Cofiren: 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.
Cofiren
Largest movements
- Receivables within one year -€37,512
down €37,512 (-33.4%), from €112,278 to €74,765
of which Trade receivables: -€36,785
- Cash -€22,399
down €22,399 (-27.6%), from €81,191 to €58,792
mainly Net result for the year (-€28,066) and Debts after one year (-€19,000)
- Deferred charges and accrued income -€5,461
down €5,461 (-96.9%), from €5,634 to €174
- Tangible fixed assets +€2,694
up €2,694 (+97.3%), from €2,770 to €5,465
- Profit (loss) carried forward -€28,066
down €28,066 (-51.7%), from €54,272 to €26,206
- Debts after one year -€19,000
down €19,000 (-27.5%), from €69,000 to €50,000
- Tax, wage and social debts -€10,643
down €10,643 (-59.0%), from €18,044 to €7,401
of which Remuneration and social security: -€13,949
- Trade debts -€5,189
down €5,189 (-19.1%), from €27,120 to €21,931
- Staff costs +€40,986
up €40,986 (+18.7%), from €218,617 to €259,603
- Gross operating margin +€12,447
up €12,447 (+5.6%), from €224,274 to €236,722
- Taxes -€2,723
down €2,723 (-90.9%), from €2,997 to €274
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 | €201,874 | €139,196 | -€62,678 | -31.0% |
| Fixed assets | 21/28 | €2,770 | €5,465 | +€2,694 | +97.3% |
| Tangible fixed assets | 22/27 | €2,770 | €5,465 | +€2,694 | +97.3% |
| Other tangible fixed assets | 26 | €2,770 | €5,465 | +€2,694 | +97.3% |
| Current assets | 29/58 | €199,103 | €133,731 | -€65,372 | -32.8% |
| Amounts receivable within one year | 40/41 | €112,278 | €74,765 | -€37,512 | -33.4% |
| Trade receivables | 40 | €111,551 | €74,765 | -€36,785 | -33.0% |
| Other amounts receivable | 41 | €727 | - | -€727 | |
| Cash at bank and in hand | 54/58 | €81,191 | €58,792 | -€22,399 | -27.6% |
| Deferred charges and accrued income | 490/1 | €5,634 | €174 | -€5,461 | -96.9% |
| Total equity and liabilities | 10/49 | €201,874 | €139,196 | -€62,678 | -31.0% |
| Equity | 10/15 | €87,272 | €59,206 | -€28,066 | -32.2% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,272 | €26,206 | -€28,066 | -51.7% |
| Amounts payable | 17/49 | €114,602 | €79,990 | -€34,611 | -30.2% |
| Amounts payable after more than one year | 17 | €69,000 | €50,000 | -€19,000 | -27.5% |
| Other amounts payable | 178/9 | €69,000 | €50,000 | -€19,000 | -27.5% |
| Amounts payable within one year | 42/48 | €45,495 | €29,897 | -€15,599 | -34.3% |
| Trade debts | 44 | €27,120 | €21,931 | -€5,189 | -19.1% |
| Suppliers | 440/4 | €27,120 | €21,931 | -€5,189 | -19.1% |
| Taxes, remuneration and social security | 45 | €18,044 | €7,401 | -€10,643 | -59.0% |
| Taxes | 450/3 | €4,095 | €7,401 | +€3,306 | +80.7% |
| Remuneration and social security | 454/9 | €13,949 | - | -€13,949 | |
| Other amounts payable | 47/48 | €331 | €564 | +€233 | +70.3% |
| Accrued charges and deferred income | 492/3 | €106 | €93 | -€13 | -12.0% |
| Remuneration, social security and pensions | 62 | €218,617 | €259,603 | +€40,986 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €823 | +€323 | +64.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €401 | +€401 | |
| Other operating charges | 640/8 | €1,230 | €2,613 | +€1,383 | +112.5% |
| Gross operating margin | 9900 | €224,274 | €236,722 | +€12,447 | +5.6% |
| Operating profit (loss) | 9901 | €3,928 | -€26,718 | -€30,645 | |
| Financial charges | 65/66B | €1,390 | €1,075 | -€315 | -22.7% |
| Recurring financial charges | 65 | €1,390 | €1,075 | -€315 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €2,538 | -€27,792 | -€30,330 | |
| Income taxes | 67/77 | €2,997 | €274 | -€2,723 | -90.9% |
| Profit (loss) for the period | 9904 | -€459 | -€28,066 | -€27,607 | -6018.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€459 | -€28,066 | -€27,607 | -6018.0% |
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 4 October 2026 via checked.be.