COSPO: 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.
COSPO
Largest movements
- Tangible fixed assets +€384,985
up €384,985 (+54.0%), from €712,853 to €1.1m
of which Land and buildings: +€396,515
- Receivables within one year +€48,687
new in 2025: €48,687
- Cash -€33,150
down €33,150 (-48.5%), from €68,289 to €35,139
mainly Investment in fixed assets (net) (-€442,840) and Receivables within one year (-€48,687)
- Current investments -€20,191
down €20,191 (-76.9%), from €26,261 to €6,070
- Debts after one year +€296,655
up €296,655 (+64.1%), from €462,539 to €759,194
- Other debts +€103,075
up €103,075 (+186.5%), from €55,272 to €158,347
- Profit (loss) carried forward -€14,955
down €14,955 (-22.9%), from €65,441 to €50,486
- Gross operating margin -€27,792
down €27,792 (-26.4%), from €105,439 to €77,647
- Financial charges +€11,907
up €11,907 (+87.7%), from €13,570 to €25,477
- Depreciation +€6,250
up €6,250 (+12.1%), from €51,605 to €57,855
- Taxes -€3,084
down €3,084 (-81.8%), from €3,771 to €687
- Other operating charges +€2,878
up €2,878 (+32.2%), from €8,947 to €11,825
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 | €807,525 | €1,187,734 | +€380,209 | +47.1% |
| Fixed assets | 21/28 | €712,853 | €1,097,838 | +€384,985 | +54.0% |
| Tangible fixed assets | 22/27 | €712,853 | €1,097,838 | +€384,985 | +54.0% |
| Land and buildings | 22 | €628,176 | €1,024,691 | +€396,515 | +63.1% |
| Plant, machinery and equipment | 23 | €79,848 | €66,177 | -€13,671 | -17.1% |
| Furniture and vehicles | 24 | €4,829 | €6,970 | +€2,141 | +44.3% |
| Current assets | 29/58 | €94,672 | €89,896 | -€4,776 | -5.0% |
| Amounts receivable within one year | 40/41 | - | €48,687 | +€48,687 | |
| Trade receivables | 40 | - | €48,687 | +€48,687 | |
| Current investments | 50/53 | €26,261 | €6,070 | -€20,191 | -76.9% |
| Cash at bank and in hand | 54/58 | €68,289 | €35,139 | -€33,150 | -48.5% |
| Deferred charges and accrued income | 490/1 | €122 | - | -€122 | |
| Total equity and liabilities | 10/49 | €807,525 | €1,187,734 | +€380,209 | +47.1% |
| Equity | 10/15 | €205,656 | €188,330 | -€17,326 | -8.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €121,623 | €119,252 | -€2,371 | -1.9% |
| Tax-exempt reserves | 132 | €70,883 | €68,512 | -€2,371 | -3.3% |
| Distributable reserves | 133 | €50,740 | €50,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,441 | €50,486 | -€14,955 | -22.9% |
| Provisions and deferred taxes | 16 | €23,628 | €22,837 | -€791 | -3.3% |
| Deferred taxes | 168 | €23,628 | €22,837 | -€791 | -3.3% |
| Amounts payable | 17/49 | €578,241 | €976,567 | +€398,326 | +68.9% |
| Amounts payable after more than one year | 17 | €462,539 | €759,194 | +€296,655 | +64.1% |
| Financial debts | 170/4 | €462,539 | €759,194 | +€296,655 | +64.1% |
| Amounts payable within one year | 42/48 | €108,998 | €216,922 | +€107,924 | +99.0% |
| Current portion of amounts payable after more than one year | 42 | €49,027 | €50,339 | +€1,312 | +2.7% |
| Trade debts | 44 | €951 | €462 | -€489 | -51.4% |
| Suppliers | 440/4 | €951 | €462 | -€489 | -51.4% |
| Taxes, remuneration and social security | 45 | €3,748 | €7,774 | +€4,026 | +107.4% |
| Taxes | 450/3 | €3,748 | €7,774 | +€4,026 | +107.4% |
| Other amounts payable | 47/48 | €55,272 | €158,347 | +€103,075 | +186.5% |
| Accrued charges and deferred income | 492/3 | €6,704 | €451 | -€6,253 | -93.3% |
| Non-recurring operating income | 76A | - | €2,647 | +€2,647 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,605 | €57,855 | +€6,250 | +12.1% |
| Other operating charges | 640/8 | €8,947 | €11,825 | +€2,878 | +32.2% |
| Gross operating margin | 9900 | €105,439 | €77,647 | -€27,792 | -26.4% |
| Operating profit (loss) | 9901 | €44,887 | €7,967 | -€36,920 | -82.3% |
| Financial income | 75/76B | €78 | €81 | +€3 | +3.8% |
| Recurring financial income | 75 | €78 | €81 | +€3 | +3.8% |
| Financial charges | 65/66B | €13,570 | €25,477 | +€11,907 | +87.7% |
| Recurring financial charges | 65 | €13,570 | €25,477 | +€11,907 | +87.7% |
| Profit (loss) for the period before taxes | 9903 | €31,395 | -€17,429 | -€48,824 | |
| Transfer from deferred taxes | 780 | €790 | €790 | = | 0.0% |
| Income taxes | 67/77 | €3,771 | €687 | -€3,084 | -81.8% |
| Profit (loss) for the period | 9904 | €28,414 | -€17,326 | -€45,740 | |
| Transfer from tax-exempt reserves | 789 | €2,371 | €2,371 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,785 | -€14,955 | -€45,740 |
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 4 October 2026 via checked.be.