COGELS: 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.
COGELS
Largest movements
- Receivables within one year -€36,060
down €36,060 (-84.3%), from €42,800 to €6,740
of which Trade receivables: -€32,084
- Stocks and contracts +€6,159
up €6,159 (+3.5%), from €175,217 to €181,376
- Tangible fixed assets -€5,845
down €5,845 (-15.2%), from €38,456 to €32,610
of which Land and buildings: -€3,600
- Profit (loss) carried forward -€16,800
down €16,800 (-402%), from -€4,183 to -€20,983
- Trade debts -€8,904
down €8,904 (-35.5%), from €25,049 to €16,144
- Short-term financial debts -€5,661
down €5,661 (-70.7%), from €8,002 to €2,341
- Tax, wage and social debts -€3,615
down €3,615 (-97.2%), from €3,718 to €103
- Gross operating margin -€18,804
down €18,804, from €17,579 to -€1,225
- Write-downs -€3,376
down €3,376 (-49.7%), from €6,788 to €3,412
- Other operating charges +€702
up €702 (+14.5%), from €4,835 to €5,536
- Financial charges +€658
up €658 (+388%), from €169 to €827
- Depreciation -€339
down €339 (-5.5%), from €6,184 to €5,845
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.
Derived cash bridge
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 | €265,232 | €229,590 | -€35,643 | -13.4% |
| Fixed assets | 21/28 | €38,699 | €32,854 | -€5,845 | -15.1% |
| Tangible fixed assets | 22/27 | €38,456 | €32,610 | -€5,845 | -15.2% |
| Land and buildings | 22 | €29,900 | €26,300 | -€3,600 | -12.0% |
| Plant, machinery and equipment | 23 | €8,556 | €6,310 | -€2,245 | -26.2% |
| Financial fixed assets | 28 | €243 | €243 | = | 0.0% |
| Current assets | 29/58 | €226,533 | €196,736 | -€29,797 | -13.2% |
| Stocks and contracts in progress | 3 | €175,217 | €181,376 | +€6,159 | +3.5% |
| Stocks | 30/36 | €175,217 | €181,376 | +€6,159 | +3.5% |
| Amounts receivable within one year | 40/41 | €42,800 | €6,740 | -€36,060 | -84.3% |
| Trade receivables | 40 | €32,253 | €169 | -€32,084 | -99.5% |
| Other amounts receivable | 41 | €10,547 | €6,571 | -€3,977 | -37.7% |
| Current investments | 50/53 | €744 | €744 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,773 | €7,876 | +€104 | +1.3% |
| Total equity and liabilities | 10/49 | €265,232 | €229,590 | -€35,643 | -13.4% |
| Equity | 10/15 | €125,754 | €108,954 | -€16,800 | -13.4% |
| Contributions | 10/11 | €117,000 | €117,000 | = | 0.0% |
| Reserves | 13 | €12,937 | €12,937 | = | 0.0% |
| Distributable reserves | 133 | €12,937 | €12,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,183 | -€20,983 | -€16,800 | -402% |
| Amounts payable | 17/49 | €139,478 | €120,636 | -€18,842 | -13.5% |
| Amounts payable after more than one year | 17 | €56,118 | €56,118 | = | 0.0% |
| Financial debts | 170/4 | €56,118 | €56,118 | = | 0.0% |
| Amounts payable within one year | 42/48 | €83,360 | €64,518 | -€18,842 | -22.6% |
| Financial debts | 43 | €8,002 | €2,341 | -€5,661 | -70.7% |
| Credit institutions | 430/8 | €8,002 | €2,341 | -€5,661 | -70.7% |
| Trade debts | 44 | €25,049 | €16,144 | -€8,904 | -35.5% |
| Suppliers | 440/4 | €25,049 | €16,144 | -€8,904 | -35.5% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €3,718 | €103 | -€3,615 | -97.2% |
| Taxes | 450/3 | €3,718 | €103 | -€3,615 | -97.2% |
| Other amounts payable | 47/48 | €46,592 | €44,929 | -€1,663 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,184 | €5,845 | -€339 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,788 | €3,412 | -€3,376 | -49.7% |
| Other operating charges | 640/8 | €4,835 | €5,536 | +€702 | +14.5% |
| Gross operating margin | 9900 | €17,579 | -€1,225 | -€18,804 | |
| Operating profit (loss) | 9901 | -€228 | -€16,019 | -€15,791 | -6,925% |
| Financial income | 75/76B | €123 | €45 | -€78 | -63.2% |
| Recurring financial income | 75 | €123 | €45 | -€78 | -63.2% |
| Financial charges | 65/66B | €169 | €827 | +€658 | +388% |
| Recurring financial charges | 65 | €169 | €827 | +€658 | +388% |
| Profit (loss) for the period before taxes | 9903 | -€274 | -€16,800 | -€16,526 | -6,031% |
| Income taxes | 67/77 | -€0 | - | +€0 | |
| Profit (loss) for the period | 9904 | -€274 | -€16,800 | -€16,526 | -6,032% |
| Profit (loss) for the period to be appropriated | 9905 | -€274 | -€16,800 | -€16,526 | -6,032% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.