COFIMAS: 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.
COFIMAS
Largest movements
- Cash +€50,246
up €50,246 (+36.0%), from €139,731 to €189,977
mainly Net result for the year (+€83,335) and Trade debts (+€1,618)
- Current investments +€14,998
up €14,998 (+1.7%), from €879,384 to €894,382
- Reserves +€83,335
up €83,335 (+8.5%), from €975,283 to €1.1m
of which Distributable reserves: +€83,335
- Tax, wage and social debts -€17,664
down €17,664 (-91.5%), from €19,303 to €1,640
- Gross operating margin -€45,369
down €45,369 (-33.9%), from €133,933 to €88,565
- Taxes -€13,356
down €13,356 (-31.6%), from €42,319 to €28,963
- Financial income -€8,044
down €8,044 (-23.7%), from €33,940 to €25,896
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 | €1,033,713 | €1,101,473 | +€67,760 | +6.6% |
| Fixed assets | 21/28 | €620 | €1,832 | +€1,212 | +196% |
| Tangible fixed assets | 22/27 | €620 | €1,832 | +€1,212 | +196% |
| Plant, machinery and equipment | 23 | €620 | €1,832 | +€1,212 | +196% |
| Current assets | 29/58 | €1,033,093 | €1,099,641 | +€66,548 | +6.4% |
| Amounts receivable within one year | 40/41 | €13,978 | €15,282 | +€1,303 | +9.3% |
| Trade receivables | 40 | €2,118 | €11,102 | +€8,984 | +424% |
| Other amounts receivable | 41 | €11,861 | €4,180 | -€7,681 | -64.8% |
| Current investments | 50/53 | €879,384 | €894,382 | +€14,998 | +1.7% |
| Cash at bank and in hand | 54/58 | €139,731 | €189,977 | +€50,246 | +36.0% |
| Total equity and liabilities | 10/49 | €1,033,713 | €1,101,473 | +€67,760 | +6.6% |
| Equity | 10/15 | €1,013,283 | €1,096,618 | +€83,335 | +8.2% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €975,283 | €1,058,618 | +€83,335 | +8.5% |
| Non-distributable reserves | 130/1 | €3,800 | €3,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €971,483 | €1,054,818 | +€83,335 | +8.6% |
| Amounts payable | 17/49 | €20,430 | €4,855 | -€15,575 | -76.2% |
| Amounts payable within one year | 42/48 | €20,430 | €4,855 | -€15,575 | -76.2% |
| Trade debts | 44 | €96 | €1,715 | +€1,618 | +1,678% |
| Suppliers | 440/4 | €96 | €1,715 | +€1,618 | +1,678% |
| Taxes, remuneration and social security | 45 | €19,303 | €1,640 | -€17,664 | -91.5% |
| Taxes | 450/3 | €19,303 | €1,640 | -€17,664 | -91.5% |
| Other amounts payable | 47/48 | €1,030 | €1,501 | +€470 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €865 | €730 | -€134 | -15.5% |
| Other operating charges | 640/8 | €1,152 | €1,118 | -€34 | -2.9% |
| Gross operating margin | 9900 | €133,933 | €88,565 | -€45,369 | -33.9% |
| Operating profit (loss) | 9901 | €131,916 | €86,716 | -€45,201 | -34.3% |
| Financial income | 75/76B | €33,940 | €25,896 | -€8,044 | -23.7% |
| Recurring financial income | 75 | €33,940 | €25,896 | -€8,044 | -23.7% |
| Financial charges | 65/66B | €116 | €314 | +€197 | +169% |
| Recurring financial charges | 65 | €116 | €314 | +€197 | +169% |
| Profit (loss) for the period before taxes | 9903 | €165,740 | €112,298 | -€53,442 | -32.2% |
| Income taxes | 67/77 | €42,319 | €28,963 | -€13,356 | -31.6% |
| Profit (loss) for the period | 9904 | €123,421 | €83,335 | -€40,086 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €123,421 | €83,335 | -€40,086 | -32.5% |
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 13 October 2026 via checked.be.