COGECO: 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.
COGECO
Largest movements
- Tangible fixed assets -€9,179
down €9,179 (-12.8%), from €71,432 to €62,253
of which Furniture and vehicles: -€12,696
- Receivables within one year +€9,090
up €9,090 (+435%), from €2,091 to €11,181
of which Other amounts receivable: +€11,181
- Cash +€8,513
up €8,513 (+11.3%), from €75,182 to €83,695
mainly Depreciation (+€9,178) and Tax, wage and social debts (+€6,767)
- Tax, wage and social debts +€6,767
up €6,767 (+596%), from €1,136 to €7,903
- Profit (loss) carried forward +€6,745
up €6,745 (+32.9%), from -€20,499 to -€13,754
- Debts after one year -€6,200
down €6,200 (-9.2%), from €67,035 to €60,835
of which Financial debts: -€5,000
- Trade debts +€4,610
up €4,610 (+523%), from €882 to €5,492
- Other debts -€3,289
down €3,289 (-18.1%), from €18,156 to €14,867
- Gross operating margin +€16,703
up €16,703 (+106%), from €15,748 to €32,451
- Taxes +€7,618
up €7,618 (+1,307%), from €583 to €8,201
- Depreciation -€1,324
down €1,324 (-12.6%), from €10,502 to €9,178
- Other operating charges +€867
up €867 (+13.4%), from €6,460 to €7,327
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 | €150,959 | €158,889 | +€7,930 | +5.3% |
| Fixed assets | 21/28 | €71,432 | €62,253 | -€9,179 | -12.8% |
| Tangible fixed assets | 22/27 | €71,432 | €62,253 | -€9,179 | -12.8% |
| Land and buildings | 22 | €43,436 | €39,258 | -€4,178 | -9.6% |
| Furniture and vehicles | 24 | €12,696 | - | -€12,696 | |
| Leasing and similar rights | 25 | €15,300 | €10,015 | -€5,285 | -34.5% |
| Other tangible fixed assets | 26 | - | €12,980 | +€12,980 | |
| Current assets | 29/58 | €79,527 | €96,636 | +€17,109 | +21.5% |
| Amounts receivable within one year | 40/41 | €2,091 | €11,181 | +€9,090 | +435% |
| Trade receivables | 40 | €2,091 | - | -€2,091 | |
| Other amounts receivable | 41 | - | €11,181 | +€11,181 | |
| Cash at bank and in hand | 54/58 | €75,182 | €83,695 | +€8,513 | +11.3% |
| Deferred charges and accrued income | 490/1 | €2,254 | €1,760 | -€494 | -21.9% |
| Total equity and liabilities | 10/49 | €150,959 | €158,889 | +€7,930 | +5.3% |
| Equity | 10/15 | €58,280 | €65,025 | +€6,745 | +11.6% |
| Revaluation surpluses | 12 | €68,122 | €68,122 | = | 0.0% |
| Reserves | 13 | €10,657 | €10,657 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,580 | €1,580 | = | 0.0% |
| Legal reserve | 130 | €1,580 | - | -€1,580 | |
| Reserves not available under the articles | 1311 | - | €1,580 | +€1,580 | |
| Tax-exempt reserves | 132 | €9,077 | €9,077 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,499 | -€13,754 | +€6,745 | +32.9% |
| Amounts payable | 17/49 | €92,679 | €93,864 | +€1,185 | +1.3% |
| Amounts payable after more than one year | 17 | €67,035 | €60,835 | -€6,200 | -9.2% |
| Financial debts | 170/4 | €9,575 | €4,575 | -€5,000 | -52.2% |
| Other amounts payable | 178/9 | €57,460 | €56,260 | -€1,200 | -2.1% |
| Amounts payable within one year | 42/48 | €25,644 | €33,029 | +€7,385 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €5,470 | €4,767 | -€703 | -12.9% |
| Trade debts | 44 | €882 | €5,492 | +€4,610 | +523% |
| Suppliers | 440/4 | €882 | €5,492 | +€4,610 | +523% |
| Taxes, remuneration and social security | 45 | €1,136 | €7,903 | +€6,767 | +596% |
| Taxes | 450/3 | €1,136 | €7,903 | +€6,767 | +596% |
| Other amounts payable | 47/48 | €18,156 | €14,867 | -€3,289 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,502 | €9,178 | -€1,324 | -12.6% |
| Other operating charges | 640/8 | €6,460 | €7,327 | +€867 | +13.4% |
| Gross operating margin | 9900 | €15,748 | €32,451 | +€16,703 | +106% |
| Operating profit (loss) | 9901 | -€1,214 | €15,946 | +€17,160 | |
| Financial charges | 65/66B | €1,264 | €1,000 | -€264 | -20.9% |
| Recurring financial charges | 65 | €1,264 | €1,000 | -€264 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,478 | €14,946 | +€17,424 | |
| Income taxes | 67/77 | €583 | €8,201 | +€7,618 | +1,307% |
| Profit (loss) for the period | 9904 | -€3,061 | €6,745 | +€9,806 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,061 | €6,745 | +€9,806 |
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 15 October 2026 via checked.be.