COFINAS: 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.
COFINAS
Largest movements
- Intangible fixed assets -€52,000
down €52,000 (-25.0%), from €208,000 to €156,000
- Cash -€5,382
down €5,382 (-6.4%), from €84,292 to €78,910
mainly Other debts (-€80,098) and Tax, wage and social debts (-€8,340)
- Other debts -€80,098
down €80,098 (-63.7%), from €125,822 to €45,725
- Reserves +€27,718
up €27,718 (+20.2%), from €136,959 to €164,677
of which Non-distributable reserves: +€27,718
- Tax, wage and social debts -€8,340
down €8,340 (-50.7%), from €16,456 to €8,115
of which Taxes: -€12,524
- Gross operating margin -€39,412
down €39,412 (-20.2%), from €194,974 to €155,562
- Taxes -€9,752
down €9,752 (-35.0%), from €27,885 to €18,133
- Financial charges -€8,713
down €8,713 (-58.0%), from €15,019 to €6,305
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 | €306,013 | €248,206 | -€57,806 | -18.9% |
| Fixed assets | 21/28 | €208,883 | €156,254 | -€52,630 | -25.2% |
| Intangible fixed assets | 21 | €208,000 | €156,000 | -€52,000 | -25.0% |
| Tangible fixed assets | 22/27 | €883 | €254 | -€630 | -71.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €883 | €254 | -€630 | -71.3% |
| Current assets | 29/58 | €97,129 | €91,953 | -€5,177 | -5.3% |
| Amounts receivable within one year | 40/41 | €12,777 | €12,354 | -€423 | -3.3% |
| Trade receivables | 40 | €12,777 | €12,354 | -€423 | -3.3% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €84,292 | €78,910 | -€5,382 | -6.4% |
| Deferred charges and accrued income | 490/1 | €60 | €689 | +€628 | +1,041% |
| Total equity and liabilities | 10/49 | €306,013 | €248,206 | -€57,806 | -18.9% |
| Equity | 10/15 | €158,738 | €186,456 | +€27,718 | +17.5% |
| Contributions | 10/11 | €6,355 | €6,355 | = | 0.0% |
| Reserves | 13 | €136,959 | €164,677 | +€27,718 | +20.2% |
| Non-distributable reserves | 130/1 | €131,352 | €159,070 | +€27,718 | +21.1% |
| Reserves not available under the articles | 1311 | €131,352 | €159,070 | +€27,718 | +21.1% |
| Distributable reserves | 133 | €5,607 | €5,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,424 | €15,424 | = | 0.0% |
| Amounts payable | 17/49 | €147,275 | €61,750 | -€85,524 | -58.1% |
| Amounts payable within one year | 42/48 | €142,323 | €55,099 | -€87,225 | -61.3% |
| Trade debts | 44 | €45 | €1,258 | +€1,213 | +2,698% |
| Suppliers | 440/4 | €45 | €1,258 | +€1,213 | +2,698% |
| Taxes, remuneration and social security | 45 | €16,456 | €8,115 | -€8,340 | -50.7% |
| Taxes | 450/3 | €14,757 | €2,233 | -€12,524 | -84.9% |
| Remuneration and social security | 454/9 | €1,699 | €5,883 | +€4,184 | +246% |
| Other amounts payable | 47/48 | €125,822 | €45,725 | -€80,098 | -63.7% |
| Accrued charges and deferred income | 492/3 | €4,952 | €6,652 | +€1,700 | +34.3% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €43,285 | €43,292 | +€7 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,630 | €52,630 | = | 0.0% |
| Other operating charges | 640/8 | €49 | €50 | +€2 | +3.2% |
| Gross operating margin | 9900 | €194,974 | €155,562 | -€39,412 | -20.2% |
| Operating profit (loss) | 9901 | €99,011 | €59,590 | -€39,421 | -39.8% |
| Financial income | 75/76B | €326 | €566 | +€240 | +73.7% |
| Recurring financial income | 75 | €326 | €566 | +€240 | +73.7% |
| Financial charges | 65/66B | €15,019 | €6,305 | -€8,713 | -58.0% |
| Recurring financial charges | 65 | €15,019 | €6,305 | -€8,713 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €84,318 | €53,851 | -€30,467 | -36.1% |
| Income taxes | 67/77 | €27,885 | €18,133 | -€9,752 | -35.0% |
| Profit (loss) for the period | 9904 | €56,433 | €35,718 | -€20,715 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,433 | €35,718 | -€20,715 | -36.7% |
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 28 October 2026 via checked.be.