COGENIUS: 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.
COGENIUS
Largest movements
- Cash +€551,592
up €551,592 (+441.2%), from €125,032 to €676,623
mainly Net result for the year (+€1.2m) and Depreciation (+€109,015)
- Receivables within one year +€385,632
up €385,632 (+91.9%), from €419,789 to €805,421
of which Trade receivables: +€407,552
- Current investments +€210,000
up €210,000 (+35.0%), from €600,000 to €810,000
- Receivables after one year +€200,000
new in 2025: €200,000
- Intangible fixed assets -€103,267
down €103,267 (-55.7%), from €185,298 to €82,031
- Reserves +€1.2m
up €1.2m (+109.4%), from €1.1m to €2.3m
of which Distributable reserves: +€1.2m
- Other debts -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Trade debts +€105,535
up €105,535 (+61.5%), from €171,731 to €277,266
- Tax, wage and social debts +€97,384
up €97,384 (+86.7%), from €112,320 to €209,704
of which Taxes: +€77,200
- Gross operating margin +€1.1m
up €1.1m (+69.6%), from €1.5m to €2.6m
- Staff costs +€278,847
up €278,847 (+36.4%), from €765,478 to €1.0m
- Taxes +€75,956
up €75,956 (+76.2%), from €99,736 to €175,692
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 | €1,524,214 | €2,791,424 | +€1.3m | +83.1% |
| Fixed assets | 21/28 | €336,226 | €240,059 | -€96,167 | -28.6% |
| Intangible fixed assets | 21 | €185,298 | €82,031 | -€103,267 | -55.7% |
| Tangible fixed assets | 22/27 | €13,499 | €20,598 | +€7,099 | +52.6% |
| Furniture and vehicles | 24 | €13,499 | €20,598 | +€7,099 | +52.6% |
| Financial fixed assets | 28 | €137,430 | €137,430 | = | 0.0% |
| Current assets | 29/58 | €1,187,987 | €2,551,365 | +€1.4m | +114.8% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €419,789 | €805,421 | +€385,632 | +91.9% |
| Trade receivables | 40 | €397,869 | €805,421 | +€407,552 | +102.4% |
| Other amounts receivable | 41 | €21,919 | €0 | -€21,919 | -100.0% |
| Current investments | 50/53 | €600,000 | €810,000 | +€210,000 | +35.0% |
| Cash at bank and in hand | 54/58 | €125,032 | €676,623 | +€551,592 | +441.2% |
| Deferred charges and accrued income | 490/1 | €43,167 | €59,321 | +€16,154 | +37.4% |
| Total equity and liabilities | 10/49 | €1,524,214 | €2,791,424 | +€1.3m | +83.1% |
| Equity | 10/15 | €1,112,795 | €2,304,298 | +€1.2m | +107.1% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €1,088,795 | €2,280,298 | +€1.2m | +109.4% |
| Non-distributable reserves | 130/1 | €2,400 | €2,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,400 | €2,400 | = | 0.0% |
| Distributable reserves | 133 | €1,086,395 | €2,277,898 | +€1.2m | +109.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €411,419 | €487,126 | +€75,707 | +18.4% |
| Amounts payable within one year | 42/48 | €409,051 | €486,970 | +€77,919 | +19.0% |
| Trade debts | 44 | €171,731 | €277,266 | +€105,535 | +61.5% |
| Suppliers | 440/4 | €171,731 | €277,266 | +€105,535 | +61.5% |
| Taxes, remuneration and social security | 45 | €112,320 | €209,704 | +€97,384 | +86.7% |
| Taxes | 450/3 | €27,392 | €104,592 | +€77,200 | +281.8% |
| Remuneration and social security | 454/9 | €84,928 | €105,112 | +€20,184 | +23.8% |
| Other amounts payable | 47/48 | €125,000 | €0 | -€125,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,368 | €156 | -€2,212 | -93.4% |
| Non-recurring operating income | 76A | €217 | €0 | -€217 | -100.0% |
| Remuneration, social security and pensions | 62 | €765,478 | €1,044,325 | +€278,847 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,382 | €109,015 | -€15,368 | -12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,660 | +€17,660 | |
| Other operating charges | 640/8 | €16,254 | €19,629 | +€3,375 | +20.8% |
| Gross operating margin | 9900 | €1,512,223 | €2,565,357 | +€1.1m | +69.6% |
| Operating profit (loss) | 9901 | €606,110 | €1,374,729 | +€768,619 | +126.8% |
| Financial income | 75/76B | €7,967 | €11,737 | +€3,770 | +47.3% |
| Recurring financial income | 75 | €7,967 | €11,737 | +€3,770 | +47.3% |
| Financial charges | 65/66B | €9,938 | €19,271 | +€9,332 | +93.9% |
| Recurring financial charges | 65 | €9,938 | €19,271 | +€9,332 | +93.9% |
| Profit (loss) for the period before taxes | 9903 | €604,139 | €1,367,195 | +€763,056 | +126.3% |
| Income taxes | 67/77 | €99,736 | €175,692 | +€75,956 | +76.2% |
| Profit (loss) for the period | 9904 | €504,403 | €1,191,503 | +€687,101 | +136.2% |
| Profit (loss) for the period to be appropriated | 9905 | €504,403 | €1,191,503 | +€687,101 | +136.2% |
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 3 October 2026 via checked.be.