Cogeo: 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.
Cogeo
Largest movements
- Receivables within one year +€4,415
up €4,415 (+37.2%), from €11,863 to €16,278
of which Trade receivables: +€4,128
- Cash -€2,962
down €2,962 (-1.9%), from €158,671 to €155,709
mainly Tax, wage and social debts (-€14,786) and Receivables within one year (-€4,415)
- Tax, wage and social debts -€14,786
down €14,786 (-87.2%), from €16,947 to €2,161
- Trade debts +€11,863
up €11,863 (+10,760%), from €110 to €11,974
- Reserves +€4,349
up €4,349 (+14.1%), from €30,823 to €35,172
- Gross operating margin -€45,764
down €45,764 (-88.5%), from €51,737 to €5,973
- Taxes -€17,920
down €17,920 (-89.2%), from €20,081 to €2,161
- Depreciation -€1,108
no longer reported in 2025 (was €1,108)
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 | €172,446 | €173,899 | +€1,453 | +0.8% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €172,446 | €173,899 | +€1,453 | +0.8% |
| Amounts receivable within one year | 40/41 | €11,863 | €16,278 | +€4,415 | +37.2% |
| Trade receivables | 40 | €11,177 | €15,305 | +€4,128 | +36.9% |
| Other amounts receivable | 41 | €686 | €973 | +€287 | +41.9% |
| Cash at bank and in hand | 54/58 | €158,671 | €155,709 | -€2,962 | -1.9% |
| Deferred charges and accrued income | 490/1 | €1,912 | €1,912 | = | 0.0% |
| Total equity and liabilities | 10/49 | €172,446 | €173,899 | +€1,453 | +0.8% |
| Equity | 10/15 | €155,119 | €159,468 | +€4,349 | +2.8% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €30,823 | €35,172 | +€4,349 | +14.1% |
| Distributable reserves | 133 | €30,823 | €35,172 | +€4,349 | +14.1% |
| Profit (loss) carried forward | 14 | €9,296 | €9,296 | = | 0.0% |
| Amounts payable | 17/49 | €17,327 | €14,431 | -€2,896 | -16.7% |
| Amounts payable within one year | 42/48 | €17,327 | €14,431 | -€2,896 | -16.7% |
| Trade debts | 44 | €110 | €11,974 | +€11,863 | +10,760% |
| Suppliers | 440/4 | €110 | €11,974 | +€11,863 | +10,760% |
| Taxes, remuneration and social security | 45 | €16,947 | €2,161 | -€14,786 | -87.2% |
| Taxes | 450/3 | €16,947 | €2,161 | -€14,786 | -87.2% |
| Other amounts payable | 47/48 | €270 | €296 | +€26 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,108 | - | -€1,108 | |
| Gross operating margin | 9900 | €51,737 | €5,973 | -€45,764 | -88.5% |
| Operating profit (loss) | 9901 | €50,629 | €5,973 | -€44,656 | -88.2% |
| Financial income | 75/76B | €317 | €580 | +€263 | +82.8% |
| Recurring financial income | 75 | €317 | €580 | +€263 | +82.8% |
| Financial charges | 65/66B | €42 | €43 | +€0 | +0.8% |
| Recurring financial charges | 65 | €42 | €43 | +€0 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €50,904 | €6,510 | -€44,393 | -87.2% |
| Income taxes | 67/77 | €20,081 | €2,161 | -€17,920 | -89.2% |
| Profit (loss) for the period | 9904 | €30,823 | €4,349 | -€26,474 | -85.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,823 | €4,349 | -€26,474 | -85.9% |
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 23 October 2026 via checked.be.