COSO: 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.
COSO
Largest movements
- Cash -€37,291
down €37,291 (-18.5%), from €201,274 to €163,983
mainly Debts after one year (-€39,277) and Contributions, distributions and other (-€21,772)
- Current investments -€25,385
down €25,385 (-28.1%), from €90,416 to €65,031
- Debts after one year -€39,277
down €39,277 (-81.3%), from €48,326 to €9,049
- Tax, wage and social debts -€16,658
down €16,658 (-83.7%), from €19,900 to €3,242
- Reserves -€10,570
down €10,570 (-3.9%), from €274,195 to €263,626
of which Distributable reserves: -€9,739
- Financial charges -€116,995
down €116,995 (-95.3%), from €122,818 to €5,823
- Gross operating margin -€98,999
down €98,999 (-94.6%), from €104,700 to €5,701
- Taxes -€80,842
down €80,842 (-93.2%), from €86,776 to €5,934
- Financial income +€18,324
up €18,324 (+320.3%), from €5,720 to €24,044
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 | €441,315 | €373,879 | -€67,436 | -15.3% |
| Fixed assets | 21/28 | €148,769 | €144,865 | -€3,904 | -2.6% |
| Tangible fixed assets | 22/27 | €148,074 | €144,144 | -€3,930 | -2.7% |
| Land and buildings | 22 | €147,023 | €143,444 | -€3,580 | -2.4% |
| Plant, machinery and equipment | 23 | €1,051 | €700 | -€350 | -33.3% |
| Financial fixed assets | 28 | €695 | €721 | +€26 | +3.8% |
| Current assets | 29/58 | €292,546 | €229,014 | -€63,532 | -21.7% |
| Amounts receivable within one year | 40/41 | €856 | - | -€856 | |
| Trade receivables | 40 | €856 | - | -€856 | |
| Current investments | 50/53 | €90,416 | €65,031 | -€25,385 | -28.1% |
| Cash at bank and in hand | 54/58 | €201,274 | €163,983 | -€37,291 | -18.5% |
| Total equity and liabilities | 10/49 | €441,315 | €373,879 | -€67,436 | -15.3% |
| Equity | 10/15 | €364,565 | €353,995 | -€10,570 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €71,770 | €71,770 | = | 0.0% |
| Reserves | 13 | €274,195 | €263,626 | -€10,570 | -3.9% |
| Tax-exempt reserves | 132 | €9,113 | €8,282 | -€831 | -9.1% |
| Distributable reserves | 133 | €265,082 | €255,344 | -€9,739 | -3.7% |
| Provisions and deferred taxes | 16 | €3,038 | €2,761 | -€277 | -9.1% |
| Deferred taxes | 168 | €3,038 | €2,761 | -€277 | -9.1% |
| Amounts payable | 17/49 | €73,712 | €17,123 | -€56,589 | -76.8% |
| Amounts payable after more than one year | 17 | €48,326 | €9,049 | -€39,277 | -81.3% |
| Financial debts | 170/4 | €48,326 | €9,049 | -€39,277 | -81.3% |
| Amounts payable within one year | 42/48 | €22,447 | €6,262 | -€16,185 | -72.1% |
| Trade debts | 44 | €2,408 | €2,547 | +€140 | +5.8% |
| Suppliers | 440/4 | €2,408 | €2,547 | +€140 | +5.8% |
| Taxes, remuneration and social security | 45 | €19,900 | €3,242 | -€16,658 | -83.7% |
| Taxes | 450/3 | €19,900 | €3,242 | -€16,658 | -83.7% |
| Other amounts payable | 47/48 | €139 | €473 | +€334 | +240.6% |
| Accrued charges and deferred income | 492/3 | €2,939 | €1,812 | -€1,127 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,999 | €3,930 | -€69 | -1.7% |
| Other operating charges | 640/8 | €2,105 | €3,133 | +€1,028 | +48.8% |
| Gross operating margin | 9900 | €104,700 | €5,701 | -€98,999 | -94.6% |
| Operating profit (loss) | 9901 | €98,596 | -€1,362 | -€99,958 | |
| Financial income | 75/76B | €5,720 | €24,044 | +€18,324 | +320.3% |
| Recurring financial income | 75 | €5,720 | €24,044 | +€18,324 | +320.3% |
| Financial charges | 65/66B | €122,818 | €5,823 | -€116,995 | -95.3% |
| Recurring financial charges | 65 | €122,818 | €5,823 | -€116,995 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,502 | €16,859 | +€35,361 | |
| Transfer from deferred taxes | 780 | €67,438 | €277 | -€67,161 | -99.6% |
| Income taxes | 67/77 | €86,776 | €5,934 | -€80,842 | -93.2% |
| Profit (loss) for the period | 9904 | -€37,840 | €11,202 | +€49,042 | |
| Transfer from tax-exempt reserves | 789 | €220,276 | €831 | -€219,445 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €182,437 | €12,033 | -€170,403 | -93.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.