COSEMI: 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.
COSEMI
Largest movements
- Cash +€12,160
up €12,160 (+283%), from €4,290 to €16,451
mainly Net result for the year (+€11,566) and Depreciation (+€9,722)
- Tangible fixed assets -€8,393
down €8,393 (-85.3%), from €9,838 to €1,445
- Deferred charges and accrued income +€1,889
up €1,889 (+93.9%), from €2,011 to €3,900
- Reserves +€11,566
up €11,566 (+73.7%), from €15,694 to €27,260
- Current portion of long-term debt -€9,771
no longer reported in 2026 (was €9,771)
- Other debts +€3,559
up €3,559 (+72.8%), from €4,891 to €8,450
- Trade debts -€1,475
down €1,475 (-57.9%), from €2,550 to €1,074
- Tax, wage and social debts +€1,062
up €1,062 (+11.4%), from €9,303 to €10,365
of which Taxes: +€1,062
- Gross operating margin +€28,994
up €28,994, from -€1,198 to €27,796
- Taxes +€4,385
up €4,385 (+874%), from €501 to €4,886
- Financial income -€766
down €766 (-30.5%), from €2,509 to €1,743
- Other operating charges +€445
up €445 (+18.3%), from €2,432 to €2,877
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,669 | €70,609 | +€4,940 | +7.5% |
| Fixed assets | 21/28 | €9,839 | €1,446 | -€8,393 | -85.3% |
| Tangible fixed assets | 22/27 | €9,838 | €1,445 | -€8,393 | -85.3% |
| Furniture and vehicles | 24 | €9,838 | €1,445 | -€8,393 | -85.3% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €55,830 | €69,163 | +€13,333 | +23.9% |
| Amounts receivable within one year | 40/41 | €44,735 | €44,159 | -€576 | -1.3% |
| Trade receivables | 40 | €29,736 | €9,340 | -€20,396 | -68.6% |
| Other amounts receivable | 41 | €14,999 | €34,819 | +€19,820 | +132% |
| Current investments | 50/53 | €4,794 | €4,654 | -€140 | -2.9% |
| Cash at bank and in hand | 54/58 | €4,290 | €16,451 | +€12,160 | +283% |
| Deferred charges and accrued income | 490/1 | €2,011 | €3,900 | +€1,889 | +93.9% |
| Total equity and liabilities | 10/49 | €65,669 | €70,609 | +€4,940 | +7.5% |
| Equity | 10/15 | €39,154 | €50,720 | +€11,566 | +29.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €15,694 | €27,260 | +€11,566 | +73.7% |
| Distributable reserves | 133 | €15,694 | €27,260 | +€11,566 | +73.7% |
| Profit (loss) carried forward | 14 | €20,960 | €20,960 | = | 0.0% |
| Amounts payable | 17/49 | €26,515 | €19,889 | -€6,626 | -25.0% |
| Amounts payable within one year | 42/48 | €26,515 | €19,889 | -€6,626 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €9,771 | - | -€9,771 | |
| Trade debts | 44 | €2,550 | €1,074 | -€1,475 | -57.9% |
| Suppliers | 440/4 | €2,550 | €1,074 | -€1,475 | -57.9% |
| Taxes, remuneration and social security | 45 | €9,303 | €10,365 | +€1,062 | +11.4% |
| Taxes | 450/3 | €6,453 | €7,515 | +€1,062 | +16.5% |
| Remuneration and social security | 454/9 | €2,850 | €2,850 | = | 0.0% |
| Other amounts payable | 47/48 | €4,891 | €8,450 | +€3,559 | +72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,559 | €9,722 | +€163 | +1.7% |
| Other operating charges | 640/8 | €2,432 | €2,877 | +€445 | +18.3% |
| Gross operating margin | 9900 | -€1,198 | €27,796 | +€28,994 | |
| Operating profit (loss) | 9901 | -€13,189 | €15,196 | +€28,386 | |
| Financial income | 75/76B | €2,509 | €1,743 | -€766 | -30.5% |
| Recurring financial income | 75 | €2,509 | €1,743 | -€766 | -30.5% |
| Financial charges | 65/66B | €283 | €487 | +€204 | +71.9% |
| Recurring financial charges | 65 | €283 | €487 | +€204 | +71.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,964 | €16,452 | +€27,416 | |
| Income taxes | 67/77 | €501 | €4,886 | +€4,385 | +874% |
| Profit (loss) for the period | 9904 | -€11,465 | €11,566 | +€23,031 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,465 | €11,566 | +€23,031 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.