Cosaert & Co: 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.
Cosaert & Co
Largest movements
- Receivables within one year +€69,990
up €69,990 (+59.1%), from €118,418 to €188,408
of which Trade receivables: +€39,258
- Tangible fixed assets -€35,370
down €35,370 (-15.5%), from €227,867 to €192,497
- Cash -€34,651
down €34,651 (-16.3%), from €212,871 to €178,220
mainly Receivables within one year (-€69,990) and Contributions, distributions and other (-€50,000)
- Stocks and contracts +€11,736
up €11,736 (+3.9%), from €302,793 to €314,528
- Profit (loss) carried forward +€50,759
up €50,759 (+15.4%), from €330,304 to €381,063
- Debts after one year -€47,255
down €47,255 (-33.3%), from €141,765 to €94,510
- Trade debts +€8,821
up €8,821 (+5.8%), from €151,546 to €160,367
- Staff costs -€54,685
down €54,685 (-20.8%), from €262,702 to €208,017
- Gross operating margin -€30,654
down €30,654 (-7.6%), from €401,203 to €370,550
- Taxes +€6,622
up €6,622 (+45.7%), from €14,476 to €21,098
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 | €864,800 | €873,653 | +€8,853 | +1.0% |
| Fixed assets | 21/28 | €227,867 | €192,497 | -€35,370 | -15.5% |
| Tangible fixed assets | 22/27 | €227,867 | €192,497 | -€35,370 | -15.5% |
| Land and buildings | 22 | €183,064 | €166,260 | -€16,805 | -9.2% |
| Plant, machinery and equipment | 23 | €41,718 | €25,837 | -€15,881 | -38.1% |
| Furniture and vehicles | 24 | €3,085 | €400 | -€2,685 | -87.0% |
| Current assets | 29/58 | €636,933 | €681,156 | +€44,223 | +6.9% |
| Stocks and contracts in progress | 3 | €302,793 | €314,528 | +€11,736 | +3.9% |
| Stocks | 30/36 | €302,793 | €314,528 | +€11,736 | +3.9% |
| Amounts receivable within one year | 40/41 | €118,418 | €188,408 | +€69,990 | +59.1% |
| Trade receivables | 40 | €101,182 | €140,441 | +€39,258 | +38.8% |
| Other amounts receivable | 41 | €17,236 | €47,967 | +€30,731 | +178% |
| Cash at bank and in hand | 54/58 | €212,871 | €178,220 | -€34,651 | -16.3% |
| Deferred charges and accrued income | 490/1 | €2,851 | - | -€2,851 | |
| Total equity and liabilities | 10/49 | €864,800 | €873,653 | +€8,853 | +1.0% |
| Equity | 10/15 | €428,819 | €479,577 | +€50,759 | +11.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €48,515 | €48,515 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €29,765 | €29,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | €330,304 | €381,063 | +€50,759 | +15.4% |
| Amounts payable | 17/49 | €435,981 | €394,075 | -€41,906 | -9.6% |
| Amounts payable after more than one year | 17 | €141,765 | €94,510 | -€47,255 | -33.3% |
| Financial debts | 170/4 | €141,765 | €94,510 | -€47,255 | -33.3% |
| Amounts payable within one year | 42/48 | €294,216 | €299,565 | +€5,349 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €47,255 | €47,255 | = | 0.0% |
| Trade debts | 44 | €151,546 | €160,367 | +€8,821 | +5.8% |
| Suppliers | 440/4 | €151,546 | €160,367 | +€8,821 | +5.8% |
| Taxes, remuneration and social security | 45 | €45,532 | €37,092 | -€8,440 | -18.5% |
| Taxes | 450/3 | €610 | €10,722 | +€10,112 | +1,657% |
| Remuneration and social security | 454/9 | €44,922 | €26,370 | -€18,552 | -41.3% |
| Other amounts payable | 47/48 | €49,883 | €54,850 | +€4,968 | +10.0% |
| Remuneration, social security and pensions | 62 | €262,702 | €208,017 | -€54,685 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,900 | €35,370 | -€530 | -1.5% |
| Other operating charges | 640/8 | €1,571 | €1,028 | -€543 | -34.6% |
| Gross operating margin | 9900 | €401,203 | €370,550 | -€30,654 | -7.6% |
| Operating profit (loss) | 9901 | €101,030 | €126,134 | +€25,104 | +24.8% |
| Financial income | 75/76B | €1,222 | €1,154 | -€67 | -5.5% |
| Recurring financial income | 75 | €1,222 | €1,154 | -€67 | -5.5% |
| Financial charges | 65/66B | €5,889 | €5,432 | -€456 | -7.8% |
| Recurring financial charges | 65 | €5,889 | €5,432 | -€456 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €96,363 | €121,857 | +€25,493 | +26.5% |
| Income taxes | 67/77 | €14,476 | €21,098 | +€6,622 | +45.7% |
| Profit (loss) for the period | 9904 | €81,888 | €100,759 | +€18,871 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,888 | €100,759 | +€18,871 | +23.0% |
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 25 October 2026 via checked.be.