COFIGES VDM: 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.
COFIGES VDM
Largest movements
- Receivables within one year +€38,174
up €38,174 (+98.4%), from €38,807 to €76,981
of which Trade receivables: +€38,174
- Cash +€21,342
up €21,342 (+40.7%), from €52,478 to €73,819
mainly Trade debts (+€54,305) and Receivables after one year (+€15,310)
- Receivables after one year -€15,310
down €15,310 (-95.7%), from €16,000 to €691
- Deferred charges and accrued income +€2,660
up €2,660 (+42.5%), from €6,260 to €8,920
- Tangible fixed assets -€2,514
down €2,514 (-38.6%), from €6,512 to €3,998
of which Furniture and vehicles: -€1,514
- Trade debts +€54,305
up €54,305 (+2,044%), from €2,657 to €56,961
- Tax, wage and social debts -€10,144
down €10,144 (-68.1%), from €14,886 to €4,742
of which Taxes: -€12,071
- Gross operating margin -€11,402
down €11,402 (-28.5%), from €39,967 to €28,565
- Taxes -€9,098
down €9,098, from €8,045 to -€1,053
- Staff costs +€5,830
up €5,830 (+40.9%), from €14,252 to €20,082
- Depreciation -€1,554
down €1,554 (-38.2%), from €4,068 to €2,514
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 | €183,340 | €228,479 | +€45,139 | +24.6% |
| Fixed assets | 21/28 | €9,505 | €6,991 | -€2,514 | -26.4% |
| Tangible fixed assets | 22/27 | €6,512 | €3,998 | -€2,514 | -38.6% |
| Furniture and vehicles | 24 | €1,514 | - | -€1,514 | |
| Other tangible fixed assets | 26 | €4,998 | €3,998 | -€1,000 | -20.0% |
| Financial fixed assets | 28 | €2,993 | €2,993 | = | 0.0% |
| Current assets | 29/58 | €173,835 | €221,488 | +€47,653 | +27.4% |
| Amounts receivable after more than one year | 29 | €16,000 | €691 | -€15,310 | -95.7% |
| Trade receivables | 290 | €16,000 | €691 | -€15,310 | -95.7% |
| Amounts receivable within one year | 40/41 | €38,807 | €76,981 | +€38,174 | +98.4% |
| Trade receivables | 40 | €38,751 | €76,925 | +€38,174 | +98.5% |
| Other amounts receivable | 41 | €56 | €56 | = | 0.0% |
| Current investments | 50/53 | €60,291 | €61,078 | +€787 | +1.3% |
| Cash at bank and in hand | 54/58 | €52,478 | €73,819 | +€21,342 | +40.7% |
| Deferred charges and accrued income | 490/1 | €6,260 | €8,920 | +€2,660 | +42.5% |
| Total equity and liabilities | 10/49 | €183,340 | €228,479 | +€45,139 | +24.6% |
| Equity | 10/15 | €156,728 | €157,667 | +€939 | +0.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €138,136 | €139,075 | +€939 | +0.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €126,276 | €127,216 | +€939 | +0.7% |
| Amounts payable | 17/49 | €26,613 | €70,812 | +€44,200 | +166% |
| Amounts payable within one year | 42/48 | €26,356 | €70,555 | +€44,200 | +168% |
| Current portion of amounts payable after more than one year | 42 | - | €634 | +€634 | |
| Financial debts | 43 | €563 | - | -€563 | |
| Credit institutions | 430/8 | €563 | - | -€563 | |
| Trade debts | 44 | €2,657 | €56,961 | +€54,305 | +2,044% |
| Suppliers | 440/4 | €2,657 | €56,961 | +€54,305 | +2,044% |
| Advances received on contracts in progress | 46 | - | €600 | +€600 | |
| Taxes, remuneration and social security | 45 | €14,886 | €4,742 | -€10,144 | -68.1% |
| Taxes | 450/3 | €13,573 | €1,501 | -€12,071 | -88.9% |
| Remuneration and social security | 454/9 | €1,313 | €3,241 | +€1,927 | +147% |
| Other amounts payable | 47/48 | €8,251 | €7,618 | -€633 | -7.7% |
| Accrued charges and deferred income | 492/3 | €257 | €257 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €14,252 | €20,082 | +€5,830 | +40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,068 | €2,514 | -€1,554 | -38.2% |
| Other operating charges | 640/8 | €564 | €826 | +€262 | +46.4% |
| Gross operating margin | 9900 | €39,967 | €28,565 | -€11,402 | -28.5% |
| Operating profit (loss) | 9901 | €21,083 | €5,144 | -€15,939 | -75.6% |
| Financial income | 75/76B | €2,660 | €2,661 | +€0 | 0.0% |
| Recurring financial income | 75 | €2,660 | €2,661 | +€0 | 0.0% |
| Financial charges | 65/66B | €1,510 | €1,418 | -€92 | -6.1% |
| Recurring financial charges | 65 | €1,510 | €1,418 | -€92 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €22,233 | €6,386 | -€15,847 | -71.3% |
| Income taxes | 67/77 | €8,045 | -€1,053 | -€9,098 | |
| Profit (loss) for the period | 9904 | €14,188 | €7,439 | -€6,749 | -47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,188 | €7,439 | -€6,749 | -47.6% |
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 25 October 2026 via checked.be.