ANDRE CORNET - ELECT: 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.
ANDRE CORNET - ELECT
Largest movements
- Stocks and contracts -€89,715
down €89,715 (-32.8%), from €273,603 to €183,888
- Cash +€21,057
up €21,057 (+14.6%), from €143,753 to €164,811
mainly Stocks and contracts (+€89,715) and Net result for the year (+€56,383)
- Receivables within one year +€14,841
up €14,841 (+13.3%), from €111,199 to €126,040
of which Trade receivables: +€14,363
- Trade debts -€29,218
down €29,218 (-16.8%), from €174,301 to €145,083
- Debts after one year -€28,059
down €28,059 (-40.4%), from €69,373 to €41,314
- Profit (loss) carried forward +€6,383
up €6,383 (+6.6%), from €96,498 to €102,881
- Gross operating margin -€19,995
down €19,995 (-13.7%), from €145,700 to €125,705
- Staff costs -€7,787
down €7,787 (-68.5%), from €11,368 to €3,581
- Taxes -€2,393
down €2,393 (-9.5%), from €25,315 to €22,923
- Write-downs +€2,058
up €2,058 (+15.5%), from €13,241 to €15,299
- Depreciation -€1,567
down €1,567 (-11.1%), from €14,136 to €12,569
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 | €556,985 | €502,685 | -€54,300 | -9.7% |
| Fixed assets | 21/28 | €28,430 | €27,947 | -€484 | -1.7% |
| Tangible fixed assets | 22/27 | €28,255 | €27,772 | -€484 | -1.7% |
| Plant, machinery and equipment | 23 | €223 | €44 | -€179 | -80.2% |
| Furniture and vehicles | 24 | €11,491 | €18,241 | +€6,750 | +58.7% |
| Other tangible fixed assets | 26 | €16,541 | €9,486 | -€7,055 | -42.7% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €528,555 | €474,739 | -€53,817 | -10.2% |
| Stocks and contracts in progress | 3 | €273,603 | €183,888 | -€89,715 | -32.8% |
| Stocks | 30/36 | €273,603 | €183,888 | -€89,715 | -32.8% |
| Amounts receivable within one year | 40/41 | €111,199 | €126,040 | +€14,841 | +13.3% |
| Trade receivables | 40 | €102,435 | €116,798 | +€14,363 | +14.0% |
| Other amounts receivable | 41 | €8,764 | €9,242 | +€478 | +5.5% |
| Cash at bank and in hand | 54/58 | €143,753 | €164,811 | +€21,057 | +14.6% |
| Total equity and liabilities | 10/49 | €556,985 | €502,685 | -€54,300 | -9.7% |
| Equity | 10/15 | €191,937 | €198,299 | +€6,362 | +3.3% |
| Contributions | 10/11 | €86,763 | €86,742 | -€21 | 0.0% |
| Capital | 10 | €86,763 | €86,742 | -€21 | 0.0% |
| Issued capital | 100 | €86,763 | €86,742 | -€21 | 0.0% |
| Reserves | 13 | €8,676 | €8,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,498 | €102,881 | +€6,383 | +6.6% |
| Amounts payable | 17/49 | €365,048 | €304,386 | -€60,662 | -16.6% |
| Amounts payable after more than one year | 17 | €69,373 | €41,314 | -€28,059 | -40.4% |
| Financial debts | 170/4 | €69,373 | €41,314 | -€28,059 | -40.4% |
| Amounts payable within one year | 42/48 | €295,675 | €263,072 | -€32,604 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €40,192 | €39,348 | -€845 | -2.1% |
| Trade debts | 44 | €174,301 | €145,083 | -€29,218 | -16.8% |
| Suppliers | 440/4 | €174,301 | €145,083 | -€29,218 | -16.8% |
| Taxes, remuneration and social security | 45 | €31,182 | €28,641 | -€2,541 | -8.1% |
| Taxes | 450/3 | €30,274 | €28,641 | -€1,633 | -5.4% |
| Remuneration and social security | 454/9 | €908 | - | -€908 | |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €11,368 | €3,581 | -€7,787 | -68.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,136 | €12,569 | -€1,567 | -11.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,241 | €15,299 | +€2,058 | +15.5% |
| Other operating charges | 640/8 | €3,609 | €4,534 | +€925 | +25.6% |
| Gross operating margin | 9900 | €145,700 | €125,705 | -€19,995 | -13.7% |
| Operating profit (loss) | 9901 | €103,347 | €89,722 | -€13,625 | -13.2% |
| Financial income | 75/76B | €185 | - | -€185 | |
| Recurring financial income | 75 | €185 | - | -€185 | |
| Financial charges | 65/66B | €10,884 | €10,416 | -€469 | -4.3% |
| Recurring financial charges | 65 | €10,884 | €10,416 | -€469 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €92,647 | €79,306 | -€13,341 | -14.4% |
| Income taxes | 67/77 | €25,315 | €22,923 | -€2,393 | -9.5% |
| Profit (loss) for the period | 9904 | €67,332 | €56,383 | -€10,949 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,332 | €56,383 | -€10,949 | -16.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.