COFRABEL: 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.
COFRABEL
Largest movements
- Tangible fixed assets -€14,398
down €14,398 (-4.2%), from €342,962 to €328,564
of which Land and buildings: -€14,170
- Receivables within one year -€7,151
down €7,151 (-91.6%), from €7,810 to €659
of which Trade receivables: -€7,612
- Cash +€7,001
up €7,001 (+7.7%), from €91,461 to €98,462
mainly Depreciation (+€14,398) and Receivables within one year (+€7,151)
- Debts after one year -€10,150
down €10,150 (-22.6%), from €44,982 to €34,832
- Gross operating margin +€29,920
up €29,920, from -€14,509 to €15,412
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 | €443,824 | €429,492 | -€14,331 | -3.2% |
| Fixed assets | 21/28 | €343,003 | €328,605 | -€14,398 | -4.2% |
| Tangible fixed assets | 22/27 | €342,962 | €328,564 | -€14,398 | -4.2% |
| Land and buildings | 22 | €342,106 | €327,935 | -€14,170 | -4.1% |
| Furniture and vehicles | 24 | €856 | €628 | -€228 | -26.6% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €100,821 | €100,887 | +€67 | +0.1% |
| Amounts receivable within one year | 40/41 | €7,810 | €659 | -€7,151 | -91.6% |
| Trade receivables | 40 | €7,810 | €199 | -€7,612 | -97.5% |
| Other amounts receivable | 41 | - | €461 | +€461 | |
| Cash at bank and in hand | 54/58 | €91,461 | €98,462 | +€7,001 | +7.7% |
| Deferred charges and accrued income | 490/1 | €1,550 | €1,766 | +€217 | +14.0% |
| Total equity and liabilities | 10/49 | €443,824 | €429,492 | -€14,331 | -3.2% |
| Equity | 10/15 | €336,370 | €334,649 | -€1,721 | -0.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €109,155 | €104,832 | -€4,323 | -4.0% |
| Tax-exempt reserves | 132 | €109,155 | €104,832 | -€4,323 | -4.0% |
| Profit (loss) carried forward | 14 | €219,155 | €221,757 | +€2,602 | +1.2% |
| Provisions and deferred taxes | 16 | €45,851 | €44,035 | -€1,816 | -4.0% |
| Deferred taxes | 168 | €45,851 | €44,035 | -€1,816 | -4.0% |
| Amounts payable | 17/49 | €61,603 | €50,809 | -€10,794 | -17.5% |
| Amounts payable after more than one year | 17 | €44,982 | €34,832 | -€10,150 | -22.6% |
| Financial debts | 170/4 | €44,982 | €34,832 | -€10,150 | -22.6% |
| Amounts payable within one year | 42/48 | €16,474 | €15,598 | -€875 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €10,015 | €10,150 | +€135 | +1.3% |
| Financial debts | 43 | - | €17 | +€17 | |
| Credit institutions | 430/8 | - | €17 | +€17 | |
| Trade debts | 44 | €3,410 | €4,936 | +€1,526 | +44.7% |
| Suppliers | 440/4 | €3,410 | €4,936 | +€1,526 | +44.7% |
| Taxes, remuneration and social security | 45 | €1,322 | €496 | -€827 | -62.5% |
| Taxes | 450/3 | €1,322 | €496 | -€827 | -62.5% |
| Other amounts payable | 47/48 | €1,727 | - | -€1,727 | |
| Accrued charges and deferred income | 492/3 | €147 | €378 | +€231 | +156.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,398 | €14,398 | = | 0.0% |
| Other operating charges | 640/8 | €3,313 | €3,415 | +€103 | +3.1% |
| Gross operating margin | 9900 | -€14,509 | €15,412 | +€29,920 | |
| Operating profit (loss) | 9901 | -€32,219 | -€2,402 | +€29,818 | +92.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -90.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -90.0% |
| Financial charges | 65/66B | €858 | €883 | +€26 | +3.0% |
| Recurring financial charges | 65 | €858 | €883 | +€26 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,077 | -€3,285 | +€29,792 | +90.1% |
| Transfer from deferred taxes | 780 | €1,816 | €1,816 | = | 0.0% |
| Income taxes | 67/77 | €243 | €253 | +€9 | +3.8% |
| Profit (loss) for the period | 9904 | -€31,504 | -€1,721 | +€29,783 | +94.5% |
| Transfer from tax-exempt reserves | 789 | €4,323 | €4,323 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,181 | €2,602 | +€29,783 |
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 3 October 2026 via checked.be.