COGER: 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.
COGER
Largest movements
- Receivables within one year -€40,066
down €40,066 (-14.6%), from €274,751 to €234,685
- Tangible fixed assets -€22,923
down €22,923 (-8.5%), from €269,777 to €246,855
- Cash +€14,551
up €14,551 (+9.5%), from €153,155 to €167,706
mainly Net result for the year (+€100,810) and Receivables within one year (+€40,066)
- Debts after one year -€52,647
down €52,647 (-13.2%), from €399,292 to €346,646
of which Financial debts: -€52,647
No income-statement line moved by more than 1% of the activity.
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 | €698,065 | €650,958 | -€47,107 | -6.7% |
| Fixed assets | 21/28 | €269,777 | €246,855 | -€22,923 | -8.5% |
| Tangible fixed assets | 22/27 | €269,777 | €246,855 | -€22,923 | -8.5% |
| Land and buildings | 22 | €269,777 | €246,855 | -€22,923 | -8.5% |
| Current assets | 29/58 | €428,288 | €404,104 | -€24,185 | -5.6% |
| Amounts receivable within one year | 40/41 | €274,751 | €234,685 | -€40,066 | -14.6% |
| Other amounts receivable | 41 | €274,751 | €234,685 | -€40,066 | -14.6% |
| Cash at bank and in hand | 54/58 | €153,155 | €167,706 | +€14,551 | +9.5% |
| Deferred charges and accrued income | 490/1 | €382 | €1,713 | +€1,331 | +348.0% |
| Total equity and liabilities | 10/49 | €698,065 | €650,958 | -€47,107 | -6.7% |
| Equity | 10/15 | €114,921 | €115,732 | +€810 | +0.7% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €7,909 | €7,909 | = | 0.0% |
| Distributable reserves | 133 | €7,909 | €7,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,829 | €70,639 | +€810 | +1.2% |
| Amounts payable | 17/49 | €583,144 | €535,226 | -€47,918 | -8.2% |
| Amounts payable after more than one year | 17 | €399,292 | €346,646 | -€52,647 | -13.2% |
| Financial debts | 170/4 | €371,431 | €318,785 | -€52,647 | -14.2% |
| Other amounts payable | 178/9 | €27,861 | €27,861 | = | 0.0% |
| Amounts payable within one year | 42/48 | €183,852 | €188,581 | +€4,729 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €51,524 | €52,647 | +€1,123 | +2.2% |
| Trade debts | 44 | €1,425 | €2,331 | +€906 | +63.6% |
| Suppliers | 440/4 | €1,425 | €2,331 | +€906 | +63.6% |
| Taxes, remuneration and social security | 45 | €32,903 | €33,603 | +€700 | +2.1% |
| Taxes | 450/3 | €32,903 | €33,603 | +€700 | +2.1% |
| Other amounts payable | 47/48 | €98,000 | €100,000 | +€2,000 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,831 | €22,923 | -€908 | -3.8% |
| Other operating charges | 640/8 | €1,615 | €2,010 | +€394 | +24.4% |
| Gross operating margin | 9900 | €163,961 | €165,479 | +€1,517 | +0.9% |
| Operating profit (loss) | 9901 | €138,515 | €140,546 | +€2,031 | +1.5% |
| Financial income | 75/76B | €3,189 | €2,934 | -€255 | -8.0% |
| Recurring financial income | 75 | €3,189 | €2,934 | -€255 | -8.0% |
| Financial charges | 65/66B | €10,091 | €9,066 | -€1,025 | -10.2% |
| Recurring financial charges | 65 | €10,091 | €9,066 | -€1,025 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €131,613 | €134,414 | +€2,801 | +2.1% |
| Income taxes | 67/77 | €32,903 | €33,603 | +€700 | +2.1% |
| Profit (loss) for the period | 9904 | €98,710 | €100,810 | +€2,101 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,710 | €100,810 | +€2,101 | +2.1% |
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 1 October 2026 via checked.be.