COSTERMANS PROJECTEN: 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.
COSTERMANS PROJECTEN
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+156%), from €1.1m to €2.8m
of which Trade receivables: +€1.7m
- Stocks and contracts -€1.1m
down €1.1m (-24.0%), from €4.5m to €3.4m
of which Contracts in progress: -€1.1m
- Cash +€729,056
up €729,056 (+3,682%), from €19,798 to €748,855
mainly Contributions, distributions and other (+€3.0m) and Stocks and contracts (+€1.1m)
- Tangible fixed assets -€160,296
down €160,296 (-4.5%), from €3.6m to €3.4m
of which Land and buildings: -€158,724
- Contributions +€3.0m
up €3.0m (+65.4%), from €4.6m to €7.7m
- Other debts -€2.1m
down €2.1m (-61.1%), from €3.5m to €1.4m
- Debts after one year -€1.0m
down €1.0m (-20.0%), from €5.0m to €4.0m
- Profit (loss) carried forward +€885,927
up €885,927 (+18.8%), from -€4.7m to -€3.8m
- Tax, wage and social debts +€470,201
up €470,201 (+619%), from €75,993 to €546,194
of which Taxes: +€454,622
- Gross operating margin +€2.8m
up €2.8m, from -€846,082 to €2.0m
- Staff costs +€114,937
up €114,937 (+35.0%), from €328,105 to €443,041
- Financial income -€20,978
down €20,978 (-41.4%), from €50,639 to €29,660
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,393,365 | €10,569,288 | +€1.2m | +12.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,616,314 | €3,456,718 | -€159,596 | -4.4% |
| Tangible fixed assets | 22/27 | €3,577,566 | €3,417,270 | -€160,296 | -4.5% |
| Land and buildings | 22 | €3,399,080 | €3,240,356 | -€158,724 | -4.7% |
| Plant, machinery and equipment | 23 | €41,872 | €39,970 | -€1,902 | -4.5% |
| Furniture and vehicles | 24 | €136,614 | €136,945 | +€330 | +0.2% |
| Financial fixed assets | 28 | €38,748 | €39,448 | +€700 | +1.8% |
| Current assets | 29/58 | €5,777,051 | €7,112,570 | +€1.3m | +23.1% |
| Amounts receivable after more than one year | 29 | €46,380 | €19,054 | -€27,326 | -58.9% |
| Trade receivables | 290 | €46,380 | €19,054 | -€27,326 | -58.9% |
| Stocks and contracts in progress | 3 | €4,507,910 | €3,425,285 | -€1.1m | -24.0% |
| Stocks | 30/36 | €226,469 | €226,469 | = | 0.0% |
| Contracts in progress | 37 | €4,281,441 | €3,198,815 | -€1.1m | -25.3% |
| Amounts receivable within one year | 40/41 | €1,103,986 | €2,830,468 | +€1.7m | +156% |
| Trade receivables | 40 | €880,918 | €2,577,167 | +€1.7m | +193% |
| Other amounts receivable | 41 | €223,068 | €253,302 | +€30,234 | +13.6% |
| Cash at bank and in hand | 54/58 | €19,798 | €748,855 | +€729,056 | +3,682% |
| Deferred charges and accrued income | 490/1 | €98,975 | €88,908 | -€10,067 | -10.2% |
| Total equity and liabilities | 10/49 | €9,393,365 | €10,569,288 | +€1.2m | +12.5% |
| Equity | 10/15 | €445,519 | €4,365,566 | +€3.9m | +880% |
| Contributions | 10/11 | €4,640,880 | €7,675,000 | +€3.0m | +65.4% |
| Capital | 10 | €4,640,880 | €7,675,000 | +€3.0m | +65.4% |
| Issued capital | 100 | €4,640,880 | €7,675,000 | +€3.0m | +65.4% |
| Revaluation surpluses | 12 | €505,000 | €484,800 | -€20,200 | -4.0% |
| Reserves | 13 | €6,200 | €26,400 | +€20,200 | +326% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €20,200 | +€20,200 | |
| Profit (loss) carried forward | 14 | -€4,706,561 | -€3,820,634 | +€885,927 | +18.8% |
| Amounts payable | 17/49 | €8,947,845 | €6,203,722 | -€2.7m | -30.7% |
| Amounts payable after more than one year | 17 | €5,000,000 | €4,000,000 | -€1.0m | -20.0% |
| Other amounts payable | 178/9 | €5,000,000 | €4,000,000 | -€1.0m | -20.0% |
| Amounts payable within one year | 42/48 | €3,943,561 | €2,201,467 | -€1.7m | -44.2% |
| Current portion of amounts payable after more than one year | 42 | €30,720 | - | -€30,720 | |
| Trade debts | 44 | €347,847 | €299,464 | -€48,383 | -13.9% |
| Suppliers | 440/4 | €347,847 | €299,464 | -€48,383 | -13.9% |
| Taxes, remuneration and social security | 45 | €75,993 | €546,194 | +€470,201 | +619% |
| Taxes | 450/3 | €18,256 | €472,878 | +€454,622 | +2,490% |
| Remuneration and social security | 454/9 | €57,737 | €73,316 | +€15,579 | +27.0% |
| Other amounts payable | 47/48 | €3,489,000 | €1,355,809 | -€2.1m | -61.1% |
| Accrued charges and deferred income | 492/3 | €4,284 | €2,256 | -€2,029 | -47.4% |
| Remuneration, social security and pensions | 62 | €328,105 | €443,041 | +€114,937 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,810 | €255,500 | +€16,690 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,922 | +€4,922 | |
| Other operating charges | 640/8 | €15,005 | €14,877 | -€128 | -0.9% |
| Gross operating margin | 9900 | -€846,082 | €1,951,474 | +€2.8m | |
| Operating profit (loss) | 9901 | -€1,428,002 | €1,233,133 | +€2.7m | |
| Financial income | 75/76B | €50,639 | €29,660 | -€20,978 | -41.4% |
| Recurring financial income | 75 | €50,639 | €29,660 | -€20,978 | -41.4% |
| Financial charges | 65/66B | €370,948 | €376,421 | +€5,473 | +1.5% |
| Recurring financial charges | 65 | €370,948 | €376,421 | +€5,473 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,748,312 | €886,371 | +€2.6m | |
| Income taxes | 67/77 | €512 | €445 | -€67 | -13.1% |
| Profit (loss) for the period | 9904 | -€1,748,824 | €885,927 | +€2.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,748,824 | €885,927 | +€2.6m |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.