COSC: what changed
Two fiscal 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.
COSC
Largest movements
- Tangible fixed assets +€3.5m
up €3.5m (+16.7%), from €20.9m to €24.4m
of which Land and buildings: +€3.5m
- Receivables within one year +€918,212
up €918,212 (+4.7%), from €19.4m to €20.4m
of which Other amounts receivable: +€951,328
- Cash +€668,065
up €668,065 (+221.3%), from €301,918 to €969,982
mainly Debts after one year (+€2.7m) and Net result for the year (+€1.4m)
- Current investments -€650,000
down €650,000 (-100.0%), from €650,000 to €0
- Deferred charges and accrued income -€551,270
down €551,270 (-79.1%), from €697,225 to €145,954
- Debts after one year +€2.7m
up €2.7m (+26.6%), from €10.1m to €12.7m
- Profit (loss) carried forward +€1.2m
up €1.2m (+42.5%), from €2.9m to €4.2m
- Other debts -€652,378
down €652,378 (-4.2%), from €15.4m to €14.7m
- Gross operating margin -€241,347
down €241,347 (-7.7%), from €3.1m to €2.9m
- Taxes -€86,381
down €86,381 (-15.4%), from €560,241 to €473,860
- Financial charges +€81,052
up €81,052 (+11.3%), from €714,807 to €795,859
- Depreciation +€73,916
up €73,916 (+10.2%), from €724,363 to €798,279
- Financial income +€36,071
up €36,071 (+6.3%), from €569,177 to €605,248
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 | €42,147,303 | €46,031,105 | +€3.9m | +9.2% |
| Fixed assets | 21/28 | €21,063,618 | €24,562,414 | +€3.5m | +16.6% |
| Tangible fixed assets | 22/27 | €20,911,777 | €24,410,573 | +€3.5m | +16.7% |
| Land and buildings | 22 | €20,907,189 | €24,406,463 | +€3.5m | +16.7% |
| Other tangible fixed assets | 26 | €4,588 | €4,110 | -€478 | -10.4% |
| Financial fixed assets | 28 | €151,840 | €151,840 | = | 0.0% |
| Current assets | 29/58 | €21,083,685 | €21,468,691 | +€385,006 | +1.8% |
| Amounts receivable within one year | 40/41 | €19,434,543 | €20,352,755 | +€918,212 | +4.7% |
| Trade receivables | 40 | €69,745 | €36,629 | -€33,116 | -47.5% |
| Other amounts receivable | 41 | €19,364,798 | €20,316,125 | +€951,328 | +4.9% |
| Current investments | 50/53 | €650,000 | €0 | -€650,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €301,918 | €969,982 | +€668,065 | +221.3% |
| Deferred charges and accrued income | 490/1 | €697,225 | €145,954 | -€551,270 | -79.1% |
| Total equity and liabilities | 10/49 | €42,147,303 | €46,031,105 | +€3.9m | +9.2% |
| Equity | 10/15 | €15,493,971 | €16,908,580 | +€1.4m | +9.1% |
| Contributions | 10/11 | €12,400,000 | €12,400,000 | = | 0.0% |
| Capital | 10 | €12,400,000 | €12,400,000 | = | 0.0% |
| Issued capital | 100 | €12,400,000 | €12,400,000 | = | 0.0% |
| Reserves | 13 | €172,000 | €344,000 | +€172,000 | +100.0% |
| Non-distributable reserves | 130/1 | €172,000 | €344,000 | +€172,000 | +100.0% |
| Legal reserve | 130 | €172,000 | €344,000 | +€172,000 | +100.0% |
| Profit (loss) carried forward | 14 | €2,921,971 | €4,164,580 | +€1.2m | +42.5% |
| Amounts payable | 17/49 | €26,653,332 | €29,122,525 | +€2.5m | +9.3% |
| Amounts payable after more than one year | 17 | €10,063,507 | €12,744,549 | +€2.7m | +26.6% |
| Financial debts | 170/4 | €10,063,507 | €12,744,549 | +€2.7m | +26.6% |
| Amounts payable within one year | 42/48 | €16,190,449 | €15,992,047 | -€198,402 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €699,539 | €718,957 | +€19,419 | +2.8% |
| Financial debts | 43 | - | €100,932 | +€100,932 | |
| Credit institutions | 430/8 | - | €100,932 | +€100,932 | |
| Trade debts | 44 | €49,800 | €367,325 | +€317,526 | +637.6% |
| Suppliers | 440/4 | €49,800 | €367,325 | +€317,526 | +637.6% |
| Taxes, remuneration and social security | 45 | €59,459 | €75,558 | +€16,099 | +27.1% |
| Taxes | 450/3 | €59,459 | €75,558 | +€16,099 | +27.1% |
| Other amounts payable | 47/48 | €15,381,652 | €14,729,274 | -€652,378 | -4.2% |
| Accrued charges and deferred income | 492/3 | €399,376 | €385,929 | -€13,447 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €724,363 | €798,279 | +€73,916 | +10.2% |
| Other operating charges | 640/8 | €39,419 | €28,759 | -€10,660 | -27.0% |
| Gross operating margin | 9900 | €3,147,464 | €2,906,117 | -€241,347 | -7.7% |
| Operating profit (loss) | 9901 | €2,383,682 | €2,079,079 | -€304,603 | -12.8% |
| Financial income | 75/76B | €569,177 | €605,248 | +€36,071 | +6.3% |
| Recurring financial income | 75 | €569,177 | €605,248 | +€36,071 | +6.3% |
| Financial charges | 65/66B | €714,807 | €795,859 | +€81,052 | +11.3% |
| Recurring financial charges | 65 | €714,807 | €795,859 | +€81,052 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €2,238,053 | €1,888,469 | -€349,584 | -15.6% |
| Income taxes | 67/77 | €560,241 | €473,860 | -€86,381 | -15.4% |
| Profit (loss) for the period | 9904 | €1,677,812 | €1,414,609 | -€263,203 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,677,812 | €1,414,609 | -€263,203 | -15.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.