COSIM: 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.
COSIM
Largest movements
- Cash -€78,182
down €78,182 (-32.8%), from €238,359 to €160,177
mainly Investment in fixed assets (net) (-€83,731) and Debts after one year (-€76,443)
- Tangible fixed assets -€11,610
down €11,610 (-3.4%), from €337,246 to €325,636
- Debts after one year -€76,443
down €76,443 (-24.9%), from €307,312 to €230,869
of which Financial debts: -€50,275
- Profit (loss) carried forward -€32,459
down €32,459, from €0 to -€32,459
- Trade debts +€19,366
up €19,366 (+131.3%), from €14,754 to €34,120
- Gross operating margin -€37,014
down €37,014 (-25.0%), from €148,320 to €111,306
- Depreciation +€20,884
up €20,884 (+28.0%), from €74,456 to €95,339
- Staff costs -€15,032
down €15,032 (-100.0%), from €15,032 to €0
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 | €600,998 | €510,250 | -€90,748 | -15.1% |
| Fixed assets | 21/28 | €337,825 | €326,216 | -€11,609 | -3.4% |
| Tangible fixed assets | 22/27 | €337,246 | €325,636 | -€11,610 | -3.4% |
| Land and buildings | 22 | €274,351 | €269,691 | -€4,661 | -1.7% |
| Plant, machinery and equipment | 23 | €42,381 | €40,029 | -€2,352 | -5.5% |
| Furniture and vehicles | 24 | €20,513 | €15,916 | -€4,598 | -22.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €579 | €581 | +€1 | +0.2% |
| Current assets | 29/58 | €263,173 | €184,033 | -€79,139 | -30.1% |
| Stocks and contracts in progress | 3 | €5,856 | €6,203 | +€348 | +5.9% |
| Stocks | 30/36 | €5,856 | €6,203 | +€348 | +5.9% |
| Amounts receivable within one year | 40/41 | €16,280 | €12,273 | -€4,007 | -24.6% |
| Trade receivables | 40 | €9,192 | €12,103 | +€2,911 | +31.7% |
| Other amounts receivable | 41 | €7,088 | €170 | -€6,918 | -97.6% |
| Cash at bank and in hand | 54/58 | €238,359 | €160,177 | -€78,182 | -32.8% |
| Deferred charges and accrued income | 490/1 | €2,678 | €5,380 | +€2,703 | +100.9% |
| Total equity and liabilities | 10/49 | €600,998 | €510,250 | -€90,748 | -15.1% |
| Equity | 10/15 | €209,252 | €173,690 | -€35,563 | -17.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €9,252 | €6,148 | -€3,104 | -33.5% |
| Non-distributable reserves | 130/1 | €5 | €5 | = | 0.0% |
| Legal reserve | 130 | €5 | €5 | = | 0.0% |
| Distributable reserves | 133 | €9,247 | €6,143 | -€3,104 | -33.6% |
| Profit (loss) carried forward | 14 | €0 | -€32,459 | -€32,459 | |
| Amounts payable | 17/49 | €391,745 | €336,560 | -€55,185 | -14.1% |
| Amounts payable after more than one year | 17 | €307,312 | €230,869 | -€76,443 | -24.9% |
| Financial debts | 170/4 | €131,845 | €81,570 | -€50,275 | -38.1% |
| Other amounts payable | 178/9 | €175,467 | €149,299 | -€26,168 | -14.9% |
| Amounts payable within one year | 42/48 | €73,279 | €94,079 | +€20,800 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €49,550 | €50,275 | +€725 | +1.5% |
| Trade debts | 44 | €14,754 | €34,120 | +€19,366 | +131.3% |
| Suppliers | 440/4 | €14,754 | €34,120 | +€19,366 | +131.3% |
| Taxes, remuneration and social security | 45 | €8,675 | €9,383 | +€708 | +8.2% |
| Taxes | 450/3 | €5,925 | €6,633 | +€708 | +12.0% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | €300 | €300 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €11,155 | €11,613 | +€458 | +4.1% |
| Remuneration, social security and pensions | 62 | €15,032 | €0 | -€15,032 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,456 | €95,339 | +€20,884 | +28.0% |
| Other operating charges | 640/8 | €31,214 | €31,301 | +€87 | +0.3% |
| Gross operating margin | 9900 | €148,320 | €111,306 | -€37,014 | -25.0% |
| Operating profit (loss) | 9901 | €27,619 | -€15,334 | -€42,953 | |
| Financial income | 75/76B | €1,796 | €567 | -€1,229 | -68.4% |
| Recurring financial income | 75 | €1,796 | €567 | -€1,229 | -68.4% |
| Financial charges | 65/66B | €19,093 | €20,351 | +€1,258 | +6.6% |
| Recurring financial charges | 65 | €19,093 | €20,351 | +€1,258 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €10,322 | -€35,118 | -€45,440 | |
| Income taxes | 67/77 | €1,656 | €445 | -€1,211 | -73.1% |
| Profit (loss) for the period | 9904 | €8,666 | -€35,563 | -€44,229 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,666 | -€35,563 | -€44,229 |
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 1 October 2026 via checked.be.