COGELO BIS: 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.
COGELO BIS
Largest movements
- Tangible fixed assets +€6.3m
up €6.3m (+521%), from €1.2m to €7.5m
- Receivables within one year +€358,540
up €358,540 (+65.0%), from €551,757 to €910,297
of which Other amounts receivable: +€358,540
- Cash -€111,846
down €111,846 (-93.4%), from €119,715 to €7,869
mainly Investment in fixed assets (net) (-€6.5m) and Receivables within one year (-€358,540)
- Revaluation surpluses +€6.5m
new in 2025: €6.5m
- Gross operating margin +€26,557
up €26,557 (+7.4%), from €357,220 to €383,777
- Financial income +€6,325
up €6,325 (+47.9%), from €13,194 to €19,519
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 | €1,876,807 | €8,398,167 | +€6.5m | +347% |
| Fixed assets | 21/28 | €1,205,335 | €7,480,000 | +€6.3m | +521% |
| Tangible fixed assets | 22/27 | €1,205,335 | €7,480,000 | +€6.3m | +521% |
| Other tangible fixed assets | 26 | €1,205,335 | €7,480,000 | +€6.3m | +521% |
| Current assets | 29/58 | €671,472 | €918,167 | +€246,695 | +36.7% |
| Amounts receivable within one year | 40/41 | €551,757 | €910,297 | +€358,540 | +65.0% |
| Trade receivables | 40 | €10,871 | €10,871 | = | 0.0% |
| Other amounts receivable | 41 | €540,886 | €899,426 | +€358,540 | +66.3% |
| Cash at bank and in hand | 54/58 | €119,715 | €7,869 | -€111,846 | -93.4% |
| Total equity and liabilities | 10/49 | €1,876,807 | €8,398,167 | +€6.5m | +347% |
| Equity | 10/15 | €1,561,205 | €8,047,425 | +€6.5m | +415% |
| Contributions | 10/11 | €1,428,400 | €1,428,400 | = | 0.0% |
| Revaluation surpluses | 12 | - | €6,483,771 | +€6.5m | |
| Reserves | 13 | €14,300 | €14,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,300 | €14,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,300 | €14,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,505 | €120,954 | +€2,449 | +2.1% |
| Amounts payable | 17/49 | €315,602 | €350,741 | +€35,139 | +11.1% |
| Amounts payable after more than one year | 17 | €184,510 | €184,510 | = | 0.0% |
| Other amounts payable | 178/9 | €184,510 | €184,510 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,092 | €166,232 | +€35,139 | +26.8% |
| Trade debts | 44 | €5,597 | €5,030 | -€567 | -10.1% |
| Suppliers | 440/4 | €5,597 | €5,030 | -€567 | -10.1% |
| Taxes, remuneration and social security | 45 | €1,934 | €1,069 | -€865 | -44.7% |
| Taxes | 450/3 | €1,934 | €1,069 | -€865 | -44.7% |
| Other amounts payable | 47/48 | €123,561 | €160,133 | +€36,572 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,366 | €209,106 | -€259 | -0.1% |
| Other operating charges | 640/8 | €39,412 | €40,649 | +€1,237 | +3.1% |
| Gross operating margin | 9900 | €357,220 | €383,777 | +€26,557 | +7.4% |
| Operating profit (loss) | 9901 | €108,443 | €134,022 | +€25,579 | +23.6% |
| Financial income | 75/76B | €13,194 | €19,519 | +€6,325 | +47.9% |
| Recurring financial income | 75 | €13,194 | €19,519 | +€6,325 | +47.9% |
| Financial charges | 65/66B | €13 | €23 | +€10 | +74.6% |
| Recurring financial charges | 65 | €13 | €23 | +€10 | +74.6% |
| Profit (loss) for the period before taxes | 9903 | €121,623 | €153,518 | +€31,895 | +26.2% |
| Income taxes | 67/77 | €1,934 | €1,069 | -€865 | -44.7% |
| Profit (loss) for the period | 9904 | €119,689 | €152,449 | +€32,760 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,689 | €152,449 | +€32,760 | +27.4% |
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 16 October 2026 via checked.be.