COG: 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.
What changed
COG
NACE 66.300, Activities auxiliary to financial services and insurance activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€293,122
2024 · €245,234+€47,888
Equity
€3.1m
2024 · €2.8m+€293,122
Cash
€123,022
2024 · €112,047+€10,975
Balance sheet total
€5.7m
2024 · €5.9m-€218,625
Largest movements
Assets
- Financial fixed assets -€145,701
down €145,701 (-10.8%), from €1.4m to €1.2m
- Tangible fixed assets -€107,560
down €107,560 (-2.5%), from €4.3m to €4.1m
of which Land and buildings: -€73,926
Equity and liabilities
- Debts after one year -€818,873
down €818,873 (-53.9%), from €1.5m to €700,024
- Other debts +€641,769
up €641,769 (+86.9%), from €738,430 to €1.4m
- Current portion of long-term debt -€313,721
down €313,721 (-75.8%), from €413,721 to €100,000
- Reserves +€293,122
up €293,122 (+10.6%), from €2.8m to €3.1m
of which Distributable reserves: +€293,122
Income statement
- Turnover +€42,347
up €42,347 (+7.4%), from €576,053 to €618,400
- Services and other goods -€27,135
down €27,135 (-22.7%), from €119,480 to €92,344
- Other operating charges +€24,410
up €24,410 (+58.7%), from €41,609 to €66,019
- Taxes +€14,996
up €14,996 (+18.1%), from €82,684 to €97,680
of which Taxes: +€15,016
- Depreciation -€13,217
down €13,217 (-10.9%), from €120,776 to €107,560
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.
Result 2024
€245,234
Turnover
+€42,347
Other operating income
+€4,675
Services and other goods
+€27,135
Depreciation
+€13,217
Other operating charges
-€24,410
Financial income
-€2,384
Financial charges
+€2,303
Taxes
-€14,996
Result 2025
€293,122
raises the resultlowers the result
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.
From operations
+€997,868
Investment
+€145,701
Financing
-€1.1m
Cash 2024
€112,047
From operations (derived)
+€997,868
Net result for the year
+€293,122
Depreciation
+€107,560
Receivables within one year
-€23,660
Trade debts
+€1,898
Tax, wage and social debts
+€6,494
Other debts
+€641,769
Accrued charges and deferred income
-€29,314
Investment (derived)
+€145,701
Investment in fixed assets (net)
+€145,701
Financing
-€1.1m
Debts after one year
-€818,873
Current portion of long-term debt
-€313,721
Cash 2025
€123,022
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,915,395 | €5,696,770 | -€218,625 | -3.7% |
| Fixed assets | 21/28 | €5,608,930 | €5,355,669 | -€253,260 | -4.5% |
| Tangible fixed assets | 22/27 | €4,256,944 | €4,149,384 | -€107,560 | -2.5% |
| Land and buildings | 22 | €4,074,762 | €4,000,836 | -€73,926 | -1.8% |
| Plant, machinery and equipment | 23 | €182,181 | €148,548 | -€33,633 | -18.5% |
| Financial fixed assets | 28 | €1,351,986 | €1,206,285 | -€145,701 | -10.8% |
| Affiliated companies | 280/1 | €1,351,986 | €1,206,285 | -€145,701 | -10.8% |
| Amounts receivable | 281 | €1,351,986 | €1,206,285 | -€145,701 | -10.8% |
| Current assets | 29/58 | €306,465 | €341,100 | +€34,635 | +11.3% |
| Amounts receivable within one year | 40/41 | €194,418 | €218,078 | +€23,660 | +12.2% |
| Trade receivables | 40 | €35,883 | €72,378 | +€36,495 | +102% |
| Other amounts receivable | 41 | €158,535 | €145,701 | -€12,835 | -8.1% |
