COSIFARMA: 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.
COSIFARMA
Largest movements
- Current investments +€406,988
up €406,988 (+34.2%), from €1.2m to €1.6m
- Receivables within one year -€329,994
down €329,994 (-90.3%), from €365,309 to €35,314
of which Other amounts receivable: -€302,361
- Cash -€215,968
down €215,968 (-81.3%), from €265,500 to €49,532
mainly Current investments (-€406,988) and Contributions, distributions and other (-€168,746)
- Reserves -€155,113
down €155,113 (-9.1%), from €1.7m to €1.5m
of which Distributable reserves: -€130,764
- Other debts +€127,112
up €127,112 (+58.2%), from €218,576 to €345,688
- Trade debts -€65,715
down €65,715 (-99.2%), from €66,224 to €509
- Debts after one year -€60,445
down €60,445 (-7.7%), from €787,253 to €726,808
- Gross operating margin -€82,157
down €82,157 (-58.1%), from €141,503 to €59,346
- Taxes -€26,703
down €26,703 (-77.9%), from €34,299 to €7,596
- Financial income -€7,726
down €7,726 (-19.2%), from €40,261 to €32,534
- Financial charges +€4,644
up €4,644 (+28.2%), from €16,452 to €21,096
- Depreciation +€2,150
up €2,150 (+5.2%), from €41,481 to €43,631
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 | €2,846,803 | €2,694,467 | -€152,336 | -5.4% |
| Fixed assets | 21/28 | €1,020,561 | €1,007,582 | -€12,979 | -1.3% |
| Tangible fixed assets | 22/27 | €1,020,561 | €1,007,582 | -€12,979 | -1.3% |
| Land and buildings | 22 | €610,857 | €596,472 | -€14,385 | -2.4% |
| Plant, machinery and equipment | 23 | €398,973 | €375,578 | -€23,394 | -5.9% |
| Furniture and vehicles | 24 | €10,731 | €35,531 | +€24,801 | +231% |
| Current assets | 29/58 | €1,826,242 | €1,686,885 | -€139,357 | -7.6% |
| Amounts receivable within one year | 40/41 | €365,309 | €35,314 | -€329,994 | -90.3% |
| Trade receivables | 40 | €42,831 | €15,197 | -€27,633 | -64.5% |
| Other amounts receivable | 41 | €322,478 | €20,117 | -€302,361 | -93.8% |
| Current investments | 50/53 | €1,190,724 | €1,597,711 | +€406,988 | +34.2% |
| Cash at bank and in hand | 54/58 | €265,500 | €49,532 | -€215,968 | -81.3% |
| Deferred charges and accrued income | 490/1 | €4,710 | €4,328 | -€382 | -8.1% |
| Total equity and liabilities | 10/49 | €2,846,803 | €2,694,467 | -€152,336 | -5.4% |
| Equity | 10/15 | €1,710,833 | €1,555,719 | -€155,113 | -9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,704,633 | €1,549,519 | -€155,113 | -9.1% |
| Non-distributable reserves | 130/1 | €24,349 | - | -€24,349 | |
| Reserves not available under the articles | 1311 | €24,349 | - | -€24,349 | |
| Distributable reserves | 133 | €1,680,283 | €1,549,519 | -€130,764 | -7.8% |
| Amounts payable | 17/49 | €1,135,971 | €1,138,748 | +€2,777 | +0.2% |
| Amounts payable after more than one year | 17 | €787,253 | €726,808 | -€60,445 | -7.7% |
| Financial debts | 170/4 | €787,253 | €726,808 | -€60,445 | -7.7% |
| Amounts payable within one year | 42/48 | €348,718 | €408,227 | +€59,510 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €60,965 | €60,445 | -€520 | -0.9% |
| Trade debts | 44 | €66,224 | €509 | -€65,715 | -99.2% |
| Suppliers | 440/4 | €66,224 | €509 | -€65,715 | -99.2% |
| Taxes, remuneration and social security | 45 | €2,952 | €1,585 | -€1,367 | -46.3% |
| Taxes | 450/3 | €2,952 | €1,585 | -€1,367 | -46.3% |
| Other amounts payable | 47/48 | €218,576 | €345,688 | +€127,112 | +58.2% |
| Accrued charges and deferred income | 492/3 | - | €3,713 | +€3,713 | |
| Non-recurring operating income | 76A | - | €5,483 | +€5,483 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,481 | €43,631 | +€2,150 | +5.2% |
| Other operating charges | 640/8 | €5,901 | €5,923 | +€22 | +0.4% |
| Gross operating margin | 9900 | €141,503 | €59,346 | -€82,157 | -58.1% |
| Operating profit (loss) | 9901 | €94,121 | €9,791 | -€84,330 | -89.6% |
| Financial income | 75/76B | €40,261 | €32,534 | -€7,726 | -19.2% |
| Recurring financial income | 75 | €40,261 | €32,534 | -€7,726 | -19.2% |
| Financial charges | 65/66B | €16,452 | €21,096 | +€4,644 | +28.2% |
| Recurring financial charges | 65 | €16,452 | €21,096 | +€4,644 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €117,929 | €21,229 | -€96,700 | -82.0% |
| Income taxes | 67/77 | €34,299 | €7,596 | -€26,703 | -77.9% |
| Profit (loss) for the period | 9904 | €83,630 | €13,633 | -€69,997 | -83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,630 | €13,633 | -€69,997 | -83.7% |
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 24 October 2026 via checked.be.