COSEC: 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.
COSEC
Largest movements
- Receivables within one year +€91,645
up €91,645 (+1297.0%), from €7,066 to €98,711
of which Trade receivables: +€64,047
- Cash +€36,699
up €36,699 (+1125.2%), from €3,262 to €39,960
mainly Trade debts (+€60,007) and Net result for the year (+€33,034)
- Trade debts +€60,007
up €60,007 (+2222.5%), from €2,700 to €62,707
- Profit (loss) carried forward +€33,034
up €33,034 (+297.7%), from €11,096 to €44,130
- Tax, wage and social debts +€32,343
up €32,343 (+988.9%), from €3,271 to €35,614
of which Taxes: +€31,095
- Advances received +€3,106
new in 2025: €3,106
- Gross operating margin +€46,571
up €46,571 (+306.4%), from €15,198 to €61,770
- Staff costs +€13,494
new in 2025: €13,494
- Taxes +€8,641
up €8,641 (+264.2%), from €3,271 to €11,912
- Depreciation +€1,627
up €1,627 (+233.9%), from €696 to €2,323
- Other operating charges +€765
up €765 (+493.3%), from €155 to €920
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 | €20,066 | €148,557 | +€128,490 | +640.3% |
| Fixed assets | 21/28 | €8,554 | €8,587 | +€32 | +0.4% |
| Tangible fixed assets | 22/27 | €7,654 | €7,687 | +€32 | +0.4% |
| Plant, machinery and equipment | 23 | - | €2,120 | +€2,120 | |
| Furniture and vehicles | 24 | €7,654 | €5,567 | -€2,088 | -27.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €11,512 | €139,970 | +€128,458 | +1115.8% |
| Amounts receivable within one year | 40/41 | €7,066 | €98,711 | +€91,645 | +1297.0% |
| Trade receivables | 40 | €2,700 | €66,747 | +€64,047 | +2372.1% |
| Other amounts receivable | 41 | €4,366 | €31,963 | +€27,598 | +632.1% |
| Cash at bank and in hand | 54/58 | €3,262 | €39,960 | +€36,699 | +1125.2% |
| Deferred charges and accrued income | 490/1 | €1,185 | €1,299 | +€114 | +9.6% |
| Total equity and liabilities | 10/49 | €20,066 | €148,557 | +€128,490 | +640.3% |
| Equity | 10/15 | €14,096 | €47,130 | +€33,034 | +234.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,096 | €44,130 | +€33,034 | +297.7% |
| Amounts payable | 17/49 | €5,971 | €101,427 | +€95,456 | +1598.8% |
| Amounts payable within one year | 42/48 | €5,971 | €101,427 | +€95,456 | +1598.8% |
| Trade debts | 44 | €2,700 | €62,707 | +€60,007 | +2222.5% |
| Suppliers | 440/4 | €2,700 | €62,707 | +€60,007 | +2222.5% |
| Advances received on contracts in progress | 46 | - | €3,106 | +€3,106 | |
| Taxes, remuneration and social security | 45 | €3,271 | €35,614 | +€32,343 | +988.9% |
| Taxes | 450/3 | €3,271 | €34,366 | +€31,095 | +950.8% |
| Remuneration and social security | 454/9 | - | €1,248 | +€1,248 | |
| Remuneration, social security and pensions | 62 | - | €13,494 | +€13,494 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €2,323 | +€1,627 | +233.9% |
| Other operating charges | 640/8 | €155 | €920 | +€765 | +493.3% |
| Gross operating margin | 9900 | €15,198 | €61,770 | +€46,571 | +306.4% |
| Operating profit (loss) | 9901 | €14,347 | €45,033 | +€30,686 | +213.9% |
| Financial income | 75/76B | €45 | €0 | -€45 | -100.0% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -100.0% |
| Financial charges | 65/66B | €26 | €88 | +€62 | +242.1% |
| Recurring financial charges | 65 | €26 | €88 | +€62 | +242.1% |
| Profit (loss) for the period before taxes | 9903 | €14,366 | €44,946 | +€30,579 | +212.9% |
| Income taxes | 67/77 | €3,271 | €11,912 | +€8,641 | +264.2% |
| Profit (loss) for the period | 9904 | €11,096 | €33,034 | +€21,938 | +197.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,096 | €33,034 | +€21,938 | +197.7% |
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 8 October 2026 via checked.be.