COFINPAR: 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.
COFINPAR
Largest movements
- Receivables within one year +€353,407
up €353,407 (+74.3%), from €475,825 to €829,232
of which Trade receivables: +€335,781
- Tangible fixed assets -€30,717
down €30,717 (-85.7%), from €35,854 to €5,137
- Deferred charges and accrued income +€16,443
up €16,443 (+348.1%), from €4,724 to €21,167
- Other debts +€342,172
up €342,172 (+91.0%), from €376,015 to €718,187
- Tax, wage and social debts -€11,038
down €11,038 (-41.3%), from €26,730 to €15,692
of which Remuneration and social security: -€11,038
- Gross operating margin -€39,911
down €39,911 (-10.0%), from €397,653 to €357,743
- Depreciation -€26,043
down €26,043 (-89.4%), from €29,135 to €3,092
- Taxes -€17,957
down €17,957 (-76.7%), from €23,399 to €5,442
- Staff costs -€10,878
down €10,878 (-4.0%), from €271,416 to €260,538
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €525,525 | €864,658 | +€339,133 | +64.5% |
| Fixed assets | 21/28 | €44,976 | €14,259 | -€30,717 | -68.3% |
| Tangible fixed assets | 22/27 | €35,854 | €5,137 | -€30,717 | -85.7% |
| Furniture and vehicles | 24 | €35,854 | €5,137 | -€30,717 | -85.7% |
| Financial fixed assets | 28 | €9,122 | €9,122 | = | 0.0% |
| Current assets | 29/58 | €480,549 | €850,399 | +€369,850 | +77.0% |
| Amounts receivable within one year | 40/41 | €475,825 | €829,232 | +€353,407 | +74.3% |
| Trade receivables | 40 | €445,939 | €781,721 | +€335,781 | +75.3% |
| Other amounts receivable | 41 | €29,886 | €47,512 | +€17,625 | +59.0% |
| Deferred charges and accrued income | 490/1 | €4,724 | €21,167 | +€16,443 | +348.1% |
| Total equity and liabilities | 10/49 | €525,525 | €864,658 | +€339,133 | +64.5% |
| Equity | 10/15 | €63,087 | €59,432 | -€3,656 | -5.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,087 | €37,432 | -€3,656 | -8.9% |
| Amounts payable | 17/49 | €462,438 | €805,226 | +€342,788 | +74.1% |
| Amounts payable within one year | 42/48 | €451,666 | €787,812 | +€336,145 | +74.4% |
| Financial debts | 43 | €638 | €0 | -€638 | -100.0% |
| Credit institutions | 430/8 | €102 | €0 | -€102 | -100.0% |
| Other loans | 439 | €536 | €0 | -€536 | -100.0% |
| Trade debts | 44 | €48,283 | €53,933 | +€5,650 | +11.7% |
| Suppliers | 440/4 | €48,283 | €53,933 | +€5,650 | +11.7% |
| Taxes, remuneration and social security | 45 | €26,730 | €15,692 | -€11,038 | -41.3% |
| Taxes | 450/3 | €0 | €0 | = | 0.0% |
| Remuneration and social security | 454/9 | €26,730 | €15,692 | -€11,038 | -41.3% |
| Other amounts payable | 47/48 | €376,015 | €718,187 | +€342,172 | +91.0% |
| Accrued charges and deferred income | 492/3 | €10,772 | €17,414 | +€6,643 | +61.7% |
| Non-recurring operating income | 76A | - | €17,987 | +€17,987 | |
| Remuneration, social security and pensions | 62 | €271,416 | €260,538 | -€10,878 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,135 | €3,092 | -€26,043 | -89.4% |
| Other operating charges | 640/8 | €2,562 | €1,641 | -€921 | -36.0% |
| Non-recurring operating charges | 66A | - | €13,550 | +€13,550 | |
| Gross operating margin | 9900 | €397,653 | €357,743 | -€39,911 | -10.0% |
| Operating profit (loss) | 9901 | €94,541 | €78,922 | -€15,619 | -16.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,745 | €22,336 | -€2,409 | -9.7% |
| Recurring financial charges | 65 | €24,745 | €22,336 | -€2,409 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €69,796 | €56,586 | -€13,210 | -18.9% |
| Income taxes | 67/77 | €23,399 | €5,442 | -€17,957 | -76.7% |
| Profit (loss) for the period | 9904 | €46,396 | €51,144 | +€4,748 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,396 | €51,144 | +€4,748 | +10.2% |
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 5 October 2026 via checked.be.