COGENT: 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.
COGENT
Largest movements
- Receivables within one year -€30,944
down €30,944 (-76.4%), from €40,492 to €9,548
of which Other amounts receivable: -€17,865
- Cash +€7,789
up €7,789 (+18.6%), from €41,821 to €49,610
mainly Receivables within one year (+€30,944) and Other debts (+€9,474)
- Tangible fixed assets -€7,717
down €7,717 (-19.2%), from €40,267 to €32,550
of which Furniture and vehicles: -€7,259
- Deferred charges and accrued income +€6,588
up €6,588 (+427.3%), from €1,542 to €8,130
- Reserves -€26,806
down €26,806 (-27.9%), from €96,030 to €69,224
- Other debts +€9,474
new in 2026: €9,474
- Debts after one year -€5,078
down €5,078 (-49.2%), from €10,323 to €5,245
- Accrued charges and deferred income +€2,991
up €2,991 (+4995.9%), from €60 to €3,050
- Tax, wage and social debts -€2,428
down €2,428 (-54.2%), from €4,484 to €2,056
of which Taxes: -€2,028
- Gross operating margin -€10,539
down €10,539 (-58.5%), from €18,028 to €7,489
- Taxes -€2,548
down €2,548 (-94.7%), from €2,690 to €141
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,121 | €99,837 | -€24,284 | -19.6% |
| Fixed assets | 21/28 | €40,267 | €32,550 | -€7,717 | -19.2% |
| Tangible fixed assets | 22/27 | €40,267 | €32,550 | -€7,717 | -19.2% |
| Land and buildings | 22 | €9,969 | €9,666 | -€303 | -3.0% |
| Plant, machinery and equipment | 23 | €1,546 | €1,391 | -€155 | -10.0% |
| Furniture and vehicles | 24 | €28,752 | €21,493 | -€7,259 | -25.2% |
| Current assets | 29/58 | €83,854 | €67,287 | -€16,567 | -19.8% |
| Amounts receivable within one year | 40/41 | €40,492 | €9,548 | -€30,944 | -76.4% |
| Trade receivables | 40 | €13,079 | €0 | -€13,079 | -100.0% |
| Other amounts receivable | 41 | €27,413 | €9,548 | -€17,865 | -65.2% |
| Cash at bank and in hand | 54/58 | €41,821 | €49,610 | +€7,789 | +18.6% |
| Deferred charges and accrued income | 490/1 | €1,542 | €8,130 | +€6,588 | +427.3% |
| Total equity and liabilities | 10/49 | €124,121 | €99,837 | -€24,284 | -19.6% |
| Equity | 10/15 | €102,230 | €74,245 | -€27,985 | -27.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €96,030 | €69,224 | -€26,806 | -27.9% |
| Distributable reserves | 133 | €96,030 | €69,224 | -€26,806 | -27.9% |
| Profit (loss) carried forward | 14 | €0 | -€1,179 | -€1,179 | |
| Amounts payable | 17/49 | €21,891 | €25,592 | +€3,702 | +16.9% |
| Amounts payable after more than one year | 17 | €10,323 | €5,245 | -€5,078 | -49.2% |
| Financial debts | 170/4 | €10,323 | €5,245 | -€5,078 | -49.2% |
| Amounts payable within one year | 42/48 | €11,508 | €17,297 | +€5,789 | +50.3% |
| Current portion of amounts payable after more than one year | 42 | €4,917 | €5,078 | +€161 | +3.3% |
| Trade debts | 44 | €2,107 | €690 | -€1,417 | -67.3% |
| Suppliers | 440/4 | €2,107 | €690 | -€1,417 | -67.3% |
| Taxes, remuneration and social security | 45 | €4,484 | €2,056 | -€2,428 | -54.2% |
| Taxes | 450/3 | €2,484 | €456 | -€2,028 | -81.7% |
| Remuneration and social security | 454/9 | €2,000 | €1,600 | -€400 | -20.0% |
| Other amounts payable | 47/48 | - | €9,474 | +€9,474 | |
| Accrued charges and deferred income | 492/3 | €60 | €3,050 | +€2,991 | +4995.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,595 | €7,717 | +€121 | +1.6% |
| Other operating charges | 640/8 | €146 | €152 | +€6 | +4.0% |
| Gross operating margin | 9900 | €18,028 | €7,489 | -€10,539 | -58.5% |
| Operating profit (loss) | 9901 | €10,287 | -€379 | -€10,666 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €785 | €658 | -€127 | -16.1% |
| Recurring financial charges | 65 | €785 | €658 | -€127 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €9,502 | -€1,037 | -€10,539 | |
| Income taxes | 67/77 | €2,690 | €141 | -€2,548 | -94.7% |
| Profit (loss) for the period | 9904 | €6,812 | -€1,179 | -€7,991 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,812 | -€1,179 | -€7,991 |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.