COFABEL: 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.
What changed
COFABEL
NACE 28.300, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.6m
2024 · -€4.9m+€257,042
Equity
€1.6m
2024 · -€1.8m+€3.4m
Cash
€352,289
2024 · €12,180+€340,109
Balance sheet total
€30.5m
2024 · €25.6m+€4.9m
Largest movements
Assets
- Stocks and contracts +€5.1m
up €5.1m (+35.5%), from €14.4m to €19.5m
- Receivables within one year -€459,243
down €459,243 (-7.0%), from €6.6m to €6.1m
of which Trade receivables: -€411,314
- Cash +€340,109
up €340,109 (+2792.3%), from €12,180 to €352,289
mainly Contributions, distributions and other (+€8.0m) and Short-term financial debts (+€1.2m)
Equity and liabilities
- Contributions +€8.0m
up €8.0m (+255.1%), from €3.1m to €11.1m
- Profit (loss) carried forward -€4.6m
down €4.6m (-94.8%), from -€4.9m to -€9.6m
- Short-term financial debts +€1.2m
up €1.2m (+6.1%), from €19.5m to €20.7m
- Debts after one year -€963,088
down €963,088 (-24.5%), from €3.9m to €3.0m
- Trade debts +€923,999
up €923,999 (+34.9%), from €2.6m to €3.6m
Income statement
- Staff costs +€1.3m
up €1.3m (+29.8%), from €4.2m to €5.5m
- Write-downs -€647,032
down €647,032, from €526,655 to -€120,377
- Services and other goods +€641,834
up €641,834 (+17.0%), from €3.8m to €4.4m
- Other operating income +€545,063
up €545,063 (+40.8%), from €1.3m to €1.9m
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.
Result 2024
-€4.9m
Turnover
-€133,653
Other operating income
+€545,063
Goods and materials
+€69,726
Services and other goods
-€641,834
Staff costs
-€1.3m
Depreciation
-€229,891
Write-downs
+€647,032
Provisions
-€23,800
Other operating charges
-€41,782
Other operating items
+€1.3m
Financial income
+€9,397
Financial charges
+€58,616
Taxes
-€756
Result 2025
-€4.6m
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.
From operations
-€7.3m
Investment
-€566,514
Financing
+€8.2m
Cash 2024
€12,180
From operations (derived)
-€7.3m
Net result for the year
-€4.6m
Depreciation
+€686,543
Stocks and contracts
-€5.1m
Receivables within one year
+€459,243
Deferred charges and accrued income
-€28,030
Provisions
+€23,800
Trade debts
+€923,999
Tax, wage and social debts
+€146,440
Advances received
+€52,445
Other debts
-€2,797
Accrued charges and deferred income
+€156,512
Investment (derived)
-€566,514
Investment in fixed assets (net)
-€566,514
Financing
+€8.2m
Debts after one year
-€963,088
Short-term financial debts
+€1.2m
Contributions, distributions and other
+€8.0m
Cash 2025
€352,289
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,569,114 | €30,452,048 | +€4.9m | +19.1% |
| Fixed assets | 21/28 | €4,558,850 | €4,438,821 | -€120,029 | -2.6% |
| Intangible fixed assets | 21 | €31,492 | €80,101 | +€48,609 | +154.4% |
| Tangible fixed assets | 22/27 | €3,327,173 | €3,158,536 | -€168,638 | -5.1% |
| Land and buildings | 22 | €1,153,734 | €1,125,604 | -€28,130 | -2.4% |
| Plant, machinery and equipment | 23 | €540,431 | €560,194 | +€19,763 | +3.7% |
| Furniture and vehicles | 24 | €1,141,179 | €1,145,054 | +€3,875 | +0.3% |
| Other tangible fixed assets | 26 | €392,728 | €320,588 | -€72,139 | -18.4% |
| Assets under construction and advance payments | 27 | €99,103 | €7,096 | -€92,007 | -92.8% |
| Financial fixed assets | 28 | €1,200,185 | €1,200,185 | = | 0.0% |
| Affiliated companies | 280/1 | €1,200,000 | €1,200,000 | = | 0.0% |
| Participating interests | 280 | €1,200,000 | €1,200,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €185 | €185 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €21,010,264 | €26,013,227 | +€5.0m | +23.8% |
| Stocks and contracts in progress | 3 | €14,366,133 | €19,460,200 | +€5.1m | +35.5% |
| Stocks | 30/36 | €14,366,133 | €19,460,200 | +€5.1m | +35.5% |
| Goods purchased for resale | 34 | €14,366,133 | €19,460,200 | +€5.1m | +35.5% |
| Amounts receivable within one year | 40/41 | €6,557,075 | €6,097,832 | -€459,243 | -7.0% |
| Trade receivables | 40 | €6,509,146 | €6,097,832 | -€411,314 | -6.3% |
| Other amounts receivable | 41 | €47,929 | - | -€47,929 | |
| Cash at bank and in hand | 54/58 | €12,180 | €352,289 | +€340,109 | +2792.3% |
| Deferred charges and accrued income | 490/1 | €74,876 | €102,906 | +€28,030 | +37.4% |
