Dr. Cosyn: 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.
Dr. Cosyn
Largest movements
- Cash +€934,900
up €934,900 (+437%), from €213,720 to €1.1m
mainly Current investments (+€623,992) and Net result for the year (+€296,377)
- Current investments -€623,992
down €623,992 (-45.7%), from €1.4m to €742,209
- Receivables within one year +€59,581
up €59,581 (+132%), from €45,144 to €104,725
of which Other amounts receivable: +€59,931
- Tangible fixed assets -€34,786
down €34,786 (-24.8%), from €140,259 to €105,473
- Reserves +€296,377
up €296,377 (+17.7%), from €1.7m to €2.0m
- Tax, wage and social debts +€32,044
up €32,044 (+79.4%), from €40,344 to €72,388
of which Taxes: +€28,884
- Gross operating margin -€77,920
down €77,920 (-13.4%), from €580,312 to €502,391
- Taxes -€46,243
down €46,243 (-28.9%), from €160,126 to €113,883
- Financial income -€29,698
down €29,698 (-25.1%), from €118,488 to €88,790
of which Financial income: -€64,275
- Financial charges -€25,783
down €25,783 (-71.6%), from €36,004 to €10,220
of which Non-recurring financial charges: -€26,008
- Staff costs +€16,316
up €16,316 (+14.7%), from €110,797 to €127,113
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,782,017 | €2,108,519 | +€326,502 | +18.3% |
| Fixed assets | 21/28 | €140,373 | €105,587 | -€34,786 | -24.8% |
| Tangible fixed assets | 22/27 | €140,259 | €105,473 | -€34,786 | -24.8% |
| Land and buildings | 22 | €23,482 | €19,485 | -€3,996 | -17.0% |
| Plant, machinery and equipment | 23 | €67,165 | €51,256 | -€15,909 | -23.7% |
| Furniture and vehicles | 24 | €44,813 | €29,932 | -€14,881 | -33.2% |
| Other tangible fixed assets | 26 | €4,800 | €4,800 | = | 0.0% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €1,641,644 | €2,002,932 | +€361,288 | +22.0% |
| Amounts receivable within one year | 40/41 | €45,144 | €104,725 | +€59,581 | +132% |
| Trade receivables | 40 | €350 | €0 | -€350 | -100% |
| Other amounts receivable | 41 | €44,794 | €104,725 | +€59,931 | +134% |
| Current investments | 50/53 | €1,366,201 | €742,209 | -€623,992 | -45.7% |
| Cash at bank and in hand | 54/58 | €213,720 | €1,148,620 | +€934,900 | +437% |
| Deferred charges and accrued income | 490/1 | €16,579 | €7,379 | -€9,201 | -55.5% |
| Total equity and liabilities | 10/49 | €1,782,017 | €2,108,519 | +€326,502 | +18.3% |
| Equity | 10/15 | €1,691,082 | €1,987,460 | +€296,377 | +17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,672,482 | €1,968,860 | +€296,377 | +17.7% |
| Distributable reserves | 133 | €1,672,482 | €1,968,860 | +€296,377 | +17.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €90,935 | €121,060 | +€30,125 | +33.1% |
| Amounts payable within one year | 42/48 | €90,935 | €121,060 | +€30,125 | +33.1% |
| Trade debts | 44 | €32,019 | €24,085 | -€7,934 | -24.8% |
| Suppliers | 440/4 | €32,019 | €24,085 | -€7,934 | -24.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €40,344 | €72,388 | +€32,044 | +79.4% |
| Taxes | 450/3 | €35,342 | €64,226 | +€28,884 | +81.7% |
| Remuneration and social security | 454/9 | €5,001 | €8,162 | +€3,161 | +63.2% |
| Other amounts payable | 47/48 | €18,572 | €24,586 | +€6,015 | +32.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €110,797 | €127,113 | +€16,316 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,352 | €41,824 | -€527 | -1.2% |
| Other operating charges | 640/8 | €1,258 | €1,662 | +€404 | +32.1% |
| Non-recurring operating charges | 66A | €2,380 | €100 | -€2,280 | -95.8% |
| Gross operating margin | 9900 | €580,312 | €502,391 | -€77,920 | -13.4% |
| Operating profit (loss) | 9901 | €423,525 | €331,692 | -€91,834 | -21.7% |
| Financial income | 75/76B | €118,488 | €88,790 | -€29,698 | -25.1% |
| Recurring financial income | 75 | €118,488 | €54,213 | -€64,275 | -54.2% |
| Non-recurring financial income | 76B | - | €34,577 | +€34,577 | |
| Financial charges | 65/66B | €36,004 | €10,220 | -€25,783 | -71.6% |
| Recurring financial charges | 65 | €1,427 | €1,651 | +€225 | +15.8% |
| Non-recurring financial charges | 66B | €34,577 | €8,569 | -€26,008 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €506,010 | €410,261 | -€95,749 | -18.9% |
| Income taxes | 67/77 | €160,126 | €113,883 | -€46,243 | -28.9% |
| Profit (loss) for the period | 9904 | €345,883 | €296,377 | -€49,506 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €345,883 | €296,377 | -€49,506 | -14.3% |
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 15 October 2026 via checked.be.