COFIDIS: 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
COFIDIS
NACE 64.921, Financial service activities, except insurance and pension funding
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€28.3m
2024 · €29.1m-€743,984
Equity
€858.7m
2024 · €830.4m+€28.4m
Cash
€16.4m
2024 · €34.5m-€18.1m
Balance sheet total
€1.66bn
2024 · €1.54bn+€126.5m
Largest movements
Assets
- Receivables after one year +€99.2m
up €99.2m (+10.5%), from €941.7m to €1.04bn
- Receivables within one year +€43.7m
up €43.7m (+8.6%), from €508.5m to €552.2m
of which Trade receivables: +€43.7m
- Cash -€18.1m
down €18.1m (-52.6%), from €34.5m to €16.4m
mainly Receivables after one year (-€99.2m) and Receivables within one year (-€43.7m)
Equity and liabilities
- Current portion of long-term debt +€80.2m
up €80.2m (+70.3%), from €114.0m to €194.2m
- Short-term financial debts +€47.0m
up €47.0m (+38.2%), from €123.0m to €170.0m
- Debts after one year -€30.0m
down €30.0m (-6.9%), from €433.2m to €403.1m
of which Financial debts: -€30.0m
- Reserves +€28.4m
up €28.4m (+7.7%), from €370.4m to €398.8m
of which Distributable reserves: +€26.9m
Income statement
- Financial income +€14.1m
up €14.1m (+9.4%), from €150.5m to €164.6m
- Write-downs +€9.4m
up €9.4m (+317.8%), from €2.9m to €12.3m
- Other operating charges +€6.2m
up €6.2m (+16.7%), from €37.0m to €43.1m
- Services and other goods +€3.9m
up €3.9m (+8.0%), from €49.2m to €53.1m
- Staff costs +€3.5m
up €3.5m (+10.8%), from €32.6m to €36.1m
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
€29.1m
Turnover
+€3.4m
Other operating income
+€2.8m
Services and other goods
-€3.9m
Staff costs
-€3.5m
Depreciation
+€27,432
Write-downs
-€9.4m
Provisions
+€189,132
Other operating charges
-€6.2m
Financial income
+€14.1m
Financial charges
+€2.5m
Taxes
-€840,579
Result 2025
€28.3m
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.
From operations
-€114.8m
Investment
-€464,395
Financing
+€97.2m
Cash 2024
€34.5m
From operations (derived)
-€114.8m
Net result for the year
+€28.3m
Depreciation
+€806,844
Receivables after one year
-€99.2m
Receivables within one year
-€43.7m
Deferred charges and accrued income
-€2.1m
Provisions
-€297,113
Trade debts
-€1.3m
Tax, wage and social debts
+€2.5m
Other debts
+€385,109
Accrued charges and deferred income
-€236,837
Investment (derived)
-€464,395
Investment in fixed assets (net)
-€464,395
Financing
+€97.2m
Debts after one year
-€30.0m
Current portion of long-term debt
+€80.2m
Short-term financial debts
+€47.0m
Contributions, distributions and other
+€21,338
Cash 2025
€16.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,535,982,888 | €1,662,492,845 | +€126.5m | +8.2% |
| Fixed assets | 21/28 | €13,002,497 | €12,660,048 | -€342,449 | -2.6% |
| Intangible fixed assets | 21 | €2,432 | €933 | -€1,499 | -61.6% |
| Tangible fixed assets | 22/27 | €12,754,369 | €12,655,276 | -€99,093 | -0.8% |
| Land and buildings | 22 | €12,414,707 | €12,343,131 | -€71,576 | -0.6% |
| Plant, machinery and equipment | 23 | €88,198 | €78,048 | -€10,150 | -11.5% |
| Furniture and vehicles | 24 | €251,464 | €234,097 | -€17,367 | -6.9% |
| Financial fixed assets | 28 | €245,696 | €3,839 | -€241,857 | -98.4% |
| Affiliated companies | 280/1 | €228,721 | €1 | -€228,720 | -100.0% |
| Participating interests | 280 | €228,721 | €1 | -€228,720 | -100.0% |
| Other financial fixed assets | 284/8 | €16,975 | €3,838 | -€13,137 | -77.4% |
| Amounts receivable and cash guarantees | 285/8 | €16,975 | €3,838 | -€13,137 | -77.4% |
| Current assets | 29/58 | €1,522,980,391 | €1,649,832,797 | +€126.9m | +8.3% |
| Amounts receivable after more than one year | 29 | €941,738,875 | €1,040,900,744 | +€99.2m | +10.5% |
| Trade receivables | 290 | €941,738,875 | €1,040,900,744 | +€99.2m | +10.5% |
| Amounts receivable within one year | 40/41 | €508,494,996 | €552,188,933 | +€43.7m | +8.6% |
| Trade receivables | 40 | €503,812,107 | €547,477,974 | +€43.7m | +8.7% |
| Other amounts receivable | 41 | €4,682,889 | €4,710,959 | +€28,070 | +0.6% |
| Cash at bank and in hand | 54/58 | €34,514,970 | €16,368,791 | -€18.1m | -52.6% |
| Deferred charges and accrued income | 490/1 | €38,231,550 | €40,374,329 | +€2.1m | +5.6% |
| Total equity and liabilities | 10/49 | €1,535,982,888 | €1,662,492,845 | +€126.5m | +8.2% |
| Equity | 10/15 | €830,392,897 | €858,744,549 | +€28.4m | +3.4% |
| Contributions | 10/11 | €459,990,000 | €459,990,000 | = | 0.0% |
| Capital | 10 | €459,990,000 | €459,990,000 | = | 0.0% |
