COGESTA: 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.
COGESTA
Largest movements
- Receivables after one year -€101,417
down €101,417 (-70.4%), from €144,004 to €42,587
- Receivables within one year +€50,970
up €50,970 (+12.8%), from €397,633 to €448,603
of which Other amounts receivable: +€50,970
- Cash +€33,134
up €33,134 (+434%), from €7,638 to €40,772
mainly Receivables after one year (+€101,417) and Net result for the year (+€57,780)
- Tangible fixed assets -€14,938
down €14,938 (-28.1%), from €53,127 to €38,189
- Reserves -€99,518
down €99,518 (-39.4%), from €252,272 to €152,754
of which Distributable reserves: -€97,658
- Other debts +€48,017
up €48,017 (+47.3%), from €101,417 to €149,433
- Tax, wage and social debts +€24,594
up €24,594 (+37.7%), from €65,231 to €89,824
of which Remuneration and social security: +€24,395
- Debts after one year -€12,771
down €12,771 (-48.9%), from €26,135 to €13,364
- Staff costs +€89,634
up €89,634 (+42.5%), from €210,816 to €300,450
- Gross operating margin +€81,965
up €81,965 (+25.5%), from €320,906 to €402,871
- Depreciation -€4,831
down €4,831 (-23.8%), from €20,303 to €15,472
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 | €648,247 | €612,036 | -€36,211 | -5.6% |
| Fixed assets | 21/28 | €57,418 | €40,256 | -€17,162 | -29.9% |
| Intangible fixed assets | 21 | €4,290 | €2,066 | -€2,224 | -51.8% |
| Tangible fixed assets | 22/27 | €53,127 | €38,189 | -€14,938 | -28.1% |
| Furniture and vehicles | 24 | €53,127 | €38,189 | -€14,938 | -28.1% |
| Current assets | 29/58 | €590,830 | €571,781 | -€19,049 | -3.2% |
| Amounts receivable after more than one year | 29 | €144,004 | €42,587 | -€101,417 | -70.4% |
| Other amounts receivable | 291 | €144,004 | €42,587 | -€101,417 | -70.4% |
| Amounts receivable within one year | 40/41 | €397,633 | €448,603 | +€50,970 | +12.8% |
| Trade receivables | 40 | €11,911 | €11,911 | = | 0.0% |
| Other amounts receivable | 41 | €385,722 | €436,692 | +€50,970 | +13.2% |
| Cash at bank and in hand | 54/58 | €7,638 | €40,772 | +€33,134 | +434% |
| Deferred charges and accrued income | 490/1 | €41,554 | €39,818 | -€1,736 | -4.2% |
| Total equity and liabilities | 10/49 | €648,247 | €612,036 | -€36,211 | -5.6% |
| Equity | 10/15 | €438,558 | €339,040 | -€99,518 | -22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €252,272 | €152,754 | -€99,518 | -39.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €250,412 | €152,754 | -€97,658 | -39.0% |
| Profit (loss) carried forward | 14 | €167,686 | €167,686 | = | 0.0% |
| Amounts payable | 17/49 | €209,689 | €272,996 | +€63,307 | +30.2% |
| Amounts payable after more than one year | 17 | €26,135 | €13,364 | -€12,771 | -48.9% |
| Financial debts | 170/4 | €26,135 | €13,364 | -€12,771 | -48.9% |
| Amounts payable within one year | 42/48 | €183,554 | €259,632 | +€76,078 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €12,203 | €12,771 | +€567 | +4.6% |
| Trade debts | 44 | €4,703 | €7,603 | +€2,900 | +61.7% |
| Suppliers | 440/4 | €4,703 | €7,603 | +€2,900 | +61.7% |
| Taxes, remuneration and social security | 45 | €65,231 | €89,824 | +€24,594 | +37.7% |
| Taxes | 450/3 | €42,419 | €42,618 | +€199 | +0.5% |
| Remuneration and social security | 454/9 | €22,812 | €47,207 | +€24,395 | +107% |
| Other amounts payable | 47/48 | €101,417 | €149,433 | +€48,017 | +47.3% |
| Remuneration, social security and pensions | 62 | €210,816 | €300,450 | +€89,634 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,303 | €15,472 | -€4,831 | -23.8% |
| Other operating charges | 640/8 | €2,927 | €1,064 | -€1,864 | -63.7% |
| Gross operating margin | 9900 | €320,906 | €402,871 | +€81,965 | +25.5% |
| Operating profit (loss) | 9901 | €86,860 | €85,886 | -€975 | -1.1% |
| Financial income | 75/76B | €9,462 | €9,507 | +€45 | +0.5% |
| Recurring financial income | 75 | €9,462 | €9,507 | +€45 | +0.5% |
| Financial charges | 65/66B | €3,917 | €2,860 | -€1,058 | -27.0% |
| Recurring financial charges | 65 | €3,917 | €2,860 | -€1,058 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €92,405 | €92,533 | +€127 | +0.1% |
| Income taxes | 67/77 | €34,016 | €34,753 | +€737 | +2.2% |
| Profit (loss) for the period | 9904 | €58,390 | €57,780 | -€610 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,390 | €57,780 | -€610 | -1.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.