COGNATO: 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.
COGNATO
Largest movements
- Tangible fixed assets -€16,523
down €16,523 (-20.5%), from €80,717 to €64,194
of which Leasing and similar rights: -€16,419
- Cash -€7,720
no longer reported in 2025 (was €7,720)
mainly Debts after one year (-€15,966) and Net result for the year (-€12,111)
- Receivables within one year +€5,757
up €5,757 (+20.7%), from €27,752 to €33,509
of which Other amounts receivable: +€12,212
- Debts after one year -€15,966
down €15,966 (-25.4%), from €62,918 to €46,951
- Tax, wage and social debts +€14,940
up €14,940 (+488.9%), from €3,056 to €17,996
- Reserves -€12,111
down €12,111 (-71.4%), from €16,967 to €4,856
- Trade debts -€10,799
down €10,799 (-59.4%), from €18,165 to €7,367
- Short-term financial debts +€3,980
new in 2025: €3,980
- Gross operating margin -€14,003
down €14,003 (-51.9%), from €26,981 to €12,978
- Depreciation +€13,247
up €13,247 (+300.4%), from €4,410 to €17,657
- Staff costs +€3,279
new in 2025: €3,279
- Taxes -€3,056
no longer reported in 2025 (was €3,056)
- Financial charges +€2,180
up €2,180 (+182.3%), from €1,196 to €3,376
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 | €119,514 | €98,853 | -€20,661 | -17.3% |
| Fixed assets | 21/28 | €81,117 | €64,594 | -€16,523 | -20.4% |
| Tangible fixed assets | 22/27 | €80,717 | €64,194 | -€16,523 | -20.5% |
| Plant, machinery and equipment | 23 | €1,818 | €1,713 | -€104 | -5.7% |
| Leasing and similar rights | 25 | €78,899 | €62,480 | -€16,419 | -20.8% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €38,397 | €34,259 | -€4,138 | -10.8% |
| Stocks and contracts in progress | 3 | €1,424 | €274 | -€1,149 | -80.7% |
| Stocks | 30/36 | €1,424 | €274 | -€1,149 | -80.7% |
| Amounts receivable within one year | 40/41 | €27,752 | €33,509 | +€5,757 | +20.7% |
| Trade receivables | 40 | €18,165 | €11,710 | -€6,455 | -35.5% |
| Other amounts receivable | 41 | €9,587 | €21,799 | +€12,212 | +127.4% |
| Cash at bank and in hand | 54/58 | €7,720 | - | -€7,720 | |
| Deferred charges and accrued income | 490/1 | €1,501 | €476 | -€1,025 | -68.3% |
| Total equity and liabilities | 10/49 | €119,514 | €98,853 | -€20,661 | -17.3% |
| Equity | 10/15 | €19,967 | €7,856 | -€12,111 | -60.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,967 | €4,856 | -€12,111 | -71.4% |
| Distributable reserves | 133 | €16,967 | €4,856 | -€12,111 | -71.4% |
| Amounts payable | 17/49 | €99,547 | €90,997 | -€8,550 | -8.6% |
| Amounts payable after more than one year | 17 | €62,918 | €46,951 | -€15,966 | -25.4% |
| Financial debts | 170/4 | €62,918 | €46,951 | -€15,966 | -25.4% |
| Amounts payable within one year | 42/48 | €36,629 | €44,045 | +€7,416 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €15,408 | €14,703 | -€705 | -4.6% |
| Financial debts | 43 | - | €3,980 | +€3,980 | |
| Credit institutions | 430/8 | - | €3,980 | +€3,980 | |
| Trade debts | 44 | €18,165 | €7,367 | -€10,799 | -59.4% |
| Suppliers | 440/4 | €18,165 | €7,367 | -€10,799 | -59.4% |
| Taxes, remuneration and social security | 45 | €3,056 | €17,996 | +€14,940 | +488.9% |
| Taxes | 450/3 | €3,056 | €17,996 | +€14,940 | +488.9% |
| Remuneration, social security and pensions | 62 | - | €3,279 | +€3,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,410 | €17,657 | +€13,247 | +300.4% |
| Other operating charges | 640/8 | €1,353 | €794 | -€559 | -41.3% |
| Gross operating margin | 9900 | €26,981 | €12,978 | -€14,003 | -51.9% |
| Operating profit (loss) | 9901 | €21,218 | -€8,752 | -€29,970 | |
| Financial income | 75/76B | €1 | €17 | +€16 | +1123.9% |
| Recurring financial income | 75 | €1 | €17 | +€16 | +1123.9% |
| Financial charges | 65/66B | €1,196 | €3,376 | +€2,180 | +182.3% |
| Recurring financial charges | 65 | €1,196 | €3,376 | +€2,180 | +182.3% |
| Profit (loss) for the period before taxes | 9903 | €20,023 | -€12,111 | -€32,134 | |
| Income taxes | 67/77 | €3,056 | - | -€3,056 | |
| Profit (loss) for the period | 9904 | €16,967 | -€12,111 | -€29,078 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,967 | -€12,111 | -€29,078 |
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.