COSURE: 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.
COSURE
Largest movements
- Cash -€206,835
down €206,835 (-43.2%), from €478,396 to €271,561
mainly Contributions, distributions and other (-€357,488) and Current investments (-€200,000)
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets -€38,884
down €38,884 (-17.7%), from €219,847 to €180,964
of which Land and buildings: -€35,175
- Trade debts -€127,333
down €127,333 (-59.7%), from €213,460 to €86,126
- Other debts +€111,814
up €111,814 (+44.1%), from €253,658 to €365,472
- Debts after one year -€41,606
no longer reported in 2025 (was €41,606)
- Tax, wage and social debts +€20,896
up €20,896 (+72.7%), from €28,741 to €49,637
of which Taxes: +€20,416
- Current portion of long-term debt -€11,960
down €11,960 (-22.3%), from €53,566 to €41,606
- Gross operating margin +€119,131
up €119,131 (+26.4%), from €452,062 to €571,193
- Taxes +€15,281
up €15,281 (+31.9%), from €47,938 to €63,219
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 | €808,756 | €761,218 | -€47,537 | -5.9% |
| Fixed assets | 21/28 | €219,894 | €181,010 | -€38,884 | -17.7% |
| Tangible fixed assets | 22/27 | €219,847 | €180,964 | -€38,884 | -17.7% |
| Land and buildings | 22 | €211,050 | €175,875 | -€35,175 | -16.7% |
| Furniture and vehicles | 24 | €8,797 | €5,089 | -€3,709 | -42.2% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €588,862 | €580,208 | -€8,653 | -1.5% |
| Amounts receivable within one year | 40/41 | €110,429 | €108,648 | -€1,781 | -1.6% |
| Other amounts receivable | 41 | €110,429 | €108,648 | -€1,781 | -1.6% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €478,396 | €271,561 | -€206,835 | -43.2% |
| Deferred charges and accrued income | 490/1 | €37 | - | -€37 | |
| Total equity and liabilities | 10/49 | €808,756 | €761,218 | -€47,537 | -5.9% |
| Equity | 10/15 | €217,136 | €217,288 | +€151 | +0.1% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Capital | 10 | €62,100 | €62,100 | = | 0.0% |
| Issued capital | 100 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €32,200 | €32,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Distributable reserves | 133 | €25,990 | €25,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,836 | €122,987 | +€151 | +0.1% |
| Amounts payable | 17/49 | €591,619 | €543,931 | -€47,688 | -8.1% |
| Amounts payable after more than one year | 17 | €41,606 | - | -€41,606 | |
| Financial debts | 170/4 | €41,606 | - | -€41,606 | |
| Amounts payable within one year | 42/48 | €549,425 | €542,841 | -€6,584 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €53,566 | €41,606 | -€11,960 | -22.3% |
| Trade debts | 44 | €213,460 | €86,126 | -€127,333 | -59.7% |
| Suppliers | 440/4 | €213,460 | €86,126 | -€127,333 | -59.7% |
| Taxes, remuneration and social security | 45 | €28,741 | €49,637 | +€20,896 | +72.7% |
| Taxes | 450/3 | €9,499 | €29,915 | +€20,416 | +214.9% |
| Remuneration and social security | 454/9 | €19,242 | €19,722 | +€480 | +2.5% |
| Other amounts payable | 47/48 | €253,658 | €365,472 | +€111,814 | +44.1% |
| Accrued charges and deferred income | 492/3 | €588 | €1,089 | +€502 | +85.4% |
| Remuneration, social security and pensions | 62 | €109,201 | €105,805 | -€3,396 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,478 | €38,884 | -€594 | -1.5% |
| Other operating charges | 640/8 | €3,990 | €2,696 | -€1,294 | -32.4% |
| Gross operating margin | 9900 | €452,062 | €571,193 | +€119,131 | +26.4% |
| Operating profit (loss) | 9901 | €299,393 | €423,808 | +€124,415 | +41.6% |
| Financial charges | 65/66B | €5,374 | €2,951 | -€2,423 | -45.1% |
| Recurring financial charges | 65 | €5,374 | €2,951 | -€2,423 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €294,019 | €420,858 | +€126,839 | +43.1% |
| Income taxes | 67/77 | €47,938 | €63,219 | +€15,281 | +31.9% |
| Profit (loss) for the period | 9904 | €246,081 | €357,639 | +€111,558 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €246,081 | €357,639 | +€111,558 | +45.3% |
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 10 October 2026 via checked.be.