COGESTPA: 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.
COGESTPA
Largest movements
- Cash +€23,377
up €23,377 (+14.6%), from €160,255 to €183,632
mainly Net result for the year (+€15,079) and Tax, wage and social debts (+€9,740)
- Reserves +€15,079
up €15,079 (+6.7%), from €224,661 to €239,740
of which Distributable reserves: +€16,934
- Tax, wage and social debts +€9,740
up €9,740 (+143%), from €6,798 to €16,538
of which Taxes: +€9,640
- Gross operating margin -€17,677
down €17,677 (-38.8%), from €45,540 to €27,863
- Depreciation -€3,494
down €3,494 (-50.8%), from €6,872 to €3,379
- Taxes +€1,634
up €1,634 (+51.2%), from €3,188 to €4,822
- Other operating charges -€983
down €983 (-18.0%), from €5,452 to €4,469
From the 30-04-2025 result to the 31-12-2025 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 30-04-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-04-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,940 | €336,046 | +€23,106 | +7.4% |
| Fixed assets | 21/28 | €138,093 | €136,183 | -€1,910 | -1.4% |
| Tangible fixed assets | 22/27 | €138,093 | €136,183 | -€1,910 | -1.4% |
| Land and buildings | 22 | €93,026 | €90,148 | -€2,879 | -3.1% |
| Plant, machinery and equipment | 23 | €43,844 | €43,594 | -€250 | -0.6% |
| Furniture and vehicles | 24 | €1,223 | €2,442 | +€1,219 | +99.7% |
| Current assets | 29/58 | €174,847 | €199,863 | +€25,016 | +14.3% |
| Amounts receivable within one year | 40/41 | €10,500 | €10,500 | = | 0.0% |
| Trade receivables | 40 | €10,500 | €10,500 | = | 0.0% |
| Current investments | 50/53 | €2,014 | €2,018 | +€4 | +0.2% |
| Cash at bank and in hand | 54/58 | €160,255 | €183,632 | +€23,377 | +14.6% |
| Deferred charges and accrued income | 490/1 | €2,078 | €3,713 | +€1,635 | +78.7% |
| Total equity and liabilities | 10/49 | €312,940 | €336,046 | +€23,106 | +7.4% |
| Equity | 10/15 | €230,911 | €245,990 | +€15,079 | +6.5% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €224,661 | €239,740 | +€15,079 | +6.7% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €222,806 | €239,740 | +€16,934 | +7.6% |
| Provisions and deferred taxes | 16 | €68,691 | €68,691 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €68,691 | €68,691 | = | 0.0% |
| Pensions and similar obligations | 160 | €68,691 | €68,691 | = | 0.0% |
| Amounts payable | 17/49 | €13,338 | €21,365 | +€8,027 | +60.2% |
| Amounts payable within one year | 42/48 | €12,373 | €21,365 | +€8,992 | +72.7% |
| Trade debts | 44 | €5,331 | €4,234 | -€1,097 | -20.6% |
| Suppliers | 440/4 | €5,331 | €4,234 | -€1,097 | -20.6% |
| Taxes, remuneration and social security | 45 | €6,798 | €16,538 | +€9,740 | +143% |
| Taxes | 450/3 | €5,298 | €14,938 | +€9,640 | +182% |
| Remuneration and social security | 454/9 | €1,500 | €1,600 | +€100 | +6.7% |
| Other amounts payable | 47/48 | €244 | €593 | +€349 | +143% |
| Accrued charges and deferred income | 492/3 | €964 | - | -€964 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,872 | €3,379 | -€3,494 | -50.8% |
| Other operating charges | 640/8 | €5,452 | €4,469 | -€983 | -18.0% |
| Gross operating margin | 9900 | €45,540 | €27,863 | -€17,677 | -38.8% |
| Operating profit (loss) | 9901 | €33,216 | €20,016 | -€13,200 | -39.7% |
| Financial income | 75/76B | €6 | €4 | -€3 | -39.2% |
| Recurring financial income | 75 | €6 | €4 | -€3 | -39.2% |
| Financial charges | 65/66B | €224 | €118 | -€106 | -47.3% |
| Recurring financial charges | 65 | €224 | €118 | -€106 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €32,998 | €19,901 | -€13,096 | -39.7% |
| Income taxes | 67/77 | €3,188 | €4,822 | +€1,634 | +51.2% |
| Profit (loss) for the period | 9904 | €29,809 | €15,079 | -€14,730 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,809 | €15,079 | -€14,730 | -49.4% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.