Cosma: 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.
Cosma
Largest movements
- Receivables within one year -€12,403
down €12,403 (-40.2%), from €30,825 to €18,422
of which Trade receivables: -€11,472
- Cash -€3,907
down €3,907 (-26.9%), from €14,511 to €10,605
mainly Debts after one year (-€67,097) and Investment in fixed assets (net) (-€39,514)
- Debts after one year -€67,097
down €67,097 (-15.3%), from €438,876 to €371,779
- Trade debts +€27,500
up €27,500 (+240.3%), from €11,444 to €38,944
- Profit (loss) carried forward +€21,148
up €21,148 (+8.5%), from -€248,273 to -€227,125
- Gross operating margin +€15,630
up €15,630 (+4.4%), from €352,588 to €368,218
- Staff costs -€11,910
down €11,910 (-3.9%), from €306,224 to €294,314
- Depreciation +€4,610
up €4,610 (+13.8%), from €33,508 to €38,118
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 | €295,505 | €278,410 | -€17,094 | -5.8% |
| Fixed assets | 21/28 | €230,596 | €231,992 | +€1,396 | +0.6% |
| Tangible fixed assets | 22/27 | €228,796 | €230,192 | +€1,396 | +0.6% |
| Land and buildings | 22 | €211,585 | €203,253 | -€8,333 | -3.9% |
| Plant, machinery and equipment | 23 | €6,387 | €19,910 | +€13,523 | +211.7% |
| Furniture and vehicles | 24 | €10,824 | €7,029 | -€3,795 | -35.1% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €64,909 | €46,419 | -€18,490 | -28.5% |
| Stocks and contracts in progress | 3 | €4,273 | €4,271 | -€2 | 0.0% |
| Stocks | 30/36 | €4,273 | €4,271 | -€2 | 0.0% |
| Amounts receivable within one year | 40/41 | €30,825 | €18,422 | -€12,403 | -40.2% |
| Trade receivables | 40 | €24,154 | €12,681 | -€11,472 | -47.5% |
| Other amounts receivable | 41 | €6,671 | €5,740 | -€931 | -14.0% |
| Cash at bank and in hand | 54/58 | €14,511 | €10,605 | -€3,907 | -26.9% |
| Deferred charges and accrued income | 490/1 | €15,299 | €13,121 | -€2,178 | -14.2% |
| Total equity and liabilities | 10/49 | €295,505 | €278,410 | -€17,094 | -5.8% |
| Equity | 10/15 | -€195,813 | -€174,665 | +€21,148 | +10.8% |
| Contributions | 10/11 | €50,600 | €50,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,273 | -€227,125 | +€21,148 | +8.5% |
| Amounts payable | 17/49 | €491,318 | €453,076 | -€38,242 | -7.8% |
| Amounts payable after more than one year | 17 | €438,876 | €371,779 | -€67,097 | -15.3% |
| Financial debts | 170/4 | €438,876 | €371,779 | -€67,097 | -15.3% |
| Amounts payable within one year | 42/48 | €52,442 | €81,297 | +€28,854 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €11,775 | €12,097 | +€322 | +2.7% |
| Trade debts | 44 | €11,444 | €38,944 | +€27,500 | +240.3% |
| Suppliers | 440/4 | €11,444 | €38,944 | +€27,500 | +240.3% |
| Taxes, remuneration and social security | 45 | €27,981 | €29,407 | +€1,426 | +5.1% |
| Taxes | 450/3 | €9,792 | €8,383 | -€1,409 | -14.4% |
| Remuneration and social security | 454/9 | €18,189 | €21,024 | +€2,835 | +15.6% |
| Other amounts payable | 47/48 | €1,242 | €849 | -€393 | -31.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €306,224 | €294,314 | -€11,910 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,508 | €38,118 | +€4,610 | +13.8% |
| Other operating charges | 640/8 | €3,061 | €2,837 | -€224 | -7.3% |
| Gross operating margin | 9900 | €352,588 | €368,218 | +€15,630 | +4.4% |
| Operating profit (loss) | 9901 | €9,795 | €32,949 | +€23,154 | +236.4% |
| Financial income | 75/76B | €2,020 | €50 | -€1,970 | -97.5% |
| Recurring financial income | 75 | €2,020 | €50 | -€1,970 | -97.5% |
| Financial charges | 65/66B | €10,435 | €11,378 | +€943 | +9.0% |
| Recurring financial charges | 65 | €10,435 | €11,378 | +€943 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €1,380 | €21,620 | +€20,240 | +1466.3% |
| Income taxes | 67/77 | €325 | €473 | +€148 | +45.5% |
| Profit (loss) for the period | 9904 | €1,056 | €21,148 | +€20,092 | +1903.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,056 | €21,148 | +€20,092 | +1903.4% |
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 7 October 2026 via checked.be.