COFRUSE: 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.
COFRUSE
Largest movements
- Receivables within one year -€581,839
down €581,839 (-83.3%), from €698,842 to €117,002
of which Trade receivables: -€569,394
- Cash +€483,016
up €483,016 (+182%), from €265,894 to €748,910
mainly Receivables within one year (+€581,839) and Net result for the year (+€134,118)
- Trade debts -€141,167
down €141,167 (-66.0%), from €213,751 to €72,584
- Other debts +€36,655
up €36,655 (+35.2%), from €104,119 to €140,774
- Gross operating margin +€51,922
up €51,922 (+33.8%), from €153,553 to €205,475
- Taxes +€22,662
up €22,662 (+60.3%), from €37,555 to €60,217
- Depreciation -€11,113
down €11,113 (-52.4%), from €21,188 to €10,075
- Financial income +€4,648
up €4,648 (+926%), from €502 to €5,150
- Financial charges +€2,979
up €2,979 (+230%), from €1,294 to €4,272
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 | €990,160 | €884,528 | -€105,632 | -10.7% |
| Fixed assets | 21/28 | €24,237 | €18,615 | -€5,622 | -23.2% |
| Tangible fixed assets | 22/27 | €24,237 | €18,615 | -€5,622 | -23.2% |
| Plant, machinery and equipment | 23 | €6,433 | €5,316 | -€1,117 | -17.4% |
| Furniture and vehicles | 24 | €17,805 | €13,300 | -€4,505 | -25.3% |
| Current assets | 29/58 | €965,922 | €865,912 | -€100,010 | -10.4% |
| Amounts receivable within one year | 40/41 | €698,842 | €117,002 | -€581,839 | -83.3% |
| Trade receivables | 40 | €686,397 | €117,002 | -€569,394 | -83.0% |
| Other amounts receivable | 41 | €12,445 | €0 | -€12,445 | -100% |
| Cash at bank and in hand | 54/58 | €265,894 | €748,910 | +€483,016 | +182% |
| Deferred charges and accrued income | 490/1 | €1,187 | €0 | -€1,187 | -100% |
| Total equity and liabilities | 10/49 | €990,160 | €884,528 | -€105,632 | -10.7% |
| Equity | 10/15 | €637,644 | €636,194 | -€1,450 | -0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €575,644 | €574,194 | -€1,450 | -0.3% |
| Non-distributable reserves | 130/1 | €6,222 | €6,222 | = | 0.0% |
| Legal reserve | 130 | €6,222 | €6,222 | = | 0.0% |
| Distributable reserves | 133 | €569,422 | €567,972 | -€1,450 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €352,516 | €248,334 | -€104,182 | -29.6% |
| Amounts payable within one year | 42/48 | €352,516 | €248,334 | -€104,182 | -29.6% |
| Trade debts | 44 | €213,751 | €72,584 | -€141,167 | -66.0% |
| Suppliers | 440/4 | €213,751 | €72,584 | -€141,167 | -66.0% |
| Taxes, remuneration and social security | 45 | €34,646 | €34,976 | +€330 | +1.0% |
| Taxes | 450/3 | €32,146 | €15,201 | -€16,946 | -52.7% |
| Remuneration and social security | 454/9 | €2,500 | €19,775 | +€17,275 | +691% |
| Other amounts payable | 47/48 | €104,119 | €140,774 | +€36,655 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,188 | €10,075 | -€11,113 | -52.4% |
| Other operating charges | 640/8 | €3,219 | €1,943 | -€1,276 | -39.6% |
| Gross operating margin | 9900 | €153,553 | €205,475 | +€51,922 | +33.8% |
| Operating profit (loss) | 9901 | €129,146 | €193,457 | +€64,311 | +49.8% |
| Financial income | 75/76B | €502 | €5,150 | +€4,648 | +926% |
| Recurring financial income | 75 | €502 | €5,150 | +€4,648 | +926% |
| Financial charges | 65/66B | €1,294 | €4,272 | +€2,979 | +230% |
| Recurring financial charges | 65 | €1,294 | €4,272 | +€2,979 | +230% |
| Profit (loss) for the period before taxes | 9903 | €128,355 | €194,335 | +€65,980 | +51.4% |
| Income taxes | 67/77 | €37,555 | €60,217 | +€22,662 | +60.3% |
| Profit (loss) for the period | 9904 | €90,800 | €134,118 | +€43,318 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,800 | €134,118 | +€43,318 | +47.7% |
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 27 October 2026 via checked.be.