COFIBAL: 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
COFIBAL
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,007
2024 · €523-€9,530
Equity
€22,641
2024 · €31,648-€9,007
Cash
€6,105
2024 · €9,018-€2,913
Balance sheet total
€249,392
2024 · €214,112+€35,280
Largest movements
Assets
- Receivables after one year +€58,000
new in 2025: €58,000
- Current investments -€38,704
down €38,704 (-99.5%), from €38,918 to €214
- Receivables within one year +€22,667
up €22,667 (+18.8%), from €120,379 to €143,045
of which Trade receivables: +€23,096
- Intangible fixed assets -€7,143
down €7,143 (-18.6%), from €38,324 to €31,181
- Financial fixed assets +€4,650
new in 2025: €4,650
Equity and liabilities
- Tax, wage and social debts +€30,481
up €30,481 (+144%), from €21,114 to €51,595
of which Taxes: +€17,779
- Trade debts +€28,054
up €28,054 (+121%), from €23,263 to €51,318
- Debts after one year -€12,144
down €12,144 (-44.4%), from €27,321 to €15,177
- Profit (loss) carried forward -€9,007
down €9,007 (-35.8%), from -€25,151 to -€34,158
- Provisions -€2,498
down €2,498 (-2.5%), from €99,410 to €96,912
Income statement
- Staff costs +€12,769
up €12,769 (+12.4%), from €103,336 to €116,105
- Write-downs +€7,929
new in 2025: €7,929
- Gross operating margin +€7,257
up €7,257 (+5.5%), from €131,552 to €138,810
- Financial income +€3,437
up €3,437 (+380%), from €903 to €4,340
- Taxes -€1,455
down €1,455 (-43.7%), from €3,333 to €1,877
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
€523
Gross operating margin
+€7,257
Staff costs
-€12,769
Depreciation
-€391
Write-downs
-€7,929
Other operating charges
-€856
Other operating items
-€227
Financial income
+€3,437
Financial charges
+€492
Taxes
+€1,455
Result 2025
-€9,007
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€24,612
Investment
+€34,054
Financing
-€12,355
Cash 2024
€9,018
From operations (derived)
-€24,612
Net result for the year
-€9,007
Depreciation
+€10,408
Receivables after one year
-€58,000
Receivables within one year
-€22,667
Deferred charges and accrued income
-€1,988
Provisions
-€2,498
Trade debts
+€28,054
Tax, wage and social debts
+€30,481
Advances received
+€605
Investment (derived)
+€34,054
Investment in fixed assets (net)
-€4,650
Current investments
+€38,704
Financing
-€12,355
Debts after one year
-€12,144
Current portion of long-term debt
-€211
Cash 2025
€6,105
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €214,112 | €249,392 | +€35,280 | +16.5% |
| Fixed assets | 21/28 | €44,325 | €38,568 | -€5,758 | -13.0% |
| Intangible fixed assets | 21 | €38,324 | €31,181 | -€7,143 | -18.6% |
| Tangible fixed assets | 22/27 | €6,001 | €2,736 | -€3,265 | -54.4% |
| Furniture and vehicles | 24 | €5,435 | €2,736 | -€2,699 | -49.7% |
| Other tangible fixed assets | 26 | €566 | - | -€566 | |
| Financial fixed assets | 28 | - | €4,650 | +€4,650 | |
| Current assets | 29/58 | €169,787 | €210,825 | +€41,038 | +24.2% |
| Amounts receivable after more than one year | 29 | - | €58,000 | +€58,000 | |
| Other amounts receivable | 291 | - | €58,000 | +€58,000 | |
| Amounts receivable within one year | 40/41 | €120,379 | €143,045 | +€22,667 | +18.8% |
| Trade receivables | 40 | €111,254 | €134,351 | +€23,096 | +20.8% |
| Other amounts receivable | 41 | €9,124 | €8,695 | -€430 | -4.7% |
| Current investments | 50/53 | €38,918 | €214 | -€38,704 | -99.5% |
| Cash at bank and in hand | 54/58 | €9,018 | €6,105 | -€2,913 | -32.3% |
| Deferred charges and accrued income | 490/1 | €1,472 | €3,460 | +€1,988 | +135% |
| Total equity and liabilities | 10/49 | €214,112 | €249,392 | +€35,280 | +16.5% |
| Equity | 10/15 | €31,648 | €22,641 | -€9,007 | -28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,200 | €38,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €36,340 | €36,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,151 | -€34,158 | -€9,007 | -35.8% |
| Provisions and deferred taxes | 16 | €99,410 | €96,912 | -€2,498 | -2.5% |
| Provisions for liabilities and charges | 160/5 | €99,410 | €96,912 | -€2,498 | -2.5% |
| Environmental obligations | 163 | €99,410 | €96,912 | -€2,498 | -2.5% |
| Amounts payable | 17/49 | €83,054 | €129,839 | +€46,785 | +56.3% |
| Amounts payable after more than one year | 17 | €27,321 | €15,177 | -€12,144 | -44.4% |
| Financial debts | 170/4 | €27,321 | €15,177 | -€12,144 | -44.4% |
| Amounts payable within one year | 42/48 | €55,733 | €114,662 | +€58,929 | +106% |
| Current portion of amounts payable after more than one year | 42 | €11,355 | €11,144 | -€211 | -1.9% |
| Trade debts | 44 | €23,263 | €51,318 | +€28,054 | +121% |
| Suppliers | 440/4 | €23,263 | €51,318 | +€28,054 | +121% |
| Advances received on contracts in progress | 46 | - | €605 | +€605 | |
| Taxes, remuneration and social security | 45 | €21,114 | €51,595 | +€30,481 | +144% |
| Taxes | 450/3 | €20,614 | €38,394 | +€17,779 | +86.2% |
| Remuneration and social security | 454/9 | €500 | €13,202 | +€12,702 | +2,542% |
| Non-recurring operating income | 76A | - | €319 | +€319 | |
| Remuneration, social security and pensions | 62 | €103,336 | €116,105 | +€12,769 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,017 | €10,408 | +€391 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,929 | +€7,929 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,498 | -€2,498 | = | 0.0% |
| Other operating charges | 640/8 | €2,326 | €3,182 | +€856 | +36.8% |
| Non-recurring operating charges | 66A | - | €227 | +€227 | |
| Gross operating margin | 9900 | €131,552 | €138,810 | +€7,257 | +5.5% |
| Operating profit (loss) | 9901 | €18,372 | €3,458 | -€14,914 | -81.2% |
| Financial income | 75/76B | €903 | €4,340 | +€3,437 | +380% |
| Recurring financial income | 75 | €903 | €4,340 | +€3,437 | +380% |
| Financial charges | 65/66B | €15,419 | €14,927 | -€492 | -3.2% |
| Recurring financial charges | 65 | €15,419 | €14,927 | -€492 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €3,856 | -€7,130 | -€10,986 | |
| Income taxes | 67/77 | €3,333 | €1,877 | -€1,455 | -43.7% |
| Profit (loss) for the period | 9904 | €523 | -€9,007 | -€9,530 | |
| Profit (loss) for the period to be appropriated | 9905 | €523 | -€9,007 | -€9,530 |
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.