COGAR: what changed
Two fiscal 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.
COGAR
Largest movements
- Tangible fixed assets -€13,852
down €13,852 (-48.4%), from €28,592 to €14,740
of which Leasing and similar rights: -€13,569
- Cash +€6,812
up €6,812 (+151.3%), from €4,501 to €11,313
mainly Depreciation (+€13,852) and Trade debts (+€3,453)
- Receivables within one year -€1,587
down €1,587 (-72.0%), from €2,203 to €617
of which Other amounts receivable: -€1,465
- Debts after one year -€10,730
down €10,730 (-94.8%), from €11,320 to €590
- Trade debts +€3,453
up €3,453 (+9.7%), from €35,597 to €39,050
- Profit (loss) carried forward -€2,145
down €2,145, from €2,034 to -€111
- Tax, wage and social debts -€1,291
down €1,291 (-21.4%), from €6,030 to €4,739
of which Remuneration and social security: -€1,012
- Current portion of long-term debt +€1,009
up €1,009 (+10.4%), from €9,722 to €10,730
- Staff costs +€2,312
up €2,312 (+4.3%), from €53,486 to €55,798
- Depreciation +€1,038
up €1,038 (+8.1%), from €12,814 to €13,852
- Gross operating margin -€873
down €873 (-1.2%), from €73,552 to €72,679
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.
Cash bridge derived
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 | €85,181 | €75,477 | -€9,704 | -11.4% |
| Fixed assets | 21/28 | €33,241 | €19,389 | -€13,852 | -41.7% |
| Tangible fixed assets | 22/27 | €28,592 | €14,740 | -€13,852 | -48.4% |
| Plant, machinery and equipment | 23 | €372 | €88 | -€283 | -76.3% |
| Leasing and similar rights | 25 | €28,221 | €14,652 | -€13,569 | -48.1% |
| Financial fixed assets | 28 | €4,649 | €4,649 | = | 0.0% |
| Current assets | 29/58 | €51,940 | €56,088 | +€4,148 | +8.0% |
| Stocks and contracts in progress | 3 | €41,828 | €41,279 | -€549 | -1.3% |
| Stocks | 30/36 | €41,828 | €41,279 | -€549 | -1.3% |
| Amounts receivable within one year | 40/41 | €2,203 | €617 | -€1,587 | -72.0% |
| Trade receivables | 40 | €121 | - | -€121 | |
| Other amounts receivable | 41 | €2,082 | €617 | -€1,465 | -70.4% |
| Cash at bank and in hand | 54/58 | €4,501 | €11,313 | +€6,812 | +151.3% |
| Deferred charges and accrued income | 490/1 | €3,408 | €2,879 | -€529 | -15.5% |
| Total equity and liabilities | 10/49 | €85,181 | €75,477 | -€9,704 | -11.4% |
| Equity | 10/15 | €22,494 | €20,349 | -€2,145 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,034 | -€111 | -€2,145 | |
| Amounts payable | 17/49 | €62,687 | €55,128 | -€7,559 | -12.1% |
| Amounts payable after more than one year | 17 | €11,320 | €590 | -€10,730 | -94.8% |
| Financial debts | 170/4 | €11,320 | €590 | -€10,730 | -94.8% |
| Amounts payable within one year | 42/48 | €51,368 | €54,539 | +€3,171 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €9,722 | €10,730 | +€1,009 | +10.4% |
| Trade debts | 44 | €35,597 | €39,050 | +€3,453 | +9.7% |
| Suppliers | 440/4 | €35,597 | €39,050 | +€3,453 | +9.7% |
| Taxes, remuneration and social security | 45 | €6,030 | €4,739 | -€1,291 | -21.4% |
| Taxes | 450/3 | €801 | €522 | -€278 | -34.8% |
| Remuneration and social security | 454/9 | €5,229 | €4,217 | -€1,012 | -19.4% |
| Other amounts payable | 47/48 | €20 | €20 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €53,486 | €55,798 | +€2,312 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,814 | €13,852 | +€1,038 | +8.1% |
| Other operating charges | 640/8 | €1,779 | €1,513 | -€266 | -14.9% |
| Gross operating margin | 9900 | €73,552 | €72,679 | -€873 | -1.2% |
| Operating profit (loss) | 9901 | €5,474 | €1,516 | -€3,958 | -72.3% |
| Financial income | 75/76B | €5 | €2 | -€3 | -60.7% |
| Recurring financial income | 75 | €5 | €2 | -€3 | -60.7% |
| Financial charges | 65/66B | €2,173 | €1,520 | -€654 | -30.1% |
| Recurring financial charges | 65 | €2,173 | €1,520 | -€654 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €3,306 | -€2 | -€3,308 | |
| Income taxes | 67/77 | €1,495 | €2,144 | +€649 | +43.4% |
| Profit (loss) for the period | 9904 | €1,811 | -€2,145 | -€3,957 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,811 | -€2,145 | -€3,957 |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.