COHEN & C°: 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.
COHEN & C°
Largest movements
- Receivables within one year +€189,489
up €189,489 (+139.4%), from €135,888 to €325,377
of which Trade receivables: +€208,185
- Cash -€23,441
down €23,441 (-39.5%), from €59,359 to €35,917
mainly Receivables within one year (-€189,489) and Debts after one year (-€3,032)
- Deferred charges and accrued income -€8,437
no longer reported in 2025 (was €8,437)
- Trade debts +€92,681
up €92,681 (+94.4%), from €98,210 to €190,891
- Tax, wage and social debts +€62,246
up €62,246 (+86.2%), from €72,228 to €134,474
of which Remuneration and social security: +€61,753
- Gross operating margin +€36,902
up €36,902 (+15.1%), from €243,695 to €280,596
- Financial charges +€21,326
up €21,326 (+95.9%), from €22,236 to €43,562
- Financial income -€14,315
down €14,315 (-43.7%), from €32,752 to €18,438
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 | €225,532 | €380,722 | +€155,190 | +68.8% |
| Fixed assets | 21/28 | €21,849 | €19,427 | -€2,421 | -11.1% |
| Tangible fixed assets | 22/27 | €21,849 | €19,427 | -€2,421 | -11.1% |
| Plant, machinery and equipment | 23 | €8,797 | €9,897 | +€1,100 | +12.5% |
| Furniture and vehicles | 24 | €13,052 | €9,530 | -€3,522 | -27.0% |
| Current assets | 29/58 | €203,683 | €361,295 | +€157,611 | +77.4% |
| Amounts receivable within one year | 40/41 | €135,888 | €325,377 | +€189,489 | +139.4% |
| Trade receivables | 40 | €78,596 | €286,781 | +€208,185 | +264.9% |
| Other amounts receivable | 41 | €57,292 | €38,596 | -€18,696 | -32.6% |
| Cash at bank and in hand | 54/58 | €59,359 | €35,917 | -€23,441 | -39.5% |
| Deferred charges and accrued income | 490/1 | €8,437 | - | -€8,437 | |
| Total equity and liabilities | 10/49 | €225,532 | €380,722 | +€155,190 | +68.8% |
| Equity | 10/15 | €43,167 | €46,293 | +€3,126 | +7.2% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €36,917 | €40,043 | +€3,126 | +8.5% |
| Distributable reserves | 133 | €36,917 | €40,043 | +€3,126 | +8.5% |
| Amounts payable | 17/49 | €182,365 | €334,429 | +€152,064 | +83.4% |
| Amounts payable after more than one year | 17 | €9,064 | €6,032 | -€3,032 | -33.5% |
| Financial debts | 170/4 | €9,064 | €6,032 | -€3,032 | -33.5% |
| Amounts payable within one year | 42/48 | €173,301 | €328,397 | +€155,096 | +89.5% |
| Current portion of amounts payable after more than one year | 42 | €2,863 | €3,032 | +€169 | +5.9% |
| Trade debts | 44 | €98,210 | €190,891 | +€92,681 | +94.4% |
| Suppliers | 440/4 | €98,210 | €190,891 | +€92,681 | +94.4% |
| Taxes, remuneration and social security | 45 | €72,228 | €134,474 | +€62,246 | +86.2% |
| Taxes | 450/3 | €10,355 | €10,848 | +€493 | +4.8% |
| Remuneration and social security | 454/9 | €61,873 | €123,626 | +€61,753 | +99.8% |
| Remuneration, social security and pensions | 62 | €232,165 | €234,957 | +€2,792 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,691 | €5,359 | -€331 | -5.8% |
| Other operating charges | 640/8 | €2,194 | €1,182 | -€1,012 | -46.1% |
| Gross operating margin | 9900 | €243,695 | €280,596 | +€36,902 | +15.1% |
| Operating profit (loss) | 9901 | €3,645 | €39,098 | +€35,454 | +972.8% |
| Financial income | 75/76B | €32,752 | €18,438 | -€14,315 | -43.7% |
| Recurring financial income | 75 | €32,752 | €18,438 | -€14,315 | -43.7% |
| Financial charges | 65/66B | €22,236 | €43,562 | +€21,326 | +95.9% |
| Recurring financial charges | 65 | €22,236 | €43,562 | +€21,326 | +95.9% |
| Profit (loss) for the period before taxes | 9903 | €14,161 | €13,974 | -€187 | -1.3% |
| Income taxes | 67/77 | €10,355 | €10,848 | +€493 | +4.8% |
| Profit (loss) for the period | 9904 | €3,806 | €3,126 | -€680 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,806 | €3,126 | -€680 | -17.9% |
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 6 October 2026 via checked.be.