COGI: 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.
COGI
Largest movements
- Receivables within one year +€52,595
up €52,595 (+80.3%), from €65,462 to €118,058
- Cash +€22,886
up €22,886 (+27.2%), from €83,999 to €106,886
mainly Trade debts (+€38,210) and Other debts (+€31,338)
- Tangible fixed assets -€3,372
down €3,372 (-10.2%), from €33,213 to €29,841
of which Furniture and vehicles: -€2,406
- Deferred charges and accrued income +€2,827
up €2,827 (+14.9%), from €18,948 to €21,776
- Trade debts +€38,210
up €38,210 (+118%), from €32,500 to €70,709
- Other debts +€31,338
up €31,338 (+62.7%), from €50,000 to €81,338
- Debts after one year -€14,100
no longer reported in 2025 (was €14,100)
- Tax, wage and social debts +€13,601
up €13,601 (+78.8%), from €17,255 to €30,856
of which Taxes: +€12,385
- Financial charges +€19,587
up €19,587 (+27.0%), from €72,564 to €92,151
- Gross operating margin +€17,023
up €17,023 (+3.1%), from €553,235 to €570,258
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 | €201,622 | €276,560 | +€74,938 | +37.2% |
| Fixed assets | 21/28 | €33,213 | €29,841 | -€3,372 | -10.2% |
| Tangible fixed assets | 22/27 | €33,213 | €29,841 | -€3,372 | -10.2% |
| Furniture and vehicles | 24 | €28,602 | €26,196 | -€2,406 | -8.4% |
| Other tangible fixed assets | 26 | €4,611 | €3,645 | -€966 | -21.0% |
| Current assets | 29/58 | €168,410 | €246,719 | +€78,309 | +46.5% |
| Amounts receivable within one year | 40/41 | €65,462 | €118,058 | +€52,595 | +80.3% |
| Trade receivables | 40 | €65,462 | €118,058 | +€52,595 | +80.3% |
| Cash at bank and in hand | 54/58 | €83,999 | €106,886 | +€22,886 | +27.2% |
| Deferred charges and accrued income | 490/1 | €18,948 | €21,776 | +€2,827 | +14.9% |
| Total equity and liabilities | 10/49 | €201,622 | €276,560 | +€74,938 | +37.2% |
| Equity | 10/15 | €76,658 | €77,460 | +€803 | +1.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €51,658 | €52,460 | +€803 | +1.6% |
| Distributable reserves | 133 | €51,658 | €52,460 | +€803 | +1.6% |
| Amounts payable | 17/49 | €124,965 | €199,099 | +€74,135 | +59.3% |
| Amounts payable after more than one year | 17 | €14,100 | - | -€14,100 | |
| Financial debts | 170/4 | €14,100 | - | -€14,100 | |
| Amounts payable within one year | 42/48 | €110,864 | €199,099 | +€88,235 | +79.6% |
| Current portion of amounts payable after more than one year | 42 | €11,110 | €13,828 | +€2,718 | +24.5% |
| Trade debts | 44 | €32,500 | €70,709 | +€38,210 | +118% |
| Suppliers | 440/4 | €32,500 | €70,709 | +€38,210 | +118% |
| Advances received on contracts in progress | 46 | - | €2,368 | +€2,368 | |
| Taxes, remuneration and social security | 45 | €17,255 | €30,856 | +€13,601 | +78.8% |
| Taxes | 450/3 | €17,245 | €29,630 | +€12,385 | +71.8% |
| Remuneration and social security | 454/9 | €10 | €1,226 | +€1,216 | +11,875% |
| Other amounts payable | 47/48 | €50,000 | €81,338 | +€31,338 | +62.7% |
| Remuneration, social security and pensions | 62 | €458,295 | €460,387 | +€2,092 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,177 | €14,835 | +€658 | +4.6% |
| Other operating charges | 640/8 | €1,260 | €1,973 | +€713 | +56.6% |
| Gross operating margin | 9900 | €553,235 | €570,258 | +€17,023 | +3.1% |
| Operating profit (loss) | 9901 | €79,502 | €93,063 | +€13,561 | +17.1% |
| Financial income | 75/76B | €463 | €2,614 | +€2,151 | +464% |
| Recurring financial income | 75 | €463 | €2,614 | +€2,151 | +464% |
| Financial charges | 65/66B | €72,564 | €92,151 | +€19,587 | +27.0% |
| Recurring financial charges | 65 | €72,564 | €92,151 | +€19,587 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €7,402 | €3,526 | -€3,876 | -52.4% |
| Income taxes | 67/77 | €4,041 | €2,723 | -€1,317 | -32.6% |
| Profit (loss) for the period | 9904 | €3,361 | €803 | -€2,558 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,361 | €803 | -€2,558 | -76.1% |
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 14 October 2026 via checked.be.