| Issued capital | 100 | €459,990,000 | €459,990,000 | = | 0.0% |
| Reserves | 13 | €370,402,897 | €398,754,549 | +€28.4m | +7.7% |
| Non-distributable reserves | 130/1 | €17,551,018 | €18,966,075 | +€1.4m | +8.1% |
| Legal reserve | 130 | €17,550,989 | €18,966,046 | +€1.4m | +8.1% |
| Other | 1319 | €29 | €29 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,184,740 | €4,235,260 | +€50,520 | +1.2% |
| Distributable reserves | 133 | €348,667,139 | €375,553,214 | +€26.9m | +7.7% |
| Provisions and deferred taxes | 16 | €1,574,769 | €1,277,656 | -€297,113 | -18.9% |
| Provisions for liabilities and charges | 160/5 | €1,574,769 | €1,277,656 | -€297,113 | -18.9% |
| Pensions and similar obligations | 160 | €1,430,611 | €1,253,498 | -€177,113 | -12.4% |
| Other liabilities and charges | 164/5 | €144,158 | €24,158 | -€120,000 | -83.2% |
| Amounts payable | 17/49 | €704,015,222 | €802,470,640 | +€98.5m | +14.0% |
| Amounts payable after more than one year | 17 | €433,156,989 | €403,136,270 | -€30.0m | -6.9% |
| Financial debts | 170/4 | €432,000,000 | €402,000,000 | -€30.0m | -6.9% |
| Credit institutions | 173 | €432,000,000 | €402,000,000 | -€30.0m | -6.9% |
| Trade debts | 175 | €1,156,989 | €1,136,270 | -€20,719 | -1.8% |
| Suppliers | 1750 | €1,156,989 | €1,136,270 | -€20,719 | -1.8% |
| Amounts payable within one year | 42/48 | €265,568,188 | €394,281,162 | +€128.7m | +48.5% |
| Current portion of amounts payable after more than one year | 42 | €114,000,000 | €194,156,989 | +€80.2m | +70.3% |
| Financial debts | 43 | €123,000,000 | €170,000,000 | +€47.0m | +38.2% |
| Credit institutions | 430/8 | €123,000,000 | €170,000,000 | +€47.0m | +38.2% |
| Trade debts | 44 | €13,854,794 | €12,508,481 | -€1.3m | -9.7% |
| Suppliers | 440/4 | €13,854,794 | €12,508,481 | -€1.3m | -9.7% |
| Taxes, remuneration and social security | 45 | €9,787,834 | €12,305,023 | +€2.5m | +25.7% |
| Taxes | 450/3 | €3,442,243 | €5,235,789 | +€1.8m | +52.1% |
| Remuneration and social security | 454/9 | €6,345,591 | €7,069,234 | +€723,643 | +11.4% |
| Other amounts payable | 47/48 | €4,925,560 | €5,310,669 | +€385,109 | +7.8% |
| Accrued charges and deferred income | 492/3 | €5,290,045 | €5,053,208 | -€236,837 | -4.5% |
| Operating income | 70/76A | €43,241,497 | €49,503,128 | +€6.3m | +14.5% |
| Turnover | 70 | €32,091,703 | €35,534,446 | +€3.4m | +10.7% |
| Other operating income | 74 | €11,149,794 | €13,968,682 | +€2.8m | +25.3% |
| Operating charges | 60/66A | €122,435,104 | €145,189,468 | +€22.8m | +18.6% |
| Services and other goods | 61 | €49,168,540 | €53,095,465 | +€3.9m | +8.0% |
| Remuneration, social security and pensions | 62 | €32,631,348 | €36,148,860 | +€3.5m | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €834,276 | €806,844 | -€27,432 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,942,759 | €12,294,069 | +€9.4m | +317.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€107,981 | -€297,113 | -€189,132 | -175.2% |
| Other operating charges | 640/8 | €36,966,162 | €43,141,343 | +€6.2m | +16.7% |
| Operating profit (loss) | 9901 | -€79,193,607 | -€95,686,340 | -€16.5m | -20.8% |
| Financial income | 75/76B | €150,509,170 | €164,584,401 | +€14.1m | +9.4% |
| Recurring financial income | 75 | €150,509,170 | €164,584,401 | +€14.1m | +9.4% |
| Income from current assets | 751 | €138,066,051 | €156,023,823 | +€18.0m | +13.0% |
| Other financial income | 752/9 | €12,443,119 | €8,560,578 | -€3.9m | -31.2% |
| Financial charges | 65/66B | €32,665,734 | €30,151,637 | -€2.5m | -7.7% |
| Recurring financial charges | 65 | €32,665,734 | €30,001,457 | -€2.7m | -8.2% |
| Debt charges | 650 | €23,636,340 | €20,187,614 | -€3.4m | -14.6% |
| Other financial charges | 652/9 | €9,029,394 | €9,813,843 | +€784,449 | +8.7% |
| Non-recurring financial charges | 66B | - | €150,180 | +€150,180 | |
| Profit (loss) for the period before taxes | 9903 | €38,649,829 | €38,746,424 | +€96,595 | +0.2% |
| Income taxes | 67/77 | €9,575,531 | €10,416,110 | +€840,579 | +8.8% |
| Taxes | 670/3 | €9,575,531 | €10,416,110 | +€840,579 | +8.8% |
| Profit (loss) for the period | 9904 | €29,074,298 | €28,330,314 | -€743,984 | -2.6% |
| Transfer from tax-exempt reserves | 789 | €3,090,140 | €968,588 | -€2.1m | -68.7% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,166,668 | €28,301,132 | -€2.9m | -9.2% |
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 12 October 2026 via checked.be.