COFIAC: 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.
COFIAC
Largest movements
- Cash -€56,699
down €56,699 (-54.6%), from €103,771 to €47,072
mainly Other debts (-€75,364) and Investment in fixed assets (net) (-€73,407)
- Tangible fixed assets +€17,699
up €17,699 (+4.5%), from €395,813 to €413,512
of which Other tangible fixed assets: +€19,050
- Deferred charges and accrued income -€16,048
down €16,048 (-38.7%), from €41,494 to €25,447
- Financial fixed assets +€13,500
up €13,500 (+4,167%), from €324 to €13,824
- Other debts -€75,364
down €75,364 (-49.2%), from €153,192 to €77,828
- Reserves +€72,746
up €72,746 (+20.7%), from €350,650 to €423,396
of which Distributable reserves: +€74,746
- Trade debts -€28,127
down €28,127 (-44.8%), from €62,752 to €34,625
- Tax, wage and social debts +€24,171
up €24,171 (+30.1%), from €80,219 to €104,390
of which Remuneration and social security: +€17,922
- Current portion of long-term debt -€21,140
down €21,140 (-54.4%), from €38,870 to €17,729
- Staff costs +€92,439
up €92,439 (+37.7%), from €245,020 to €337,459
- Gross operating margin +€83,533
up €83,533 (+19.1%), from €438,276 to €521,808
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 | €738,543 | €693,396 | -€45,147 | -6.1% |
| Fixed assets | 21/28 | €397,269 | €427,920 | +€30,650 | +7.7% |
| Intangible fixed assets | 21 | €1,132 | €583 | -€549 | -48.5% |
| Tangible fixed assets | 22/27 | €395,813 | €413,512 | +€17,699 | +4.5% |
| Land and buildings | 22 | €332,146 | €315,061 | -€17,085 | -5.1% |
| Plant, machinery and equipment | 23 | - | €2,531 | +€2,531 | |
| Furniture and vehicles | 24 | €63,667 | €76,870 | +€13,203 | +20.7% |
| Other tangible fixed assets | 26 | - | €19,050 | +€19,050 | |
| Financial fixed assets | 28 | €324 | €13,824 | +€13,500 | +4,167% |
| Current assets | 29/58 | €341,273 | €265,476 | -€75,797 | -22.2% |
| Amounts receivable within one year | 40/41 | €196,008 | €192,958 | -€3,051 | -1.6% |
| Trade receivables | 40 | €182,132 | €166,373 | -€15,760 | -8.7% |
| Other amounts receivable | 41 | €13,876 | €26,585 | +€12,709 | +91.6% |
| Cash at bank and in hand | 54/58 | €103,771 | €47,072 | -€56,699 | -54.6% |
| Deferred charges and accrued income | 490/1 | €41,494 | €25,447 | -€16,048 | -38.7% |
| Total equity and liabilities | 10/49 | €738,543 | €693,396 | -€45,147 | -6.1% |
| Equity | 10/15 | €370,650 | €443,396 | +€72,746 | +19.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €350,650 | €423,396 | +€72,746 | +20.7% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €348,650 | €423,396 | +€74,746 | +21.4% |
| Amounts payable | 17/49 | €367,893 | €250,000 | -€117,893 | -32.0% |
| Amounts payable after more than one year | 17 | €32,860 | €15,130 | -€17,729 | -54.0% |
| Financial debts | 170/4 | €32,860 | €15,130 | -€17,729 | -54.0% |
| Amounts payable within one year | 42/48 | €335,033 | €234,573 | -€100,460 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €38,870 | €17,729 | -€21,140 | -54.4% |
| Trade debts | 44 | €62,752 | €34,625 | -€28,127 | -44.8% |
| Suppliers | 440/4 | €62,752 | €34,625 | -€28,127 | -44.8% |
| Taxes, remuneration and social security | 45 | €80,219 | €104,390 | +€24,171 | +30.1% |
| Taxes | 450/3 | €43,539 | €49,788 | +€6,249 | +14.4% |
| Remuneration and social security | 454/9 | €36,680 | €54,602 | +€17,922 | +48.9% |
| Other amounts payable | 47/48 | €153,192 | €77,828 | -€75,364 | -49.2% |
| Accrued charges and deferred income | 492/3 | - | €297 | +€297 | |
| Non-recurring operating income | 76A | €20,661 | €13,448 | -€7,213 | -34.9% |
| Remuneration, social security and pensions | 62 | €245,020 | €337,459 | +€92,439 | +37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,654 | €42,757 | +€2,103 | +5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,082 | €2,617 | +€536 | +25.7% |
| Other operating charges | 640/8 | €5,832 | €9,084 | +€3,252 | +55.8% |
| Non-recurring operating charges | 66A | €12,832 | €865 | -€11,967 | -93.3% |
| Gross operating margin | 9900 | €438,276 | €521,808 | +€83,533 | +19.1% |
| Operating profit (loss) | 9901 | €131,856 | €129,026 | -€2,831 | -2.1% |
| Financial income | 75/76B | €921 | €26 | -€895 | -97.1% |
| Recurring financial income | 75 | €921 | €26 | -€895 | -97.1% |
| Financial charges | 65/66B | €6,964 | €7,318 | +€354 | +5.1% |
| Recurring financial charges | 65 | €6,964 | €7,318 | +€354 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €125,813 | €121,734 | -€4,079 | -3.2% |
| Income taxes | 67/77 | €33,984 | €34,997 | +€1,013 | +3.0% |
| Profit (loss) for the period | 9904 | €91,829 | €86,737 | -€5,092 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €91,829 | €86,737 | -€5,092 | -5.5% |
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 17 October 2026 via checked.be.