COSITRA: 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.
COSITRA
Largest movements
- Receivables within one year +€96,510
up €96,510 (+66.0%), from €146,272 to €242,781
of which Trade receivables: +€105,923
- Tangible fixed assets -€51,418
down €51,418 (-18.8%), from €273,468 to €222,050
of which Leasing and similar rights: -€39,490
- Deferred charges and accrued income -€36,492
down €36,492 (-65.4%), from €55,778 to €19,286
- Cash +€22,193
up €22,193 (+260%), from €8,534 to €30,727
mainly Depreciation (+€87,839) and Net result for the year (+€78,946)
- Debts after one year -€64,033
down €64,033 (-47.9%), from €133,774 to €69,741
- Profit (loss) carried forward +€57,446
up €57,446 (+32.5%), from €176,561 to €234,006
- Other debts +€23,089
up €23,089 (+267%), from €8,657 to €31,745
- Tax, wage and social debts +€11,167
up €11,167 (+58.8%), from €18,982 to €30,149
of which Taxes: +€9,512
- Gross operating margin +€92,245
up €92,245 (+19.2%), from €479,798 to €572,043
- Staff costs +€59,911
up €59,911 (+24.6%), from €243,770 to €303,681
- Financial income -€12,471
down €12,471 (-93.0%), from €13,406 to €935
- Depreciation -€8,739
down €8,739 (-9.0%), from €96,577 to €87,839
- Taxes +€7,510
up €7,510 (+60.7%), from €12,382 to €19,892
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 | €501,613 | €531,944 | +€30,332 | +6.0% |
| Fixed assets | 21/28 | €276,592 | €225,174 | -€51,418 | -18.6% |
| Tangible fixed assets | 22/27 | €273,468 | €222,050 | -€51,418 | -18.8% |
| Plant, machinery and equipment | 23 | €42,047 | €39,536 | -€2,511 | -6.0% |
| Furniture and vehicles | 24 | €111,205 | €111,788 | +€582 | +0.5% |
| Leasing and similar rights | 25 | €110,216 | €70,726 | -€39,490 | -35.8% |
| Assets under construction and advance payments | 27 | €10,000 | - | -€10,000 | |
| Financial fixed assets | 28 | €3,124 | €3,124 | = | 0.0% |
| Current assets | 29/58 | €225,021 | €306,770 | +€81,750 | +36.3% |
| Stocks and contracts in progress | 3 | €14,437 | €13,976 | -€461 | -3.2% |
| Stocks | 30/36 | €14,437 | €13,976 | -€461 | -3.2% |
| Amounts receivable within one year | 40/41 | €146,272 | €242,781 | +€96,510 | +66.0% |
| Trade receivables | 40 | €135,316 | €241,239 | +€105,923 | +78.3% |
| Other amounts receivable | 41 | €10,955 | €1,542 | -€9,413 | -85.9% |
| Cash at bank and in hand | 54/58 | €8,534 | €30,727 | +€22,193 | +260% |
| Deferred charges and accrued income | 490/1 | €55,778 | €19,286 | -€36,492 | -65.4% |
| Total equity and liabilities | 10/49 | €501,613 | €531,944 | +€30,332 | +6.0% |
| Equity | 10/15 | €197,206 | €254,033 | +€56,828 | +28.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,561 | €234,006 | +€57,446 | +32.5% |
| Investment grants | 15 | €645 | €27 | -€618 | -95.8% |
| Amounts payable | 17/49 | €304,407 | €277,911 | -€26,496 | -8.7% |
| Amounts payable after more than one year | 17 | €133,774 | €69,741 | -€64,033 | -47.9% |
| Financial debts | 170/4 | €133,774 | €69,741 | -€64,033 | -47.9% |
| Amounts payable within one year | 42/48 | €170,633 | €206,903 | +€36,270 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €68,605 | €72,920 | +€4,316 | +6.3% |
| Trade debts | 44 | €74,390 | €72,088 | -€2,301 | -3.1% |
| Suppliers | 440/4 | €74,390 | €72,088 | -€2,301 | -3.1% |
| Taxes, remuneration and social security | 45 | €18,982 | €30,149 | +€11,167 | +58.8% |
| Taxes | 450/3 | €2,433 | €11,945 | +€9,512 | +391% |
| Remuneration and social security | 454/9 | €16,549 | €18,204 | +€1,655 | +10.0% |
| Other amounts payable | 47/48 | €8,657 | €31,745 | +€23,089 | +267% |
| Accrued charges and deferred income | 492/3 | - | €1,266 | +€1,266 | |
| Remuneration, social security and pensions | 62 | €243,770 | €303,681 | +€59,911 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,577 | €87,839 | -€8,739 | -9.0% |
| Other operating charges | 640/8 | €73,502 | €70,207 | -€3,294 | -4.5% |
| Gross operating margin | 9900 | €479,798 | €572,043 | +€92,245 | +19.2% |
| Operating profit (loss) | 9901 | €65,949 | €110,316 | +€44,367 | +67.3% |
| Financial income | 75/76B | €13,406 | €935 | -€12,471 | -93.0% |
| Recurring financial income | 75 | €13,406 | €935 | -€12,471 | -93.0% |
| Financial charges | 65/66B | €13,889 | €12,413 | -€1,476 | -10.6% |
| Recurring financial charges | 65 | €13,889 | €12,413 | -€1,476 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €65,466 | €98,838 | +€33,372 | +51.0% |
| Income taxes | 67/77 | €12,382 | €19,892 | +€7,510 | +60.7% |
| Profit (loss) for the period | 9904 | €53,083 | €78,946 | +€25,862 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,083 | €78,946 | +€25,862 | +48.7% |
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 18 October 2026 via checked.be.