Kosa: 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.
Kosa
Largest movements
- Receivables within one year +€22,520
up €22,520 (+20.2%), from €111,390 to €133,910
of which Trade receivables: +€40,929
- Tangible fixed assets -€16,803
down €16,803 (-22.3%), from €75,394 to €58,591
- Intangible fixed assets -€16,000
down €16,000 (-12.0%), from €132,789 to €116,789
- Cash -€9,547
down €9,547 (-34.2%), from €27,874 to €18,327
mainly Trade debts (-€44,734) and Current portion of long-term debt (-€29,865)
- Trade debts -€44,734
down €44,734 (-24.8%), from €180,555 to €135,821
- Tax, wage and social debts +€30,656
up €30,656 (+104.9%), from €29,230 to €59,886
of which Taxes: +€27,621
- Current portion of long-term debt -€29,865
down €29,865 (-69.7%), from €42,870 to €13,005
- Debts after one year +€27,833
up €27,833 (+107.2%), from €25,972 to €53,805
- Other debts -€7,799
down €7,799 (-12.2%), from €64,158 to €56,359
- Staff costs +€67,226
up €67,226 (+26.5%), from €253,269 to €320,495
- Gross operating margin +€66,154
up €66,154 (+21.0%), from €315,031 to €381,184
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 | €394,017 | €375,651 | -€18,366 | -4.7% |
| Fixed assets | 21/28 | €212,270 | €179,467 | -€32,803 | -15.5% |
| Intangible fixed assets | 21 | €132,789 | €116,789 | -€16,000 | -12.0% |
| Tangible fixed assets | 22/27 | €75,394 | €58,591 | -€16,803 | -22.3% |
| Plant, machinery and equipment | 23 | €52,893 | €45,562 | -€7,331 | -13.9% |
| Furniture and vehicles | 24 | €10,233 | €5,922 | -€4,311 | -42.1% |
| Leasing and similar rights | 25 | €6,735 | €3,951 | -€2,784 | -41.3% |
| Other tangible fixed assets | 26 | €5,533 | €3,155 | -€2,377 | -43.0% |
| Financial fixed assets | 28 | €4,088 | €4,088 | = | 0.0% |
| Current assets | 29/58 | €181,747 | €196,183 | +€14,437 | +7.9% |
| Stocks and contracts in progress | 3 | €33,815 | €32,751 | -€1,065 | -3.1% |
| Stocks | 30/36 | €33,815 | €32,751 | -€1,065 | -3.1% |
| Amounts receivable within one year | 40/41 | €111,390 | €133,910 | +€22,520 | +20.2% |
| Trade receivables | 40 | €0 | €40,929 | +€40,929 | |
| Other amounts receivable | 41 | €111,390 | €92,981 | -€18,409 | -16.5% |
| Cash at bank and in hand | 54/58 | €27,874 | €18,327 | -€9,547 | -34.2% |
| Deferred charges and accrued income | 490/1 | €8,668 | €11,195 | +€2,528 | +29.2% |
| Total equity and liabilities | 10/49 | €394,017 | €375,651 | -€18,366 | -4.7% |
| Equity | 10/15 | €50,550 | €52,299 | +€1,749 | +3.5% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €28,550 | €30,299 | +€1,749 | +6.1% |
| Distributable reserves | 133 | €28,550 | €30,299 | +€1,749 | +6.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €343,467 | €323,352 | -€20,115 | -5.9% |
| Amounts payable after more than one year | 17 | €25,972 | €53,805 | +€27,833 | +107.2% |
| Financial debts | 170/4 | €25,972 | €53,805 | +€27,833 | +107.2% |
| Amounts payable within one year | 42/48 | €316,813 | €265,071 | -€51,742 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €42,870 | €13,005 | -€29,865 | -69.7% |
| Trade debts | 44 | €180,555 | €135,821 | -€44,734 | -24.8% |
| Suppliers | 440/4 | €180,555 | €135,821 | -€44,734 | -24.8% |
| Taxes, remuneration and social security | 45 | €29,230 | €59,886 | +€30,656 | +104.9% |
| Taxes | 450/3 | €12,977 | €40,598 | +€27,621 | +212.8% |
| Remuneration and social security | 454/9 | €16,254 | €19,289 | +€3,035 | +18.7% |
| Other amounts payable | 47/48 | €64,158 | €56,359 | -€7,799 | -12.2% |
| Accrued charges and deferred income | 492/3 | €682 | €4,476 | +€3,794 | +556.5% |
| Remuneration, social security and pensions | 62 | €253,269 | €320,495 | +€67,226 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,642 | €39,124 | +€1,482 | +3.9% |
| Other operating charges | 640/8 | €6,351 | €7,385 | +€1,033 | +16.3% |
| Non-recurring operating charges | 66A | €937 | €0 | -€937 | -100.0% |
| Gross operating margin | 9900 | €315,031 | €381,184 | +€66,154 | +21.0% |
| Operating profit (loss) | 9901 | €16,832 | €14,181 | -€2,651 | -15.7% |
| Financial income | 75/76B | €142 | €2,116 | +€1,974 | +1393.1% |
| Recurring financial income | 75 | €142 | €2,116 | +€1,974 | +1393.1% |
| Financial charges | 65/66B | €6,655 | €9,454 | +€2,798 | +42.0% |
| Recurring financial charges | 65 | €6,655 | €9,454 | +€2,798 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | €10,318 | €6,843 | -€3,475 | -33.7% |
| Income taxes | 67/77 | €249 | €3,434 | +€3,185 | +1277.7% |
| Profit (loss) for the period | 9904 | €10,069 | €3,409 | -€6,660 | -66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,069 | €3,409 | -€6,660 | -66.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.