Co-GeMa: 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.
Co-GeMa
Largest movements
- Cash +€12,011
up €12,011 (+173%), from €6,951 to €18,962
mainly Net result for the year (+€14,966) and Debts after one year (+€4,618)
- Tangible fixed assets +€3,801
up €3,801 (+61.7%), from €6,159 to €9,960
of which Furniture and vehicles: +€5,068
- Receivables within one year -€481
down €481 (-3.1%), from €15,437 to €14,956
of which Trade receivables: -€6,211
- Reserves +€14,965
up €14,965 (+119%), from €12,620 to €27,585
- Trade debts -€5,114
down €5,114 (-54.1%), from €9,450 to €4,336
- Short-term financial debts -€5,052
no longer reported in 2025 (was €5,052)
- Debts after one year +€4,618
up €4,618 (+369%), from €1,251 to €5,869
- Tax, wage and social debts +€3,748
up €3,748 (+133%), from €2,820 to €6,567
- Turnover +€15,378
up €15,378 (+14.7%), from €104,871 to €120,249
- Gross operating margin +€13,690
up €13,690 (+133%), from €10,259 to €23,949
- Taxes +€2,079
up €2,079 (+413%), from €503 to €2,582
- Purchases and services +€1,688
up €1,688 (+1.8%), from €94,612 to €96,300
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 | €30,723 | €45,961 | +€15,238 | +49.6% |
| Fixed assets | 21/28 | €7,329 | €11,130 | +€3,801 | +51.9% |
| Tangible fixed assets | 22/27 | €6,159 | €9,960 | +€3,801 | +61.7% |
| Plant, machinery and equipment | 23 | €4,441 | €3,173 | -€1,267 | -28.5% |
| Furniture and vehicles | 24 | €1,719 | €6,787 | +€5,068 | +295% |
| Financial fixed assets | 28 | €1,170 | €1,170 | = | 0.0% |
| Current assets | 29/58 | €23,394 | €34,831 | +€11,437 | +48.9% |
| Stocks and contracts in progress | 3 | €203 | €222 | +€19 | +9.1% |
| Stocks | 30/36 | €203 | €222 | +€19 | +9.1% |
| Amounts receivable within one year | 40/41 | €15,437 | €14,956 | -€481 | -3.1% |
| Trade receivables | 40 | €15,221 | €9,010 | -€6,211 | -40.8% |
| Other amounts receivable | 41 | €216 | €5,946 | +€5,730 | +2,650% |
| Cash at bank and in hand | 54/58 | €6,951 | €18,962 | +€12,011 | +173% |
| Deferred charges and accrued income | 490/1 | €802 | €691 | -€112 | -13.9% |
| Total equity and liabilities | 10/49 | €30,723 | €45,961 | +€15,238 | +49.6% |
| Equity | 10/15 | €10,567 | €25,533 | +€14,966 | +142% |
| Contributions | 10/11 | €18,957 | €18,957 | = | 0.0% |
| Capital | 10 | €18,957 | €18,957 | = | 0.0% |
| Issued capital | 100 | €18,957 | €18,957 | = | 0.0% |
| Reserves | 13 | €12,620 | €27,585 | +€14,965 | +119% |
| Distributable reserves | 133 | €12,620 | €27,585 | +€14,965 | +119% |
| Profit (loss) carried forward | 14 | -€21,010 | -€21,009 | +€1 | 0.0% |
| Amounts payable | 17/49 | €20,156 | €20,428 | +€272 | +1.3% |
| Amounts payable after more than one year | 17 | €1,251 | €5,869 | +€4,618 | +369% |
| Financial debts | 170/4 | €1,251 | €5,869 | +€4,618 | +369% |
| Amounts payable within one year | 42/48 | €18,905 | €14,559 | -€4,346 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €1,583 | €3,656 | +€2,072 | +131% |
| Financial debts | 43 | €5,052 | - | -€5,052 | |
| Credit institutions | 430/8 | €5,052 | - | -€5,052 | |
| Trade debts | 44 | €9,450 | €4,336 | -€5,114 | -54.1% |
| Suppliers | 440/4 | €9,450 | €4,336 | -€5,114 | -54.1% |
| Taxes, remuneration and social security | 45 | €2,820 | €6,567 | +€3,748 | +133% |
| Taxes | 450/3 | €2,820 | €6,567 | +€3,748 | +133% |
| Turnover | 70 | €104,871 | €120,249 | +€15,378 | +14.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,612 | €96,300 | +€1,688 | +1.8% |
| Remuneration, social security and pensions | 62 | - | €178 | +€178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,707 | €2,106 | -€601 | -22.2% |
| Other operating charges | 640/8 | €2,447 | €1,605 | -€842 | -34.4% |
| Gross operating margin | 9900 | €10,259 | €23,949 | +€13,690 | +133% |
| Operating profit (loss) | 9901 | €5,104 | €20,060 | +€14,956 | +293% |
| Financial income | 75/76B | €67 | €28 | -€39 | -57.6% |
| Recurring financial income | 75 | €67 | €28 | -€39 | -57.6% |
| Financial charges | 65/66B | €1,600 | €2,541 | +€941 | +58.8% |
| Recurring financial charges | 65 | €1,600 | €2,541 | +€941 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €3,571 | €17,548 | +€13,976 | +391% |
| Income taxes | 67/77 | €503 | €2,582 | +€2,079 | +413% |
| Profit (loss) for the period | 9904 | €3,068 | €14,966 | +€11,898 | +388% |
| Profit (loss) for the period to be appropriated | 9905 | €3,068 | €14,966 | +€11,898 | +388% |
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 29 October 2026 via checked.be.