COSY: 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.
What changed
COSY
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.4m
2024 · -€894,960-€553,354
Equity
€13.5m
2024 · €11.3m+€2.2m
Cash
€3.2m
2024 · €2.9m+€263,520
Balance sheet total
€26.6m
2024 · €13.9m+€12.6m
Largest movements
Assets
- Tangible fixed assets +€15.4m
up €15.4m (+206%), from €7.5m to €22.8m
of which Land and buildings: +€11.6m
- Receivables within one year -€3.3m
down €3.3m (-97.6%), from €3.4m to €83,102
of which Other amounts receivable: -€3.3m
Equity and liabilities
- Debts after one year +€8.5m
up €8.5m (+403%), from €2.1m to €10.6m
- Contributions +€3.7m
up €3.7m (+28.4%), from €13.0m to €16.6m
- Other debts +€2.0m
up €2.0m (+1,201,462%), from €165 to €2.0m
- Profit (loss) carried forward -€1.5m
down €1.5m (-89.1%), from -€1.7m to -€3.1m
Income statement
- Financial charges +€251,996
up €251,996 (+323%), from €78,029 to €330,025
- Depreciation +€164,737
up €164,737 (+54.3%), from €303,315 to €468,052
- Staff costs +€163,393
up €163,393 (+51.7%), from €316,296 to €479,689
- Gross operating margin +€64,786
up €64,786 (+25.6%), from -€253,354 to -€188,568
- Financial income -€44,994
down €44,994 (-65.4%), from €68,795 to €23,801
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.
Result 2024
-€894,960
Gross operating margin
+€64,786
Staff costs
-€163,393
Depreciation
-€164,737
Other operating charges
+€8,766
Other operating items
-€1,388
Financial income
-€44,994
Financial charges
-€251,996
Taxes
-€397
Result 2025
-€1.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.2m
Investment
-€16.1m
Financing
+€12.2m
Cash 2024
€2.9m
From operations (derived)
+€4.2m
Net result for the year
-€1.4m
Depreciation
+€468,052
Receivables within one year
+€3.3m
Deferred charges and accrued income
-€63,535
Trade debts
-€112,199
Smaller working-capital items
+€33,459
Other debts
+€2.0m
Investment (derived)
-€16.1m
Investment in fixed assets (net)
-€16.1m
Current investments
-€28,376
Financing
+€12.2m
Debts after one year
+€8.5m
Current portion of long-term debt
+€1,349
Contributions, distributions and other
+€3.7m
Cash 2025
€3.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,943,072 | €26,587,435 | +€12.6m | +90.7% |
| Fixed assets | 21/28 | €7,576,497 | €23,193,946 | +€15.6m | +206% |
| Intangible fixed assets | 21 | €111,415 | €360,031 | +€248,616 | +223% |
| Tangible fixed assets | 22/27 | €7,464,482 | €22,833,565 | +€15.4m | +206% |
| Land and buildings | 22 | €6,604,993 | €18,169,167 | +€11.6m | +175% |
| Plant, machinery and equipment | 23 | €73,987 | €285,288 | +€211,302 | +286% |
| Furniture and vehicles | 24 | €75,780 | €130,210 | +€54,429 | +71.8% |
| Other tangible fixed assets | 26 | €1,141 | €232,946 | +€231,805 | +20,318% |
| Assets under construction and advance payments | 27 | €708,582 | €4,015,954 | +€3.3m | +467% |
| Financial fixed assets | 28 | €599 | €350 | -€249 | -41.6% |
| Current assets | 29/58 | €6,366,576 | €3,393,490 | -€3.0m | -46.7% |
| Amounts receivable within one year | 40/41 | €3,411,619 | €83,102 | -€3.3m | -97.6% |
| Trade receivables | 40 | €99,798 | €78,199 | -€21,598 | -21.6% |
| Other amounts receivable | 41 | €3,311,821 | €4,902 | -€3.3m | -99.9% |
| Current investments | 50/53 | - | €28,376 | +€28,376 | |
| Cash at bank and in hand | 54/58 | €2,935,972 | €3,199,492 | +€263,520 | +9.0% |
| Deferred charges and accrued income | 490/1 | €18,985 | €82,520 | +€63,535 | +335% |
| Total equity and liabilities | 10/49 | €13,943,072 | €26,587,435 | +€12.6m | +90.7% |
| Equity | 10/15 | €11,301,576 | €13,539,648 | +€2.2m | +19.8% |
| Contributions | 10/11 | €12,959,444 | €16,645,831 | +€3.7m | +28.4% |
| Reserves | 13 | - | €28,376 | +€28,376 | |
| Non-distributable reserves | 130/1 | - | €28,376 | +€28,376 | |
| Own shares acquired | 1312 | - | €28,376 | +€28,376 | |
| Profit (loss) carried forward | 14 | -€1,657,868 | -€3,134,558 | -€1.5m | -89.1% |
| Amounts payable | 17/49 | €2,641,496 | €13,047,787 | +€10.4m | +394% |
| Amounts payable after more than one year | 17 | €2,107,961 | €10,609,230 | +€8.5m | +403% |
| Financial debts | 170/4 | €2,107,961 | €10,609,230 | +€8.5m | +403% |
| Amounts payable within one year | 42/48 | €478,517 | €2,359,871 | +€1.9m | +393% |
| Current portion of amounts payable after more than one year | 42 | €119,872 | €121,221 | +€1,349 | +1.1% |
| Trade debts | 44 | €290,291 | €178,091 | -€112,199 | -38.7% |
| Suppliers | 440/4 | €290,291 | €178,091 | -€112,199 | -38.7% |
| Taxes, remuneration and social security | 45 | €68,190 | €77,981 | +€9,791 | +14.4% |
| Taxes | 450/3 | €35,754 | €38,330 | +€2,577 | +7.2% |
| Remuneration and social security | 454/9 | €32,436 | €39,651 | +€7,214 | +22.2% |
| Other amounts payable | 47/48 | €165 | €1,982,578 | +€2.0m | +1,201,462% |
| Accrued charges and deferred income | 492/3 | €55,018 | €78,686 | +€23,668 | +43.0% |
| Non-recurring operating income | 76A | €26,086 | €0 | -€26,086 | -100% |
| Remuneration, social security and pensions | 62 | €316,296 | €479,689 | +€163,393 | +51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,315 | €468,052 | +€164,737 | +54.3% |
| Other operating charges | 640/8 | €12,211 | €3,445 | -€8,766 | -71.8% |
| Non-recurring operating charges | 66A | - | €1,388 | +€1,388 | |
| Gross operating margin | 9900 | -€253,354 | -€188,568 | +€64,786 | +25.6% |
| Operating profit (loss) | 9901 | -€885,175 | -€1,141,142 | -€255,967 | -28.9% |
| Financial income | 75/76B | €68,795 | €23,801 | -€44,994 | -65.4% |
| Recurring financial income | 75 | €68,795 | €23,801 | -€44,994 | -65.4% |
| Financial charges | 65/66B | €78,029 | €330,025 | +€251,996 | +323% |
| Recurring financial charges | 65 | €78,029 | €330,025 | +€251,996 | +323% |
| Profit (loss) for the period before taxes | 9903 | -€894,409 | -€1,447,366 | -€552,957 | -61.8% |
| Income taxes | 67/77 | €551 | €948 | +€397 | +72.2% |
| Profit (loss) for the period | 9904 | -€894,960 | -€1,448,314 | -€553,354 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€894,960 | -€1,448,314 | -€553,354 | -61.8% |
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 14 October 2026 via checked.be.