COFIDEC: 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.
COFIDEC
Largest movements
- Financial fixed assets +€955,375
up €955,375 (+34.9%), from €2.7m to €3.7m
of which Affiliated companies: +€1.4m
- Receivables within one year +€609,290
up €609,290 (+73.5%), from €829,411 to €1.4m
of which Other amounts receivable: +€620,029
- Tangible fixed assets -€108,382
down €108,382 (-4.5%), from €2.4m to €2.3m
of which Land and buildings: -€116,066
- Short-term financial debts +€1.4m
new in 2025: €1.4m
- Other debts +€558,463
up €558,463 (+2233.9%), from €25,000 to €583,463
- Reserves -€335,468
down €335,468 (-12.1%), from €2.8m to €2.4m
of which Distributable reserves: -€335,468
- Debts after one year -€179,219
down €179,219 (-22.2%), from €807,094 to €627,875
- Financial charges +€708,501
up €708,501 (+2547.1%), from €27,816 to €736,317
of which Non-recurring financial charges: +€660,000
- Financial income +€300,312
up €300,312 (+159825.5%), from €188 to €300,500
- Services and other goods +€37,109
up €37,109 (+151.9%), from €24,431 to €61,540
- Taxes -€17,970
down €17,970 (-69.2%), from €25,980 to €8,011
- Other operating income +€12,821
up €12,821 (+6.6%), from €194,439 to €207,260
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 | €6,013,106 | €7,471,616 | +€1.5m | +24.3% |
| Fixed assets | 21/28 | €5,131,242 | €5,978,235 | +€846,993 | +16.5% |
| Tangible fixed assets | 22/27 | €2,389,855 | €2,281,473 | -€108,382 | -4.5% |
| Land and buildings | 22 | €2,389,855 | €2,273,789 | -€116,066 | -4.9% |
| Plant, machinery and equipment | 23 | - | €7,684 | +€7,684 | |
| Financial fixed assets | 28 | €2,741,387 | €3,696,762 | +€955,375 | +34.9% |
| Affiliated companies | 280/1 | €2,319,970 | €3,669,970 | +€1.4m | +58.2% |
| Participating interests | 280 | €2,319,970 | €3,669,970 | +€1.4m | +58.2% |
| Companies linked by participating interests | 282/3 | €421,417 | €26,792 | -€394,625 | -93.6% |
| Participating interests | 282 | €421,417 | €26,792 | -€394,625 | -93.6% |
| Current assets | 29/58 | €881,864 | €1,493,381 | +€611,518 | +69.3% |
| Amounts receivable within one year | 40/41 | €829,411 | €1,438,701 | +€609,290 | +73.5% |
| Trade receivables | 40 | €10,738 | - | -€10,738 | |
| Other amounts receivable | 41 | €818,672 | €1,438,701 | +€620,029 | +75.7% |
| Cash at bank and in hand | 54/58 | €37,197 | €47,986 | +€10,789 | +29.0% |
| Deferred charges and accrued income | 490/1 | €15,256 | €6,694 | -€8,562 | -56.1% |
| Total equity and liabilities | 10/49 | €6,013,106 | €7,471,616 | +€1.5m | +24.3% |
| Equity | 10/15 | €4,974,784 | €4,639,316 | -€335,468 | -6.7% |
| Contributions | 10/11 | €2,195,029 | €2,195,029 | = | 0.0% |
| Capital | 10 | €2,195,029 | €2,195,029 | = | 0.0% |
| Issued capital | 100 | €2,195,029 | €2,195,029 | = | 0.0% |
| Reserves | 13 | €2,779,755 | €2,444,287 | -€335,468 | -12.1% |
| Non-distributable reserves | 130/1 | €219,503 | €219,503 | = | 0.0% |
| Legal reserve | 130 | €219,503 | €219,503 | = | 0.0% |
| Distributable reserves | 133 | €2,560,252 | €2,224,784 | -€335,468 | -13.1% |
| Amounts payable | 17/49 | €1,038,322 | €2,832,300 | +€1.8m | +172.8% |
| Amounts payable after more than one year | 17 | €807,094 | €627,875 | -€179,219 | -22.2% |
| Financial debts | 170/4 | €807,094 | €627,875 | -€179,219 | -22.2% |
| Credit institutions | 173 | €807,094 | €627,875 | -€179,219 | -22.2% |
| Amounts payable within one year | 42/48 | €229,060 | €2,191,522 | +€2.0m | +856.7% |
| Current portion of amounts payable after more than one year | 42 | €175,038 | €179,219 | +€4,181 | +2.4% |
| Financial debts | 43 | - | €1,376,500 | +€1.4m | |
| Credit institutions | 430/8 | - | €1,376,500 | +€1.4m | |
| Trade debts | 44 | €253 | €35,783 | +€35,531 | +14071.5% |
| Suppliers | 440/4 | €253 | €35,783 | +€35,531 | +14071.5% |
| Taxes, remuneration and social security | 45 | €28,770 | €16,558 | -€12,212 | -42.4% |
| Taxes | 450/3 | €28,770 | €16,558 | -€12,212 | -42.4% |
| Other amounts payable | 47/48 | €25,000 | €583,463 | +€558,463 | +2233.9% |
| Accrued charges and deferred income | 492/3 | €2,168 | €12,903 | +€10,736 | +495.3% |
| Operating income | 70/76A | €300,819 | €317,090 | +€16,270 | +5.4% |
| Turnover | 70 | €106,380 | €109,829 | +€3,449 | +3.2% |
| Other operating income | 74 | €194,439 | €207,260 | +€12,821 | +6.6% |
| Operating charges | 60/66A | €170,991 | €208,730 | +€37,739 | +22.1% |
| Services and other goods | 61 | €24,431 | €61,540 | +€37,109 | +151.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,246 | €116,071 | -€175 | -0.2% |
| Other operating charges | 640/8 | €30,314 | €31,120 | +€805 | +2.7% |
| Operating profit (loss) | 9901 | €129,828 | €108,359 | -€21,468 | -16.5% |
| Financial income | 75/76B | €188 | €300,500 | +€300,312 | +159825.5% |
| Recurring financial income | 75 | €188 | €300,500 | +€300,312 | +159825.5% |
| Income from financial fixed assets | 750 | - | €300,500 | +€300,500 | |
| Income from current assets | 751 | €188 | - | -€188 | |
| Financial charges | 65/66B | €27,816 | €736,317 | +€708,501 | +2547.1% |
| Recurring financial charges | 65 | €27,816 | €76,317 | +€48,501 | +174.4% |
| Debt charges | 650 | €27,816 | €76,317 | +€48,501 | +174.4% |
| Non-recurring financial charges | 66B | - | €660,000 | +€660,000 | |
| Profit (loss) for the period before taxes | 9903 | €102,200 | -€327,458 | -€429,658 | |
| Income taxes | 67/77 | €25,980 | €8,011 | -€17,970 | -69.2% |
| Taxes | 670/3 | €25,980 | €8,011 | -€17,970 | -69.2% |
| Profit (loss) for the period | 9904 | €76,220 | -€335,468 | -€411,688 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,220 | -€335,468 | -€411,688 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.