COSELAERE: 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.
What changed
COSELAERE
NACE 81.300, Landscape service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€40,586
2024 · €149,511-€108,925
Equity
€624,416
2024 · €583,830+€40,586
Cash
€12,114
2024 · €34,797-€22,683
Balance sheet total
€5.1m
2024 · €5.2m-€166,256
Largest movements
Assets
- Tangible fixed assets -€166,635
down €166,635 (-3.5%), from €4.8m to €4.7m
of which Land and buildings: -€165,794
Equity and liabilities
- Debts after one year -€197,734
down €197,734 (-4.6%), from €4.3m to €4.1m
of which Financial debts: -€212,734
Income statement
- Gross operating margin -€191,083
down €191,083 (-31.8%), from €600,567 to €409,484
- Financial charges -€19,724
down €19,724 (-10.6%), from €185,938 to €166,214
- Depreciation -€9,122
down €9,122 (-4.8%), from €189,827 to €180,705
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.
Result 2024
€149,511
Gross operating margin
-€191,083
Depreciation
+€9,122
Other operating charges
+€4,422
Financial income
+€2,114
Financial charges
+€19,724
Taxes
-€5,993
Deferred taxes and other
+€52,770
Result 2025
€40,586
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€182,093
Investment
-€14,070
Financing
-€190,706
Cash 2024
€34,797
From operations (derived)
+€182,093
Net result for the year
+€40,586
Depreciation
+€180,705
Receivables within one year
-€13,097
Deferred charges and accrued income
-€9,965
Provisions
-€2,095
Trade debts
+€701
Tax, wage and social debts
-€11,574
Other debts
-€3,313
Accrued charges and deferred income
+€145
Investment (derived)
-€14,070
Investment in fixed assets (net)
-€14,070
Financing
-€190,706
Debts after one year
-€197,734
Current portion of long-term debt
+€7,028
Cash 2025
€12,114
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,228,268 | €5,062,012 | -€166,256 | -3.2% |
| Fixed assets | 21/28 | €4,828,415 | €4,661,780 | -€166,635 | -3.5% |
| Tangible fixed assets | 22/27 | €4,828,415 | €4,661,780 | -€166,635 | -3.5% |
| Land and buildings | 22 | €4,826,306 | €4,660,512 | -€165,794 | -3.4% |
| Plant, machinery and equipment | 23 | €2,109 | €1,268 | -€841 | -39.9% |
| Current assets | 29/58 | €399,853 | €400,231 | +€379 | +0.1% |
| Amounts receivable within one year | 40/41 | €361,747 | €374,844 | +€13,097 | +3.6% |
| Trade receivables | 40 | €248,013 | €145,702 | -€102,311 | -41.3% |
| Other amounts receivable | 41 | €113,735 | €229,143 | +€115,408 | +101% |
| Cash at bank and in hand | 54/58 | €34,797 | €12,114 | -€22,683 | -65.2% |
| Deferred charges and accrued income | 490/1 | €3,308 | €13,273 | +€9,965 | +301% |
| Total equity and liabilities | 10/49 | €5,228,268 | €5,062,012 | -€166,256 | -3.2% |
| Equity | 10/15 | €583,830 | €624,416 | +€40,586 | +7.0% |
| Contributions | 10/11 | €214,015 | €214,015 | = | 0.0% |
| Capital | 10 | €214,015 | €214,015 | = | 0.0% |
| Issued capital | 100 | €214,015 | €214,015 | = | 0.0% |
| Reserves | 13 | €173,428 | €167,144 | -€6,284 | -3.6% |
| Non-distributable reserves | 130/1 | €21,402 | €21,402 | = | 0.0% |
| Legal reserve | 130 | €21,402 | €21,402 | = | 0.0% |
| Tax-exempt reserves | 132 | €152,027 | €145,743 | -€6,284 | -4.1% |
| Profit (loss) carried forward | 14 | €196,387 | €243,257 | +€46,870 | +23.9% |
| Provisions and deferred taxes | 16 | €50,676 | €48,581 | -€2,095 | -4.1% |
| Deferred taxes | 168 | €50,676 | €48,581 | -€2,095 | -4.1% |
| Amounts payable | 17/49 | €4,593,762 | €4,389,015 | -€204,747 | -4.5% |
| Amounts payable after more than one year | 17 | €4,295,904 | €4,098,170 | -€197,734 | -4.6% |
| Financial debts | 170/4 | €4,070,904 | €3,858,170 | -€212,734 | -5.2% |
| Other amounts payable | 178/9 | €225,000 | €240,000 | +€15,000 | +6.7% |
| Amounts payable within one year | 42/48 | €278,949 | €271,790 | -€7,159 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €205,706 | €212,734 | +€7,028 | +3.4% |
| Trade debts | 44 | €13,991 | €14,692 | +€701 | +5.0% |
| Suppliers | 440/4 | €13,991 | €14,692 | +€701 | +5.0% |
| Taxes, remuneration and social security | 45 | €47,984 | €36,410 | -€11,574 | -24.1% |
| Taxes | 450/3 | €47,984 | €36,410 | -€11,574 | -24.1% |
| Other amounts payable | 47/48 | €11,268 | €7,955 | -€3,313 | -29.4% |
| Accrued charges and deferred income | 492/3 | €18,909 | €19,054 | +€145 | +0.8% |
| Non-recurring operating income | 76A | €209,469 | - | -€209,469 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,827 | €180,705 | -€9,122 | -4.8% |
| Other operating charges | 640/8 | €25,948 | €21,526 | -€4,422 | -17.0% |
| Gross operating margin | 9900 | €600,567 | €409,484 | -€191,083 | -31.8% |
| Operating profit (loss) | 9901 | €384,793 | €207,253 | -€177,540 | -46.1% |
| Financial income | 75/76B | €1,331 | €3,445 | +€2,114 | +159% |
| Recurring financial income | 75 | €1,331 | €3,445 | +€2,114 | +159% |
| Financial charges | 65/66B | €185,938 | €166,214 | -€19,724 | -10.6% |
| Recurring financial charges | 65 | €185,938 | €166,214 | -€19,724 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €200,187 | €44,484 | -€155,703 | -77.8% |
| Transfer from deferred taxes | 780 | €1,692 | €2,095 | +€403 | +23.8% |
| Transfer to deferred taxes | 680 | €52,367 | - | -€52,367 | |
| Income taxes | 67/77 | €0 | €5,993 | +€5,993 | +59,927,600% |
| Profit (loss) for the period | 9904 | €149,511 | €40,586 | -€108,925 | -72.9% |
| Transfer from tax-exempt reserves | 789 | €5,075 | €6,284 | +€1,209 | +23.8% |
| Transfer to tax-exempt reserves | 689 | €157,102 | - | -€157,102 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,516 | €46,870 | +€49,386 |
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 22 October 2026 via checked.be.