Cosmos Insurance Company Public LTD

Annual / Quarterly Financial Statement • Mar 28, 2025

STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER TOTAL INCOME

for the year ended 31 December 2024

	2024	2023
	€	€
Insurance expenses	21.209.543	19.510.531
Insurance services expenses	(15.652.262)	(14.688.436)
Insurance services result from insurance policies issued	5.557.281	4.822.095
Net expenses from re-insurance policies held	(2.074.326)	(2.650.344)
Insurance services result	3.482.955	2.171.751
Net income from investments	248.058	656.933
Financial insurance expenses from insurance policies issued	(314.820)	(403.175)
Financial insurance income from re-insurance policies held	57.958	73.857
Net insurance financial result	(256.862)	(329.318)
Net insurance and investment result	3.474.151	2.499.366
Other income	293.573	490.861
Other expenses	(798.586)	(841.138)
Profit before taxation	2.969.138	2.149.089
Taxation	(285.724)	(160.586)
Profit for the year	2.683.414	1.988.503
Other comprehensive income Income not to be reclassified to profit or loss in subsequent periods
Revaluation of immovable property for own use	89.160	89.160
Deferred taxation on revaluation	3.316	(1.078)
Other total income	92.476	88.082
Total income for the year attributable to Company owners	2.775.890	2.076.585
Basic and fully diluted earnings per share (cents)	0.0475	0.0352

COSMOS INSURANCE PUBLIC COMPANY LTD

STATEMENT OF FINANCIAL POSITION

as at 31 December 2024

	2024	2023
	€	€
ASSETS
Cash and cash equivalents	1.632.194	1.891.354
Financial assets at fair value through profit and loss	14.764.382	13.170.960
Current tax liabilities	8.609	52.424
Re-insurance policy assets	4.943.226	3.771.240
Other debtors and advance payments	1.483.948	1.222.773
Investment property	5.417.000	5.578.000
Deferred tax claims	220.785	156.188
Property and equipment	4.652.773	4.630.082
Intangible assets	14.855	18.356
Total assets	33.137.772	30.491.377
EQUITY
Capital and Reserves
Share capital	1.129.671	1.129.671
Share premium reserve	2.907.588	2.907.588
Other reserves	9.488.469	6.848.869
Total equity	13.525.728	10.886.128
Current liabilities
Bank overdraft	59.599	-
Current tax liabilities	162.925	88.241
Other creditors and accrued expenses	845.428	1.166.517
Insurance policy liabilities	18.332.009	18.135.092
Deferred tax liabilities	212.083	215.399
Total liabilities	19.612.044	19.605.249
Total equity and liabilities	33.137.772	30.491.377

COSMOS INSURANCE PUBLIC COMPANY LTD

STATEMENT OF CASH FLOWS

for the year ended 31 December 2024

	2024	2023
Operating activities	€	€
Profit for the year before taxation	2.969.138	2.149.089
Adjustments for:
Depreciation	198.663	181.354
Change in the fair value of shares and securities	(463.726)	(630.041)
Change in the fair value of investment property	203.831	(50.000)
Gain on sale of shares and securities	(8.506)	(4.363)
Loss on sale of investment property	-	13.903
Interest expenses	83.242	75.810
Interest income	(42.557)	(38.458)
Profit from operations before changes in working capital	2.940.085	1.697.294
Increase/(decrease) in insurance policy liabilities	196.917	(426.994)
(Increase)/decrease in re-insurance policy assets	(1.171.986)	83.116
(Increase)/decrease in other debtors and advance payments	(278.342)	1.075.364
Decrease in other creditors and accrued expenses	(316.326)	(217.252)
Cash flows from operations	1.370.348	2.211.528
Income tax paid	(351.829)	(219.261)
Net cash flow from operating activities	1.018.519	1.992.267
Investing activities
Purchase of property and equipment	(120.542)	(138.794)
Purchase of intangible assets	(8.151)	(27.161)
(Purchase)/proceeds from sale of investment property	(42.831)	313.097
Purchase of financial assets at fair value through profit and loss	(3.742.484)	(6.432.298)
Proceeds from sale and buyout of financial assets at fair value	2.621.294	4.256.629
Interest received	59.723	31.107
Net cash flow for investing activities	(1.232.991)	(1.997.420)
Financing activities
Interest paid	(81.862)	(74.208)
Repayments of liability capital from leases	(22.425)	(22.160)
Net cash flow for financing activities	(104.287)	(96.368)
Net decrease in cash and cash equivalents and bank overdrafts	(318.759)	(101.521)
Cash and cash equivalents and bank overdrafts at beginning of year	1.891.354	1.992.875
Cash and cash equivalents and bank overdrafts at end of year	1.572.595	1.891.354

STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2024

	Share capital	Share premium Revaluation		Capital decrease reserve	Annuity reserve	Total
		reserve	reserve
		€	€	€	€	€
	€
Balance 1 January 2023	1.129.671	2.907.588	3.447.331	4.017.655	(2.607.702)	8.894.543
Total income
Profit for the year	-	-	-	-	1.988.503	1.988.503
Other total income
Land and buildings
Gain on revaluation after taxation	-	-	88.082	-	-	88.082
Total income for the year	-	-	88.082	-	1.988.503	2.076.585
Transactions with shareholders
Deemed dividend distribution on
the profit of 2021	-	-	-	-	(85.000)	(85.000)
Balance as at 31 December 2023	1.129.671	2.907.588	3.535.413	4.017.655	(704.199)	10.886.128
Total income
Profit for the year	-	-	-	-	2.683.114	2.683.414
Other total income
Land and buildings
Gain on revaluation after taxation	-	-	92.476	-	-	92.476
Total income for the year	-	-	92.476	-	2.683.414	2.775.890
Transactions with shareholders
Deemed dividend distribution on
the profit of 2022	-	-	-	-	(136.290)	(136.290)
Total transactions with
shareholders	-	-	-	-	(136.290)	(136.290)
Balance as at 31 December 2024	1.129.671	2.907.588	3.627.889	4.017.655	1.842.925	13.525.728