COGEDIS: 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.
COGEDIS
Largest movements
- Intangible fixed assets -€6,000
no longer reported in 2025 (was €6,000)
- Tangible fixed assets -€785
down €785 (-66.7%), from €1,177 to €392
- Cash -€208
down €208 (-18.8%), from €1,103 to €895
mainly Trade debts (-€8,120) and Net result for the year (-€4,148)
- Trade debts -€8,120
down €8,120 (-85.4%), from €9,504 to €1,385
- Other debts +€5,740
up €5,740 (+3.9%), from €146,823 to €152,563
- Profit (loss) carried forward -€4,148
down €4,148 (-2.5%), from -€166,919 to -€171,068
- Accrued charges and deferred income -€387
no longer reported in 2025 (was €387)
- Staff costs -€15,378
no longer reported in 2025 (was €15,378)
- Gross operating margin +€4,091
up €4,091, from -€375 to €3,716
- Depreciation -€3,688
down €3,688 (-35.2%), from €10,473 to €6,785
- Financial charges -€2,254
down €2,254 (-76.8%), from €2,934 to €680
- Financial income -€51
no longer reported in 2025 (was €51)
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 | €8,510 | €1,592 | -€6,918 | -81.3% |
| Fixed assets | 21/28 | €7,177 | €392 | -€6,785 | -94.5% |
| Intangible fixed assets | 21 | €6,000 | - | -€6,000 | |
| Tangible fixed assets | 22/27 | €1,177 | €392 | -€785 | -66.7% |
| Plant, machinery and equipment | 23 | €1,177 | €392 | -€785 | -66.7% |
| Current assets | 29/58 | €1,333 | €1,200 | -€133 | -10.0% |
| Amounts receivable within one year | 40/41 | €230 | €257 | +€27 | +11.8% |
| Trade receivables | 40 | - | €110 | +€110 | |
| Other amounts receivable | 41 | €230 | €147 | -€83 | -36.1% |
| Cash at bank and in hand | 54/58 | €1,103 | €895 | -€208 | -18.8% |
| Deferred charges and accrued income | 490/1 | - | €48 | +€48 | |
| Total equity and liabilities | 10/49 | €8,510 | €1,592 | -€6,918 | -81.3% |
| Equity | 10/15 | -€148,319 | -€152,468 | -€4,148 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,919 | -€171,068 | -€4,148 | -2.5% |
| Amounts payable | 17/49 | €156,829 | €154,060 | -€2,770 | -1.8% |
| Amounts payable within one year | 42/48 | €156,442 | €154,060 | -€2,382 | -1.5% |
| Trade debts | 44 | €9,504 | €1,385 | -€8,120 | -85.4% |
| Suppliers | 440/4 | €9,504 | €1,385 | -€8,120 | -85.4% |
| Taxes, remuneration and social security | 45 | €114 | €112 | -€2 | -2.0% |
| Taxes | 450/3 | €114 | €112 | -€2 | -2.0% |
| Other amounts payable | 47/48 | €146,823 | €152,563 | +€5,740 | +3.9% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Remuneration, social security and pensions | 62 | €15,378 | - | -€15,378 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,473 | €6,785 | -€3,688 | -35.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€375 | €3,716 | +€4,091 | |
| Operating profit (loss) | 9901 | -€26,613 | -€3,468 | +€23,145 | +87.0% |
| Financial income | 75/76B | €51 | - | -€51 | |
| Recurring financial income | 75 | €51 | - | -€51 | |
| Financial charges | 65/66B | €2,934 | €680 | -€2,254 | -76.8% |
| Recurring financial charges | 65 | €2,934 | €680 | -€2,254 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,496 | -€4,148 | +€25,347 | +85.9% |
| Profit (loss) for the period | 9904 | -€29,496 | -€4,148 | +€25,347 | +85.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,496 | -€4,148 | +€25,347 | +85.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.