VDA COGEFI: 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.
VDA COGEFI
Largest movements
- Cash +€15,189
up €15,189 (+57.8%), from €26,273 to €41,462
mainly Tax, wage and social debts (+€15,965) and Depreciation (+€9,116)
- Tangible fixed assets -€9,116
down €9,116 (-19.4%), from €46,992 to €37,876
of which Other tangible fixed assets: -€6,667
- Deferred charges and accrued income -€1,035
down €1,035 (-54.6%), from €1,895 to €860
- Tax, wage and social debts +€15,965
up €15,965 (+127.4%), from €12,531 to €28,496
of which Remuneration and social security: +€12,536
- Contributions -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
of which Capital: -€30,000
- Reserves -€3,095
down €3,095 (-7.0%), from €44,513 to €41,418
of which Distributable reserves: -€3,095
- Other debts +€3,031
up €3,031 (+114.6%), from €2,644 to €5,675
- Gross operating margin -€6,673
down €6,673 (-22.7%), from €29,383 to €22,710
- Depreciation -€2,707
down €2,707 (-22.9%), from €11,823 to €9,116
- Other operating charges -€1,057
down €1,057 (-43.4%), from €2,434 to €1,377
- Taxes -€481
down €481 (-10.4%), from €4,640 to €4,159
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 | €90,686 | €96,135 | +€5,449 | +6.0% |
| Fixed assets | 21/28 | €46,992 | €37,876 | -€9,116 | -19.4% |
| Tangible fixed assets | 22/27 | €46,992 | €37,876 | -€9,116 | -19.4% |
| Furniture and vehicles | 24 | €9,075 | €6,626 | -€2,449 | -27.0% |
| Other tangible fixed assets | 26 | €37,917 | €31,250 | -€6,667 | -17.6% |
| Current assets | 29/58 | €43,694 | €58,260 | +€14,566 | +33.3% |
| Amounts receivable within one year | 40/41 | €15,526 | €15,938 | +€412 | +2.7% |
| Trade receivables | 40 | €15,526 | €15,938 | +€412 | +2.7% |
| Cash at bank and in hand | 54/58 | €26,273 | €41,462 | +€15,189 | +57.8% |
| Deferred charges and accrued income | 490/1 | €1,895 | €860 | -€1,035 | -54.6% |
| Total equity and liabilities | 10/49 | €90,686 | €96,135 | +€5,449 | +6.0% |
| Equity | 10/15 | €74,513 | €61,418 | -€13,095 | -17.6% |
| Contributions | 10/11 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Capital | 10 | €30,000 | - | -€30,000 | |
| Issued capital | 100 | €30,000 | - | -€30,000 | |
| Contributions outside capital | 11 | - | €20,000 | +€20,000 | |
| Share premium | 1100/10 | - | €20,000 | +€20,000 | |
| Reserves | 13 | €44,513 | €41,418 | -€3,095 | -7.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Legal reserve | 130 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €41,513 | €38,418 | -€3,095 | -7.5% |
| Amounts payable | 17/49 | €16,173 | €34,718 | +€18,545 | +114.7% |
| Amounts payable within one year | 42/48 | €16,173 | €34,718 | +€18,545 | +114.7% |
| Trade debts | 44 | €998 | €546 | -€452 | -45.3% |
| Suppliers | 440/4 | €998 | €546 | -€452 | -45.3% |
| Taxes, remuneration and social security | 45 | €12,531 | €28,496 | +€15,965 | +127.4% |
| Taxes | 450/3 | €10,317 | €13,746 | +€3,429 | +33.2% |
| Remuneration and social security | 454/9 | €2,214 | €14,750 | +€12,536 | +566.2% |
| Other amounts payable | 47/48 | €2,644 | €5,675 | +€3,031 | +114.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,823 | €9,116 | -€2,707 | -22.9% |
| Other operating charges | 640/8 | €2,434 | €1,377 | -€1,057 | -43.4% |
| Non-recurring operating charges | 66A | €472 | - | -€472 | |
| Gross operating margin | 9900 | €29,383 | €22,710 | -€6,673 | -22.7% |
| Operating profit (loss) | 9901 | €14,654 | €12,217 | -€2,437 | -16.6% |
| Financial income | 75/76B | €217 | €232 | +€15 | +6.9% |
| Recurring financial income | 75 | €217 | €232 | +€15 | +6.9% |
| Financial charges | 65/66B | €325 | €386 | +€61 | +18.8% |
| Recurring financial charges | 65 | €325 | €386 | +€61 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €14,546 | €12,063 | -€2,483 | -17.1% |
| Income taxes | 67/77 | €4,640 | €4,159 | -€481 | -10.4% |
| Profit (loss) for the period | 9904 | €9,906 | €7,904 | -€2,002 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,906 | €7,904 | -€2,002 | -20.2% |
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 12 October 2026 via checked.be.