COGEFI: 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.
COGEFI
Largest movements
- Cash +€72,865
up €72,865 (+31.5%), from €231,480 to €304,345
mainly Net result for the year (+€103,582) and Receivables within one year (+€51,328)
- Receivables within one year -€51,328
down €51,328 (-27.7%), from €185,189 to €133,861
of which Other amounts receivable: -€51,867
- Tangible fixed assets +€40,412
up €40,412 (+47.5%), from €85,035 to €125,447
of which Furniture and vehicles: +€40,685
- Debts after one year +€24,256
up €24,256 (+48.1%), from €50,468 to €74,725
- Tax, wage and social debts -€21,995
down €21,995 (-72.9%), from €30,167 to €8,172
- Reserves +€20,484
up €20,484 (+5.4%), from €376,565 to €397,048
of which Distributable reserves: +€20,484
- Current portion of long-term debt +€17,322
up €17,322 (+74.0%), from €23,422 to €40,744
- Other debts +€14,587
up €14,587 (+217.5%), from €6,707 to €21,294
- Other operating charges +€48,201
up €48,201 (+1958.4%), from €2,461 to €50,662
- Taxes -€14,694
down €14,694 (-25.8%), from €57,057 to €42,363
- Depreciation -€5,551
down €5,551 (-21.7%), from €25,540 to €19,990
- Gross operating margin -€4,747
down €4,747 (-2.1%), from €224,987 to €220,240
- Financial charges +€2,387
up €2,387 (+189.8%), from €1,258 to €3,644
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €503,674 | €567,653 | +€63,979 | +12.7% |
| Fixed assets | 21/28 | €85,035 | €125,447 | +€40,412 | +47.5% |
| Tangible fixed assets | 22/27 | €85,035 | €125,447 | +€40,412 | +47.5% |
| Plant, machinery and equipment | 23 | €817 | €545 | -€272 | -33.3% |
| Furniture and vehicles | 24 | €84,218 | €124,903 | +€40,685 | +48.3% |
| Current assets | 29/58 | €418,639 | €442,206 | +€23,567 | +5.6% |
| Amounts receivable within one year | 40/41 | €185,189 | €133,861 | -€51,328 | -27.7% |
| Trade receivables | 40 | €133,322 | €133,861 | +€539 | +0.4% |
| Other amounts receivable | 41 | €51,867 | - | -€51,867 | |
| Cash at bank and in hand | 54/58 | €231,480 | €304,345 | +€72,865 | +31.5% |
| Deferred charges and accrued income | 490/1 | €1,970 | €4,000 | +€2,030 | +103.0% |
| Total equity and liabilities | 10/49 | €503,674 | €567,653 | +€63,979 | +12.7% |
| Equity | 10/15 | €382,765 | €403,248 | +€20,484 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €376,565 | €397,048 | +€20,484 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €374,705 | €395,188 | +€20,484 | +5.5% |
| Amounts payable | 17/49 | €120,909 | €164,405 | +€43,495 | +36.0% |
| Amounts payable after more than one year | 17 | €50,468 | €74,725 | +€24,256 | +48.1% |
| Financial debts | 170/4 | €50,468 | €74,725 | +€24,256 | +48.1% |
| Amounts payable within one year | 42/48 | €70,441 | €89,680 | +€19,239 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €23,422 | €40,744 | +€17,322 | +74.0% |
| Trade debts | 44 | €10,145 | €19,470 | +€9,326 | +91.9% |
| Suppliers | 440/4 | €10,145 | €19,470 | +€9,326 | +91.9% |
| Taxes, remuneration and social security | 45 | €30,167 | €8,172 | -€21,995 | -72.9% |
| Taxes | 450/3 | €30,167 | €8,172 | -€21,995 | -72.9% |
| Other amounts payable | 47/48 | €6,707 | €21,294 | +€14,587 | +217.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,540 | €19,990 | -€5,551 | -21.7% |
| Other operating charges | 640/8 | €2,461 | €50,662 | +€48,201 | +1958.4% |
| Gross operating margin | 9900 | €224,987 | €220,240 | -€4,747 | -2.1% |
| Operating profit (loss) | 9901 | €196,986 | €149,589 | -€47,397 | -24.1% |
| Financial charges | 65/66B | €1,258 | €3,644 | +€2,387 | +189.8% |
| Recurring financial charges | 65 | €1,258 | €3,644 | +€2,387 | +189.8% |
| Profit (loss) for the period before taxes | 9903 | €195,728 | €145,944 | -€49,784 | -25.4% |
| Income taxes | 67/77 | €57,057 | €42,363 | -€14,694 | -25.8% |
| Profit (loss) for the period | 9904 | €138,671 | €103,582 | -€35,089 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €138,671 | €103,582 | -€35,089 | -25.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.