COFISCAL: 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.
COFISCAL
Largest movements
- Receivables within one year -€45,019
down €45,019 (-33.9%), from €132,621 to €87,603
of which Trade receivables: -€32,223
- Cash +€44,974
up €44,974 (+146%), from €30,778 to €75,752
mainly Other debts (+€69,735) and Receivables within one year (+€45,019)
- Receivables after one year -€15,000
down €15,000 (-23.1%), from €65,000 to €50,000
- Deferred charges and accrued income +€9,077
up €9,077 (+87.8%), from €10,344 to €19,421
- Other debts +€69,735
up €69,735 (+139%), from €50,000 to €119,735
- Reserves -€61,500
down €61,500 (-66.2%), from €92,860 to €31,360
of which Distributable reserves: -€61,500
- Tax, wage and social debts +€26,154
up €26,154 (+60.6%), from €43,182 to €69,336
of which Remuneration and social security: +€23,449
- Provisions -€14,635
down €14,635 (-21.0%), from €69,692 to €55,057
- Profit (loss) carried forward -€11,026
down €11,026 (-6.3%), from €174,870 to €163,843
- Staff costs +€65,395
up €65,395 (+37.5%), from €174,167 to €239,561
- Financial charges +€36,450
up €36,450 (+61.3%), from €59,437 to €95,887
- Taxes -€26,327
down €26,327 (-94.0%), from €28,000 to €1,673
- Provisions -€24,641
down €24,641, from €10,007 to -€14,635
- Gross operating margin +€4,662
up €4,662 (+1.5%), from €314,923 to €319,585
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 | €467,130 | €465,707 | -€1,424 | -0.3% |
| Fixed assets | 21/28 | €228,387 | €232,931 | +€4,544 | +2.0% |
| Tangible fixed assets | 22/27 | €8,387 | €12,931 | +€4,544 | +54.2% |
| Furniture and vehicles | 24 | €8,387 | €11,108 | +€2,720 | +32.4% |
| Other tangible fixed assets | 26 | - | €1,823 | +€1,823 | |
| Financial fixed assets | 28 | €220,000 | €220,000 | = | 0.0% |
| Current assets | 29/58 | €238,743 | €232,776 | -€5,967 | -2.5% |
| Amounts receivable after more than one year | 29 | €65,000 | €50,000 | -€15,000 | -23.1% |
| Other amounts receivable | 291 | €65,000 | €50,000 | -€15,000 | -23.1% |
| Amounts receivable within one year | 40/41 | €132,621 | €87,603 | -€45,019 | -33.9% |
| Trade receivables | 40 | €69,825 | €37,603 | -€32,223 | -46.1% |
| Other amounts receivable | 41 | €62,796 | €50,000 | -€12,796 | -20.4% |
| Cash at bank and in hand | 54/58 | €30,778 | €75,752 | +€44,974 | +146% |
| Deferred charges and accrued income | 490/1 | €10,344 | €19,421 | +€9,077 | +87.8% |
| Total equity and liabilities | 10/49 | €467,130 | €465,707 | -€1,424 | -0.3% |
| Equity | 10/15 | €273,930 | €201,403 | -€72,526 | -26.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,860 | €31,360 | -€61,500 | -66.2% |
| 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 | €91,000 | €29,500 | -€61,500 | -67.6% |
| Profit (loss) carried forward | 14 | €174,870 | €163,843 | -€11,026 | -6.3% |
| Provisions and deferred taxes | 16 | €69,692 | €55,057 | -€14,635 | -21.0% |
| Provisions for liabilities and charges | 160/5 | €69,692 | €55,057 | -€14,635 | -21.0% |
| Other liabilities and charges | 164/5 | €69,692 | €55,057 | -€14,635 | -21.0% |
| Amounts payable | 17/49 | €123,509 | €209,246 | +€85,737 | +69.4% |
| Amounts payable after more than one year | 17 | €6,277 | - | -€6,277 | |
| Financial debts | 170/4 | €6,277 | - | -€6,277 | |
| Amounts payable within one year | 42/48 | €116,972 | €207,996 | +€91,025 | +77.8% |
| Current portion of amounts payable after more than one year | 42 | €7,180 | €6,277 | -€903 | -12.6% |
| Financial debts | 43 | €4,988 | - | -€4,988 | |
| Credit institutions | 430/8 | €4,988 | - | -€4,988 | |
| Trade debts | 44 | €11,622 | €12,647 | +€1,026 | +8.8% |
| Suppliers | 440/4 | €11,622 | €12,647 | +€1,026 | +8.8% |
| Taxes, remuneration and social security | 45 | €43,182 | €69,336 | +€26,154 | +60.6% |
| Taxes | 450/3 | €30,135 | €32,841 | +€2,706 | +9.0% |
| Remuneration and social security | 454/9 | €13,047 | €36,496 | +€23,449 | +180% |
| Other amounts payable | 47/48 | €50,000 | €119,735 | +€69,735 | +139% |
| Accrued charges and deferred income | 492/3 | €260 | €1,250 | +€990 | +381% |
| Remuneration, social security and pensions | 62 | €174,167 | €239,561 | +€65,395 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,475 | €4,357 | +€882 | +25.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,007 | -€14,635 | -€24,641 | |
| Other operating charges | 640/8 | €1,655 | €3,768 | +€2,113 | +128% |
| Gross operating margin | 9900 | €314,923 | €319,585 | +€4,662 | +1.5% |
| Operating profit (loss) | 9901 | €125,620 | €86,533 | -€39,087 | -31.1% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €59,437 | €95,887 | +€36,450 | +61.3% |
| Recurring financial charges | 65 | €59,437 | €95,887 | +€36,450 | +61.3% |
| Profit (loss) for the period before taxes | 9903 | €66,183 | -€9,354 | -€75,537 | |
| Income taxes | 67/77 | €28,000 | €1,673 | -€26,327 | -94.0% |
| Profit (loss) for the period | 9904 | €38,183 | -€11,026 | -€49,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,183 | -€11,026 | -€49,209 |
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.