COFICOS: 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.
COFICOS
Largest movements
- Cash -€54,227
down €54,227 (-30.4%), from €178,129 to €123,902
mainly Receivables within one year (-€44,304) and Trade debts (-€20,130)
- Receivables within one year +€44,304
up €44,304 (+72.6%), from €60,994 to €105,299
of which Trade receivables: +€38,476
- Tangible fixed assets +€3,856
up €3,856 (+17.1%), from €22,558 to €26,414
- Trade debts -€20,130
down €20,130 (-6.8%), from €296,373 to €276,242
- Profit (loss) carried forward +€19,172
up €19,172 (+220.6%), from €8,690 to €27,862
- Current portion of long-term debt -€4,453
no longer reported in 2025 (was €4,453)
- Gross operating margin +€20,599
up €20,599 (+18.4%), from €112,252 to €132,851
- Staff costs -€6,805
down €6,805 (-6.6%), from €103,477 to €96,672
- Depreciation +€4,915
up €4,915 (+423.3%), from €1,161 to €6,076
- Other operating charges +€2,489
up €2,489 (+166.2%), from €1,498 to €3,987
- Financial charges -€2,431
down €2,431 (-50.4%), from €4,825 to €2,395
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 | €366,918 | €358,483 | -€8,435 | -2.3% |
| Fixed assets | 21/28 | €22,991 | €26,414 | +€3,424 | +14.9% |
| Intangible fixed assets | 21 | €433 | - | -€433 | |
| Tangible fixed assets | 22/27 | €22,558 | €26,414 | +€3,856 | +17.1% |
| Furniture and vehicles | 24 | €22,558 | €26,414 | +€3,856 | +17.1% |
| Current assets | 29/58 | €343,927 | €332,068 | -€11,859 | -3.4% |
| Stocks and contracts in progress | 3 | €104,026 | €102,868 | -€1,158 | -1.1% |
| Stocks | 30/36 | €104,026 | €102,868 | -€1,158 | -1.1% |
| Amounts receivable within one year | 40/41 | €60,994 | €105,299 | +€44,304 | +72.6% |
| Trade receivables | 40 | €45,643 | €84,119 | +€38,476 | +84.3% |
| Other amounts receivable | 41 | €15,352 | €21,180 | +€5,828 | +38.0% |
| Cash at bank and in hand | 54/58 | €178,129 | €123,902 | -€54,227 | -30.4% |
| Deferred charges and accrued income | 490/1 | €778 | - | -€778 | |
| Total equity and liabilities | 10/49 | €366,918 | €358,483 | -€8,435 | -2.3% |
| Equity | 10/15 | €27,290 | €46,462 | +€19,172 | +70.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,690 | €27,862 | +€19,172 | +220.6% |
| Amounts payable | 17/49 | €339,628 | €312,021 | -€27,607 | -8.1% |
| Amounts payable within one year | 42/48 | €339,628 | €312,021 | -€27,607 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €4,453 | - | -€4,453 | |
| Trade debts | 44 | €296,373 | €276,242 | -€20,130 | -6.8% |
| Suppliers | 440/4 | €296,373 | €276,242 | -€20,130 | -6.8% |
| Taxes, remuneration and social security | 45 | €38,803 | €35,779 | -€3,024 | -7.8% |
| Taxes | 450/3 | €19,435 | €20,024 | +€589 | +3.0% |
| Remuneration and social security | 454/9 | €19,368 | €15,755 | -€3,613 | -18.7% |
| Remuneration, social security and pensions | 62 | €103,477 | €96,672 | -€6,805 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,161 | €6,076 | +€4,915 | +423.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,214 | €2,455 | +€241 | +10.9% |
| Other operating charges | 640/8 | €1,498 | €3,987 | +€2,489 | +166.2% |
| Gross operating margin | 9900 | €112,252 | €132,851 | +€20,599 | +18.4% |
| Operating profit (loss) | 9901 | €3,902 | €23,662 | +€19,760 | +506.4% |
| Financial income | 75/76B | €350 | €131 | -€219 | -62.5% |
| Recurring financial income | 75 | €350 | €131 | -€219 | -62.5% |
| Financial charges | 65/66B | €4,825 | €2,395 | -€2,431 | -50.4% |
| Recurring financial charges | 65 | €4,825 | €2,395 | -€2,431 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | -€573 | €21,399 | +€21,972 | |
| Income taxes | 67/77 | €194 | €2,227 | +€2,033 | +1047.6% |
| Profit (loss) for the period | 9904 | -€767 | €19,172 | +€19,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€767 | €19,172 | +€19,939 |
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.