COGESTOR: 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.
COGESTOR
Largest movements
- Cash -€29,872
down €29,872 (-32.5%), from €91,930 to €62,058
mainly Other debts (-€27,562) and Deferred charges and accrued income (-€18,592)
- Deferred charges and accrued income +€18,592
up €18,592 (+22.5%), from €82,715 to €101,308
- Financial fixed assets +€9,046
up €9,046 (+5.6%), from €160,724 to €169,770
- Receivables after one year -€9,046
down €9,046 (-3.3%), from €277,605 to €268,559
of which Other amounts receivable: -€9,046
- Other debts -€27,562
down €27,562 (-32.4%), from €84,994 to €57,432
- Trade debts +€14,709
up €14,709 (+25.0%), from €58,888 to €73,597
of which Suppliers: +€12,946
- Financial income -€5,858
down €5,858 (-23.8%), from €24,596 to €18,738
- Staff costs +€1,136
up €1,136 (+3.9%), from €28,942 to €30,078
- Taxes +€859
new in 2025: €859
- Depreciation +€787
new in 2025: €787
- Gross operating margin +€381
up €381 (+2.6%), from €14,724 to €15,105
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 | €617,775 | €608,228 | -€9,547 | -1.5% |
| Fixed assets | 21/28 | €165,524 | €176,303 | +€10,779 | +6.5% |
| Tangible fixed assets | 22/27 | €4,800 | €6,533 | +€1,733 | +36.1% |
| Furniture and vehicles | 24 | - | €1,733 | +€1,733 | |
| Other tangible fixed assets | 26 | €4,800 | €4,800 | = | 0.0% |
| Financial fixed assets | 28 | €160,724 | €169,770 | +€9,046 | +5.6% |
| Current assets | 29/58 | €452,251 | €431,925 | -€20,326 | -4.5% |
| Amounts receivable after more than one year | 29 | €277,605 | €268,559 | -€9,046 | -3.3% |
| Trade receivables | 290 | €17,138 | €17,138 | = | 0.0% |
| Other amounts receivable | 291 | €260,467 | €251,421 | -€9,046 | -3.5% |
| Cash at bank and in hand | 54/58 | €91,930 | €62,058 | -€29,872 | -32.5% |
| Deferred charges and accrued income | 490/1 | €82,715 | €101,308 | +€18,592 | +22.5% |
| Total equity and liabilities | 10/49 | €617,775 | €608,228 | -€9,547 | -1.5% |
| Equity | 10/15 | €462,715 | €463,867 | +€1,152 | +0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €394,515 | €395,667 | +€1,152 | +0.3% |
| Amounts payable | 17/49 | €155,060 | €144,361 | -€10,699 | -6.9% |
| Amounts payable within one year | 42/48 | €155,060 | €144,361 | -€10,699 | -6.9% |
| Trade debts | 44 | €58,888 | €73,597 | +€14,709 | +25.0% |
| Suppliers | 440/4 | €58,888 | €71,834 | +€12,946 | +22.0% |
| Bills of exchange payable | 441 | - | €1,763 | +€1,763 | |
| Taxes, remuneration and social security | 45 | €11,177 | €13,332 | +€2,155 | +19.3% |
| Taxes | 450/3 | €2,351 | - | -€2,351 | |
| Remuneration and social security | 454/9 | €8,827 | €13,332 | +€4,505 | +51.0% |
| Other amounts payable | 47/48 | €84,994 | €57,432 | -€27,562 | -32.4% |
| Remuneration, social security and pensions | 62 | €28,942 | €30,078 | +€1,136 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €787 | +€787 | |
| Other operating charges | 640/8 | €452 | €400 | -€52 | -11.6% |
| Gross operating margin | 9900 | €14,724 | €15,105 | +€381 | +2.6% |
| Operating profit (loss) | 9901 | -€14,670 | -€16,160 | -€1,490 | -10.2% |
| Financial income | 75/76B | €24,596 | €18,738 | -€5,858 | -23.8% |
| Recurring financial income | 75 | €24,596 | €18,738 | -€5,858 | -23.8% |
| Financial charges | 65/66B | €567 | €567 | +€0 | 0.0% |
| Recurring financial charges | 65 | €567 | €567 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €9,359 | €2,011 | -€7,348 | -78.5% |
| Income taxes | 67/77 | - | €859 | +€859 | |
| Profit (loss) for the period | 9904 | €9,359 | €1,152 | -€8,207 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,359 | €1,152 | -€8,207 | -87.7% |
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 14 October 2026 via checked.be.