COSI: 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.
COSI
Largest movements
- Receivables within one year -€66,429
down €66,429 (-75.8%), from €87,591 to €21,162
- Cash -€47,006
down €47,006 (-30.4%), from €154,503 to €107,496
mainly Debts after one year (-€69,545) and Contributions, distributions and other (-€40,408)
- Deferred charges and accrued income +€34,789
up €34,789 (+1,000%), from €3,480 to €38,269
- Debts after one year -€69,545
down €69,545 (-5.7%), from €1.2m to €1.1m
of which Financial debts: -€69,545
- Other debts -€28,709
down €28,709 (-86.0%), from €33,389 to €4,680
- Trade debts +€26,423
up €26,423 (+491%), from €5,380 to €31,802
- Reserves -€21,413
down €21,413 (-3.0%), from €722,758 to €701,346
of which Distributable reserves: -€21,413
- Financial income -€204,430
down €204,430 (-77.8%), from €262,885 to €58,454
- Gross operating margin -€45,961
down €45,961 (-42.5%), from €108,079 to €62,118
- Taxes -€45,845
down €45,845 (-95.7%), from €47,930 to €2,084
- Financial charges -€5,638
down €5,638 (-9.5%), from €59,248 to €53,609
- Staff costs +€2,611
up €2,611 (+13.3%), from €19,572 to €22,183
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,139,975 | €2,044,930 | -€95,045 | -4.4% |
| Fixed assets | 21/28 | €1,566,912 | €1,548,057 | -€18,855 | -1.2% |
| Tangible fixed assets | 22/27 | €66,912 | €48,057 | -€18,855 | -28.2% |
| Plant, machinery and equipment | 23 | €8,275 | €7,811 | -€464 | -5.6% |
| Furniture and vehicles | 24 | €33,079 | €20,840 | -€12,239 | -37.0% |
| Other tangible fixed assets | 26 | €25,557 | €19,406 | -€6,151 | -24.1% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €573,063 | €496,873 | -€76,191 | -13.3% |
| Stocks and contracts in progress | 3 | €79,990 | €82,446 | +€2,456 | +3.1% |
| Stocks | 30/36 | €79,990 | €82,446 | +€2,456 | +3.1% |
| Amounts receivable within one year | 40/41 | €87,591 | €21,162 | -€66,429 | -75.8% |
| Trade receivables | 40 | €87,591 | €21,162 | -€66,429 | -75.8% |
| Current investments | 50/53 | €247,500 | €247,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €154,503 | €107,496 | -€47,006 | -30.4% |
| Deferred charges and accrued income | 490/1 | €3,480 | €38,269 | +€34,789 | +1,000% |
| Total equity and liabilities | 10/49 | €2,139,975 | €2,044,930 | -€95,045 | -4.4% |
| Equity | 10/15 | €784,758 | €763,346 | -€21,413 | -2.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €722,758 | €701,346 | -€21,413 | -3.0% |
| Tax-exempt reserves | 132 | €43,263 | €43,263 | = | 0.0% |
| Distributable reserves | 133 | €679,495 | €658,082 | -€21,413 | -3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,355,217 | €1,281,584 | -€73,633 | -5.4% |
| Amounts payable after more than one year | 17 | €1,217,953 | €1,148,407 | -€69,545 | -5.7% |
| Financial debts | 170/4 | €792,953 | €723,407 | -€69,545 | -8.8% |
| Other amounts payable | 178/9 | €425,000 | €425,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €137,264 | €133,177 | -€4,087 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €66,874 | €69,545 | +€2,672 | +4.0% |
| Trade debts | 44 | €5,380 | €31,802 | +€26,423 | +491% |
| Suppliers | 440/4 | €5,380 | €31,802 | +€26,423 | +491% |
| Taxes, remuneration and social security | 45 | €31,622 | €27,149 | -€4,473 | -14.1% |
| Taxes | 450/3 | €26,673 | €21,722 | -€4,951 | -18.6% |
| Remuneration and social security | 454/9 | €4,948 | €5,427 | +€479 | +9.7% |
| Other amounts payable | 47/48 | €33,389 | €4,680 | -€28,709 | -86.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €19,572 | €22,183 | +€2,611 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,658 | €21,986 | +€328 | +1.5% |
| Other operating charges | 640/8 | €1,466 | €1,716 | +€250 | +17.0% |
| Gross operating margin | 9900 | €108,079 | €62,118 | -€45,961 | -42.5% |
| Operating profit (loss) | 9901 | €65,383 | €16,234 | -€49,149 | -75.2% |
| Financial income | 75/76B | €262,885 | €58,454 | -€204,430 | -77.8% |
| Recurring financial income | 75 | €262,885 | €58,454 | -€204,430 | -77.8% |
| Financial charges | 65/66B | €59,248 | €53,609 | -€5,638 | -9.5% |
| Recurring financial charges | 65 | €59,248 | €53,609 | -€5,638 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €269,020 | €21,079 | -€247,940 | -92.2% |
| Income taxes | 67/77 | €47,930 | €2,084 | -€45,845 | -95.7% |
| Profit (loss) for the period | 9904 | €221,090 | €18,995 | -€202,095 | -91.4% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €178,990 | €18,995 | -€159,995 | -89.4% |
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 13 October 2026 via checked.be.