PAULA COSMINA: 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.
PAULA COSMINA
Largest movements
- Receivables within one year +€1,672
up €1,672 (+2.8%), from €59,599 to €61,271
of which Trade receivables: +€7,105
- Tangible fixed assets -€871
down €871 (-47.1%), from €1,849 to €979
of which Furniture and vehicles: -€489
- Short-term financial debts +€10,314
new in 2025: €10,314
- Profit (loss) carried forward -€8,260
down €8,260 (-16.7%), from €49,336 to €41,076
- Current portion of long-term debt -€2,925
down €2,925 (-100%), from €2,925 to €0
- Tax, wage and social debts +€833
up €833 (+23.3%), from €3,567 to €4,400
- Trade debts +€736
up €736 (+9.5%), from €7,740 to €8,476
- Taxes +€9,913
new in 2025: €9,913
- Gross operating margin -€6,862
down €6,862 (-59.3%), from €11,578 to €4,716
- Other operating charges -€4,532
down €4,532 (-82.9%), from €5,468 to €936
- Financial charges +€1,148
up €1,148 (+1,074%), from €107 to €1,255
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 | €63,568 | €64,266 | +€698 | +1.1% |
| Fixed assets | 21/28 | €1,849 | €979 | -€871 | -47.1% |
| Tangible fixed assets | 22/27 | €1,849 | €979 | -€871 | -47.1% |
| Plant, machinery and equipment | 23 | €381 | €0 | -€381 | -100% |
| Furniture and vehicles | 24 | €1,468 | €979 | -€489 | -33.3% |
| Current assets | 29/58 | €61,718 | €63,287 | +€1,569 | +2.5% |
| Amounts receivable within one year | 40/41 | €59,599 | €61,271 | +€1,672 | +2.8% |
| Trade receivables | 40 | €3,606 | €10,712 | +€7,105 | +197% |
| Other amounts receivable | 41 | €55,993 | €50,560 | -€5,433 | -9.7% |
| Cash at bank and in hand | 54/58 | €2,119 | €2,016 | -€103 | -4.9% |
| Total equity and liabilities | 10/49 | €63,568 | €64,266 | +€698 | +1.1% |
| Equity | 10/15 | €49,336 | €41,076 | -€8,260 | -16.7% |
| Profit (loss) carried forward | 14 | €49,336 | €41,076 | -€8,260 | -16.7% |
| Amounts payable | 17/49 | €14,232 | €23,190 | +€8,958 | +62.9% |
| Amounts payable within one year | 42/48 | €14,232 | €23,190 | +€8,958 | +62.9% |
| Current portion of amounts payable after more than one year | 42 | €2,925 | €0 | -€2,925 | -100% |
| Financial debts | 43 | - | €10,314 | +€10,314 | |
| Credit institutions | 430/8 | - | €10,314 | +€10,314 | |
| Trade debts | 44 | €7,740 | €8,476 | +€736 | +9.5% |
| Suppliers | 440/4 | €7,740 | €8,476 | +€736 | +9.5% |
| Taxes, remuneration and social security | 45 | €3,567 | €4,400 | +€833 | +23.3% |
| Taxes | 450/3 | €3,567 | €4,400 | +€833 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €871 | €871 | = | 0.0% |
| Other operating charges | 640/8 | €5,468 | €936 | -€4,532 | -82.9% |
| Gross operating margin | 9900 | €11,578 | €4,716 | -€6,862 | -59.3% |
| Operating profit (loss) | 9901 | €5,239 | €2,909 | -€2,331 | -44.5% |
| Financial charges | 65/66B | €107 | €1,255 | +€1,148 | +1,074% |
| Recurring financial charges | 65 | €107 | €1,255 | +€1,148 | +1,074% |
| Profit (loss) for the period before taxes | 9903 | €5,132 | €1,654 | -€3,479 | -67.8% |
| Income taxes | 67/77 | - | €9,913 | +€9,913 | |
| Profit (loss) for the period | 9904 | €5,132 | -€8,260 | -€13,392 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,132 | -€8,260 | -€13,392 |
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 27 October 2026 via checked.be.