CFI: Loss Limited to €26k in First Half 2026 and Merger with Apsys Under Consideration
CFI - Compagnie Foncière Internationale, a company managed in wind-down since the disposal of its last asset in October 2014, published on 30 September 2026 its financial report for the first six months of the fiscal year.
The entity holds only a residual cash position invested in short-term instruments and generates no revenue. The document also mentions the possibility of a merger with its parent company, Financière Apsys.
A Half-Year Loss of €26k, Contained Compared to 2025
In the first half of 2026, the Company recorded a net loss of €26k, compared to a loss of €34k in the first half of 2025.
The operating result stands at (€28)k, against (€31)k a year earlier. The financial result amounts to €2k, compared to (€3)k in the first half of 2025, driven by interest income and similar products of €2k.
The Company generates no revenue. Operating expenses, consisting mainly of outsourced services and consulting fees, total €28k for the half-year, compared to €31k a year previously.
A Debt-Free Structure, Reduced to Residual Cash
As of 30 June 2026, total assets amount to €190k, compared to €227k as of 31 December 2025. Closing cash reaches €41k, against €211k at opening, following a debt repayment of €130k during the period.
Equity stands at €104k as of 30 June 2026, compared to €131k at the end of 2025. The Company holds no bank debt and is therefore not subject to any covenants. It has no employees and compensation for management and administrative bodies was zero during the period.
Financière Apsys, which has held 90.55% of the capital since 12 January 2018, issued a support letter to ensure business continuity.
A Merger with Financière Apsys Under Consideration
The Company indicates that no operational activity is planned to date. Reflections are underway on its prospects.
The document mentions the hypothesis of a merger between CFI and Financière Apsys. In this framework, the Company's activity would be redirected towards the holding and development, directly or indirectly, of commercial real estate assets.
The tax loss as of 30 June 2026 amounts to €21,974.22, with the total of carried-forward losses reaching €1,042,039 as of 31 December 2025.
