COGENERIS: 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.
COGENERIS
Largest movements
- Current investments -€2,345
down €2,345 (-92.7%), from €2,529 to €185
- Cash +€302
up €302 (+108%), from €279 to €580
mainly Current investments (+€2,345)
- Profit (loss) carried forward -€882
down €882 (-1.6%), from -€56,267 to -€57,149
- Other debts -€839
down €839 (-2.2%), from €38,294 to €37,454
- Trade debts -€322
down €322 (-100%), from €322 to €0
- Gross operating margin -€468
down €468 (-66.0%), from -€709 to -€1,176
- Purchases and services +€468
up €468 (+66.0%), from €709 to €1,176
- Financial income +€395
up €395 (+1,934%), from €20 to €416
of which Non-recurring financial income: +€387
- Depreciation -€134
no longer reported in 2025 (was €134)
- Financial charges -€76
down €76 (-38.4%), from €197 to €121
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 | €2,808 | €765 | -€2,043 | -72.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €2,808 | €765 | -€2,043 | -72.7% |
| Current investments | 50/53 | €2,529 | €185 | -€2,345 | -92.7% |
| Cash at bank and in hand | 54/58 | €279 | €580 | +€302 | +108% |
| Total equity and liabilities | 10/49 | €2,808 | €765 | -€2,043 | -72.7% |
| Equity | 10/15 | -€35,807 | -€36,689 | -€882 | -2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,267 | -€57,149 | -€882 | -1.6% |
| Amounts payable | 17/49 | €38,615 | €37,454 | -€1,161 | -3.0% |
| Amounts payable within one year | 42/48 | €38,615 | €37,454 | -€1,161 | -3.0% |
| Trade debts | 44 | €322 | €0 | -€322 | -100% |
| Suppliers | 440/4 | €322 | €0 | -€322 | -100% |
| Other amounts payable | 47/48 | €38,294 | €37,454 | -€839 | -2.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €709 | €1,176 | +€468 | +66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134 | - | -€134 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Gross operating margin | 9900 | -€709 | -€1,176 | -€468 | -66.0% |
| Operating profit (loss) | 9901 | -€843 | -€1,176 | -€334 | -39.6% |
| Financial income | 75/76B | €20 | €416 | +€395 | +1,934% |
| Recurring financial income | 75 | €20 | €28 | +€8 | +39.0% |
| Non-recurring financial income | 76B | - | €387 | +€387 | |
| Financial charges | 65/66B | €197 | €121 | -€76 | -38.4% |
| Recurring financial charges | 65 | €197 | €121 | -€76 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,019 | -€882 | +€137 | +13.5% |
| Profit (loss) for the period | 9904 | -€1,019 | -€882 | +€137 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,019 | -€882 | +€137 | +13.5% |
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 14 October 2026 via checked.be.