It depends on the context.
Context #1
She is cooking right now.
=> She is making food right now.
Context #2
She is going to cook right now.
=> She is preparing to cook / She is just about to start cooking / She hasn't started cooking yet.
Context #3
Mother is cooking breakfast for us tomorrow.
=> Future meaning: She is going to cook breakfast for us tomorrow.
Note again that, in expressing the future,
be going to + base verb is often shortened to
be + base verb + ing.
EX: She is going to cook tomorrow => She is cooking tomorrow.
