Cogge Philip: 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.
Cogge Philip
Largest movements
- Tangible fixed assets +€183,435
up €183,435 (+62.6%), from €293,029 to €476,464
of which Leasing and similar rights: +€144,691
- Receivables within one year +€42,711
up €42,711 (+38.3%), from €111,573 to €154,285
of which Trade receivables: +€44,711
- Cash -€33,294
down €33,294 (-20.2%), from €165,105 to €131,811
mainly Investment in fixed assets (net) (-€293,860) and Contributions, distributions and other (-€150,000)
- Deferred charges and accrued income +€21,700
up €21,700 (+116%), from €18,642 to €40,342
- Debts after one year +€99,592
up €99,592 (+454%), from €21,956 to €121,548
- Other debts +€93,188
up €93,188 (+145%), from €64,076 to €157,264
- Tax, wage and social debts +€26,221
up €26,221 (+50.7%), from €51,683 to €77,903
of which Remuneration and social security: +€19,184
- Reserves -€10,385
down €10,385 (-2.6%), from €399,589 to €389,204
- Gross operating margin +€61,153
up €61,153 (+18.4%), from €331,722 to €392,875
- Staff costs +€32,833
up €32,833 (+49.8%), from €65,886 to €98,719
- Depreciation +€23,546
up €23,546 (+27.1%), from €86,878 to €110,425
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 | €588,349 | €802,901 | +€214,552 | +36.5% |
| Fixed assets | 21/28 | €293,029 | €476,464 | +€183,435 | +62.6% |
| Tangible fixed assets | 22/27 | €293,029 | €476,464 | +€183,435 | +62.6% |
| Plant, machinery and equipment | 23 | €3,706 | €4,269 | +€563 | +15.2% |
| Furniture and vehicles | 24 | €287,959 | €326,317 | +€38,358 | +13.3% |
| Leasing and similar rights | 25 | - | €144,691 | +€144,691 | |
| Other tangible fixed assets | 26 | €1,364 | €1,187 | -€177 | -13.0% |
| Current assets | 29/58 | €295,320 | €326,437 | +€31,117 | +10.5% |
| Amounts receivable within one year | 40/41 | €111,573 | €154,285 | +€42,711 | +38.3% |
| Trade receivables | 40 | €108,288 | €152,999 | +€44,711 | +41.3% |
| Other amounts receivable | 41 | €3,285 | €1,285 | -€2,000 | -60.9% |
| Cash at bank and in hand | 54/58 | €165,105 | €131,811 | -€33,294 | -20.2% |
| Deferred charges and accrued income | 490/1 | €18,642 | €40,342 | +€21,700 | +116% |
| Total equity and liabilities | 10/49 | €588,349 | €802,901 | +€214,552 | +36.5% |
| Equity | 10/15 | €400,589 | €390,204 | -€10,385 | -2.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €399,589 | €389,204 | -€10,385 | -2.6% |
| Distributable reserves | 133 | €399,589 | €389,204 | -€10,385 | -2.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €187,759 | €412,697 | +€224,937 | +120% |
| Amounts payable after more than one year | 17 | €21,956 | €121,548 | +€99,592 | +454% |
| Financial debts | 170/4 | €21,956 | €121,548 | +€99,592 | +454% |
| Amounts payable within one year | 42/48 | €165,804 | €291,149 | +€125,345 | +75.6% |
| Current portion of amounts payable after more than one year | 42 | €42,536 | €44,150 | +€1,614 | +3.8% |
| Trade debts | 44 | €7,509 | €11,832 | +€4,323 | +57.6% |
| Suppliers | 440/4 | €7,509 | €11,832 | +€4,323 | +57.6% |
| Taxes, remuneration and social security | 45 | €51,683 | €77,903 | +€26,221 | +50.7% |
| Taxes | 450/3 | €33,844 | €40,880 | +€7,037 | +20.8% |
| Remuneration and social security | 454/9 | €17,839 | €37,023 | +€19,184 | +108% |
| Other amounts payable | 47/48 | €64,076 | €157,264 | +€93,188 | +145% |
| Remuneration, social security and pensions | 62 | €65,886 | €98,719 | +€32,833 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,878 | €110,425 | +€23,546 | +27.1% |
| Other operating charges | 640/8 | €3,854 | €2,339 | -€1,515 | -39.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €331,722 | €392,875 | +€61,153 | +18.4% |
| Operating profit (loss) | 9901 | €175,104 | €181,393 | +€6,289 | +3.6% |
| Financial income | 75/76B | €896 | €0 | -€895 | -100.0% |
| Recurring financial income | 75 | €896 | €0 | -€895 | -100.0% |
| Financial charges | 65/66B | €9,296 | €6,563 | -€2,732 | -29.4% |
| Recurring financial charges | 65 | €9,296 | €6,563 | -€2,732 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €166,703 | €174,830 | +€8,126 | +4.9% |
| Income taxes | 67/77 | €38,767 | €35,215 | -€3,552 | -9.2% |
| Profit (loss) for the period | 9904 | €127,937 | €139,615 | +€11,678 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €127,937 | €139,615 | +€11,678 | +9.1% |
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 29 October 2026 via checked.be.