cosima: 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.
cosima
Largest movements
- Cash +€22,396
up €22,396 (+8.6%), from €260,654 to €283,050
mainly Net result for the year (+€28,455) and Receivables within one year (+€4,135)
- Receivables within one year -€4,135
down €4,135 (-12.6%), from €32,824 to €28,689
of which Trade receivables: -€4,627
- Reserves +€28,455
up €28,455 (+10.2%), from €278,572 to €307,027
of which Distributable reserves: +€28,455
- Other debts -€9,692
down €9,692 (-69.3%), from €13,981 to €4,289
- Gross operating margin -€2,354
down €2,354 (-4.6%), from €51,237 to €48,883
- Financial charges -€804
down €804 (-14.5%), from €5,534 to €4,730
- Depreciation +€629
up €629 (+34.4%), from €1,832 to €2,461
- Taxes -€627
down €627 (-4.9%), from €12,713 to €12,086
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 | €308,427 | €324,236 | +€15,809 | +5.1% |
| Fixed assets | 21/28 | €10,225 | €9,980 | -€245 | -2.4% |
| Tangible fixed assets | 22/27 | €8,425 | €8,180 | -€245 | -2.9% |
| Land and buildings | 22 | €3,923 | €3,288 | -€634 | -16.2% |
| Plant, machinery and equipment | 23 | €1,167 | €980 | -€187 | -16.0% |
| Furniture and vehicles | 24 | €3,335 | €3,911 | +€576 | +17.3% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €298,201 | €314,256 | +€16,055 | +5.4% |
| Amounts receivable within one year | 40/41 | €32,824 | €28,689 | -€4,135 | -12.6% |
| Trade receivables | 40 | €30,316 | €25,688 | -€4,627 | -15.3% |
| Other amounts receivable | 41 | €2,508 | €3,001 | +€492 | +19.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €260,654 | €283,050 | +€22,396 | +8.6% |
| Deferred charges and accrued income | 490/1 | €4,723 | €2,516 | -€2,207 | -46.7% |
| Total equity and liabilities | 10/49 | €308,427 | €324,236 | +€15,809 | +5.1% |
| Equity | 10/15 | €284,772 | €313,227 | +€28,455 | +10.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €278,572 | €307,027 | +€28,455 | +10.2% |
| Tax-exempt reserves | 132 | €787 | €787 | = | 0.0% |
| Distributable reserves | 133 | €277,785 | €306,240 | +€28,455 | +10.2% |
| Amounts payable | 17/49 | €23,655 | €11,009 | -€12,646 | -53.5% |
| Amounts payable within one year | 42/48 | €23,655 | €11,009 | -€12,646 | -53.5% |
| Financial debts | 43 | €493 | €211 | -€282 | -57.2% |
| Credit institutions | 430/8 | €493 | €211 | -€282 | -57.2% |
| Trade debts | 44 | €5,016 | €3,652 | -€1,364 | -27.2% |
| Suppliers | 440/4 | €5,016 | €3,652 | -€1,364 | -27.2% |
| Taxes, remuneration and social security | 45 | €4,166 | €2,857 | -€1,309 | -31.4% |
| Taxes | 450/3 | €4,166 | €2,857 | -€1,309 | -31.4% |
| Other amounts payable | 47/48 | €13,981 | €4,289 | -€9,692 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,832 | €2,461 | +€629 | +34.4% |
| Other operating charges | 640/8 | €1,521 | €1,441 | -€80 | -5.3% |
| Gross operating margin | 9900 | €51,237 | €48,883 | -€2,354 | -4.6% |
| Operating profit (loss) | 9901 | €47,884 | €44,981 | -€2,903 | -6.1% |
| Financial income | 75/76B | €739 | €290 | -€449 | -60.8% |
| Recurring financial income | 75 | €739 | €290 | -€449 | -60.8% |
| Financial charges | 65/66B | €5,534 | €4,730 | -€804 | -14.5% |
| Recurring financial charges | 65 | €5,534 | €4,730 | -€804 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €43,089 | €40,541 | -€2,548 | -5.9% |
| Income taxes | 67/77 | €12,713 | €12,086 | -€627 | -4.9% |
| Profit (loss) for the period | 9904 | €30,376 | €28,455 | -€1,921 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,376 | €28,455 | -€1,921 | -6.3% |
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 16 October 2026 via checked.be.