COGERFI: 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.
COGERFI
Largest movements
- Cash +€97,167
up €97,167 (+348%), from €27,892 to €125,059
mainly Net result for the year (+€93,643) and Receivables within one year (+€36,994)
- Current investments +€50,000
up €50,000 (+16.7%), from €300,000 to €350,000
- Profit (loss) carried forward +€93,643
up €93,643 (+3.1%), from -€3.0m to -€2.9m
- Gross operating margin +€9,618
up €9,618 (+8.9%), from €108,301 to €117,919
- Financial income +€8,504
up €8,504 (+551%), from €1,543 to €10,047
- Taxes +€5,751
up €5,751 (+20.3%), from €28,372 to €34,123
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 | €3,865,694 | €3,975,679 | +€109,986 | +2.8% |
| Fixed assets | 21/28 | €3,500,000 | €3,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,500,000 | €3,500,000 | = | 0.0% |
| Current assets | 29/58 | €365,694 | €475,679 | +€109,986 | +30.1% |
| Amounts receivable within one year | 40/41 | €37,590 | €596 | -€36,994 | -98.4% |
| Trade receivables | 40 | €37,500 | €0 | -€37,500 | -100% |
| Other amounts receivable | 41 | €90 | €596 | +€506 | +559% |
| Current investments | 50/53 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €27,892 | €125,059 | +€97,167 | +348% |
| Deferred charges and accrued income | 490/1 | €211 | €24 | -€187 | -88.8% |
| Total equity and liabilities | 10/49 | €3,865,694 | €3,975,679 | +€109,986 | +2.8% |
| Equity | 10/15 | €3,846,641 | €3,940,284 | +€93,643 | +2.4% |
| Contributions | 10/11 | €6,812,000 | €6,812,000 | = | 0.0% |
| Capital | 10 | €6,812,000 | €6,812,000 | = | 0.0% |
| Issued capital | 100 | €6,812,000 | €6,812,000 | = | 0.0% |
| Reserves | 13 | €13,946 | €13,946 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,946 | €13,946 | = | 0.0% |
| Legal reserve | 130 | €13,946 | €13,946 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,979,305 | -€2,885,662 | +€93,643 | +3.1% |
| Amounts payable | 17/49 | €19,052 | €35,395 | +€16,343 | +85.8% |
| Amounts payable within one year | 42/48 | €19,052 | €35,395 | +€16,343 | +85.8% |
| Trade debts | 44 | €6,371 | €4,345 | -€2,025 | -31.8% |
| Suppliers | 440/4 | €6,371 | €4,345 | -€2,025 | -31.8% |
| Taxes, remuneration and social security | 45 | €12,682 | €31,050 | +€18,368 | +145% |
| Taxes | 450/3 | €12,682 | €31,050 | +€18,368 | +145% |
| Other operating charges | 640/8 | €968 | €0 | -€968 | -100% |
| Gross operating margin | 9900 | €108,301 | €117,919 | +€9,618 | +8.9% |
| Operating profit (loss) | 9901 | €107,334 | €117,919 | +€10,586 | +9.9% |
| Financial income | 75/76B | €1,543 | €10,047 | +€8,504 | +551% |
| Recurring financial income | 75 | €1,543 | €10,047 | +€8,504 | +551% |
| Financial charges | 65/66B | €131 | €200 | +€69 | +52.9% |
| Recurring financial charges | 65 | €131 | €200 | +€69 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | €108,746 | €127,766 | +€19,021 | +17.5% |
| Income taxes | 67/77 | €28,372 | €34,123 | +€5,751 | +20.3% |
| Profit (loss) for the period | 9904 | €80,373 | €93,643 | +€13,270 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,373 | €93,643 | +€13,270 | +16.5% |
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 18 October 2026 via checked.be.