Cosca: 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.
Cosca
Largest movements
- Tangible fixed assets +€123,690
up €123,690 (+39.1%), from €316,730 to €440,420
of which Land and buildings: +€118,107
- Receivables within one year -€48,103
down €48,103 (-43.0%), from €111,919 to €63,817
of which Trade receivables: -€58,059
- Debts after one year +€162,151
up €162,151 (+70.4%), from €230,166 to €392,316
- Profit (loss) carried forward +€158,862
no longer reported in 2025 (was -€158,862)
- Reserves -€130,235
down €130,235 (-58.0%), from €224,488 to €94,253
- Short-term financial debts -€71,000
no longer reported in 2025 (was €71,000)
- Tax, wage and social debts -€15,433
down €15,433 (-55.9%), from €27,626 to €12,193
- Financial charges -€185,120
down €185,120 (-90.2%), from €205,291 to €20,171
of which Non-recurring financial charges: -€193,292
- Gross operating margin +€24,296
up €24,296 (+26.6%), from €91,350 to €115,646
- Other operating charges +€13,298
up €13,298 (+471.8%), from €2,819 to €16,117
- Depreciation -€8,357
down €8,357 (-30.1%), from €27,720 to €19,363
- Taxes +€3,841
up €3,841 (+26.7%), from €14,382 to €18,223
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 | €471,489 | €553,555 | +€82,066 | +17.4% |
| Fixed assets | 21/28 | €317,595 | €441,285 | +€123,690 | +38.9% |
| Tangible fixed assets | 22/27 | €316,730 | €440,420 | +€123,690 | +39.1% |
| Land and buildings | 22 | €314,909 | €433,016 | +€118,107 | +37.5% |
| Furniture and vehicles | 24 | €1,821 | €7,403 | +€5,582 | +306.6% |
| Financial fixed assets | 28 | €865 | €865 | = | 0.0% |
| Current assets | 29/58 | €153,894 | €112,270 | -€41,624 | -27.0% |
| Amounts receivable within one year | 40/41 | €111,919 | €63,817 | -€48,103 | -43.0% |
| Trade receivables | 40 | €111,919 | €53,860 | -€58,059 | -51.9% |
| Other amounts receivable | 41 | - | €9,957 | +€9,957 | |
| Cash at bank and in hand | 54/58 | €41,974 | €46,263 | +€4,289 | +10.2% |
| Deferred charges and accrued income | 490/1 | - | €2,190 | +€2,190 | |
| Total equity and liabilities | 10/49 | €471,489 | €553,555 | +€82,066 | +17.4% |
| Equity | 10/15 | €84,227 | €112,853 | +€28,626 | +34.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224,488 | €94,253 | -€130,235 | -58.0% |
| Distributable reserves | 133 | €224,488 | €94,253 | -€130,235 | -58.0% |
| Profit (loss) carried forward | 14 | -€158,862 | - | +€158,862 | |
| Amounts payable | 17/49 | €387,262 | €440,702 | +€53,440 | +13.8% |
| Amounts payable after more than one year | 17 | €230,166 | €392,316 | +€162,151 | +70.4% |
| Financial debts | 170/4 | €230,166 | €392,316 | +€162,151 | +70.4% |
| Amounts payable within one year | 42/48 | €157,096 | €48,385 | -€108,711 | -69.2% |
| Current portion of amounts payable after more than one year | 42 | €12,281 | €13,704 | +€1,423 | +11.6% |
| Financial debts | 43 | €71,000 | - | -€71,000 | |
| Credit institutions | 430/8 | €71,000 | - | -€71,000 | |
| Trade debts | 44 | €32,848 | €21,858 | -€10,990 | -33.5% |
| Suppliers | 440/4 | €32,848 | €21,858 | -€10,990 | -33.5% |
| Advances received on contracts in progress | 46 | €630 | €630 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €27,626 | €12,193 | -€15,433 | -55.9% |
| Taxes | 450/3 | €27,626 | €12,193 | -€15,433 | -55.9% |
| Other amounts payable | 47/48 | €12,710 | - | -€12,710 | |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,720 | €19,363 | -€8,357 | -30.1% |
| Other operating charges | 640/8 | €2,819 | €16,117 | +€13,298 | +471.8% |
| Non-recurring operating charges | 66A | - | €13,170 | +€13,170 | |
| Gross operating margin | 9900 | €91,350 | €115,646 | +€24,296 | +26.6% |
| Operating profit (loss) | 9901 | €60,811 | €66,995 | +€6,184 | +10.2% |
| Financial income | 75/76B | €1 | €25 | +€24 | +2623.9% |
| Recurring financial income | 75 | €1 | €25 | +€24 | +2623.9% |
| Financial charges | 65/66B | €205,291 | €20,171 | -€185,120 | -90.2% |
| Recurring financial charges | 65 | €12,000 | €20,171 | +€8,171 | +68.1% |
| Non-recurring financial charges | 66B | €193,292 | - | -€193,292 | |
| Profit (loss) for the period before taxes | 9903 | -€144,480 | €46,849 | +€191,328 | |
| Income taxes | 67/77 | €14,382 | €18,223 | +€3,841 | +26.7% |
| Profit (loss) for the period | 9904 | -€158,862 | €28,626 | +€187,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€158,862 | €28,626 | +€187,488 |
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 8 October 2026 via checked.be.