COFIGESTION: 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
COFIGESTION
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€155,276
2024 · €196,485-€41,209
Equity
€15.3m
2024 · €15.1m+€155,276
Cash
€587,083
2024 · €556,930+€30,152
Balance sheet total
€21.8m
2024 · €22.4m-€563,760
Largest movements
Assets
- Financial fixed assets -€485,774
down €485,774 (-3.3%), from €14.5m to €14.1m
Equity and liabilities
- Debts after one year -€5.0m
down €5.0m (-94.6%), from €5.3m to €285,870
- Current portion of long-term debt +€5.0m
up €5.0m (+30,305%), from €16,501 to €5.0m
- Accrued charges and deferred income -€589,502
down €589,502 (-46.1%), from €1.3m to €688,757
Income statement
- Financial income -€453,904
down €453,904 (-55.6%), from €816,325 to €362,421
- Financial charges -€352,096
down €352,096 (-77.0%), from €457,320 to €105,224
of which Financial charges: -€309,520
- Taxes -€30,949
down €30,949 (-40.2%), from €77,025 to €46,077
- Gross operating margin +€18,226
up €18,226 (+31.8%), from -€57,276 to -€39,050
- Depreciation -€16,505
no longer reported in 2025 (was €16,505)
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
€196,485
Gross operating margin
+€18,226
Staff costs
-€503
Depreciation
+€16,505
Write-downs
-€6,159
Other operating charges
+€2,724
Other operating items
-€1,143
Financial income
-€453,904
Financial charges
+€352,096
Taxes
+€30,949
Result 2025
€155,276
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
-€474,347
Investment
+€521,397
Financing
-€16,898
Cash 2024
€556,930
From operations (derived)
-€474,347
Net result for the year
+€155,276
Receivables within one year
+€27,136
Deferred charges and accrued income
+€45,379
Trade debts
+€3,044
Tax, wage and social debts
-€33,130
Other debts
-€82,550
Accrued charges and deferred income
-€589,502
Investment (derived)
+€521,397
Investment in fixed assets (net)
+€486,917
Current investments
+€34,480
Financing
-€16,898
Debts after one year
-€5.0m
Current portion of long-term debt
+€5.0m
Short-term financial debts
-€397
Cash 2025
€587,083
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,379,070 | €21,815,310 | -€563,760 | -2.5% |
| Fixed assets | 21/28 | €14,815,837 | €14,328,921 | -€486,917 | -3.3% |
| Tangible fixed assets | 22/27 | €269,944 | €268,801 | -€1,143 | -0.4% |
| Land and buildings | 22 | €233,318 | €233,318 | = | 0.0% |
| Furniture and vehicles | 24 | €1,143 | - | -€1,143 | |
| Leasing and similar rights | 25 | €35,483 | €35,483 | = | 0.0% |
| Financial fixed assets | 28 | €14,545,893 | €14,060,120 | -€485,774 | -3.3% |
| Current assets | 29/58 | €7,563,232 | €7,486,389 | -€76,843 | -1.0% |
| Amounts receivable within one year | 40/41 | €234,164 | €207,029 | -€27,136 | -11.6% |
| Trade receivables | 40 | €66,984 | €65,736 | -€1,248 | -1.9% |
| Other amounts receivable | 41 | €167,180 | €141,293 | -€25,888 | -15.5% |
| Current investments | 50/53 | €4,555,071 | €4,520,591 | -€34,480 | -0.8% |
| Cash at bank and in hand | 54/58 | €556,930 | €587,083 | +€30,152 | +5.4% |
| Deferred charges and accrued income | 490/1 | €2,217,066 | €2,171,687 | -€45,379 | -2.0% |
| Total equity and liabilities | 10/49 | €22,379,070 | €21,815,310 | -€563,760 | -2.5% |
| Equity | 10/15 | €15,116,955 | €15,272,230 | +€155,276 | +1.0% |
| Contributions | 10/11 | €4,732,800 | €4,732,800 | = | 0.0% |
| Capital | 10 | €4,732,800 | €4,732,800 | = | 0.0% |
| Issued capital | 100 | €4,732,800 | €4,732,800 | = | 0.0% |
| Reserves | 13 | €8,373,280 | €8,373,280 | = | 0.0% |
| Non-distributable reserves | 130/1 | €473,280 | €473,280 | = | 0.0% |
| Legal reserve | 130 | €473,280 | €473,280 | = | 0.0% |
| Distributable reserves | 133 | €7,900,000 | €7,900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,010,875 | €2,166,150 | +€155,276 | +7.7% |
| Amounts payable | 17/49 | €7,262,115 | €6,543,079 | -€719,036 | -9.9% |
| Amounts payable after more than one year | 17 | €5,303,093 | €285,870 | -€5.0m | -94.6% |
| Financial debts | 170/4 | €5,303,093 | €285,870 | -€5.0m | -94.6% |
| Amounts payable within one year | 42/48 | €680,763 | €5,568,452 | +€4.9m | +718% |
| Current portion of amounts payable after more than one year | 42 | €16,501 | €5,017,222 | +€5.0m | +30,305% |
| Financial debts | 43 | €397 | - | -€397 | |
| Credit institutions | 430/8 | €397 | - | -€397 | |
| Trade debts | 44 | €46,294 | €49,339 | +€3,044 | +6.6% |
| Suppliers | 440/4 | €46,294 | €49,339 | +€3,044 | +6.6% |
| Taxes, remuneration and social security | 45 | €35,849 | €2,720 | -€33,130 | -92.4% |
| Taxes | 450/3 | €34,505 | €1,327 | -€33,178 | -96.2% |
| Remuneration and social security | 454/9 | €1,344 | €1,392 | +€48 | +3.6% |
| Other amounts payable | 47/48 | €581,722 | €499,172 | -€82,550 | -14.2% |
| Accrued charges and deferred income | 492/3 | €1,278,259 | €688,757 | -€589,502 | -46.1% |
| Remuneration, social security and pensions | 62 | €10,677 | €11,180 | +€503 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,505 | - | -€16,505 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,159 | - | +€6,159 | |
| Other operating charges | 640/8 | €7,196 | €4,472 | -€2,724 | -37.8% |
| Non-recurring operating charges | 66A | - | €1,143 | +€1,143 | |
| Gross operating margin | 9900 | -€57,276 | -€39,050 | +€18,226 | +31.8% |
| Operating profit (loss) | 9901 | -€85,495 | -€55,845 | +€29,650 | +34.7% |
| Financial income | 75/76B | €816,325 | €362,421 | -€453,904 | -55.6% |
| Recurring financial income | 75 | €816,325 | €362,421 | -€453,904 | -55.6% |
| Financial charges | 65/66B | €457,320 | €105,224 | -€352,096 | -77.0% |
| Recurring financial charges | 65 | €414,744 | €105,224 | -€309,520 | -74.6% |
| Non-recurring financial charges | 66B | €42,577 | - | -€42,577 | |
| Profit (loss) for the period before taxes | 9903 | €273,510 | €201,352 | -€72,158 | -26.4% |
| Income taxes | 67/77 | €77,025 | €46,077 | -€30,949 | -40.2% |
| Profit (loss) for the period | 9904 | €196,485 | €155,276 | -€41,209 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €196,485 | €155,276 | -€41,209 | -21.0% |
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.