CODELCO: 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.
CODELCO
Largest movements
- Tangible fixed assets +€43,637
up €43,637 (+429.4%), from €10,163 to €53,799
of which Furniture and vehicles: +€41,908
- Receivables within one year -€39,730
down €39,730 (-70.7%), from €56,191 to €16,461
of which Trade receivables: -€40,696
- Cash -€36,405
down €36,405 (-69.2%), from €52,605 to €16,200
mainly Investment in fixed assets (net) (-€52,614) and Contributions, distributions and other (-€43,497)
- Reserves -€20,855
down €20,855 (-9.9%), from €210,109 to €189,255
- Tax, wage and social debts -€14,749
down €14,749 (-78.0%), from €18,917 to €4,167
of which Taxes: -€17,249
- Other debts +€4,973
up €4,973 (+28.1%), from €17,667 to €22,639
- Gross operating margin -€49,497
down €49,497 (-48.0%), from €103,195 to €53,699
- Taxes -€9,964
down €9,964 (-36.7%), from €27,164 to €17,200
- Depreciation +€3,790
up €3,790 (+73.1%), from €5,188 to €8,977
- Financial charges -€1,098
down €1,098 (-24.2%), from €4,534 to €3,437
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 | €271,836 | €239,417 | -€32,419 | -11.9% |
| Fixed assets | 21/28 | €10,163 | €53,799 | +€43,637 | +429.4% |
| Tangible fixed assets | 22/27 | €10,163 | €53,799 | +€43,637 | +429.4% |
| Plant, machinery and equipment | 23 | €0 | €957 | +€957 | |
| Furniture and vehicles | 24 | €3,491 | €45,399 | +€41,908 | +1200.5% |
| Other tangible fixed assets | 26 | €6,672 | €7,444 | +€772 | +11.6% |
| Current assets | 29/58 | €261,673 | €185,618 | -€76,056 | -29.1% |
| Amounts receivable within one year | 40/41 | €56,191 | €16,461 | -€39,730 | -70.7% |
| Trade receivables | 40 | €56,191 | €15,495 | -€40,696 | -72.4% |
| Other amounts receivable | 41 | €0 | €966 | +€966 | |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €52,605 | €16,200 | -€36,405 | -69.2% |
| Deferred charges and accrued income | 490/1 | €2,877 | €2,956 | +€79 | +2.8% |
| Total equity and liabilities | 10/49 | €271,836 | €239,417 | -€32,419 | -11.9% |
| Equity | 10/15 | €228,709 | €207,855 | -€20,855 | -9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €210,109 | €189,255 | -€20,855 | -9.9% |
| Distributable reserves | 133 | €210,109 | €189,255 | -€20,855 | -9.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,127 | €31,562 | -€11,565 | -26.8% |
| Amounts payable within one year | 42/48 | €40,285 | €28,635 | -€11,650 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,702 | €1,829 | -€1,873 | -50.6% |
| Suppliers | 440/4 | €3,702 | €1,829 | -€1,873 | -50.6% |
| Taxes, remuneration and social security | 45 | €18,917 | €4,167 | -€14,749 | -78.0% |
| Taxes | 450/3 | €18,917 | €1,667 | -€17,249 | -91.2% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €17,667 | €22,639 | +€4,973 | +28.1% |
| Accrued charges and deferred income | 492/3 | €2,842 | €2,927 | +€85 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,188 | €8,977 | +€3,790 | +73.1% |
| Other operating charges | 640/8 | €1,724 | €1,262 | -€462 | -26.8% |
| Non-recurring operating charges | 66A | - | €186 | +€186 | |
| Gross operating margin | 9900 | €103,195 | €53,699 | -€49,497 | -48.0% |
| Operating profit (loss) | 9901 | €96,284 | €43,273 | -€53,011 | -55.1% |
| Financial income | 75/76B | €264 | €6 | -€258 | -97.7% |
| Recurring financial income | 75 | €264 | €6 | -€258 | -97.7% |
| Financial charges | 65/66B | €4,534 | €3,437 | -€1,098 | -24.2% |
| Recurring financial charges | 65 | €4,534 | €3,437 | -€1,098 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €92,013 | €39,842 | -€52,171 | -56.7% |
| Income taxes | 67/77 | €27,164 | €17,200 | -€9,964 | -36.7% |
| Profit (loss) for the period | 9904 | €64,849 | €22,642 | -€42,207 | -65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,849 | €22,642 | -€42,207 | -65.1% |
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 7 October 2026 via checked.be.