COGENCY
InactiveFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 11-07-2024 PDF all 31 filings
Turnover
≈ €390,000
Estimated: probably between €240,000 and €730,000
Total assets
€2.0m▲ 55.3%
2022 · €1.3m
Net result
-€14,133
2022 · €79,240
Working capital
-€784,041
2022 · €163,983
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
€106,003
▲ 11.6%
2023
20182023
Net result
-€14,133
2023
20182023
Equity
€487,650
▼ 2.8%
2023
20182023
Total assets
€2.0m
▲ 55.3%
2023
20182023
Debt
€1.4m
▲ 107%
2023
20182023
Working capital
-€784,041
2023
20182023
Staff (FTE)
0
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€0.01m-€0.02m▲ 74.5%€0.02m▲ 16.0%€0.3m▲ 14×€0.09m▼ 71.3%€0.1m▲ 11.6%
Net result-€0.009m-€0.001m€0.004m▲ 237%€0.2m▲ 70×€0.08m▼ 67.5%-€0.01m
Equity€0.2m-€0.2m▲ 0.6%€0.2m▲ 2.0%€0.4m▲ 137%€0.5m▲ 18.8%€0.5m▼ 2.8%
Total assets€1.4m-€1.3m▼ 2.6%€1.3m▼ 4.7%€1.2m▼ 6.8%€1.3m▲ 10.4%€2.0m▲ 55.3%
Debt€1.2m-€1.1m▼ 3.1%€1.1m▼ 5.7%€0.7m▼ 36.8%€0.7m▲ 0.4%€1.4m▲ 107%
Working capital-€1.1m--€0.08m▲ 92.5%-€0.05m▲ 35.6%€0.02m€0.2m▲ 809%-€0.8m
Staff (FTE)0
The operating result for 2023 is 12% higher than in 2022. It is a recovery after the fall in 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.9m ▲ 75.6%
Current assets
€108,940 ▼ 48.4%
Equity and liabilities €2.0m
Equity
€487,650 ▼ 2.8%
Provisions
€105,509 ▼ 0.9%
Debt
€1.4m ▲ 107%
Debt's share of the balance-sheet total rises from 52.9% to 70.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€141,110▲
2022 · €121,702
Cash flow
€20,975▼
2022 · €105,943
Current ratio
0.12▼
2022 · 4.47
Debt to equity
2.89▲
2022 · 1.36
ROE
-2.9%▼
2022 · 15.8%
ROA
-0.7%▼
2022 · 6.1%
Interest coverage
3.13▼
2022 · 8.62
Debt ≤ 1 year
€892,980▲
2022 · €47,216
Debt > 1 year
€518,538▼
2022 · €635,357
Income taxes
€17,362▲
2022 · €5,032
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Debts secured on the company's own assets | - | - | €635,357 |
| Mortgages, amount registered | €100,000 | €100,000 | €127,500 |
| Mortgage mandates | €900,000 | €900,000 | €1.5m |
| Carrying value of the mortgaged assets | €400,000 | €400,000 | €1.9m |
Source: notes to the 2021 to 2023 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €0 | - | €851,200 |
| Depreciation and write-downs of the year | €26,703 | €26,703 | €35,107 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,484 | €40,484 | €26,703 | €26,703 | €26,703 | €35,107 | ▲ 31.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €40,000 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €6,294 | €6,986 | €11,535 | ▲ 65.1% |
| Gross operating margin9900 | €57,412 | €66,065 | €55,779 | €364,410 | €168,688 | €152,645 | ▼ 9.5% |
| Operating profit (loss)9901 | €11,904 | €20,778 | €24,104 | €331,412 | €94,999 | €106,003 | ▲ 11.6% |
| Financial income75/76B | - | - | - | €83 | €3,399 | €185 | ▼ 94.6% |
| Recurring financial income75 | - | - | €202 | €83 | €3,399 | €185 | ▼ 94.6% |
| Financial charges65/66B | - | - | - | €20,840 | €14,126 | €103,938 | ▲ 636% |
| Recurring financial charges65 | €21,344 | €19,734 | €20,794 | €20,840 | €14,126 | €45,051 | ▲ 219% |
| Non-recurring financial charges66B | - | - | - | - | - | €58,888 | - |
| Profit (loss) for the period before taxes9903 | -€9,440 | €1,044 | €3,512 | €310,656 | €84,272 | €2,249 | ▼ 97.3% |
| Transfer from deferred taxes780 | - | - | - | - | - | €980 | - |
| Transfer to deferred taxes680 | - | - | - | €66,489 | €0 | - | - |
| Income taxes67/77 | - | - | - | - | €5,032 | €17,362 | ▲ 245% |
| Profit (loss) for the period9904 | -€9,440 | €1,044 | €3,512 | €244,167 | €79,240 | -€14,133 | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €2,939 | - |
