COGEMAS: 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.
COGEMAS
Largest movements
- Cash +€16,180
up €16,180 (+61.8%), from €26,188 to €42,369
mainly Net result for the year (+€16,081) and Receivables within one year (+€11,733)
- Receivables within one year -€11,733
down €11,733 (-6.4%), from €183,747 to €172,014
of which Trade receivables: -€9,913
- Profit (loss) carried forward +€16,081
up €16,081 (+62.1%), from -€25,898 to -€9,817
- Tax, wage and social debts -€7,197
down €7,197 (-29.5%), from €24,388 to €17,191
of which Taxes: -€3,997
- Trade debts -€3,195
down €3,195 (-11.7%), from €27,292 to €24,097
- Gross operating margin +€16,688
up €16,688 (+19.3%), from €86,255 to €102,943
- Write-downs -€8,072
down €8,072 (-41.3%), from €19,531 to €11,459
- Staff costs +€5,648
up €5,648 (+9.8%), from €57,477 to €63,125
- Taxes +€4,597
up €4,597 (+72.8%), from €6,319 to €10,916
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 | €211,614 | €216,554 | +€4,939 | +2.3% |
| Fixed assets | 21/28 | €1,679 | €2,171 | +€492 | +29.3% |
| Tangible fixed assets | 22/27 | €789 | €1,281 | +€492 | +62.4% |
| Plant, machinery and equipment | 23 | €789 | €1,281 | +€492 | +62.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €890 | €890 | = | 0.0% |
| Current assets | 29/58 | €209,935 | €214,383 | +€4,447 | +2.1% |
| Amounts receivable within one year | 40/41 | €183,747 | €172,014 | -€11,733 | -6.4% |
| Trade receivables | 40 | €172,525 | €162,612 | -€9,913 | -5.7% |
| Other amounts receivable | 41 | €11,223 | €9,402 | -€1,821 | -16.2% |
| Cash at bank and in hand | 54/58 | €26,188 | €42,369 | +€16,180 | +61.8% |
| Total equity and liabilities | 10/49 | €211,614 | €216,554 | +€4,939 | +2.3% |
| Equity | 10/15 | -€6,898 | €9,183 | +€16,081 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €19,000 | €19,000 | = | 0.0% |
| Other | 1109/19 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,898 | -€9,817 | +€16,081 | +62.1% |
| Amounts payable | 17/49 | €218,513 | €207,371 | -€11,142 | -5.1% |
| Amounts payable within one year | 42/48 | €218,513 | €207,371 | -€11,142 | -5.1% |
| Trade debts | 44 | €27,292 | €24,097 | -€3,195 | -11.7% |
| Suppliers | 440/4 | €27,292 | €24,097 | -€3,195 | -11.7% |
| Taxes, remuneration and social security | 45 | €24,388 | €17,191 | -€7,197 | -29.5% |
| Taxes | 450/3 | €15,039 | €11,043 | -€3,997 | -26.6% |
| Remuneration and social security | 454/9 | €9,349 | €6,148 | -€3,201 | -34.2% |
| Other amounts payable | 47/48 | €166,833 | €166,083 | -€750 | -0.4% |
| Remuneration, social security and pensions | 62 | €57,477 | €63,125 | +€5,648 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €765 | €935 | +€170 | +22.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,531 | €11,459 | -€8,072 | -41.3% |
| Other operating charges | 640/8 | €469 | €472 | +€3 | +0.6% |
| Non-recurring operating charges | 66A | €99 | - | -€99 | |
| Gross operating margin | 9900 | €86,255 | €102,943 | +€16,688 | +19.3% |
| Operating profit (loss) | 9901 | €7,913 | €26,952 | +€19,039 | +241% |
| Financial charges | 65/66B | €47 | -€45 | -€92 | |
| Recurring financial charges | 65 | €47 | -€45 | -€92 | |
| Profit (loss) for the period before taxes | 9903 | €7,866 | €26,997 | +€19,131 | +243% |
| Income taxes | 67/77 | €6,319 | €10,916 | +€4,597 | +72.8% |
| Profit (loss) for the period | 9904 | €1,548 | €16,081 | +€14,534 | +939% |
| Profit (loss) for the period to be appropriated | 9905 | €1,548 | €16,081 | +€14,534 | +939% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.