COFISEAL: 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.
COFISEAL
Largest movements
- Receivables within one year +€115,103
up €115,103 (+3,908%), from €2,946 to €118,049
of which Trade receivables: +€117,792
- Cash -€43,611
down €43,611 (-27.7%), from €157,464 to €113,853
mainly Contributions, distributions and other (-€150,362) and Receivables within one year (-€115,103)
- Tangible fixed assets -€4,612
down €4,612 (-32.4%), from €14,212 to €9,601
- Other debts +€71,523
up €71,523 (+53.1%), from €134,777 to €206,300
- Profit (loss) carried forward -€16,838
no longer reported in 2025 (was €16,838)
- Tax, wage and social debts +€11,547
up €11,547 (+387%), from €2,986 to €14,533
of which Taxes: +€9,239
- Gross operating margin -€5,468
down €5,468 (-2.9%), from €186,569 to €181,101
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 | €177,674 | €242,861 | +€65,187 | +36.7% |
| Fixed assets | 21/28 | €15,212 | €10,601 | -€4,612 | -30.3% |
| Tangible fixed assets | 22/27 | €14,212 | €9,601 | -€4,612 | -32.4% |
| Furniture and vehicles | 24 | €14,212 | €9,601 | -€4,612 | -32.4% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €162,462 | €232,260 | +€69,799 | +43.0% |
| Amounts receivable within one year | 40/41 | €2,946 | €118,049 | +€115,103 | +3,908% |
| Trade receivables | 40 | - | €117,792 | +€117,792 | |
| Other amounts receivable | 41 | €2,946 | €257 | -€2,688 | -91.3% |
| Cash at bank and in hand | 54/58 | €157,464 | €113,853 | -€43,611 | -27.7% |
| Deferred charges and accrued income | 490/1 | €2,052 | €358 | -€1,694 | -82.6% |
| Total equity and liabilities | 10/49 | €177,674 | €242,861 | +€65,187 | +36.7% |
| Equity | 10/15 | €36,783 | €19,945 | -€16,838 | -45.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,345 | €1,345 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,345 | €1,345 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,345 | €1,345 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,838 | - | -€16,838 | |
| Amounts payable | 17/49 | €140,891 | €222,916 | +€82,025 | +58.2% |
| Amounts payable within one year | 42/48 | €140,891 | €222,916 | +€82,025 | +58.2% |
| Trade debts | 44 | €3,128 | €2,083 | -€1,045 | -33.4% |
| Suppliers | 440/4 | €3,128 | €2,083 | -€1,045 | -33.4% |
| Taxes, remuneration and social security | 45 | €2,986 | €14,533 | +€11,547 | +387% |
| Taxes | 450/3 | €2,986 | €12,225 | +€9,239 | +309% |
| Remuneration and social security | 454/9 | - | €2,308 | +€2,308 | |
| Other amounts payable | 47/48 | €134,777 | €206,300 | +€71,523 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,979 | €6,317 | +€337 | +5.6% |
| Other operating charges | 640/8 | €913 | €895 | -€18 | -1.9% |
| Gross operating margin | 9900 | €186,569 | €181,101 | -€5,468 | -2.9% |
| Operating profit (loss) | 9901 | €179,676 | €173,889 | -€5,787 | -3.2% |
| Financial income | 75/76B | €668 | €1,225 | +€557 | +83.3% |
| Recurring financial income | 75 | €668 | €1,225 | +€557 | +83.3% |
| Financial charges | 65/66B | €1,463 | €1,480 | +€17 | +1.2% |
| Recurring financial charges | 65 | €1,463 | €1,480 | +€17 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €178,881 | €173,633 | -€5,248 | -2.9% |
| Income taxes | 67/77 | €41,873 | €40,110 | -€1,763 | -4.2% |
| Profit (loss) for the period | 9904 | €137,009 | €133,523 | -€3,485 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €137,009 | €133,523 | -€3,485 | -2.5% |
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 19 October 2026 via checked.be.