Cosign: 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.
What changed
Cosign
NACE 46.190, Agents in non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,551
2024 · €103,357-€83,806
Equity
€2.6m
2024 · €2.5m+€19,551
Cash
€352,138
2024 · €460,967-€108,829
Balance sheet total
€5.1m
2024 · €5.1m-€20,385
Largest movements
Assets
- Cash -€108,829
down €108,829 (-23.6%), from €460,967 to €352,138
mainly Receivables after one year (-€101,768) and Investment in fixed assets (net) (-€50,391)
- Receivables after one year +€101,768
up €101,768 (+6.0%), from €1.7m to €1.8m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Staff costs +€107,799
up €107,799 (+26.9%), from €400,068 to €507,866
- Gross operating margin +€61,499
up €61,499 (+9.4%), from €655,448 to €716,947
- Financial income -€54,484
down €54,484 (-53.5%), from €101,759 to €47,274
- Financial charges -€24,950
down €24,950 (-24.2%), from €103,016 to €78,066
- Write-downs -€7,375
no longer reported in 2025 (was €7,375)
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
€103,357
Gross operating margin
+€61,499
Staff costs
-€107,799
Depreciation
-€6,034
Write-downs
+€7,375
Other operating charges
-€4,915
Financial income
-€54,484
Financial charges
+€24,950
Taxes
-€4,397
Result 2025
€19,551
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.
From operations
+€10,985
Investment
-€50,391
Financing
-€69,423
Cash 2024
€460,967
From operations (derived)
+€10,985
Net result for the year
+€19,551
Depreciation
+€115,963
Receivables after one year
-€101,768
Stocks and contracts
-€39,786
Receivables within one year
-€46,944
Deferred charges and accrued income
+€34,482
Trade debts
+€9,210
Tax, wage and social debts
+€24,294
Accrued charges and deferred income
-€4,017
Investment (derived)
-€50,391
Investment in fixed assets (net)
-€50,391
Financing
-€69,423
Debts after one year
-€39,115
Current portion of long-term debt
+€19,691
Short-term financial debts
-€50,000
Cash 2025
€352,138
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,145,073 | €5,124,688 | -€20,385 | -0.4% |
| Fixed assets | 21/28 | €551,268 | €485,696 | -€65,572 | -11.9% |
| Intangible fixed assets | 21 | €87,041 | €63,509 | -€23,532 | -27.0% |
| Tangible fixed assets | 22/27 | €456,479 | €414,438 | -€42,040 | -9.2% |
| Land and buildings | 22 | €370,755 | €348,360 | -€22,395 | -6.0% |
| Plant, machinery and equipment | 23 | €58,215 | €50,833 | -€7,383 | -12.7% |
| Furniture and vehicles | 24 | €5,227 | €754 | -€4,473 | -85.6% |
| Leasing and similar rights | 25 | €22,282 | €14,492 | -€7,790 | -35.0% |
| Financial fixed assets | 28 | €7,749 | €7,749 | = | 0.0% |
| Current assets | 29/58 | €4,593,805 | €4,638,992 | +€45,187 | +1.0% |
| Amounts receivable after more than one year | 29 | €1,688,390 | €1,790,158 | +€101,768 | +6.0% |
| Other amounts receivable | 291 | €1,688,390 | €1,790,158 | +€101,768 | +6.0% |
| Stocks and contracts in progress | 3 | €1,715,347 | €1,755,134 | +€39,786 | +2.3% |
| Stocks | 30/36 | €1,715,347 | €1,755,134 | +€39,786 | +2.3% |
| Amounts receivable within one year | 40/41 | €693,095 | €740,039 | +€46,944 | +6.8% |
| Trade receivables | 40 | €643,339 | €728,614 | +€85,275 | +13.3% |
| Other amounts receivable | 41 | €49,756 | €11,426 | -€38,331 | -77.0% |
| Cash at bank and in hand | 54/58 | €460,967 | €352,138 | -€108,829 | -23.6% |
| Deferred charges and accrued income | 490/1 | €36,006 | €1,524 | -€34,482 | -95.8% |
| Total equity and liabilities | 10/49 | €5,145,073 | €5,124,688 | -€20,385 | -0.4% |
| Equity | 10/15 | €2,532,526 | €2,552,077 | +€19,551 | +0.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €186,285 | €186,285 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €180,088 | €180,088 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,284,268 | €2,303,819 | +€19,551 | +0.9% |
| Amounts payable | 17/49 | €2,612,547 | €2,572,611 | -€39,936 | -1.5% |
| Amounts payable after more than one year | 17 | €1,366,698 | €1,327,584 | -€39,115 | -2.9% |
| Financial debts | 170/4 | €1,366,698 | €1,327,584 | -€39,115 | -2.9% |
| Amounts payable within one year | 42/48 | €1,234,434 | €1,237,629 | +€3,195 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €108,631 | €128,322 | +€19,691 | +18.1% |
| Financial debts | 43 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Credit institutions | 430/8 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Trade debts | 44 | €149,124 | €158,334 | +€9,210 | +6.2% |
| Suppliers | 440/4 | €149,124 | €158,334 | +€9,210 | +6.2% |
| Taxes, remuneration and social security | 45 | €86,678 | €110,973 | +€24,294 | +28.0% |
| Taxes | 450/3 | €18,041 | €17,300 | -€741 | -4.1% |
| Remuneration and social security | 454/9 | €68,637 | €93,672 | +€25,035 | +36.5% |
| Other amounts payable | 47/48 | €140,000 | €140,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €11,415 | €7,398 | -€4,017 | -35.2% |
| Remuneration, social security and pensions | 62 | €400,068 | €507,866 | +€107,799 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,929 | €115,963 | +€6,034 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,375 | - | -€7,375 | |
| Other operating charges | 640/8 | €33,463 | €38,378 | +€4,915 | +14.7% |
| Gross operating margin | 9900 | €655,448 | €716,947 | +€61,499 | +9.4% |
| Operating profit (loss) | 9901 | €104,614 | €54,740 | -€49,874 | -47.7% |
| Financial income | 75/76B | €101,759 | €47,274 | -€54,484 | -53.5% |
| Recurring financial income | 75 | €101,759 | €47,274 | -€54,484 | -53.5% |
| Financial charges | 65/66B | €103,016 | €78,066 | -€24,950 | -24.2% |
| Recurring financial charges | 65 | €103,016 | €78,066 | -€24,950 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €103,357 | €23,949 | -€79,409 | -76.8% |
| Income taxes | 67/77 | €0 | €4,397 | +€4,397 | +3664341.7% |
| Profit (loss) for the period | 9904 | €103,357 | €19,551 | -€83,806 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €103,357 | €19,551 | -€83,806 | -81.1% |
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 6 October 2026 via checked.be.