COFOL: 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.
COFOL
Largest movements
- Receivables after one year -€17,600
down €17,600 (-22.7%), from €77,600 to €60,000
- Tangible fixed assets -€10,562
down €10,562 (-28.6%), from €36,942 to €26,380
of which Furniture and vehicles: -€7,129
- Receivables within one year +€4,130
up €4,130 (+12.2%), from €33,785 to €37,915
of which Trade receivables: +€6,583
- Cash +€2,270
up €2,270 (+39.9%), from €5,687 to €7,957
mainly Receivables after one year (+€17,600) and Depreciation (+€12,790)
- Profit (loss) carried forward -€15,540
down €15,540 (-37.7%), from -€41,256 to -€56,796
- Other debts -€5,005
down €5,005 (-7.7%), from €64,732 to €59,727
- Tax, wage and social debts +€1,852
up €1,852 (+49.9%), from €3,711 to €5,564
- Gross operating margin +€27,183
up €27,183, from -€26,388 to €794
- Financial income -€819
down €819 (-18.5%), from €4,433 to €3,614
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 | €180,457 | €159,854 | -€20,604 | -11.4% |
| Fixed assets | 21/28 | €38,142 | €29,129 | -€9,013 | -23.6% |
| Intangible fixed assets | 21 | - | €1,549 | +€1,549 | |
| Tangible fixed assets | 22/27 | €36,942 | €26,380 | -€10,562 | -28.6% |
| Plant, machinery and equipment | 23 | €5,940 | €5,940 | = | 0.0% |
| Furniture and vehicles | 24 | €16,955 | €9,826 | -€7,129 | -42.0% |
| Other tangible fixed assets | 26 | €14,046 | €10,614 | -€3,432 | -24.4% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €142,316 | €130,725 | -€11,591 | -8.1% |
| Amounts receivable after more than one year | 29 | €77,600 | €60,000 | -€17,600 | -22.7% |
| Other amounts receivable | 291 | €77,600 | €60,000 | -€17,600 | -22.7% |
| Amounts receivable within one year | 40/41 | €33,785 | €37,915 | +€4,130 | +12.2% |
| Trade receivables | 40 | €23,214 | €29,798 | +€6,583 | +28.4% |
| Other amounts receivable | 41 | €10,570 | €8,117 | -€2,453 | -23.2% |
| Cash at bank and in hand | 54/58 | €5,687 | €7,957 | +€2,270 | +39.9% |
| Deferred charges and accrued income | 490/1 | €25,244 | €24,853 | -€391 | -1.5% |
| Total equity and liabilities | 10/49 | €180,457 | €159,854 | -€20,604 | -11.4% |
| Equity | 10/15 | €103,140 | €87,600 | -€15,540 | -15.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €143,396 | €143,396 | = | 0.0% |
| Distributable reserves | 133 | €143,396 | €143,396 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,256 | -€56,796 | -€15,540 | -37.7% |
| Amounts payable | 17/49 | €77,317 | €72,254 | -€5,064 | -6.5% |
| Amounts payable within one year | 42/48 | €74,417 | €69,584 | -€4,832 | -6.5% |
| Trade debts | 44 | €5,973 | €4,294 | -€1,679 | -28.1% |
| Suppliers | 440/4 | €5,973 | €4,294 | -€1,679 | -28.1% |
| Taxes, remuneration and social security | 45 | €3,711 | €5,564 | +€1,852 | +49.9% |
| Taxes | 450/3 | €3,711 | €5,564 | +€1,852 | +49.9% |
| Other amounts payable | 47/48 | €64,732 | €59,727 | -€5,005 | -7.7% |
| Accrued charges and deferred income | 492/3 | €2,901 | €2,669 | -€231 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,034 | €12,790 | -€244 | -1.9% |
| Other operating charges | 640/8 | €784 | €809 | +€25 | +3.2% |
| Non-recurring operating charges | 66A | - | €748 | +€748 | |
| Gross operating margin | 9900 | -€26,388 | €794 | +€27,183 | |
| Operating profit (loss) | 9901 | -€40,206 | -€13,552 | +€26,653 | +66.3% |
| Financial income | 75/76B | €4,433 | €3,614 | -€819 | -18.5% |
| Recurring financial income | 75 | €4,433 | €3,614 | -€819 | -18.5% |
| Financial charges | 65/66B | €5,187 | €5,324 | +€137 | +2.6% |
| Recurring financial charges | 65 | €5,187 | €5,324 | +€137 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€40,960 | -€15,263 | +€25,697 | +62.7% |
| Income taxes | 67/77 | €296 | €277 | -€19 | -6.3% |
| Profit (loss) for the period | 9904 | -€41,256 | -€15,540 | +€25,716 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,256 | -€15,540 | +€25,716 | +62.3% |
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 30 October 2026 via checked.be.