COFIM: 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.
COFIM
Largest movements
- Receivables within one year +€84,307
up €84,307 (+13.6%), from €620,023 to €704,330
of which Other amounts receivable: +€99,118
- Cash +€24,273
up €24,273 (+19.1%), from €127,284 to €151,557
mainly Net result for the year (+€193,735) and Depreciation (+€67,402)
- Tangible fixed assets -€18,045
down €18,045 (-2.0%), from €883,271 to €865,226
of which Land and buildings: -€10,034
- Reserves +€100,000
up €100,000 (+239%), from €41,860 to €141,860
of which Distributable reserves: +€100,000
- Profit (loss) carried forward +€93,735
up €93,735 (+21.0%), from €445,834 to €539,569
- Advances received -€77,500
down €77,500 (-34.0%), from €228,230 to €150,730
- Debts after one year -€26,904
down €26,904 (-3.6%), from €747,007 to €720,103
- Gross operating margin +€217,402
up €217,402 (+278%), from €78,133 to €295,535
- Taxes -€18,865
down €18,865 (-65.0%), from €29,004 to €10,139
- Depreciation +€13,276
up €13,276 (+24.5%), from €54,126 to €67,402
- Financial charges -€6,465
down €6,465 (-13.6%), from €47,644 to €41,179
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 | €1,635,908 | €1,726,305 | +€90,397 | +5.5% |
| Fixed assets | 21/28 | €885,015 | €866,970 | -€18,045 | -2.0% |
| Tangible fixed assets | 22/27 | €883,271 | €865,226 | -€18,045 | -2.0% |
| Land and buildings | 22 | €770,391 | €760,357 | -€10,034 | -1.3% |
| Plant, machinery and equipment | 23 | €82,870 | €76,222 | -€6,648 | -8.0% |
| Furniture and vehicles | 24 | €3,110 | €1,747 | -€1,363 | -43.8% |
| Other tangible fixed assets | 26 | €26,900 | €26,900 | = | 0.0% |
| Financial fixed assets | 28 | €1,744 | €1,744 | = | 0.0% |
| Current assets | 29/58 | €750,893 | €859,335 | +€108,442 | +14.4% |
| Amounts receivable within one year | 40/41 | €620,023 | €704,330 | +€84,307 | +13.6% |
| Trade receivables | 40 | €47,774 | €32,963 | -€14,811 | -31.0% |
| Other amounts receivable | 41 | €572,249 | €671,367 | +€99,118 | +17.3% |
| Cash at bank and in hand | 54/58 | €127,284 | €151,557 | +€24,273 | +19.1% |
| Deferred charges and accrued income | 490/1 | €3,586 | €3,448 | -€138 | -3.8% |
| Total equity and liabilities | 10/49 | €1,635,908 | €1,726,305 | +€90,397 | +5.5% |
| Equity | 10/15 | €506,294 | €700,029 | +€193,735 | +38.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,860 | €141,860 | +€100,000 | +239% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €140,000 | +€100,000 | +250% |
| Profit (loss) carried forward | 14 | €445,834 | €539,569 | +€93,735 | +21.0% |
| Amounts payable | 17/49 | €1,129,614 | €1,026,276 | -€103,338 | -9.1% |
| Amounts payable after more than one year | 17 | €747,007 | €720,103 | -€26,904 | -3.6% |
| Financial debts | 170/4 | €747,007 | €720,103 | -€26,904 | -3.6% |
| Amounts payable within one year | 42/48 | €382,607 | €306,173 | -€76,434 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €23,959 | €35,266 | +€11,307 | +47.2% |
| Trade debts | 44 | €41,072 | €31,489 | -€9,583 | -23.3% |
| Suppliers | 440/4 | €41,072 | €31,489 | -€9,583 | -23.3% |
| Advances received on contracts in progress | 46 | €228,230 | €150,730 | -€77,500 | -34.0% |
| Taxes, remuneration and social security | 45 | €41,846 | €48,688 | +€6,842 | +16.4% |
| Taxes | 450/3 | €41,746 | €48,688 | +€6,942 | +16.6% |
| Remuneration and social security | 454/9 | €100 | - | -€100 | |
| Other amounts payable | 47/48 | €47,500 | €40,000 | -€7,500 | -15.8% |
| Remuneration, social security and pensions | 62 | €96 | €129 | +€33 | +34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,126 | €67,402 | +€13,276 | +24.5% |
| Other operating charges | 640/8 | €3,248 | €4,626 | +€1,378 | +42.4% |
| Non-recurring operating charges | 66A | - | €12,218 | +€12,218 | |
| Gross operating margin | 9900 | €78,133 | €295,535 | +€217,402 | +278% |
| Operating profit (loss) | 9901 | €20,663 | €211,160 | +€190,497 | +922% |
| Financial income | 75/76B | €32,579 | €33,893 | +€1,314 | +4.0% |
| Recurring financial income | 75 | €32,579 | €33,893 | +€1,314 | +4.0% |
| Financial charges | 65/66B | €47,644 | €41,179 | -€6,465 | -13.6% |
| Recurring financial charges | 65 | €47,644 | €41,179 | -€6,465 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €5,598 | €203,874 | +€198,276 | +3,542% |
| Income taxes | 67/77 | €29,004 | €10,139 | -€18,865 | -65.0% |
| Profit (loss) for the period | 9904 | -€23,406 | €193,735 | +€217,141 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,406 | €193,735 | +€217,141 |
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 27 October 2026 via checked.be.