COFINCO: what changed
Two fiscal 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.
COFINCO
Largest movements
- Receivables after one year +€996,700
new in 2025: €996,700
- Financial fixed assets -€298,898
down €298,898 (-99.1%), from €301,528 to €2,630
- Receivables within one year -€295,592
down €295,592 (-67.3%), from €439,356 to €143,764
of which Other amounts receivable: -€215,888
- Tangible fixed assets -€223,659
down €223,659 (-21.1%), from €1.1m to €838,706
of which Land and buildings: -€224,527
- Cash -€171,643
down €171,643 (-31.6%), from €542,394 to €370,751
mainly Receivables after one year (-€996,700) and Debts after one year (-€232,254)
- Debts after one year -€232,254
down €232,254 (-27.7%), from €838,806 to €606,552
- Reserves +€166,260
up €166,260 (+7.4%), from €2.2m to €2.4m
of which Distributable reserves: +€166,260
- Gross operating margin -€441,385
down €441,385 (-45.1%), from €979,440 to €538,055
- Taxes -€154,745
down €154,745 (-57.5%), from €269,121 to €114,376
- Staff costs +€51,750
up €51,750 (+51.8%), from €99,863 to €151,613
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.
Cash bridge derived
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 | €3,333,873 | €3,236,694 | -€97,179 | -2.9% |
| Fixed assets | 21/28 | €1,363,892 | €841,336 | -€522,556 | -38.3% |
| Tangible fixed assets | 22/27 | €1,062,364 | €838,706 | -€223,659 | -21.1% |
| Land and buildings | 22 | €1,057,669 | €833,143 | -€224,527 | -21.2% |
| Furniture and vehicles | 24 | - | €1,555 | +€1,555 | |
| Other tangible fixed assets | 26 | €4,695 | €4,008 | -€687 | -14.6% |
| Financial fixed assets | 28 | €301,528 | €2,630 | -€298,898 | -99.1% |
| Current assets | 29/58 | €1,969,981 | €2,395,358 | +€425,378 | +21.6% |
| Amounts receivable after more than one year | 29 | - | €996,700 | +€996,700 | |
| Other amounts receivable | 291 | - | €996,700 | +€996,700 | |
| Amounts receivable within one year | 40/41 | €439,356 | €143,764 | -€295,592 | -67.3% |
| Trade receivables | 40 | €212,568 | €132,864 | -€79,704 | -37.5% |
| Other amounts receivable | 41 | €226,788 | €10,900 | -€215,888 | -95.2% |
| Current investments | 50/53 | €950,000 | €857,967 | -€92,033 | -9.7% |
| Cash at bank and in hand | 54/58 | €542,394 | €370,751 | -€171,643 | -31.6% |
| Deferred charges and accrued income | 490/1 | €38,231 | €26,176 | -€12,055 | -31.5% |
| Total equity and liabilities | 10/49 | €3,333,873 | €3,236,694 | -€97,179 | -2.9% |
| Equity | 10/15 | €2,378,375 | €2,521,644 | +€143,269 | +6.0% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Capital | 10 | €111,552 | €111,552 | = | 0.0% |
| Issued capital | 100 | €111,552 | €111,552 | = | 0.0% |
| Reserves | 13 | €2,243,425 | €2,409,685 | +€166,260 | +7.4% |
| Non-distributable reserves | 130/1 | €11,155 | €11,155 | = | 0.0% |
| Legal reserve | 130 | €11,155 | €11,155 | = | 0.0% |
| Distributable reserves | 133 | €2,232,270 | €2,398,530 | +€166,260 | +7.4% |
| Profit (loss) carried forward | 14 | €23,397 | €407 | -€22,991 | -98.3% |
| Amounts payable | 17/49 | €955,498 | €715,050 | -€240,448 | -25.2% |
| Amounts payable after more than one year | 17 | €838,806 | €606,552 | -€232,254 | -27.7% |
| Financial debts | 170/4 | €838,806 | €606,552 | -€232,254 | -27.7% |
| Amounts payable within one year | 42/48 | €102,071 | €75,341 | -€26,730 | -26.2% |
| Trade debts | 44 | €25,760 | €18,828 | -€6,932 | -26.9% |
| Suppliers | 440/4 | €25,760 | €18,828 | -€6,932 | -26.9% |
| Taxes, remuneration and social security | 45 | €69,875 | €54,938 | -€14,937 | -21.4% |
| Taxes | 450/3 | €48,848 | €28,465 | -€20,383 | -41.7% |
| Remuneration and social security | 454/9 | €21,027 | €26,473 | +€5,446 | +25.9% |
| Other amounts payable | 47/48 | €6,436 | €1,575 | -€4,862 | -75.5% |
| Accrued charges and deferred income | 492/3 | €14,621 | €33,157 | +€18,536 | +126.8% |
| Non-recurring operating income | 76A | - | €207,055 | +€207,055 | |
| Remuneration, social security and pensions | 62 | €99,863 | €151,613 | +€51,750 | +51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,152 | €28,834 | -€8,319 | -22.4% |
| Other operating charges | 640/8 | €14,591 | €13,885 | -€707 | -4.8% |
| Non-recurring operating charges | 66A | - | €3,842 | +€3,842 | |
| Gross operating margin | 9900 | €979,440 | €538,055 | -€441,385 | -45.1% |
| Operating profit (loss) | 9901 | €827,833 | €339,881 | -€487,952 | -58.9% |
| Financial income | 75/76B | €46,060 | €36,353 | -€9,707 | -21.1% |
| Recurring financial income | 75 | €46,060 | €36,353 | -€9,707 | -21.1% |
| Financial charges | 65/66B | €41,453 | €35,098 | -€6,355 | -15.3% |
| Recurring financial charges | 65 | €41,453 | €35,098 | -€6,355 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €832,439 | €341,135 | -€491,304 | -59.0% |
| Income taxes | 67/77 | €269,121 | €114,376 | -€154,745 | -57.5% |
| Profit (loss) for the period | 9904 | €563,318 | €226,759 | -€336,559 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €563,318 | €226,759 | -€336,559 | -59.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.