COGNITIC: 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.
COGNITIC
Largest movements
- Cash +€127,554
up €127,554 (+457%), from €27,920 to €155,474
mainly Receivables within one year (+€121,288) and Net result for the year (+€40,700)
- Receivables within one year -€121,288
down €121,288 (-39.9%), from €304,131 to €182,843
of which Other amounts receivable: -€84,053
- Tangible fixed assets -€23,534
down €23,534 (-32.4%), from €72,746 to €49,213
of which Furniture and vehicles: -€22,563
- Trade debts -€43,446
down €43,446 (-51.4%), from €84,576 to €41,131
- Reserves +€40,000
up €40,000 (+119%), from €33,693 to €73,693
of which Distributable reserves: +€40,000
- Tax, wage and social debts -€16,094
down €16,094 (-24.3%), from €66,291 to €50,196
of which Taxes: -€27,382
- Other debts +€11,950
new in 2025: €11,950
- Current portion of long-term debt -€7,177
down €7,177 (-70.0%), from €10,246 to €3,069
- Gross operating margin +€18,759
up €18,759 (+14.2%), from €131,733 to €150,491
- Staff costs +€11,709
up €11,709 (+24.3%), from €48,263 to €59,973
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 | €441,048 | €423,780 | -€17,268 | -3.9% |
| Fixed assets | 21/28 | €91,483 | €67,949 | -€23,534 | -25.7% |
| Intangible fixed assets | 21 | €17,000 | €17,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €72,746 | €49,213 | -€23,534 | -32.4% |
| Furniture and vehicles | 24 | €48,929 | €26,367 | -€22,563 | -46.1% |
| Other tangible fixed assets | 26 | €23,817 | €22,846 | -€971 | -4.1% |
| Financial fixed assets | 28 | €1,737 | €1,737 | = | 0.0% |
| Current assets | 29/58 | €349,565 | €355,831 | +€6,266 | +1.8% |
| Amounts receivable within one year | 40/41 | €304,131 | €182,843 | -€121,288 | -39.9% |
| Trade receivables | 40 | €211,958 | €174,724 | -€37,234 | -17.6% |
| Other amounts receivable | 41 | €92,172 | €8,119 | -€84,053 | -91.2% |
| Cash at bank and in hand | 54/58 | €27,920 | €155,474 | +€127,554 | +457% |
| Deferred charges and accrued income | 490/1 | €17,514 | €17,514 | = | 0.0% |
| Total equity and liabilities | 10/49 | €441,048 | €423,780 | -€17,268 | -3.9% |
| Equity | 10/15 | €276,734 | €317,434 | +€40,700 | +14.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €33,693 | €73,693 | +€40,000 | +119% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €31,818 | €71,818 | +€40,000 | +126% |
| Profit (loss) carried forward | 14 | €224,291 | €224,991 | +€700 | +0.3% |
| Amounts payable | 17/49 | €164,314 | €106,346 | -€57,968 | -35.3% |
| Amounts payable within one year | 42/48 | €161,114 | €106,346 | -€54,768 | -34.0% |
| Current portion of amounts payable after more than one year | 42 | €10,246 | €3,069 | -€7,177 | -70.0% |
| Trade debts | 44 | €84,576 | €41,131 | -€43,446 | -51.4% |
| Suppliers | 440/4 | €84,576 | €41,131 | -€43,446 | -51.4% |
| Taxes, remuneration and social security | 45 | €66,291 | €50,196 | -€16,094 | -24.3% |
| Taxes | 450/3 | €63,161 | €35,779 | -€27,382 | -43.4% |
| Remuneration and social security | 454/9 | €3,130 | €14,418 | +€11,287 | +361% |
| Other amounts payable | 47/48 | - | €11,950 | +€11,950 | |
| Accrued charges and deferred income | 492/3 | €3,200 | - | -€3,200 | |
| Non-recurring operating income | 76A | €9 | €12 | +€3 | +34.0% |
| Remuneration, social security and pensions | 62 | €48,263 | €59,973 | +€11,709 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,094 | €23,534 | +€440 | +1.9% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Non-recurring operating charges | 66A | €1,155 | €18 | -€1,137 | -98.4% |
| Gross operating margin | 9900 | €131,733 | €150,491 | +€18,759 | +14.2% |
| Operating profit (loss) | 9901 | €58,322 | €66,039 | +€7,717 | +13.2% |
| Financial income | 75/76B | €227 | €48 | -€180 | -79.0% |
| Recurring financial income | 75 | €227 | €48 | -€180 | -79.0% |
| Financial charges | 65/66B | €937 | €511 | -€427 | -45.5% |
| Recurring financial charges | 65 | €937 | €511 | -€427 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €57,612 | €65,576 | +€7,964 | +13.8% |
| Income taxes | 67/77 | €25,221 | €24,876 | -€346 | -1.4% |
| Profit (loss) for the period | 9904 | €32,390 | €40,700 | +€8,310 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,390 | €40,700 | +€8,310 | +25.7% |
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 17 October 2026 via checked.be.