COGITO: 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.
COGITO
Largest movements
- Receivables within one year +€80,443
up €80,443 (+97.3%), from €82,713 to €163,156
of which Trade receivables: +€76,302
- Tangible fixed assets +€15,504
up €15,504 (+876%), from €1,769 to €17,273
of which Furniture and vehicles: +€16,497
- Advances received +€74,213
new in 2025: €74,213
- Tax, wage and social debts +€12,547
up €12,547 (+187%), from €6,711 to €19,258
of which Taxes: +€12,547
- Reserves +€11,881
up €11,881 (+44.9%), from €26,491 to €38,373
of which Distributable reserves: +€11,881
- Trade debts -€3,038
down €3,038 (-86.5%), from €3,511 to €473
- Turnover -€134,866
no longer reported in 2025 (was €134,866)
- Purchases and services -€106,942
no longer reported in 2025 (was €106,942)
- Taxes +€10,787
up €10,787 (+613%), from €1,760 to €12,547
- Staff costs -€4,273
down €4,273 (-85.8%), from €4,981 to €709
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 | €85,990 | €181,279 | +€95,289 | +111% |
| Fixed assets | 21/28 | €1,769 | €17,273 | +€15,504 | +876% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,769 | €17,273 | +€15,504 | +876% |
| Plant, machinery and equipment | 23 | €1,769 | €776 | -€993 | -56.1% |
| Furniture and vehicles | 24 | €0 | €16,497 | +€16,497 | |
| Current assets | 29/58 | €84,221 | €164,006 | +€79,785 | +94.7% |
| Amounts receivable within one year | 40/41 | €82,713 | €163,156 | +€80,443 | +97.3% |
| Trade receivables | 40 | €9,197 | €85,499 | +€76,302 | +830% |
| Other amounts receivable | 41 | €73,516 | €77,656 | +€4,141 | +5.6% |
| Cash at bank and in hand | 54/58 | €1,073 | €0 | -€1,073 | -100% |
| Deferred charges and accrued income | 490/1 | €435 | €850 | +€416 | +95.6% |
| Total equity and liabilities | 10/49 | €85,990 | €181,279 | +€95,289 | +111% |
| Equity | 10/15 | €74,721 | €86,603 | +€11,881 | +15.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €26,491 | €38,373 | +€11,881 | +44.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €8,890 | €8,890 | = | 0.0% |
| Distributable reserves | 133 | €17,601 | €29,482 | +€11,881 | +67.5% |
| Profit (loss) carried forward | 14 | €27,770 | €27,770 | = | 0.0% |
| Amounts payable | 17/49 | €11,269 | €94,676 | +€83,408 | +740% |
| Amounts payable within one year | 42/48 | €11,269 | €94,676 | +€83,408 | +740% |
| Financial debts | 43 | €1,047 | €732 | -€315 | -30.1% |
| Credit institutions | 430/8 | €1,047 | €732 | -€315 | -30.1% |
| Trade debts | 44 | €3,511 | €473 | -€3,038 | -86.5% |
| Suppliers | 440/4 | €3,511 | €473 | -€3,038 | -86.5% |
| Advances received on contracts in progress | 46 | - | €74,213 | +€74,213 | |
| Taxes, remuneration and social security | 45 | €6,711 | €19,258 | +€12,547 | +187% |
| Taxes | 450/3 | €1,760 | €14,307 | +€12,547 | +713% |
| Remuneration and social security | 454/9 | €4,951 | €4,951 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Turnover | 70 | €134,866 | - | -€134,866 | |
| Goods, raw materials, services and sundry goods | 60/61 | €106,942 | - | -€106,942 | |
| Remuneration, social security and pensions | 62 | €4,981 | €709 | -€4,273 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,606 | €2,761 | +€1,155 | +71.9% |
| Other operating charges | 640/8 | €384 | €532 | +€147 | +38.2% |
| Gross operating margin | 9900 | €28,567 | €29,732 | +€1,166 | +4.1% |
| Operating profit (loss) | 9901 | €21,595 | €25,732 | +€4,136 | +19.2% |
| Financial charges | 65/66B | €2,235 | €1,303 | -€931 | -41.7% |
| Recurring financial charges | 65 | €2,235 | €1,303 | -€931 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €19,361 | €24,428 | +€5,068 | +26.2% |
| Income taxes | 67/77 | €1,760 | €12,547 | +€10,787 | +613% |
| Profit (loss) for the period | 9904 | €17,601 | €11,881 | -€5,719 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,601 | €11,881 | -€5,719 | -32.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.