| Transfer to tax-exempt reserves689 | - | - | - | €199,466 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€9,440 | €1,044 | €3,512 | €44,701 | €79,240 | -€11,193 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.4m | €1.3m | €1.3m | €1.2m | €1.3m | €2.0m | ▲ 55.3% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.2m | €1.1m | €1.1m | €1.9m | ▲ 75.6% |
| Tangible fixed assets22/27 | €1.3m | €1.3m | €1.2m | €1.1m | €1.1m | €1.9m | ▲ 75.6% |
| Land and buildings22 | - | - | - | €1.1m | €1.1m | €1.9m | ▲ 75.6% |
| Current assets29/58 | €0.05m | €0.06m | €0.02m | €0.06m | €0.2m | €0.1m | ▼ 48.4% |
| Amounts receivable within one year40/41 | €0.01m | €0.04m | €0.01m | €0.03m | €0.2m | €0.1m | ▼ 50.2% |
| Trade receivables40 | - | - | - | - | €0.06m | €0.06m | ▲ 0.7% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.2m | €0.05m | ▼ 68.5% |
| Cash at bank and in hand54/58 | €0.04m | €0.02m | €0.01m | €0.03m | €0.002m | €0.005m | ▲ 154% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €1.3m | €1.2m | €1.3m | €2.0m | ▲ 55.3% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.4m | €0.5m | €0.5m | ▼ 2.8% |
| Contributions10/11 | €0.3m | €0.3m | - | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.2m | €0.2m | €0.2m | ▼ 1.5% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.2m | ▼ 1.5% |
| Profit (loss) carried forward14 | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.02m | -€0.03m | ▼ 61.7% |
| Provisions and deferred taxes16 | - | - | - | €0.07m | €0.1m | €0.1m | ▼ 0.9% |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0.04m | €0.04m | = |
| Other liabilities and charges164/5 | - | - | - | - | €0.04m | €0.04m | = |
| Deferred taxes168 | - | - | - | €0.07m | €0.07m | €0.07m | ▼ 1.5% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.1m | €0.7m | €0.7m | €1.4m | ▲ 107% |
| Amounts payable after more than one year17 | - | €1.0m | €1.0m | €0.6m | €0.6m | €0.5m | ▼ 18.4% |
| Financial debts170/4 | - | - | - | €0.6m | €0.6m | €0.5m | ▼ 18.4% |
| Amounts payable within one year42/48 | €1.2m | €0.1m | €0.08m | €0.04m | €0.05m | €0.9m | ▲ 19× |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.7m | - |
| Trade debts44 | €0.01m | €0.002m | €0.002m | €0.003m | €0.005m | €0.003m | ▼ 40.0% |
| Suppliers440/4 | - | - | - | €0.003m | €0.005m | €0.003m | ▼ 40.0% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.005m | €0.02m | ▲ 346% |
| Taxes450/3 | - | - | - | - | €0.005m | €0.02m | ▲ 346% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0.2m | ▲ 461% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,440 | €1,044 | €3,512 | €244,167 | €79,240 | -€14,133 | - |
| + Depreciation and write-downs630 | €40,484 | €40,484 | €26,703 | €26,703 | €26,703 | €35,107 | ▲ 31.5% |
| Operating cash flow (approximation) | €31,044 | €41,527 | €30,215 | €270,870 | €105,943 | €20,975 | ▼ 80.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €100,000 | €0 | -€851,200 | - |
| Change in cash | - | -€19,561 | -€5,957 | €23,255 | -€32,443 | €2,878 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00236236 | |
| 31-12-2022 | abbreviated format | 12-07-2023 | 2023-00234300 | |
| 31-12-2021 | abbreviated format | 19-07-2022 | 2022-20200009 | |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-26700386 | |
| 31-12-2019 | abbreviated format | 10-06-2020 | 2020-15800423 | |
| 31-12-2018 | abbreviated format | 30-06-2019 | 2019-26100018 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-38000477 | |
| 31-12-2016 | abbreviated format | 24-06-2017 | 2017-21500355 | |
| 31-12-2015 | abbreviated format | 29-07-2016 | 2016-38100209 | |
| 31-12-2014 | abbreviated format | 16-09-2015 | 2015-58800405 |