COGEFUN: 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.
COGEFUN
Largest movements
- Receivables within one year -€16,393
down €16,393 (-29.4%), from €55,754 to €39,361
of which Other amounts receivable: -€9,403
- Tangible fixed assets +€9,010
up €9,010 (+189.1%), from €4,763 to €13,773
of which Furniture and vehicles: +€8,585
- Stocks and contracts +€3,780
up €3,780 (+84.1%), from €4,497 to €8,276
- Cash +€3,145
up €3,145 (+17.0%), from €18,472 to €21,617
mainly Receivables within one year (+€16,393) and Net result for the year (+€9,775)
- Other debts -€10,000
down €10,000 (-66.7%), from €15,000 to €5,000
- Reserves +€4,000
up €4,000 (+37.7%), from €10,600 to €14,600
- Tax, wage and social debts +€3,548
up €3,548 (+42.5%), from €8,350 to €11,897
of which Taxes: +€3,380
- Trade debts +€1,218
up €1,218 (+11.1%), from €10,954 to €12,173
- Gross operating margin +€6,115
up €6,115 (+44.1%), from €13,868 to €19,983
- Depreciation +€2,836
up €2,836 (+187.1%), from €1,515 to €4,351
- Taxes +€1,230
up €1,230 (+30.5%), from €4,027 to €5,257
- Financial income -€414
down €414 (-26.1%), from €1,582 to €1,169
- Other operating charges -€310
down €310 (-20.4%), from €1,523 to €1,213
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 | €83,536 | €83,077 | -€459 | -0.5% |
| Fixed assets | 21/28 | €4,813 | €13,823 | +€9,010 | +187.2% |
| Tangible fixed assets | 22/27 | €4,763 | €13,773 | +€9,010 | +189.1% |
| Plant, machinery and equipment | 23 | €4,763 | €5,188 | +€425 | +8.9% |
| Furniture and vehicles | 24 | - | €8,585 | +€8,585 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €78,723 | €69,254 | -€9,468 | -12.0% |
| Stocks and contracts in progress | 3 | €4,497 | €8,276 | +€3,780 | +84.1% |
| Stocks | 30/36 | €4,497 | €8,276 | +€3,780 | +84.1% |
| Amounts receivable within one year | 40/41 | €55,754 | €39,361 | -€16,393 | -29.4% |
| Trade receivables | 40 | €30,207 | €23,217 | -€6,990 | -23.1% |
| Other amounts receivable | 41 | €25,547 | €16,144 | -€9,403 | -36.8% |
| Cash at bank and in hand | 54/58 | €18,472 | €21,617 | +€3,145 | +17.0% |
| Total equity and liabilities | 10/49 | €83,536 | €83,077 | -€459 | -0.5% |
| Equity | 10/15 | €47,159 | €51,934 | +€4,775 | +10.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €10,600 | €14,600 | +€4,000 | +37.7% |
| Distributable reserves | 133 | €10,600 | €14,600 | +€4,000 | +37.7% |
| Profit (loss) carried forward | 14 | €5,559 | €6,334 | +€775 | +13.9% |
| Amounts payable | 17/49 | €36,377 | €31,143 | -€5,234 | -14.4% |
| Amounts payable after more than one year | 17 | €2,073 | €2,073 | = | 0.0% |
| Advances received on contracts in progress | 176 | €2,073 | €2,073 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,304 | €29,070 | -€5,234 | -15.3% |
| Trade debts | 44 | €10,954 | €12,173 | +€1,218 | +11.1% |
| Suppliers | 440/4 | €10,954 | €12,173 | +€1,218 | +11.1% |
| Taxes, remuneration and social security | 45 | €8,350 | €11,897 | +€3,548 | +42.5% |
| Taxes | 450/3 | €7,072 | €10,452 | +€3,380 | +47.8% |
| Remuneration and social security | 454/9 | €1,277 | €1,445 | +€168 | +13.2% |
| Other amounts payable | 47/48 | €15,000 | €5,000 | -€10,000 | -66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,515 | €4,351 | +€2,836 | +187.1% |
| Other operating charges | 640/8 | €1,523 | €1,213 | -€310 | -20.4% |
| Gross operating margin | 9900 | €13,868 | €19,983 | +€6,115 | +44.1% |
| Operating profit (loss) | 9901 | €10,830 | €14,419 | +€3,590 | +33.1% |
| Financial income | 75/76B | €1,582 | €1,169 | -€414 | -26.1% |
| Recurring financial income | 75 | €1,582 | €1,169 | -€414 | -26.1% |
| Financial charges | 65/66B | €657 | €557 | -€100 | -15.2% |
| Recurring financial charges | 65 | €657 | €557 | -€100 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €11,755 | €15,032 | +€3,276 | +27.9% |
| Income taxes | 67/77 | €4,027 | €5,257 | +€1,230 | +30.5% |
| Profit (loss) for the period | 9904 | €7,729 | €9,775 | +€2,046 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,729 | €9,775 | +€2,046 | +26.5% |
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 2 October 2026 via checked.be.