What changed?
Two fiscal 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.
COUVERTURE CREATIONS
Largest movements
- Cash -€33,796
down €33,796 (-27.7%), from €122,072 to €88,276
mainly Other debts (-€66,041) and Trade debts (-€46,586)
- Receivables within one year -€18,083
down €18,083 (-27.6%), from €65,493 to €47,411
of which Trade receivables: -€39,368
- Tangible fixed assets -€11,273
down €11,273 (-19.8%), from €56,930 to €45,657
of which Plant, machinery and equipment: -€10,095
- Financial fixed assets +€4,000
up €4,000 (+33.6%), from €11,913 to €15,913
- Deferred charges and accrued income +€2,782
up €2,782 (+226.1%), from €1,231 to €4,012
- Other debts -€66,041
down €66,041 (-90.8%), from €72,700 to €6,659
- Trade debts -€46,586
down €46,586 (-50.5%), from €92,170 to €45,585
- Tax, wage and social debts +€35,945
up €35,945 (+186.6%), from €19,258 to €55,204
of which Taxes: +€24,556
- Reserves +€27,776
up €27,776 (+84.7%), from €32,782 to €60,558
- Accrued charges and deferred income -€16,316
down €16,316 (-81.6%), from €20,000 to €3,684
- Gross operating margin +€60,561
up €60,561 (+38.6%), from €156,744 to €217,306
- Staff costs +€34,083
up €34,083 (+28.8%), from €118,350 to €152,433
- Taxes +€8,948
up €8,948 (+325.5%), from €2,749 to €11,697
- Depreciation +€5,992
up €5,992 (+41.7%), from €14,362 to €20,354
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 | €262,510 | €208,562 | -€53,948 | -20.6% |
| Fixed assets | 21/28 | €68,842 | €61,570 | -€7,273 | -10.6% |
| Tangible fixed assets | 22/27 | €56,930 | €45,657 | -€11,273 | -19.8% |
| Plant, machinery and equipment | 23 | €50,035 | €39,939 | -€10,095 | -20.2% |
| Furniture and vehicles | 24 | €6,895 | €5,718 | -€1,177 | -17.1% |
| Financial fixed assets | 28 | €11,913 | €15,913 | +€4,000 | +33.6% |
| Current assets | 29/58 | €193,668 | €146,992 | -€46,675 | -24.1% |
| Stocks and contracts in progress | 3 | €4,872 | €7,293 | +€2,421 | +49.7% |
| Stocks | 30/36 | €4,872 | €7,293 | +€2,421 | +49.7% |
| Amounts receivable within one year | 40/41 | €65,493 | €47,411 | -€18,083 | -27.6% |
| Trade receivables | 40 | €63,662 | €24,295 | -€39,368 | -61.8% |
| Other amounts receivable | 41 | €1,831 | €23,116 | +€21,285 | +1162.4% |
| Cash at bank and in hand | 54/58 | €122,072 | €88,276 | -€33,796 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,231 | €4,012 | +€2,782 | +226.1% |
| Total equity and liabilities | 10/49 | €262,510 | €208,562 | -€53,948 | -20.6% |
| Equity | 10/15 | €51,382 | €79,158 | +€27,776 | +54.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,782 | €60,558 | +€27,776 | +84.7% |
| Distributable reserves | 133 | €32,782 | €60,558 | +€27,776 | +84.7% |
| Amounts payable | 17/49 | €211,128 | €129,404 | -€81,724 | -38.7% |
| Amounts payable after more than one year | 17 | €3,215 | €11,678 | +€8,464 | +263.3% |
| Financial debts | 170/4 | €3,215 | €11,678 | +€8,464 | +263.3% |
| Amounts payable within one year | 42/48 | €187,913 | €114,042 | -€73,871 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €3,785 | €6,595 | +€2,810 | +74.3% |
| Trade debts | 44 | €92,170 | €45,585 | -€46,586 | -50.5% |
| Suppliers | 440/4 | €92,170 | €45,585 | -€46,586 | -50.5% |
| Taxes, remuneration and social security | 45 | €19,258 | €55,204 | +€35,945 | +186.6% |
| Taxes | 450/3 | €7,103 | €31,659 | +€24,556 | +345.7% |
| Remuneration and social security | 454/9 | €12,155 | €23,544 | +€11,389 | +93.7% |
| Other amounts payable | 47/48 | €72,700 | €6,659 | -€66,041 | -90.8% |
| Accrued charges and deferred income | 492/3 | €20,000 | €3,684 | -€16,316 | -81.6% |
| Remuneration, social security and pensions | 62 | €118,350 | €152,433 | +€34,083 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,362 | €20,354 | +€5,992 | +41.7% |
| Other operating charges | 640/8 | €3,121 | €4,028 | +€906 | +29.0% |
| Gross operating margin | 9900 | €156,744 | €217,306 | +€60,561 | +38.6% |
| Operating profit (loss) | 9901 | €20,912 | €40,491 | +€19,579 | +93.6% |
| Financial income | 75/76B | €32 | €198 | +€166 | +513.7% |
| Recurring financial income | 75 | €32 | €198 | +€166 | +513.7% |
| Financial charges | 65/66B | €373 | €1,217 | +€843 | +225.8% |
| Recurring financial charges | 65 | €373 | €1,217 | +€843 | +225.8% |
| Profit (loss) for the period before taxes | 9903 | €20,571 | €39,472 | +€18,902 | +91.9% |
| Income taxes | 67/77 | €2,749 | €11,697 | +€8,948 | +325.5% |
| Profit (loss) for the period | 9904 | €17,822 | €27,776 | +€9,954 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,822 | €27,776 | +€9,954 | +55.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 September 2026 via checked.be.