KOGENI: 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.
KOGENI
Largest movements
- Cash +€1.9m
up €1.9m (+1095.3%), from €170,309 to €2.0m
mainly Other debts (+€2.0m) and Current investments (+€1.2m)
- Current investments -€1.2m
down €1.2m (-6.8%), from €17.7m to €16.5m
- Reserves -€2.0m
down €2.0m (-8.1%), from €24.5m to €22.5m
of which Distributable reserves: -€2.0m
- Other debts +€2.0m
new in 2025: €2.0m
- Profit (loss) carried forward +€613,555
up €613,555 (+61.7%), from €994,849 to €1.6m
- Taxes +€116,088
up €116,088 (+436.3%), from €26,605 to €142,693
- Gross operating margin -€23,064
down €23,064 (-7.8%), from €295,779 to €272,715
- Other operating charges -€20,372
down €20,372 (-33.8%), from €60,322 to €39,950
- Depreciation +€8,597
up €8,597 (+9.4%), from €91,026 to €99,623
- Financial charges +€4,745
up €4,745 (+28.9%), from €16,396 to €21,142
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 | €25,656,537 | €26,273,918 | +€617,381 | +2.4% |
| Fixed assets | 21/28 | €7,491,698 | €7,357,073 | -€134,625 | -1.8% |
| Tangible fixed assets | 22/27 | €1,781,333 | €1,689,049 | -€92,284 | -5.2% |
| Land and buildings | 22 | €1,567,761 | €1,540,786 | -€26,975 | -1.7% |
| Plant, machinery and equipment | 23 | €77,010 | €52,033 | -€24,977 | -32.4% |
| Furniture and vehicles | 24 | €136,562 | €96,230 | -€40,332 | -29.5% |
| Financial fixed assets | 28 | €5,710,365 | €5,668,024 | -€42,341 | -0.7% |
| Current assets | 29/58 | €18,164,839 | €18,916,844 | +€752,006 | +4.1% |
| Amounts receivable after more than one year | 29 | €200,000 | €220,000 | +€20,000 | +10.0% |
| Other amounts receivable | 291 | €200,000 | €220,000 | +€20,000 | +10.0% |
| Amounts receivable within one year | 40/41 | €34,288 | €100,675 | +€66,388 | +193.6% |
| Trade receivables | 40 | €34,288 | €29,429 | -€4,859 | -14.2% |
| Other amounts receivable | 41 | - | €71,247 | +€71,247 | |
| Current investments | 50/53 | €17,741,815 | €16,528,231 | -€1.2m | -6.8% |
| Cash at bank and in hand | 54/58 | €170,309 | €2,035,775 | +€1.9m | +1095.3% |
| Deferred charges and accrued income | 490/1 | €18,427 | €32,162 | +€13,735 | +74.5% |
| Total equity and liabilities | 10/49 | €25,656,537 | €26,273,918 | +€617,381 | +2.4% |
| Equity | 10/15 | €25,637,688 | €24,251,243 | -€1.4m | -5.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €24,542,839 | €22,542,839 | -€2.0m | -8.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €24,532,839 | €22,532,839 | -€2.0m | -8.2% |
| Profit (loss) carried forward | 14 | €994,849 | €1,608,404 | +€613,555 | +61.7% |
| Amounts payable | 17/49 | €18,848 | €2,022,674 | +€2.0m | +10631.3% |
| Amounts payable within one year | 42/48 | €18,848 | €2,022,621 | +€2.0m | +10631.0% |
| Trade debts | 44 | €260 | €14,142 | +€13,882 | +5338.8% |
| Suppliers | 440/4 | €260 | €14,142 | +€13,882 | +5338.8% |
| Taxes, remuneration and social security | 45 | €18,588 | €8,479 | -€10,109 | -54.4% |
| Taxes | 450/3 | €14,949 | €8,479 | -€6,470 | -43.3% |
| Remuneration and social security | 454/9 | €3,639 | - | -€3,639 | |
| Other amounts payable | 47/48 | - | €2,000,000 | +€2.0m | |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,026 | €99,623 | +€8,597 | +9.4% |
| Other operating charges | 640/8 | €60,322 | €39,950 | -€20,372 | -33.8% |
| Gross operating margin | 9900 | €295,779 | €272,715 | -€23,064 | -7.8% |
| Operating profit (loss) | 9901 | €144,432 | €133,142 | -€11,289 | -7.8% |
| Financial income | 75/76B | €644,603 | €644,247 | -€356 | -0.1% |
| Recurring financial income | 75 | €644,603 | €644,247 | -€356 | -0.1% |
| Financial charges | 65/66B | €16,396 | €21,142 | +€4,745 | +28.9% |
| Recurring financial charges | 65 | €16,396 | €21,142 | +€4,745 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €772,638 | €756,248 | -€16,390 | -2.1% |
| Income taxes | 67/77 | €26,605 | €142,693 | +€116,088 | +436.3% |
| Profit (loss) for the period | 9904 | €746,033 | €613,555 | -€132,478 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €746,033 | €613,555 | -€132,478 | -17.8% |
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.