COGESTIM: 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.
COGESTIM
Largest movements
- Cash +€121,414
up €121,414 (+142.4%), from €85,237 to €206,652
mainly Net result for the year (+€156,571) and Other debts (+€142,957)
- Receivables within one year -€27,354
down €27,354 (-40.0%), from €68,380 to €41,025
of which Trade receivables: -€40,993
- Tangible fixed assets -€7,516
down €7,516 (-25.5%), from €29,481 to €21,965
of which Leasing and similar rights: -€6,348
- Deferred charges and accrued income +€5,471
up €5,471 (+230.5%), from €2,374 to €7,844
- Other debts +€142,957
up €142,957 (+237.3%), from €60,248 to €203,205
- Profit (loss) carried forward -€43,429
down €43,429 (-80.3%), from €54,116 to €10,687
- Tax, wage and social debts -€18,091
down €18,091 (-44.9%), from €40,328 to €22,238
of which Remuneration and social security: -€9,081
- Trade debts +€15,223
up €15,223 (+299.7%), from €5,080 to €20,303
- Debts after one year -€6,216
down €6,216 (-37.3%), from €16,686 to €10,470
- Gross operating margin +€102,652
up €102,652 (+32.7%), from €313,790 to €416,442
- Staff costs +€42,628
up €42,628 (+27.7%), from €154,081 to €196,709
- Other operating charges -€9,682
down €9,682 (-57.6%), from €16,816 to €7,134
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 | €185,753 | €277,486 | +€91,733 | +49.4% |
| Fixed assets | 21/28 | €29,763 | €21,965 | -€7,798 | -26.2% |
| Intangible fixed assets | 21 | €282 | - | -€282 | |
| Tangible fixed assets | 22/27 | €29,481 | €21,965 | -€7,516 | -25.5% |
| Furniture and vehicles | 24 | €6,228 | €5,060 | -€1,168 | -18.8% |
| Leasing and similar rights | 25 | €23,253 | €16,905 | -€6,348 | -27.3% |
| Current assets | 29/58 | €155,990 | €255,521 | +€99,531 | +63.8% |
| Amounts receivable within one year | 40/41 | €68,380 | €41,025 | -€27,354 | -40.0% |
| Trade receivables | 40 | €67,416 | €26,424 | -€40,993 | -60.8% |
| Other amounts receivable | 41 | €963 | €14,602 | +€13,639 | +1415.8% |
| Cash at bank and in hand | 54/58 | €85,237 | €206,652 | +€121,414 | +142.4% |
| Deferred charges and accrued income | 490/1 | €2,374 | €7,844 | +€5,471 | +230.5% |
| Total equity and liabilities | 10/49 | €185,753 | €277,486 | +€91,733 | +49.4% |
| Equity | 10/15 | €57,416 | €13,987 | -€43,429 | -75.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,116 | €10,687 | -€43,429 | -80.3% |
| Amounts payable | 17/49 | €128,337 | €263,499 | +€135,162 | +105.3% |
| Amounts payable after more than one year | 17 | €16,686 | €10,470 | -€6,216 | -37.3% |
| Financial debts | 170/4 | €16,686 | €10,470 | -€6,216 | -37.3% |
| Amounts payable within one year | 42/48 | €111,651 | €252,576 | +€140,925 | +126.2% |
| Current portion of amounts payable after more than one year | 42 | €5,995 | €6,831 | +€836 | +13.9% |
| Trade debts | 44 | €5,080 | €20,303 | +€15,223 | +299.7% |
| Suppliers | 440/4 | €5,080 | €20,303 | +€15,223 | +299.7% |
| Taxes, remuneration and social security | 45 | €40,328 | €22,238 | -€18,091 | -44.9% |
| Taxes | 450/3 | €11,377 | €2,368 | -€9,009 | -79.2% |
| Remuneration and social security | 454/9 | €28,951 | €19,870 | -€9,081 | -31.4% |
| Other amounts payable | 47/48 | €60,248 | €203,205 | +€142,957 | +237.3% |
| Accrued charges and deferred income | 492/3 | €0 | €453 | +€453 | |
| Remuneration, social security and pensions | 62 | €154,081 | €196,709 | +€42,628 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,728 | €9,257 | -€471 | -4.8% |
| Other operating charges | 640/8 | €16,816 | €7,134 | -€9,682 | -57.6% |
| Gross operating margin | 9900 | €313,790 | €416,442 | +€102,652 | +32.7% |
| Operating profit (loss) | 9901 | €133,164 | €203,342 | +€70,177 | +52.7% |
| Financial income | 75/76B | €3 | €29 | +€26 | +906.9% |
| Recurring financial income | 75 | €3 | €29 | +€26 | +906.9% |
| Financial charges | 65/66B | €1,131 | €1,549 | +€418 | +37.0% |
| Recurring financial charges | 65 | €1,131 | €1,549 | +€418 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €132,036 | €201,822 | +€69,786 | +52.9% |
| Income taxes | 67/77 | €46,764 | €45,251 | -€1,512 | -3.2% |
| Profit (loss) for the period | 9904 | €85,273 | €156,571 | +€71,298 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,273 | €156,571 | +€71,298 | +83.6% |
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 4 October 2026 via checked.be.