| Cash at bank and in hand | 54/58 | €112,047 | €123,022 | +€10,975 | +9.8% |
| Total equity and liabilities | 10/49 | €5,915,395 | €5,696,770 | -€218,625 | -3.7% |
| Equity | 10/15 | €2,828,038 | €3,121,160 | +€293,122 | +10.4% |
| Contributions | 10/11 | €69,321 | €69,321 | = | 0.0% |
| Capital | 10 | €69,321 | €69,321 | = | 0.0% |
| Issued capital | 100 | €69,321 | €69,321 | = | 0.0% |
| Reserves | 13 | €2,758,717 | €3,051,839 | +€293,122 | +10.6% |
| Non-distributable reserves | 130/1 | €6,932 | €6,932 | = | 0.0% |
| Legal reserve | 130 | €6,932 | €6,932 | = | 0.0% |
| Tax-exempt reserves | 132 | €293,055 | €293,055 | = | 0.0% |
| Distributable reserves | 133 | €2,458,730 | €2,751,852 | +€293,122 | +11.9% |
| Amounts payable | 17/49 | €3,087,357 | €2,575,610 | -€511,747 | -16.6% |
| Amounts payable after more than one year | 17 | €1,518,897 | €700,024 | -€818,873 | -53.9% |
| Financial debts | 170/4 | €1,518,897 | €700,024 | -€818,873 | -53.9% |
| Credit institutions | 173 | €1,518,897 | €700,024 | -€818,873 | -53.9% |
| Amounts payable within one year | 42/48 | €1,172,695 | €1,509,136 | +€336,441 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €413,721 | €100,000 | -€313,721 | -75.8% |
| Trade debts | 44 | €18,111 | €20,009 | +€1,898 | +10.5% |
| Suppliers | 440/4 | €18,111 | €20,009 | +€1,898 | +10.5% |
| Taxes, remuneration and social security | 45 | €2,433 | €8,927 | +€6,494 | +267% |
| Taxes | 450/3 | €2,433 | €8,927 | +€6,494 | +267% |
| Other amounts payable | 47/48 | €738,430 | €1,380,200 | +€641,769 | +86.9% |
| Accrued charges and deferred income | 492/3 | €395,764 | €366,450 | -€29,314 | -7.4% |
| Operating income | 70/76A | €648,193 | €695,216 | +€47,022 | +7.3% |
| Turnover | 70 | €576,053 | €618,400 | +€42,347 | +7.4% |
| Other operating income | 74 | €72,140 | €76,815 | +€4,675 | +6.5% |
| Operating charges | 60/66A | €281,865 | €265,922 | -€15,942 | -5.7% |
| Services and other goods | 61 | €119,480 | €92,344 | -€27,135 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,776 | €107,560 | -€13,217 | -10.9% |
| Other operating charges | 640/8 | €41,609 | €66,019 | +€24,410 | +58.7% |
| Operating profit (loss) | 9901 | €366,329 | €429,293 | +€62,965 | +17.2% |
| Financial income | 75/76B | €36,066 | €33,683 | -€2,384 | -6.6% |
| Recurring financial income | 75 | €36,066 | €33,683 | -€2,384 | -6.6% |
| Income from current assets | 751 | €36,066 | €33,683 | -€2,384 | -6.6% |
| Financial charges | 65/66B | €74,477 | €72,174 | -€2,303 | -3.1% |
| Recurring financial charges | 65 | €74,477 | €72,174 | -€2,303 | -3.1% |
| Debt charges | 650 | €73,667 | €72,174 | -€1,493 | -2.0% |
| Other financial charges | 652/9 | €810 | - | -€810 | |
| Profit (loss) for the period before taxes | 9903 | €327,918 | €390,802 | +€62,883 | +19.2% |
| Income taxes | 67/77 | €82,684 | €97,680 | +€14,996 | +18.1% |
| Taxes | 670/3 | €82,684 | €97,700 | +€15,016 | +18.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €20 | +€20 | |
| Profit (loss) for the period | 9904 | €245,234 | €293,122 | +€47,888 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €245,234 | €293,122 | +€47,888 | +19.5% |
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 30 October 2026 via checked.be.