22,007 | -€8,493 | -27.8% |
| Amounts payable within one year | 42/48 | €30,500 | €22,007 | -€8,493 | -27.8% |
| Trade debts | 44 | €24,022 | €15,801 | -€8,221 | -34.2% |
| Suppliers | 440/4 | €24,022 | €15,801 | -€8,221 | -34.2% |
| Taxes, remuneration and social security | 45 | €6,478 | €4,309 | -€2,169 | -33.5% |
| Taxes | 450/3 | €6,478 | €4,309 | -€2,169 | -33.5% |
| Other amounts payable | 47/48 | - | €1,897 | +€1,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,817 | €29,224 | +€16,407 | +128% |
| Other operating charges | 640/8 | €3,085 | €2,753 | -€332 | -10.8% |
| Gross operating margin | 9900 | €72,213 | €92,143 | +€19,930 | +27.6% |
| Operating profit (loss) | 9901 | €56,311 | €60,166 | +€3,855 | +6.8% |
| Financial income | 75/76B | €1,695 | €3,800 | +€2,105 | +124% |
| Recurring financial income | 75 | €1,695 | €3,800 | +€2,105 | +124% |
| Financial charges | 65/66B | €129 | €65 | -€64 | -49.8% |
| Recurring financial charges | 65 | €129 | €65 | -€64 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €57,877 | €63,901 | +€6,024 | +10.4% |
| Income taxes | 67/77 | €20,376 | €20,812 | +€436 | +2.1% |
| Profit (loss) for the period | 9904 | €37,501 | €43,089 | +€5,588 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,501 | €43,089 | +€5,588 | +14.9% |
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 28 October 2026 via checked.be.