A Cordes & Vous: 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
A Cordes & Vous
NACE 82.300, Organisation of conventions and trade shows
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€5,206
2024 · -€23,838+€18,632
Equity
€121,254
2024 · €126,460-€5,206
Cash
€471
2024 · €861-€390
Balance sheet total
€222,474
2024 · €218,508+€3,966
Largest movements
Assets
- Tangible fixed assets +€2,621
up €2,621 (+1.2%), from €217,058 to €219,679
of which Land and buildings: +€3,361
Equity and liabilities
- Profit (loss) carried forward -€5,206
down €5,206 (-15.5%), from -€33,540 to -€38,746
- Debts after one year +€2,695
up €2,695 (+41.9%), from €6,430 to €9,125
of which Financial debts: +€2,695
- Current portion of long-term debt +€2,334
new in 2025: €2,334
Income statement
- Gross operating margin +€22,600
up €22,600, from -€14,339 to €8,261
- Financial charges +€2,680
up €2,680 (+3,392%), from €79 to €2,759
- Depreciation +€1,221
up €1,221 (+13.5%), from €9,033 to €10,254
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
-€23,838
Gross operating margin
+€22,600
Depreciation
-€1,221
Other operating charges
-€67
Financial charges
-€2,680
Result 2025
-€5,206
raises the resultlowers the result
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
+€7,456
Investment
-€12,875
Financing
+€5,029
Cash 2024
€861
From operations (derived)
+€7,456
Net result for the year
-€5,206
Depreciation
+€10,254
Stocks and contracts
-€696
Receivables within one year
-€1,039
Trade debts
+€672
Tax, wage and social debts
+€1,569
Other debts
+€1,902
Investment (derived)
-€12,875
Investment in fixed assets (net)
-€12,875
Financing
+€5,029
Debts after one year
+€2,695
Current portion of long-term debt
+€2,334
Cash 2025
€471
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,508 | €222,474 | +€3,966 | +1.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €217,058 | €219,679 | +€2,621 | +1.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €217,058 | €219,679 | +€2,621 | +1.2% |
| Land and buildings | 22 | €212,310 | €215,671 | +€3,361 | +1.6% |
| Plant, machinery and equipment | 23 | €2,686 | €2,056 | -€630 | -23.5% |
| Furniture and vehicles | 24 | €2,062 | €1,952 | -€110 | -5.3% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €1,450 | €2,795 | +€1,345 | +92.8% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | - | €696 | +€696 | |
| Stocks | 30/36 | - | €696 | +€696 | |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €589 | €1,628 | +€1,039 | +176% |
| Trade receivables | 40 | €301 | €1,378 | +€1,077 | +358% |
| Other amounts receivable | 41 | €288 | €250 | -€38 | -13.2% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €861 | €471 | -€390 | -45.3% |
| Total equity and liabilities | 10/49 | €218,508 | €222,474 | +€3,966 | +1.8% |
| Equity | 10/15 | €126,460 | €121,254 | -€5,206 | -4.1% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | - | €0 | = | |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Own shares acquired | 1312 | - | €0 | = | |
| Financial assistance | 1313 | - | €0 | = | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | - | €0 | = | |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | -€33,540 | -€38,746 | -€5,206 | -15.5% |
| Investment grants | 15 | - | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €92,048 | €101,220 | +€9,172 | +10.0% |
| Amounts payable after more than one year | 17 | €6,430 | €9,125 | +€2,695 | +41.9% |
| Financial debts | 170/4 | €6,430 | €9,125 | +€2,695 | +41.9% |
| Trade debts | 175 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €85,618 | €92,095 | +€6,477 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €2,334 | +€2,334 | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €14,209 | €14,881 | +€672 | +4.7% |
| Suppliers | 440/4 | €14,209 | €14,881 | +€672 | +4.7% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €250 | €1,819 | +€1,569 | +628% |
| Taxes | 450/3 | €250 | €1,819 | +€1,569 | +628% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €71,159 | €73,061 | +€1,902 | +2.7% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,033 | €10,254 | +€1,221 | +13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €387 | €454 | +€67 | +17.3% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | -€14,339 | €8,261 | +€22,600 | |
| Operating profit (loss) | 9901 | -€23,759 | -€2,447 | +€21,312 | +89.7% |
| Financial charges | 65/66B | €79 | €2,759 | +€2,680 | +3,392% |
| Recurring financial charges | 65 | €79 | €2,759 | +€2,680 | +3,392% |
| Profit (loss) for the period before taxes | 9903 | -€23,838 | -€5,206 | +€18,632 | +78.2% |
| Profit (loss) for the period | 9904 | -€23,838 | -€5,206 | +€18,632 | +78.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,838 | -€5,206 | +€18,632 | +78.2% |
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 17 October 2026 via checked.be.