COSEMANS: 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.
COSEMANS
Largest movements
- Receivables within one year -€22,510
down €22,510 (-76.7%), from €29,350 to €6,840
of which Other amounts receivable: -€22,510
- Other debts -€20,435
down €20,435 (-86.8%), from €23,530 to €3,095
- Tax, wage and social debts -€10,900
down €10,900 (-56.8%), from €19,198 to €8,298
- Reserves +€7,399
up €7,399 (+3.2%), from €234,180 to €241,579
- Gross operating margin -€15,463
down €15,463 (-35.3%), from €43,762 to €28,299
- Taxes -€5,084
down €5,084 (-59.2%), from €8,588 to €3,503
- Other operating charges -€1,750
down €1,750 (-13.8%), from €12,704 to €10,954
- Financial income -€565
down €565 (-31.9%), from €1,771 to €1,205
of which Financial income: -€1,238
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 | €332,143 | €305,162 | -€26,982 | -8.1% |
| Fixed assets | 21/28 | €131,791 | €130,578 | -€1,213 | -0.9% |
| Tangible fixed assets | 22/27 | €131,791 | €130,578 | -€1,213 | -0.9% |
| Land and buildings | 22 | €131,791 | €130,578 | -€1,213 | -0.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €200,352 | €174,584 | -€25,768 | -12.9% |
| Amounts receivable within one year | 40/41 | €29,350 | €6,840 | -€22,510 | -76.7% |
| Trade receivables | 40 | €6,095 | €6,095 | = | 0.0% |
| Other amounts receivable | 41 | €23,255 | €745 | -€22,510 | -96.8% |
| Cash at bank and in hand | 54/58 | €171,002 | €167,743 | -€3,258 | -1.9% |
| Total equity and liabilities | 10/49 | €332,143 | €305,162 | -€26,982 | -8.1% |
| Equity | 10/15 | €285,704 | €293,103 | +€7,399 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €234,180 | €241,579 | +€7,399 | +3.2% |
| Distributable reserves | 133 | €234,180 | €241,579 | +€7,399 | +3.2% |
| Profit (loss) carried forward | 14 | €32,924 | €32,924 | = | 0.0% |
| Amounts payable | 17/49 | €46,440 | €12,059 | -€34,381 | -74.0% |
| Amounts payable within one year | 42/48 | €46,440 | €12,059 | -€34,381 | -74.0% |
| Trade debts | 44 | €3,712 | €666 | -€3,046 | -82.1% |
| Suppliers | 440/4 | €3,712 | €666 | -€3,046 | -82.1% |
| Taxes, remuneration and social security | 45 | €19,198 | €8,298 | -€10,900 | -56.8% |
| Taxes | 450/3 | €19,198 | €8,298 | -€10,900 | -56.8% |
| Other amounts payable | 47/48 | €23,530 | €3,095 | -€20,435 | -86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,259 | €7,498 | +€239 | +3.3% |
| Other operating charges | 640/8 | €12,704 | €10,954 | -€1,750 | -13.8% |
| Gross operating margin | 9900 | €43,762 | €28,299 | -€15,463 | -35.3% |
| Operating profit (loss) | 9901 | €23,799 | €9,847 | -€13,952 | -58.6% |
| Financial income | 75/76B | €1,771 | €1,205 | -€565 | -31.9% |
| Recurring financial income | 75 | €1,771 | €533 | -€1,238 | -69.9% |
| Non-recurring financial income | 76B | - | €673 | +€673 | |
| Financial charges | 65/66B | €167 | €150 | -€16 | -9.9% |
| Recurring financial charges | 65 | €167 | €150 | -€16 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €25,403 | €10,902 | -€14,501 | -57.1% |
| Income taxes | 67/77 | €8,588 | €3,503 | -€5,084 | -59.2% |
| Profit (loss) for the period | 9904 | €16,815 | €7,399 | -€9,416 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,815 | €7,399 | -€9,416 | -56.0% |
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.