Cosaar: 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.
Cosaar
Largest movements
- Tangible fixed assets +€109,880
up €109,880 (+2,850%), from €3,856 to €113,735
of which Furniture and vehicles: +€109,112
- Current investments -€69,789
down €69,789 (-34.9%), from €200,003 to €130,214
- Cash +€35,807
up €35,807 (+102%), from €34,992 to €70,799
mainly Current investments (+€69,789) and Net result for the year (+€68,269)
- Reserves +€68,269
up €68,269 (+28.3%), from €241,612 to €309,881
- Tax, wage and social debts +€4,955
up €4,955 (+17.1%), from €28,947 to €33,902
- Gross operating margin +€26,973
up €26,973 (+32.2%), from €83,693 to €110,666
- Depreciation +€14,278
up €14,278 (+1,166%), from €1,224 to €15,503
- Taxes +€5,856
up €5,856 (+24.5%), from €23,913 to €29,769
- Financial income +€5,187
up €5,187 (+33,038%), from €16 to €5,203
- Other operating charges +€1,868
up €1,868 (+482%), from €387 to €2,255
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 | €274,356 | €347,351 | +€72,995 | +26.6% |
| Fixed assets | 21/28 | €3,856 | €113,735 | +€109,880 | +2,850% |
| Tangible fixed assets | 22/27 | €3,856 | €113,735 | +€109,880 | +2,850% |
| Plant, machinery and equipment | 23 | €1,594 | €2,362 | +€768 | +48.2% |
| Furniture and vehicles | 24 | €2,261 | €111,373 | +€109,112 | +4,825% |
| Current assets | 29/58 | €270,501 | €233,615 | -€36,885 | -13.6% |
| Amounts receivable within one year | 40/41 | €32,630 | €30,949 | -€1,681 | -5.2% |
| Trade receivables | 40 | €32,385 | €30,949 | -€1,436 | -4.4% |
| Other amounts receivable | 41 | €245 | - | -€245 | |
| Current investments | 50/53 | €200,003 | €130,214 | -€69,789 | -34.9% |
| Cash at bank and in hand | 54/58 | €34,992 | €70,799 | +€35,807 | +102% |
| Deferred charges and accrued income | 490/1 | €2,875 | €1,653 | -€1,222 | -42.5% |
| Total equity and liabilities | 10/49 | €274,356 | €347,351 | +€72,995 | +26.6% |
| Equity | 10/15 | €244,612 | €312,881 | +€68,269 | +27.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €241,612 | €309,881 | +€68,269 | +28.3% |
| Distributable reserves | 133 | €241,612 | €309,881 | +€68,269 | +28.3% |
| Amounts payable | 17/49 | €29,744 | €34,470 | +€4,725 | +15.9% |
| Amounts payable within one year | 42/48 | €29,744 | €34,470 | +€4,725 | +15.9% |
| Trade debts | 44 | €797 | €568 | -€230 | -28.8% |
| Suppliers | 440/4 | €797 | €568 | -€230 | -28.8% |
| Taxes, remuneration and social security | 45 | €28,947 | €33,902 | +€4,955 | +17.1% |
| Taxes | 450/3 | €28,947 | €33,902 | +€4,955 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,224 | €15,503 | +€14,278 | +1,166% |
| Other operating charges | 640/8 | €387 | €2,255 | +€1,868 | +482% |
| Gross operating margin | 9900 | €83,693 | €110,666 | +€26,973 | +32.2% |
| Operating profit (loss) | 9901 | €82,081 | €92,908 | +€10,827 | +13.2% |
| Financial income | 75/76B | €16 | €5,203 | +€5,187 | +33,038% |
| Recurring financial income | 75 | €16 | €5,203 | +€5,187 | +33,038% |
| Financial charges | 65/66B | €67 | €72 | +€5 | +7.4% |
| Recurring financial charges | 65 | €67 | €72 | +€5 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €82,030 | €98,039 | +€16,009 | +19.5% |
| Income taxes | 67/77 | €23,913 | €29,769 | +€5,856 | +24.5% |
| Profit (loss) for the period | 9904 | €58,117 | €68,269 | +€10,153 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,117 | €68,269 | +€10,153 | +17.5% |
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 24 October 2026 via checked.be.