COSPAIA: 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.
COSPAIA
Largest movements
- Receivables within one year +€117,796
up €117,796 (+86.8%), from €135,736 to €253,531
of which Other amounts receivable: +€124,753
- Tangible fixed assets -€33,367
down €33,367 (-18.1%), from €184,498 to €151,130
of which Furniture and vehicles: -€24,014
- Cash -€32,807
down €32,807 (-57.8%), from €56,800 to €23,992
mainly Net result for the year (-€160,383) and Receivables within one year (-€117,796)
- Stocks and contracts +€15,000
up €15,000 (+43.2%), from €34,715 to €49,715
- Other debts +€197,109
up €197,109 (+2740.8%), from €7,192 to €204,301
- Profit (loss) carried forward -€160,383
down €160,383 (-25.5%), from -€628,933 to -€789,316
- Tax, wage and social debts +€127,550
up €127,550 (+91.7%), from €139,058 to €266,609
of which Remuneration and social security: +€98,404
- Short-term financial debts -€105,040
no longer reported in 2025 (was €105,040)
- Debts after one year -€85,370
down €85,370 (-29.1%), from €293,583 to €208,213
of which Other amounts payable: -€133,531
- Gross operating margin -€166,880
down €166,880 (-42.5%), from €392,870 to €225,990
- Staff costs +€29,346
up €29,346 (+10.9%), from €269,215 to €298,561
- Financial charges +€14,200
up €14,200 (+75.2%), from €18,878 to €33,078
- Depreciation -€6,246
down €6,246 (-10.2%), from €60,979 to €54,733
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 | €416,377 | €480,625 | +€64,248 | +15.4% |
| Fixed assets | 21/28 | €184,498 | €153,386 | -€31,111 | -16.9% |
| Intangible fixed assets | 21 | - | €2,256 | +€2,256 | |
| Tangible fixed assets | 22/27 | €184,498 | €151,130 | -€33,367 | -18.1% |
| Plant, machinery and equipment | 23 | €14,767 | €7,548 | -€7,219 | -48.9% |
| Furniture and vehicles | 24 | €138,897 | €114,883 | -€24,014 | -17.3% |
| Other tangible fixed assets | 26 | €30,834 | €28,700 | -€2,134 | -6.9% |
| Current assets | 29/58 | €231,880 | €327,239 | +€95,359 | +41.1% |
| Stocks and contracts in progress | 3 | €34,715 | €49,715 | +€15,000 | +43.2% |
| Stocks | 30/36 | €34,715 | €49,715 | +€15,000 | +43.2% |
| Amounts receivable within one year | 40/41 | €135,736 | €253,531 | +€117,796 | +86.8% |
| Trade receivables | 40 | €14,834 | €7,877 | -€6,957 | -46.9% |
| Other amounts receivable | 41 | €120,901 | €245,654 | +€124,753 | +103.2% |
| Cash at bank and in hand | 54/58 | €56,800 | €23,992 | -€32,807 | -57.8% |
| Deferred charges and accrued income | 490/1 | €4,629 | - | -€4,629 | |
| Total equity and liabilities | 10/49 | €416,377 | €480,625 | +€64,248 | +15.4% |
| Equity | 10/15 | -€318,933 | -€479,316 | -€160,383 | -50.3% |
| Contributions | 10/11 | €310,000 | €310,000 | = | 0.0% |
| Capital | 10 | €310,000 | €310,000 | = | 0.0% |
| Issued capital | 100 | €310,000 | €310,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€628,933 | -€789,316 | -€160,383 | -25.5% |
| Amounts payable | 17/49 | €735,311 | €959,941 | +€224,630 | +30.5% |
| Amounts payable after more than one year | 17 | €293,583 | €208,213 | -€85,370 | -29.1% |
| Financial debts | 170/4 | €14,583 | €62,744 | +€48,161 | +330.2% |
| Other amounts payable | 178/9 | €279,000 | €145,469 | -€133,531 | -47.9% |
| Amounts payable within one year | 42/48 | €431,727 | €751,727 | +€320,000 | +74.1% |
| Current portion of amounts payable after more than one year | 42 | €7,950 | €31,916 | +€23,966 | +301.5% |
| Financial debts | 43 | €105,040 | - | -€105,040 | |
| Credit institutions | 430/8 | €105,040 | - | -€105,040 | |
| Trade debts | 44 | €172,487 | €248,902 | +€76,415 | +44.3% |
| Suppliers | 440/4 | €172,487 | €248,902 | +€76,415 | +44.3% |
| Taxes, remuneration and social security | 45 | €139,058 | €266,609 | +€127,550 | +91.7% |
| Taxes | 450/3 | €99,306 | €128,452 | +€29,146 | +29.4% |
| Remuneration and social security | 454/9 | €39,752 | €138,156 | +€98,404 | +247.5% |
| Other amounts payable | 47/48 | €7,192 | €204,301 | +€197,109 | +2740.8% |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Non-recurring operating income | 76A | €3,152 | €3,282 | +€130 | +4.1% |
| Remuneration, social security and pensions | 62 | €269,215 | €298,561 | +€29,346 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,979 | €54,733 | -€6,246 | -10.2% |
| Other operating charges | 640/8 | €164 | - | -€164 | |
| Gross operating margin | 9900 | €392,870 | €225,990 | -€166,880 | -42.5% |
| Operating profit (loss) | 9901 | €62,512 | -€127,305 | -€189,817 | |
| Financial income | 75/76B | €475 | - | -€475 | |
| Recurring financial income | 75 | €475 | - | -€475 | |
| Non-recurring financial income | 76B | €475 | - | -€475 | |
| Financial charges | 65/66B | €18,878 | €33,078 | +€14,200 | +75.2% |
| Recurring financial charges | 65 | €18,878 | €33,078 | +€14,200 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €44,109 | -€160,383 | -€204,492 | |
| Profit (loss) for the period | 9904 | €44,109 | -€160,383 | -€204,492 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,109 | -€160,383 | -€204,492 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.