COFER: 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.
COFER
Largest movements
- Receivables after one year -€45,000
down €45,000 (-27.3%), from €165,000 to €120,000
- Tangible fixed assets +€20,261
up €20,261 (+248.4%), from €8,157 to €28,417
- Reserves -€20,807
down €20,807 (-12.9%), from €161,309 to €140,502
- Short-term financial debts -€4,069
no longer reported in 2025 (was €4,069)
- Gross operating margin +€4,952
up €4,952 (+20.2%), from -€24,504 to -€19,552
- Depreciation -€3,147
down €3,147 (-68.5%), from €4,594 to €1,447
- Other operating charges -€970
down €970 (-41.7%), from €2,323 to €1,353
- Financial income -€762
down €762 (-17.6%), from €4,328 to €3,566
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 | €179,626 | €154,804 | -€24,822 | -13.8% |
| Fixed assets | 21/28 | €8,457 | €28,417 | +€19,961 | +236.0% |
| Tangible fixed assets | 22/27 | €8,157 | €28,417 | +€20,261 | +248.4% |
| Furniture and vehicles | 24 | €8,157 | €28,417 | +€20,261 | +248.4% |
| Financial fixed assets | 28 | €300 | - | -€300 | |
| Current assets | 29/58 | €171,170 | €126,387 | -€44,783 | -26.2% |
| Amounts receivable after more than one year | 29 | €165,000 | €120,000 | -€45,000 | -27.3% |
| Other amounts receivable | 291 | €165,000 | €120,000 | -€45,000 | -27.3% |
| Amounts receivable within one year | 40/41 | €37 | €1,551 | +€1,514 | +4057.0% |
| Trade receivables | 40 | €37 | - | -€37 | |
| Other amounts receivable | 41 | - | €1,551 | +€1,551 | |
| Cash at bank and in hand | 54/58 | €221 | €362 | +€141 | +63.8% |
| Deferred charges and accrued income | 490/1 | €5,911 | €4,473 | -€1,438 | -24.3% |
| Total equity and liabilities | 10/49 | €179,626 | €154,804 | -€24,822 | -13.8% |
| Equity | 10/15 | €173,709 | €152,902 | -€20,807 | -12.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €161,309 | €140,502 | -€20,807 | -12.9% |
| Distributable reserves | 133 | €161,309 | €140,502 | -€20,807 | -12.9% |
| Amounts payable | 17/49 | €5,917 | €1,902 | -€4,015 | -67.9% |
| Amounts payable within one year | 42/48 | €5,807 | €1,902 | -€3,906 | -67.3% |
| Financial debts | 43 | €4,069 | - | -€4,069 | |
| Credit institutions | 430/8 | €4,069 | - | -€4,069 | |
| Trade debts | 44 | €923 | €288 | -€635 | -68.8% |
| Suppliers | 440/4 | - | €288 | +€288 | |
| Bills of exchange payable | 441 | €923 | - | -€923 | |
| Taxes, remuneration and social security | 45 | €504 | €220 | -€285 | -56.4% |
| Taxes | 450/3 | €504 | €220 | -€285 | -56.4% |
| Other amounts payable | 47/48 | €311 | €1,394 | +€1,083 | +348.3% |
| Accrued charges and deferred income | 492/3 | €110 | - | -€110 | |
| Non-recurring operating income | 76A | €2,066 | - | -€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,594 | €1,447 | -€3,147 | -68.5% |
| Other operating charges | 640/8 | €2,323 | €1,353 | -€970 | -41.7% |
| Non-recurring operating charges | 66A | - | €1,369 | +€1,369 | |
| Gross operating margin | 9900 | -€24,504 | -€19,552 | +€4,952 | +20.2% |
| Operating profit (loss) | 9901 | -€31,421 | -€23,721 | +€7,700 | +24.5% |
| Financial income | 75/76B | €4,328 | €3,566 | -€762 | -17.6% |
| Recurring financial income | 75 | €4,328 | €3,566 | -€762 | -17.6% |
| Financial charges | 65/66B | €599 | €431 | -€168 | -28.1% |
| Recurring financial charges | 65 | €599 | €431 | -€168 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,692 | -€20,586 | +€7,105 | +25.7% |
| Income taxes | 67/77 | €266 | €221 | -€46 | -17.1% |
| Profit (loss) for the period | 9904 | -€27,958 | -€20,807 | +€7,151 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,958 | -€20,807 | +€7,151 | +25.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.