BIESEMANS-CORNILLE: 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.
BIESEMANS-CORNILLE
Largest movements
- Tangible fixed assets +€491,426
up €491,426 (+228.7%), from €214,837 to €706,262
of which Land and buildings: +€495,269
- Intangible fixed assets -€39,913
down €39,913 (-11.3%), from €354,134 to €314,221
- Stocks and contracts -€34,661
down €34,661 (-17.0%), from €203,816 to €169,155
- Cash -€32,276
down €32,276 (-19.3%), from €167,434 to €135,158
mainly Investment in fixed assets (net) (-€566,541) and Tax, wage and social debts (-€22,344)
- Debts after one year +€415,700
up €415,700 (+108.3%), from €383,742 to €799,442
- Current portion of long-term debt +€26,000
up €26,000 (+37.3%), from €69,658 to €95,658
- Tax, wage and social debts -€22,344
down €22,344 (-46.1%), from €48,520 to €26,176
of which Taxes: -€23,862
- Trade debts -€17,737
down €17,737 (-28.2%), from €62,952 to €45,215
- Depreciation +€68,348
up €68,348 (+136.5%), from €50,056 to €118,404
- Taxes -€43,602
down €43,602 (-99.6%), from €43,767 to €165
- Gross operating margin -€37,673
down €37,673 (-17.1%), from €219,731 to €182,058
- Financial charges -€4,067
down €4,067 (-21.7%), from €18,762 to €14,696
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 | €1,026,277 | €1,413,184 | +€386,907 | +37.7% |
| Fixed assets | 21/28 | €572,346 | €1,020,484 | +€448,137 | +78.3% |
| Intangible fixed assets | 21 | €354,134 | €314,221 | -€39,913 | -11.3% |
| Tangible fixed assets | 22/27 | €214,837 | €706,262 | +€491,426 | +228.7% |
| Land and buildings | 22 | €204,141 | €699,410 | +€495,269 | +242.6% |
| Plant, machinery and equipment | 23 | €515 | €73 | -€442 | -85.8% |
| Furniture and vehicles | 24 | €10,181 | €6,780 | -€3,401 | -33.4% |
| Financial fixed assets | 28 | €3,375 | €0 | -€3,375 | -100.0% |
| Current assets | 29/58 | €453,931 | €392,700 | -€61,231 | -13.5% |
| Stocks and contracts in progress | 3 | €203,816 | €169,155 | -€34,661 | -17.0% |
| Stocks | 30/36 | €203,816 | €169,155 | -€34,661 | -17.0% |
| Amounts receivable within one year | 40/41 | €80,680 | €86,539 | +€5,859 | +7.3% |
| Trade receivables | 40 | €80,369 | €76,500 | -€3,869 | -4.8% |
| Other amounts receivable | 41 | €311 | €10,040 | +€9,729 | +3126.7% |
| Cash at bank and in hand | 54/58 | €167,434 | €135,158 | -€32,276 | -19.3% |
| Deferred charges and accrued income | 490/1 | €2,001 | €1,847 | -€153 | -7.7% |
| Total equity and liabilities | 10/49 | €1,026,277 | €1,413,184 | +€386,907 | +37.7% |
| Equity | 10/15 | €234,633 | €218,722 | -€15,911 | -6.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €204,633 | €196,959 | -€7,674 | -3.8% |
| Distributable reserves | 133 | €204,633 | €196,959 | -€7,674 | -3.8% |
| Profit (loss) carried forward | 14 | €0 | -€8,237 | -€8,237 | |
| Amounts payable | 17/49 | €791,644 | €1,194,461 | +€402,817 | +50.9% |
| Amounts payable after more than one year | 17 | €383,742 | €799,442 | +€415,700 | +108.3% |
| Financial debts | 170/4 | €383,742 | €799,442 | +€415,700 | +108.3% |
| Amounts payable within one year | 42/48 | €406,933 | €393,041 | -€13,892 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €69,658 | €95,658 | +€26,000 | +37.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €62,952 | €45,215 | -€17,737 | -28.2% |
| Suppliers | 440/4 | €62,952 | €45,215 | -€17,737 | -28.2% |
| Taxes, remuneration and social security | 45 | €48,520 | €26,176 | -€22,344 | -46.1% |
| Taxes | 450/3 | €35,455 | €11,593 | -€23,862 | -67.3% |
| Remuneration and social security | 454/9 | €13,066 | €14,583 | +€1,518 | +11.6% |
| Other amounts payable | 47/48 | €100,802 | €100,992 | +€189 | +0.2% |
| Accrued charges and deferred income | 492/3 | €969 | €1,978 | +€1,009 | +104.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €61,769 | €63,007 | +€1,237 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,056 | €118,404 | +€68,348 | +136.5% |
| Other operating charges | 640/8 | €3,230 | €4,530 | +€1,300 | +40.3% |
| Non-recurring operating charges | 66A | - | €98 | +€98 | |
| Gross operating margin | 9900 | €219,731 | €182,058 | -€37,673 | -17.1% |
| Operating profit (loss) | 9901 | €104,675 | -€3,981 | -€108,657 | |
| Financial income | 75/76B | €1,628 | €2,931 | +€1,303 | +80.1% |
| Recurring financial income | 75 | €1,628 | €2,931 | +€1,303 | +80.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €18,762 | €14,696 | -€4,067 | -21.7% |
| Recurring financial charges | 65 | €18,762 | €14,696 | -€4,067 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €87,541 | -€15,746 | -€103,287 | |
| Income taxes | 67/77 | €43,767 | €165 | -€43,602 | -99.6% |
| Profit (loss) for the period | 9904 | €43,774 | -€15,911 | -€59,685 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,774 | -€15,911 | -€59,685 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.