COGIA: 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.
COGIA
Largest movements
- Cash +€18,219
up €18,219 (+22.7%), from €80,126 to €98,344
mainly Net result for the year (+€17,755) and Depreciation (+€12,058)
- Receivables within one year +€11,964
up €11,964 (+44.2%), from €27,041 to €39,006
of which Trade receivables: +€15,725
- Tangible fixed assets -€11,567
down €11,567 (-28.3%), from €40,803 to €29,236
of which Furniture and vehicles: -€10,755
- Reserves +€17,755
up €17,755 (+25.8%), from €68,852 to €86,607
- Trade debts +€2,815
up €2,815 (+55.6%), from €5,062 to €7,878
- Gross operating margin +€22,974
up €22,974 (+164.2%), from €13,989 to €36,963
- Taxes +€5,558
up €5,558 (+816.0%), from €681 to €6,239
- Other operating charges -€375
down €375 (-40.0%), from €937 to €562
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.
Cash bridge derived
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 | €150,249 | €168,874 | +€18,625 | +12.4% |
| Fixed assets | 21/28 | €40,803 | €29,236 | -€11,567 | -28.3% |
| Tangible fixed assets | 22/27 | €40,803 | €29,236 | -€11,567 | -28.3% |
| Plant, machinery and equipment | 23 | €1,702 | €1,215 | -€486 | -28.6% |
| Furniture and vehicles | 24 | €37,366 | €26,610 | -€10,755 | -28.8% |
| Other tangible fixed assets | 26 | €1,736 | €1,410 | -€326 | -18.8% |
| Current assets | 29/58 | €109,446 | €139,638 | +€30,192 | +27.6% |
| Amounts receivable within one year | 40/41 | €27,041 | €39,006 | +€11,964 | +44.2% |
| Trade receivables | 40 | €23,280 | €39,006 | +€15,725 | +67.5% |
| Other amounts receivable | 41 | €3,761 | - | -€3,761 | |
| Cash at bank and in hand | 54/58 | €80,126 | €98,344 | +€18,219 | +22.7% |
| Deferred charges and accrued income | 490/1 | €2,279 | €2,288 | +€9 | +0.4% |
| Total equity and liabilities | 10/49 | €150,249 | €168,874 | +€18,625 | +12.4% |
| Equity | 10/15 | €133,757 | €151,513 | +€17,755 | +13.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €68,852 | €86,607 | +€17,755 | +25.8% |
| Distributable reserves | 133 | €68,852 | €86,607 | +€17,755 | +25.8% |
| Profit (loss) carried forward | 14 | €40,117 | €40,117 | = | 0.0% |
| Amounts payable | 17/49 | €16,492 | €17,361 | +€870 | +5.3% |
| Amounts payable within one year | 42/48 | €15,092 | €17,361 | +€2,270 | +15.0% |
| Trade debts | 44 | €5,062 | €7,878 | +€2,815 | +55.6% |
| Suppliers | 440/4 | €5,062 | €7,878 | +€2,815 | +55.6% |
| Taxes, remuneration and social security | 45 | €7,176 | €8,116 | +€940 | +13.1% |
| Taxes | 450/3 | €7,176 | €8,116 | +€940 | +13.1% |
| Other amounts payable | 47/48 | €2,854 | €1,368 | -€1,486 | -52.1% |
| Accrued charges and deferred income | 492/3 | €1,400 | - | -€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,187 | €12,058 | -€130 | -1.1% |
| Other operating charges | 640/8 | €937 | €562 | -€375 | -40.0% |
| Gross operating margin | 9900 | €13,989 | €36,963 | +€22,974 | +164.2% |
| Operating profit (loss) | 9901 | €865 | €24,344 | +€23,479 | +2714.4% |
| Financial income | 75/76B | €40 | €54 | +€14 | +34.2% |
| Recurring financial income | 75 | €40 | €54 | +€14 | +34.2% |
| Financial charges | 65/66B | €377 | €403 | +€26 | +6.9% |
| Recurring financial charges | 65 | €377 | €403 | +€26 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €528 | €23,994 | +€23,466 | +4443.8% |
| Income taxes | 67/77 | €681 | €6,239 | +€5,558 | +816.0% |
| Profit (loss) for the period | 9904 | -€153 | €17,755 | +€17,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€153 | €17,755 | +€17,908 |
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 10 October 2026 via checked.be.