COFITAX: 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.
COFITAX
Largest movements
- Cash +€206,288
up €206,288 (+131%), from €157,706 to €363,994
mainly Net result for the year (+€200,687) and Depreciation (+€93,983)
- Receivables within one year +€85,799
up €85,799 (+47.8%), from €179,559 to €265,358
of which Trade receivables: +€87,811
- Deferred charges and accrued income -€80,798
down €80,798 (-72.1%), from €112,073 to €31,275
- Intangible fixed assets -€77,438
down €77,438 (-12.2%), from €634,472 to €557,034
- Tangible fixed assets +€46,220
up €46,220 (+207%), from €22,381 to €68,601
of which Plant, machinery and equipment: +€26,272
- Reserves +€116,500
up €116,500 (+25.5%), from €457,360 to €573,860
of which Distributable reserves: +€116,500
- Debts after one year -€107,039
down €107,039 (-13.1%), from €815,590 to €708,551
- Other debts +€73,552
up €73,552 (+1,388%), from €5,298 to €78,850
- Trade debts +€43,715
up €43,715 (+143%), from €30,566 to €74,281
- Tax, wage and social debts +€41,974
up €41,974 (+47.6%), from €88,258 to €130,232
of which Remuneration and social security: +€39,313
- Staff costs +€102,059
up €102,059 (+34.2%), from €298,699 to €400,758
- Gross operating margin +€95,099
up €95,099 (+12.3%), from €772,843 to €867,942
- Financial charges +€48,196
up €48,196 (+206%), from €23,411 to €71,607
- Provisions -€41,580
down €41,580 (-93.9%), from €44,290 to €2,710
- Taxes -€11,499
down €11,499 (-10.4%), from €110,395 to €98,896
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 | €1,735,241 | €1,915,262 | +€180,021 | +10.4% |
| Fixed assets | 21/28 | €1,285,903 | €1,254,635 | -€31,268 | -2.4% |
| Intangible fixed assets | 21 | €634,472 | €557,034 | -€77,438 | -12.2% |
| Tangible fixed assets | 22/27 | €22,381 | €68,601 | +€46,220 | +207% |
| Plant, machinery and equipment | 23 | €6,260 | €32,532 | +€26,272 | +420% |
| Furniture and vehicles | 24 | €4,465 | €8,266 | +€3,801 | +85.1% |
| Leasing and similar rights | 25 | - | €17,652 | +€17,652 | |
| Other tangible fixed assets | 26 | €11,656 | €10,151 | -€1,505 | -12.9% |
| Financial fixed assets | 28 | €629,050 | €629,000 | -€50 | 0.0% |
| Current assets | 29/58 | €449,338 | €660,627 | +€211,289 | +47.0% |
| Amounts receivable within one year | 40/41 | €179,559 | €265,358 | +€85,799 | +47.8% |
| Trade receivables | 40 | €150,697 | €238,508 | +€87,811 | +58.3% |
| Other amounts receivable | 41 | €28,862 | €26,850 | -€2,012 | -7.0% |
| Cash at bank and in hand | 54/58 | €157,706 | €363,994 | +€206,288 | +131% |
| Deferred charges and accrued income | 490/1 | €112,073 | €31,275 | -€80,798 | -72.1% |
| Total equity and liabilities | 10/49 | €1,735,241 | €1,915,262 | +€180,021 | +10.4% |
| Equity | 10/15 | €577,769 | €695,102 | +€117,333 | +20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €457,360 | €573,860 | +€116,500 | +25.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €455,500 | €572,000 | +€116,500 | +25.6% |
| Profit (loss) carried forward | 14 | €114,209 | €115,042 | +€833 | +0.7% |
| Provisions and deferred taxes | 16 | €44,290 | €47,000 | +€2,710 | +6.1% |
| Provisions for liabilities and charges | 160/5 | €44,290 | €47,000 | +€2,710 | +6.1% |
| Other liabilities and charges | 164/5 | €44,290 | €47,000 | +€2,710 | +6.1% |
| Amounts payable | 17/49 | €1,113,182 | €1,173,160 | +€59,978 | +5.4% |
| Amounts payable after more than one year | 17 | €815,590 | €708,551 | -€107,039 | -13.1% |
| Financial debts | 170/4 | €815,590 | €708,551 | -€107,039 | -13.1% |
| Amounts payable within one year | 42/48 | €295,633 | €464,609 | +€168,976 | +57.2% |
| Current portion of amounts payable after more than one year | 42 | €134,586 | €147,557 | +€12,971 | +9.6% |
| Financial debts | 43 | €36,925 | €33,690 | -€3,235 | -8.8% |
| Credit institutions | 430/8 | €36,925 | €33,690 | -€3,235 | -8.8% |
| Trade debts | 44 | €30,566 | €74,281 | +€43,715 | +143% |
| Suppliers | 440/4 | €30,566 | €74,281 | +€43,715 | +143% |
| Taxes, remuneration and social security | 45 | €88,258 | €130,232 | +€41,974 | +47.6% |
| Taxes | 450/3 | €58,574 | €61,235 | +€2,661 | +4.5% |
| Remuneration and social security | 454/9 | €29,684 | €68,997 | +€39,313 | +132% |
| Other amounts payable | 47/48 | €5,298 | €78,850 | +€73,552 | +1,388% |
| Accrued charges and deferred income | 492/3 | €1,959 | €0 | -€1,959 | -100% |
| Remuneration, social security and pensions | 62 | €298,699 | €400,758 | +€102,059 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,567 | €93,983 | +€11,416 | +13.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €44,290 | €2,710 | -€41,580 | -93.9% |
| Other operating charges | 640/8 | €8,652 | €4,920 | -€3,732 | -43.1% |
| Gross operating margin | 9900 | €772,843 | €867,942 | +€95,099 | +12.3% |
| Operating profit (loss) | 9901 | €338,635 | €365,570 | +€26,935 | +8.0% |
| Financial income | 75/76B | €1,541 | €5,620 | +€4,079 | +265% |
| Recurring financial income | 75 | €1,541 | €5,620 | +€4,079 | +265% |
| Financial charges | 65/66B | €23,411 | €71,607 | +€48,196 | +206% |
| Recurring financial charges | 65 | €23,411 | €71,607 | +€48,196 | +206% |
| Profit (loss) for the period before taxes | 9903 | €316,765 | €299,583 | -€17,182 | -5.4% |
| Income taxes | 67/77 | €110,395 | €98,896 | -€11,499 | -10.4% |
| Profit (loss) for the period | 9904 | €206,370 | €200,687 | -€5,683 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €206,370 | €200,687 | -€5,683 | -2.8% |
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.