COFIMAT: 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
COFIMAT
NACE 46.831, Wholesale of construction materials, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,095
2024 · €130,380-€113,285
Equity
€1.9m
2024 · €1.8m+€15,583
Cash
€287,145
2024 · €397,780-€110,635
Balance sheet total
€3.1m
2024 · €2.9m+€249,868
Largest movements
Assets
- Receivables within one year +€306,377
up €306,377 (+364%), from €84,113 to €390,490
of which Other amounts receivable: +€286,223
- Cash -€110,635
down €110,635 (-27.8%), from €397,780 to €287,145
mainly Receivables within one year (-€306,377) and Investment in fixed assets (net) (-€184,687)
Equity and liabilities
- Other debts +€264,228
up €264,228 (+16,100%), from €1,641 to €265,870
Income statement
- Financial income -€100,563
down €100,563 (-97.0%), from €103,667 to €3,104
- Depreciation +€8,331
up €8,331 (+6.7%), from €124,167 to €132,498
- Other operating charges +€6,310
up €6,310 (+23.0%), from €27,466 to €33,776
- Write-downs -€4,024
no longer reported in 2025 (was €4,024)
- Gross operating margin -€3,416
down €3,416 (-1.1%), from €314,839 to €311,423
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
€130,380
Gross operating margin
-€3,416
Staff costs
-€1,082
Depreciation
-€8,331
Write-downs
+€4,024
Other operating charges
-€6,310
Other operating items
-€863
Financial income
-€100,563
Financial charges
+€1,130
Taxes
+€2,126
Result 2025
€17,095
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
+€108,855
Investment
-€184,687
Financing
-€34,803
Cash 2024
€397,780
From operations (derived)
+€108,855
Net result for the year
+€17,095
Depreciation
+€132,498
Receivables within one year
-€306,377
Deferred charges and accrued income
-€1,937
Trade debts
+€161
Tax, wage and social debts
-€5,830
Other debts
+€264,228
Accrued charges and deferred income
+€9,016
Investment (derived)
-€184,687
Investment in fixed assets (net)
-€184,687
Financing
-€34,803
Debts after one year
-€29,211
Current portion of long-term debt
-€4,080
Contributions, distributions and other
-€1,512
Cash 2025
€287,145
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,887,676 | €3,137,544 | +€249,868 | +8.7% |
| Fixed assets | 21/28 | €2,391,190 | €2,443,379 | +€52,189 | +2.2% |
| Tangible fixed assets | 22/27 | €1,779,127 | €1,800,285 | +€21,158 | +1.2% |
| Land and buildings | 22 | €1,445,056 | €1,457,860 | +€12,804 | +0.9% |
| Furniture and vehicles | 24 | €23,140 | €34,469 | +€11,329 | +49.0% |
| Other tangible fixed assets | 26 | €310,931 | €307,956 | -€2,975 | -1.0% |
| Financial fixed assets | 28 | €612,062 | €643,094 | +€31,031 | +5.1% |
| Current assets | 29/58 | €496,486 | €694,165 | +€197,678 | +39.8% |
| Amounts receivable within one year | 40/41 | €84,113 | €390,490 | +€306,377 | +364% |
| Trade receivables | 40 | €75,048 | €95,202 | +€20,154 | +26.9% |
| Other amounts receivable | 41 | €9,065 | €295,288 | +€286,223 | +3,157% |
| Cash at bank and in hand | 54/58 | €397,780 | €287,145 | -€110,635 | -27.8% |
| Deferred charges and accrued income | 490/1 | €14,594 | €16,530 | +€1,937 | +13.3% |
| Total equity and liabilities | 10/49 | €2,887,676 | €3,137,544 | +€249,868 | +8.7% |
| Equity | 10/15 | €1,847,459 | €1,863,042 | +€15,583 | +0.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €18,950 | +€17,095 | +922% |
| Distributable reserves | 133 | €1,855 | €18,950 | +€17,095 | +922% |
| Profit (loss) carried forward | 14 | €1,803,283 | €1,803,283 | = | 0.0% |
| Investment grants | 15 | €23,772 | €22,259 | -€1,512 | -6.4% |
| Amounts payable | 17/49 | €1,040,217 | €1,274,502 | +€234,285 | +22.5% |
| Amounts payable after more than one year | 17 | €840,737 | €811,526 | -€29,211 | -3.5% |
| Financial debts | 170/4 | €837,313 | €809,833 | -€27,481 | -3.3% |
| Other amounts payable | 178/9 | €3,424 | €1,694 | -€1,730 | -50.5% |
| Amounts payable within one year | 42/48 | €199,149 | €453,629 | +€254,480 | +128% |
| Current portion of amounts payable after more than one year | 42 | €124,572 | €120,492 | -€4,080 | -3.3% |
| Trade debts | 44 | €46,192 | €46,353 | +€161 | +0.3% |
| Suppliers | 440/4 | €46,192 | €46,353 | +€161 | +0.3% |
| Taxes, remuneration and social security | 45 | €26,744 | €20,914 | -€5,830 | -21.8% |
| Taxes | 450/3 | €13,288 | €15,167 | +€1,879 | +14.1% |
| Remuneration and social security | 454/9 | €13,456 | €5,747 | -€7,709 | -57.3% |
| Other amounts payable | 47/48 | €1,641 | €265,870 | +€264,228 | +16,100% |
| Accrued charges and deferred income | 492/3 | €330 | €9,347 | +€9,016 | +2,729% |
| Non-recurring operating income | 76A | €986 | €85 | -€901 | -91.4% |
| Remuneration, social security and pensions | 62 | €35,511 | €36,592 | +€1,082 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,167 | €132,498 | +€8,331 | +6.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,024 | - | -€4,024 | |
| Other operating charges | 640/8 | €27,466 | €33,776 | +€6,310 | +23.0% |
| Non-recurring operating charges | 66A | €506 | €1,369 | +€863 | +170% |
| Gross operating margin | 9900 | €314,839 | €311,423 | -€3,416 | -1.1% |
| Operating profit (loss) | 9901 | €123,166 | €107,188 | -€15,977 | -13.0% |
| Financial income | 75/76B | €103,667 | €3,104 | -€100,563 | -97.0% |
| Recurring financial income | 75 | €103,667 | €3,104 | -€100,563 | -97.0% |
| Financial charges | 65/66B | €74,133 | €73,003 | -€1,130 | -1.5% |
| Recurring financial charges | 65 | €30,192 | €29,062 | -€1,130 | -3.7% |
| Non-recurring financial charges | 66B | €43,941 | €43,941 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €152,700 | €37,290 | -€115,410 | -75.6% |
| Income taxes | 67/77 | €22,321 | €20,195 | -€2,126 | -9.5% |
| Profit (loss) for the period | 9904 | €130,380 | €17,095 | -€113,285 | -86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €130,380 | €17,095 | -€113,285 | -86.9% |
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 18 October 2026 via checked.be.