COGE: 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.
COGE
Largest movements
- Intangible fixed assets -€51,408
down €51,408 (-64.3%), from €80,002 to €28,594
- Receivables within one year -€11,059
down €11,059 (-5.8%), from €190,760 to €179,701
of which Trade receivables: -€11,059
- Debts after one year -€52,425
down €52,425 (-35.5%), from €147,525 to €95,101
- Trade debts +€33,621
up €33,621 (+575.6%), from €5,842 to €39,463
- Tax, wage and social debts -€23,439
down €23,439 (-36.3%), from €64,510 to €41,071
of which Taxes: -€23,402
- Current portion of long-term debt -€14,496
down €14,496 (-16.8%), from €86,309 to €71,813
- Accrued charges and deferred income -€7,228
down €7,228 (-100.0%), from €7,228 to €0
- Purchases and services +€18,875
up €18,875 (+9.5%), from €199,481 to €218,356
- Gross operating margin -€11,862
down €11,862 (-12.1%), from €98,437 to €86,575
- Turnover +€11,650
up €11,650 (+4.0%), from €288,406 to €300,056
- Financial charges -€6,235
down €6,235 (-29.2%), from €21,336 to €15,100
- Other operating charges -€3,340
down €3,340 (-78.2%), from €4,273 to €933
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 | €272,806 | €210,093 | -€62,713 | -23.0% |
| Fixed assets | 21/28 | €80,122 | €29,010 | -€51,112 | -63.8% |
| Intangible fixed assets | 21 | €80,002 | €28,594 | -€51,408 | -64.3% |
| Tangible fixed assets | 22/27 | €119 | €415 | +€296 | +248.3% |
| Furniture and vehicles | 24 | €119 | €415 | +€296 | +248.3% |
| Current assets | 29/58 | €192,684 | €181,083 | -€11,601 | -6.0% |
| Amounts receivable within one year | 40/41 | €190,760 | €179,701 | -€11,059 | -5.8% |
| Trade receivables | 40 | €190,760 | €179,701 | -€11,059 | -5.8% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €1,527 | €332 | -€1,195 | -78.3% |
| Deferred charges and accrued income | 490/1 | €397 | €1,050 | +€653 | +164.5% |
| Total equity and liabilities | 10/49 | €272,806 | €210,093 | -€62,713 | -23.0% |
| Equity | 10/15 | -€38,608 | -€37,355 | +€1,253 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,208 | -€55,955 | +€1,253 | +2.2% |
| Amounts payable | 17/49 | €311,414 | €247,448 | -€63,966 | -20.5% |
| Amounts payable after more than one year | 17 | €147,525 | €95,101 | -€52,425 | -35.5% |
| Financial debts | 170/4 | €147,525 | €95,101 | -€52,425 | -35.5% |
| Amounts payable within one year | 42/48 | €156,661 | €152,347 | -€4,314 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €86,309 | €71,813 | -€14,496 | -16.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,842 | €39,463 | +€33,621 | +575.6% |
| Suppliers | 440/4 | €5,842 | €39,463 | +€33,621 | +575.6% |
| Taxes, remuneration and social security | 45 | €64,510 | €41,071 | -€23,439 | -36.3% |
| Taxes | 450/3 | €62,071 | €38,668 | -€23,402 | -37.7% |
| Remuneration and social security | 454/9 | €2,439 | €2,402 | -€37 | -1.5% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €7,228 | €0 | -€7,228 | -100.0% |
| Turnover | 70 | €288,406 | €300,056 | +€11,650 | +4.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €199,481 | €218,356 | +€18,875 | +9.5% |
| Remuneration, social security and pensions | 62 | €14,800 | €17,039 | +€2,240 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,577 | €51,632 | +€55 | +0.1% |
| Other operating charges | 640/8 | €4,273 | €933 | -€3,340 | -78.2% |
| Non-recurring operating charges | 66A | - | €585 | +€585 | |
| Gross operating margin | 9900 | €98,437 | €86,575 | -€11,862 | -12.1% |
| Operating profit (loss) | 9901 | €27,787 | €16,387 | -€11,401 | -41.0% |
| Financial income | 75/76B | €385 | €1 | -€385 | -99.8% |
| Recurring financial income | 75 | €385 | €1 | -€385 | -99.8% |
| Financial charges | 65/66B | €21,336 | €15,100 | -€6,235 | -29.2% |
| Recurring financial charges | 65 | €21,336 | €15,100 | -€6,235 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €6,837 | €1,287 | -€5,550 | -81.2% |
| Income taxes | 67/77 | €2 | €34 | +€32 | +2145.7% |
| Profit (loss) for the period | 9904 | €6,836 | €1,253 | -€5,583 | -81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,836 | €1,253 | -€5,583 | -81.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.