CoGiVa: what changed
Two fiscal 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.
CoGiVa
Largest movements
- Stocks and contracts -€901,305
down €901,305 (-29.4%), from €3.1m to €2.2m
- Receivables within one year -€128,255
down €128,255 (-8.3%), from €1.5m to €1.4m
- Financial fixed assets -€73,454
down €73,454 (-70.5%), from €104,204 to €30,750
- Other debts -€720,375
down €720,375 (-100.0%), from €720,375 to €0
- Current portion of long-term debt -€450,000
down €450,000 (-52.1%), from €863,000 to €413,000
- Profit (loss) carried forward +€161,630
up €161,630 (+13.3%), from €1.2m to €1.4m
- Debts after one year -€108,835
down €108,835 (-6.5%), from €1.7m to €1.6m
- Tax, wage and social debts +€60,095
up €60,095 (+100.2%), from €59,999 to €120,093
- Financial income +€1.6m
up €1.6m (+4160.1%), from €38,719 to €1.6m
of which Non-recurring financial income: +€1.6m
- Financial charges +€1.5m
up €1.5m (+529.4%), from €276,305 to €1.7m
of which Non-recurring financial charges: +€1.6m
- Gross operating margin -€364,440
down €364,440 (-53.9%), from €676,689 to €312,249
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 | €4,836,407 | €3,722,513 | -€1.1m | -23.0% |
| Fixed assets | 21/28 | €104,204 | €30,750 | -€73,454 | -70.5% |
| Financial fixed assets | 28 | €104,204 | €30,750 | -€73,454 | -70.5% |
| Current assets | 29/58 | €4,732,202 | €3,691,763 | -€1.0m | -22.0% |
| Stocks and contracts in progress | 3 | €3,064,863 | €2,163,559 | -€901,305 | -29.4% |
| Contracts in progress | 37 | €3,064,863 | €2,163,559 | -€901,305 | -29.4% |
| Amounts receivable within one year | 40/41 | €1,542,074 | €1,413,820 | -€128,255 | -8.3% |
| Other amounts receivable | 41 | €1,542,074 | €1,413,820 | -€128,255 | -8.3% |
| Cash at bank and in hand | 54/58 | €99,270 | €92,439 | -€6,831 | -6.9% |
| Deferred charges and accrued income | 490/1 | €25,994 | €21,946 | -€4,049 | -15.6% |
| Total equity and liabilities | 10/49 | €4,836,407 | €3,722,513 | -€1.1m | -23.0% |
| Equity | 10/15 | €1,387,731 | €1,549,361 | +€161,630 | +11.6% |
| Contributions | 10/11 | €168,634 | €168,634 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,217,237 | €1,378,867 | +€161,630 | +13.3% |
| Amounts payable | 17/49 | €3,448,676 | €2,173,153 | -€1.3m | -37.0% |
| Amounts payable after more than one year | 17 | €1,683,835 | €1,575,000 | -€108,835 | -6.5% |
| Financial debts | 170/4 | €1,683,835 | €1,575,000 | -€108,835 | -6.5% |
| Amounts payable within one year | 42/48 | €1,696,901 | €575,177 | -€1.1m | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €863,000 | €413,000 | -€450,000 | -52.1% |
| Financial debts | 43 | €45,991 | €0 | -€45,991 | -100.0% |
| Credit institutions | 430/8 | €45,991 | €0 | -€45,991 | -100.0% |
| Trade debts | 44 | €7,537 | €42,084 | +€34,547 | +458.4% |
| Suppliers | 440/4 | €7,537 | €42,084 | +€34,547 | +458.4% |
| Taxes, remuneration and social security | 45 | €59,999 | €120,093 | +€60,095 | +100.2% |
| Taxes | 450/3 | €59,999 | €120,093 | +€60,095 | +100.2% |
| Other amounts payable | 47/48 | €720,375 | €0 | -€720,375 | -100.0% |
| Accrued charges and deferred income | 492/3 | €67,939 | €22,975 | -€44,964 | -66.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €676,689 | €312,249 | -€364,440 | -53.9% |
| Operating profit (loss) | 9901 | €675,721 | €311,250 | -€364,471 | -53.9% |
| Financial income | 75/76B | €38,719 | €1,649,446 | +€1.6m | +4160.1% |
| Recurring financial income | 75 | €38,719 | €32,835 | -€5,883 | -15.2% |
| Non-recurring financial income | 76B | €0 | €1,616,611 | +€1.6m | |
| Financial charges | 65/66B | €276,305 | €1,738,972 | +€1.5m | +529.4% |
| Recurring financial charges | 65 | €276,305 | €118,906 | -€157,399 | -57.0% |
| Non-recurring financial charges | 66B | €0 | €1,620,065 | +€1.6m | |
| Profit (loss) for the period before taxes | 9903 | €438,134 | €221,724 | -€216,410 | -49.4% |
| Income taxes | 67/77 | €59,999 | €60,095 | +€96 | +0.2% |
| Profit (loss) for the period | 9904 | €378,136 | €161,630 | -€216,506 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €378,136 | €161,630 | -€216,506 | -57.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.