COSORTHO: 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.
COSORTHO
Largest movements
- Current investments +€180,554
up €180,554 (+56.4%), from €319,966 to €500,520
- Cash -€31,406
down €31,406 (-64.4%), from €48,756 to €17,350
mainly Current investments (-€180,554) and Trade debts (-€125,277)
- Tangible fixed assets +€9,755
up €9,755 (+17.0%), from €57,427 to €67,182
- Receivables within one year +€8,916
up €8,916 (+17.9%), from €49,721 to €58,637
of which Trade receivables: +€14,772
- Reserves +€137,000
up €137,000 (+45.7%), from €300,060 to €437,060
- Trade debts -€125,277
down €125,277 (-95.6%), from €131,100 to €5,823
- Advances received +€125,222
new in 2025: €125,222
- Other debts +€20,708
up €20,708 (+76.5%), from €27,055 to €47,763
- Tax, wage and social debts +€9,397
up €9,397 (+42.3%), from €22,237 to €31,634
of which Taxes: +€9,352
- Gross operating margin +€110,190
up €110,190 (+89.9%), from €122,505 to €232,695
- Taxes +€34,651
up €34,651 (+140%), from €24,723 to €59,374
- Depreciation +€4,150
up €4,150 (+28.7%), from €14,466 to €18,616
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 | €565,854 | €733,643 | +€167,789 | +29.7% |
| Fixed assets | 21/28 | €57,514 | €67,269 | +€9,755 | +17.0% |
| Tangible fixed assets | 22/27 | €57,427 | €67,182 | +€9,755 | +17.0% |
| Furniture and vehicles | 24 | €57,427 | €67,182 | +€9,755 | +17.0% |
| Financial fixed assets | 28 | €87 | €87 | = | 0.0% |
| Current assets | 29/58 | €508,340 | €666,374 | +€158,034 | +31.1% |
| Amounts receivable within one year | 40/41 | €49,721 | €58,637 | +€8,916 | +17.9% |
| Trade receivables | 40 | €43,865 | €58,637 | +€14,772 | +33.7% |
| Other amounts receivable | 41 | €5,856 | - | -€5,856 | |
| Current investments | 50/53 | €319,966 | €500,520 | +€180,554 | +56.4% |
| Cash at bank and in hand | 54/58 | €48,756 | €17,350 | -€31,406 | -64.4% |
| Deferred charges and accrued income | 490/1 | €89,897 | €89,867 | -€30 | 0.0% |
| Total equity and liabilities | 10/49 | €565,854 | €733,643 | +€167,789 | +29.7% |
| Equity | 10/15 | €345,423 | €483,201 | +€137,778 | +39.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €300,060 | €437,060 | +€137,000 | +45.7% |
| Distributable reserves | 133 | €300,060 | €437,060 | +€137,000 | +45.7% |
| Profit (loss) carried forward | 14 | €39,163 | €39,941 | +€778 | +2.0% |
| Amounts payable | 17/49 | €220,431 | €250,442 | +€30,011 | +13.6% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 175 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,392 | €210,442 | +€30,050 | +16.7% |
| Trade debts | 44 | €131,100 | €5,823 | -€125,277 | -95.6% |
| Suppliers | 440/4 | €131,100 | €5,823 | -€125,277 | -95.6% |
| Advances received on contracts in progress | 46 | - | €125,222 | +€125,222 | |
| Taxes, remuneration and social security | 45 | €22,237 | €31,634 | +€9,397 | +42.3% |
| Taxes | 450/3 | €20,597 | €29,949 | +€9,352 | +45.4% |
| Remuneration and social security | 454/9 | €1,640 | €1,685 | +€45 | +2.7% |
| Other amounts payable | 47/48 | €27,055 | €47,763 | +€20,708 | +76.5% |
| Accrued charges and deferred income | 492/3 | €39 | - | -€39 | |
| Non-recurring operating income | 76A | €2,457 | €8,132 | +€5,675 | +231% |
| Remuneration, social security and pensions | 62 | €11,289 | €11,525 | +€236 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,466 | €18,616 | +€4,150 | +28.7% |
| Other operating charges | 640/8 | €4,029 | €1,847 | -€2,182 | -54.2% |
| Non-recurring operating charges | 66A | €59 | - | -€59 | |
| Gross operating margin | 9900 | €122,505 | €232,695 | +€110,190 | +89.9% |
| Operating profit (loss) | 9901 | €92,662 | €200,707 | +€108,045 | +117% |
| Financial income | 75/76B | €1,931 | €793 | -€1,138 | -58.9% |
| Recurring financial income | 75 | €1,931 | €793 | -€1,138 | -58.9% |
| Financial charges | 65/66B | €6,265 | €4,348 | -€1,917 | -30.6% |
| Recurring financial charges | 65 | €6,265 | €4,348 | -€1,917 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €88,328 | €197,152 | +€108,824 | +123% |
| Income taxes | 67/77 | €24,723 | €59,374 | +€34,651 | +140% |
| Profit (loss) for the period | 9904 | €63,605 | €137,778 | +€74,173 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €63,605 | €137,778 | +€74,173 | +117% |
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 17 October 2026 via checked.be.