| Total equity and liabilities | 10/49 | €25,569,114 | €30,452,048 | +€4.9m | +19.1% |
| Equity | 10/15 | -€1,764,969 | €1,586,019 | +€3.4m | |
| Contributions | 10/11 | €3,136,276 | €11,136,276 | +€8.0m | +255.1% |
| Reserves | 13 | €4,809 | €4,809 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,809 | €4,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,906,053 | -€9,555,065 | -€4.6m | -94.8% |
| Provisions and deferred taxes | 16 | - | €23,800 | +€23,800 | |
| Provisions for liabilities and charges | 160/5 | - | €23,800 | +€23,800 | |
| Other liabilities and charges | 164/5 | - | €23,800 | +€23,800 | |
| Amounts payable | 17/49 | €27,334,083 | €28,842,229 | +€1.5m | +5.5% |
| Amounts payable after more than one year | 17 | €3,927,419 | €2,964,332 | -€963,088 | -24.5% |
| Financial debts | 170/4 | €3,927,419 | €2,964,332 | -€963,088 | -24.5% |
| Other loans | 174 | €3,927,419 | €2,964,332 | -€963,088 | -24.5% |
| Amounts payable within one year | 42/48 | €23,381,995 | €25,696,717 | +€2.3m | +9.9% |
| Financial debts | 43 | €19,509,195 | €20,703,829 | +€1.2m | +6.1% |
| Other loans | 439 | €19,509,195 | €20,703,829 | +€1.2m | +6.1% |
| Trade debts | 44 | €2,645,811 | €3,569,810 | +€923,999 | +34.9% |
| Suppliers | 440/4 | €2,645,811 | €3,569,810 | +€923,999 | +34.9% |
| Advances received on contracts in progress | 46 | €351,244 | €403,690 | +€52,445 | +14.9% |
| Taxes, remuneration and social security | 45 | €872,948 | €1,019,388 | +€146,440 | +16.8% |
| Taxes | 450/3 | €139,436 | €163,216 | +€23,780 | +17.1% |
| Remuneration and social security | 454/9 | €733,512 | €856,172 | +€122,660 | +16.7% |
| Other amounts payable | 47/48 | €2,797 | - | -€2,797 | |
| Accrued charges and deferred income | 492/3 | €24,668 | €181,180 | +€156,512 | +634.5% |
| Operating income | 70/76A | €40,379,528 | €40,765,809 | +€386,281 | +1.0% |
| Turnover | 70 | €39,011,177 | €38,877,524 | -€133,653 | -0.3% |
| Other operating income | 74 | €1,337,216 | €1,882,279 | +€545,063 | +40.8% |
| Non-recurring operating income | 76A | €31,134 | €6,006 | -€25,128 | -80.7% |
| Operating charges | 60/66A | €44,492,414 | €44,688,910 | +€196,497 | +0.4% |
| Goods for resale, raw materials and consumables | 60 | €34,243,009 | €34,173,283 | -€69,726 | -0.2% |
| Purchases | 600/8 | €37,454,603 | €39,248,890 | +€1.8m | +4.8% |
| Change in stocks: decrease (increase) | 609 | -€3,211,595 | -€5,075,607 | -€1.9m | -58.0% |
| Services and other goods | 61 | €3,770,322 | €4,412,156 | +€641,834 | +17.0% |
| Remuneration, social security and pensions | 62 | €4,198,294 | €5,450,145 | +€1.3m | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €456,652 | €686,543 | +€229,891 | +50.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €526,655 | -€120,377 | -€647,032 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €23,800 | +€23,800 | |
| Other operating charges | 640/8 | €21,578 | €63,360 | +€41,782 | +193.6% |
| Non-recurring operating charges | 66A | €1,275,905 | - | -€1.3m | |
| Operating profit (loss) | 9901 | -€4,112,886 | -€3,923,102 | +€189,784 | +4.6% |
| Financial income | 75/76B | €3,235 | €12,632 | +€9,397 | +290.5% |
| Recurring financial income | 75 | €3,235 | €12,632 | +€9,397 | +290.5% |
| Income from financial fixed assets | 750 | - | €499 | +€499 | |
| Income from current assets | 751 | €3,012 | €11,985 | +€8,972 | +297.8% |
| Other financial income | 752/9 | €223 | €149 | -€74 | -33.3% |
| Financial charges | 65/66B | €791,084 | €732,468 | -€58,616 | -7.4% |
| Recurring financial charges | 65 | €791,084 | €730,370 | -€60,714 | -7.7% |
| Debt charges | 650 | €786,263 | €728,760 | -€57,502 | -7.3% |
| Other financial charges | 652/9 | €4,821 | €1,609 | -€3,212 | -66.6% |
| Non-recurring financial charges | 66B | - | €2,099 | +€2,099 | |
| Profit (loss) for the period before taxes | 9903 | -€4,900,735 | -€4,642,938 | +€257,797 | +5.3% |
| Income taxes | 67/77 | €5,318 | €6,074 | +€756 | +14.2% |
| Taxes | 670/3 | €5,318 | €6,074 | +€756 | +14.2% |
| Profit (loss) for the period | 9904 | -€4,906,053 | -€4,649,012 | +€257,042 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,906,053 | -€4,649,012 | +€257,042 | +5.2% |
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 9 October 2026 via checked.be.