COGESTION: 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.
COGESTION
Largest movements
- Receivables after one year +€106,793
new in 2025: €106,793
- Receivables within one year -€61,986
down €61,986 (-53.7%), from €115,340 to €53,355
of which Other amounts receivable: -€82,887
- Other debts +€37,703
new in 2025: €37,703
- Tax, wage and social debts +€12,564
up €12,564 (+31.7%), from €39,628 to €52,192
of which Taxes: +€13,737
- Profit (loss) carried forward -€4,353
down €4,353 (-9.1%), from €47,595 to €43,243
- Trade debts +€3,750
up €3,750 (+975%), from €384 to €4,134
- Advances received -€3,641
no longer reported in 2025 (was €3,641)
- Gross operating margin +€8,083
up €8,083 (+13.5%), from €60,010 to €68,093
- Staff costs +€7,513
up €7,513 (+26.3%), from €28,591 to €36,104
- Taxes -€7,238
down €7,238 (-57.5%), from €12,588 to €5,350
- Financial income -€4,051
down €4,051 (-100.0%), from €4,051 to €0
- Other operating charges -€2,814
down €2,814 (-62.3%), from €4,516 to €1,702
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,766 | €169,504 | +€45,739 | +37.0% |
| Fixed assets | 21/28 | €2,245 | €2,245 | = | 0.0% |
| Financial fixed assets | 28 | €2,245 | €2,245 | = | 0.0% |
| Current assets | 29/58 | €121,520 | €167,259 | +€45,739 | +37.6% |
| Amounts receivable after more than one year | 29 | - | €106,793 | +€106,793 | |
| Other amounts receivable | 291 | - | €106,793 | +€106,793 | |
| Amounts receivable within one year | 40/41 | €115,340 | €53,355 | -€61,986 | -53.7% |
| Trade receivables | 40 | €27,386 | €48,288 | +€20,902 | +76.3% |
| Other amounts receivable | 41 | €87,954 | €5,067 | -€82,887 | -94.2% |
| Deferred charges and accrued income | 490/1 | €6,180 | €7,111 | +€931 | +15.1% |
| Total equity and liabilities | 10/49 | €123,766 | €169,504 | +€45,739 | +37.0% |
| Equity | 10/15 | €68,220 | €63,868 | -€4,353 | -6.4% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Contributions outside capital | 11 | €18,750 | - | -€18,750 | |
| Share premium | 1100/10 | €18,750 | - | -€18,750 | |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,595 | €43,243 | -€4,353 | -9.1% |
| Amounts payable | 17/49 | €55,545 | €105,637 | +€50,092 | +90.2% |
| Amounts payable after more than one year | 17 | €3,474 | €3,474 | = | 0.0% |
| Other amounts payable | 178/9 | €3,474 | €3,474 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,072 | €102,163 | +€50,092 | +96.2% |
| Financial debts | 43 | €8,418 | €8,133 | -€285 | -3.4% |
| Credit institutions | 430/8 | €8,418 | €8,133 | -€285 | -3.4% |
| Trade debts | 44 | €384 | €4,134 | +€3,750 | +975% |
| Suppliers | 440/4 | €384 | €4,134 | +€3,750 | +975% |
| Advances received on contracts in progress | 46 | €3,641 | - | -€3,641 | |
| Taxes, remuneration and social security | 45 | €39,628 | €52,192 | +€12,564 | +31.7% |
| Taxes | 450/3 | €33,223 | €46,960 | +€13,737 | +41.3% |
| Remuneration and social security | 454/9 | €6,406 | €5,233 | -€1,173 | -18.3% |
| Other amounts payable | 47/48 | - | €37,703 | +€37,703 | |
| Remuneration, social security and pensions | 62 | €28,591 | €36,104 | +€7,513 | +26.3% |
| Other operating charges | 640/8 | €4,516 | €1,702 | -€2,814 | -62.3% |
| Gross operating margin | 9900 | €60,010 | €68,093 | +€8,083 | +13.5% |
| Operating profit (loss) | 9901 | €26,903 | €30,287 | +€3,384 | +12.6% |
| Financial income | 75/76B | €4,051 | €0 | -€4,051 | -100.0% |
| Recurring financial income | 75 | €4,051 | €0 | -€4,051 | -100.0% |
| Financial charges | 65/66B | €1,689 | €1,528 | -€161 | -9.6% |
| Recurring financial charges | 65 | €1,689 | €1,528 | -€161 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €29,265 | €28,759 | -€506 | -1.7% |
| Income taxes | 67/77 | €12,588 | €5,350 | -€7,238 | -57.5% |
| Profit (loss) for the period | 9904 | €16,677 | €23,409 | +€6,732 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,677 | €23,409 | +€6,732 | +40.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.