COSMAR: 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.
COSMAR
Largest movements
- Receivables within one year -€154,056
down €154,056 (-44.9%), from €343,083 to €189,027
of which Other amounts receivable: -€173,331
- Cash +€133,308
up €133,308 (+63.6%), from €209,453 to €342,761
mainly Net result for the year (+€244,244) and Receivables within one year (+€154,056)
- Tangible fixed assets -€8,181
down €8,181 (-56.6%), from €14,458 to €6,277
of which Leasing and similar rights: -€8,896
- Other debts -€313,546
down €313,546 (-97.9%), from €320,181 to €6,635
- Reserves +€244,244
up €244,244 (+83.8%), from €291,454 to €535,698
- Trade debts +€20,396
up €20,396 (+32.9%), from €61,955 to €82,351
- Tax, wage and social debts +€18,028
up €18,028 (+59.6%), from €30,256 to €48,284
of which Taxes: +€26,936
- Gross operating margin +€62,374
up €62,374 (+18.4%), from €338,212 to €400,586
- Staff costs -€27,634
down €27,634 (-34.5%), from €80,192 to €52,558
- Taxes +€25,602
up €25,602 (+43.5%), from €58,903 to €84,504
- Financial charges -€4,543
down €4,543 (-37.4%), from €12,146 to €7,602
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 | €716,246 | €685,368 | -€30,879 | -4.3% |
| Fixed assets | 21/28 | €14,698 | €6,517 | -€8,181 | -55.7% |
| Tangible fixed assets | 22/27 | €14,458 | €6,277 | -€8,181 | -56.6% |
| Plant, machinery and equipment | 23 | €357 | €1,649 | +€1,292 | +361.8% |
| Furniture and vehicles | 24 | €1,423 | €845 | -€577 | -40.6% |
| Leasing and similar rights | 25 | €12,678 | €3,782 | -€8,896 | -70.2% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €701,549 | €678,851 | -€22,698 | -3.2% |
| Amounts receivable after more than one year | 29 | €30,916 | €30,916 | = | 0.0% |
| Other amounts receivable | 291 | €30,916 | €30,916 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €343,083 | €189,027 | -€154,056 | -44.9% |
| Trade receivables | 40 | €117,209 | €136,484 | +€19,275 | +16.4% |
| Other amounts receivable | 41 | €225,874 | €52,542 | -€173,331 | -76.7% |
| Current investments | 50/53 | €114,779 | €114,779 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €209,453 | €342,761 | +€133,308 | +63.6% |
| Deferred charges and accrued income | 490/1 | €3,318 | €1,369 | -€1,950 | -58.8% |
| Total equity and liabilities | 10/49 | €716,246 | €685,368 | -€30,879 | -4.3% |
| Equity | 10/15 | €303,854 | €548,098 | +€244,244 | +80.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €291,454 | €535,698 | +€244,244 | +83.8% |
| Distributable reserves | 133 | €291,454 | €535,698 | +€244,244 | +83.8% |
| Amounts payable | 17/49 | €412,392 | €137,270 | -€275,122 | -66.7% |
| Amounts payable within one year | 42/48 | €412,392 | €137,270 | -€275,122 | -66.7% |
| Trade debts | 44 | €61,955 | €82,351 | +€20,396 | +32.9% |
| Suppliers | 440/4 | €61,955 | €82,351 | +€20,396 | +32.9% |
| Taxes, remuneration and social security | 45 | €30,256 | €48,284 | +€18,028 | +59.6% |
| Taxes | 450/3 | €15,189 | €42,125 | +€26,936 | +177.3% |
| Remuneration and social security | 454/9 | €15,067 | €6,159 | -€8,908 | -59.1% |
| Other amounts payable | 47/48 | €320,181 | €6,635 | -€313,546 | -97.9% |
| Remuneration, social security and pensions | 62 | €80,192 | €52,558 | -€27,634 | -34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,900 | €10,203 | +€303 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,194 | - | +€1,194 | |
| Other operating charges | 640/8 | €2,201 | €1,474 | -€727 | -33.0% |
| Gross operating margin | 9900 | €338,212 | €400,586 | +€62,374 | +18.4% |
| Operating profit (loss) | 9901 | €247,113 | €336,350 | +€89,238 | +36.1% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €12,146 | €7,602 | -€4,543 | -37.4% |
| Recurring financial charges | 65 | €12,146 | €7,602 | -€4,543 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €234,988 | €328,748 | +€93,760 | +39.9% |
| Income taxes | 67/77 | €58,903 | €84,504 | +€25,602 | +43.5% |
| Profit (loss) for the period | 9904 | €176,085 | €244,244 | +€68,159 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €176,085 | €244,244 | +€68,159 | +38.7% |
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 3 October 2026 via checked.be.