Claude CORDY: 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.
Claude CORDY
Largest movements
- Cash +€17,747
up €17,747 (+56.0%), from €31,667 to €49,413
mainly Depreciation (+€38,914) and Tax, wage and social debts (+€17,671)
- Receivables within one year -€14,072
down €14,072 (-20.6%), from €68,350 to €54,277
of which Trade receivables: -€8,993
- Stocks and contracts +€7,139
up €7,139 (+22.6%), from €31,560 to €38,699
- Profit (loss) carried forward -€46,820
down €46,820 (-98.7%), from €47,459 to €640
- Reserves +€45,000
up €45,000 (+119%), from €37,760 to €82,760
of which Distributable reserves: +€45,000
- Tax, wage and social debts +€17,671
up €17,671 (+325%), from €5,433 to €23,103
of which Remuneration and social security: +€15,391
- Accrued charges and deferred income -€9,048
down €9,048 (-76.7%), from €11,793 to €2,745
- Current portion of long-term debt +€4,857
up €4,857 (+30.1%), from €16,116 to €20,974
- Gross operating margin +€75,314
up €75,314 (+48.0%), from €156,888 to €232,202
- Staff costs +€71,031
up €71,031 (+61.6%), from €115,356 to €186,387
- Depreciation +€6,823
up €6,823 (+21.3%), from €32,091 to €38,914
- Other operating charges +€4,093
up €4,093 (+116%), from €3,543 to €7,636
- Write-downs -€3,047
down €3,047, from €282 to -€2,765
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 | €232,326 | €242,386 | +€10,059 | +4.3% |
| Fixed assets | 21/28 | €92,410 | €93,407 | +€997 | +1.1% |
| Tangible fixed assets | 22/27 | €92,275 | €93,272 | +€997 | +1.1% |
| Land and buildings | 22 | €88,529 | €64,445 | -€24,084 | -27.2% |
| Plant, machinery and equipment | 23 | €1,481 | €4,423 | +€2,942 | +199% |
| Furniture and vehicles | 24 | €2,265 | €1,753 | -€512 | -22.6% |
| Leasing and similar rights | 25 | - | €22,652 | +€22,652 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €139,917 | €148,979 | +€9,062 | +6.5% |
| Stocks and contracts in progress | 3 | €31,560 | €38,699 | +€7,139 | +22.6% |
| Stocks | 30/36 | €31,560 | €38,699 | +€7,139 | +22.6% |
| Amounts receivable within one year | 40/41 | €68,350 | €54,277 | -€14,072 | -20.6% |
| Trade receivables | 40 | €53,307 | €44,314 | -€8,993 | -16.9% |
| Other amounts receivable | 41 | €15,043 | €9,964 | -€5,079 | -33.8% |
| Cash at bank and in hand | 54/58 | €31,667 | €49,413 | +€17,747 | +56.0% |
| Deferred charges and accrued income | 490/1 | €8,341 | €6,589 | -€1,752 | -21.0% |
| Total equity and liabilities | 10/49 | €232,326 | €242,386 | +€10,059 | +4.3% |
| Equity | 10/15 | €98,214 | €95,795 | -€2,420 | -2.5% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €37,760 | €82,760 | +€45,000 | +119% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,900 | €15,900 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €65,000 | +€45,000 | +225% |
| Profit (loss) carried forward | 14 | €47,459 | €640 | -€46,820 | -98.7% |
| Investment grants | 15 | €600 | - | -€600 | |
| Amounts payable | 17/49 | €134,112 | €146,591 | +€12,479 | +9.3% |
| Amounts payable after more than one year | 17 | €36,891 | €33,878 | -€3,012 | -8.2% |
| Financial debts | 170/4 | €36,891 | €33,878 | -€3,012 | -8.2% |
| Amounts payable within one year | 42/48 | €85,429 | €109,968 | +€24,539 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €16,116 | €20,974 | +€4,857 | +30.1% |
| Trade debts | 44 | €61,640 | €65,891 | +€4,251 | +6.9% |
| Suppliers | 440/4 | €61,640 | €65,891 | +€4,251 | +6.9% |
| Taxes, remuneration and social security | 45 | €5,433 | €23,103 | +€17,671 | +325% |
| Taxes | 450/3 | €345 | €2,624 | +€2,280 | +661% |
| Remuneration and social security | 454/9 | €5,088 | €20,479 | +€15,391 | +303% |
| Other amounts payable | 47/48 | €2,240 | - | -€2,240 | |
| Accrued charges and deferred income | 492/3 | €11,793 | €2,745 | -€9,048 | -76.7% |
| Non-recurring operating income | 76A | €81 | €10,413 | +€10,332 | +12,753% |
| Remuneration, social security and pensions | 62 | €115,356 | €186,387 | +€71,031 | +61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,091 | €38,914 | +€6,823 | +21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €282 | -€2,765 | -€3,047 | |
| Other operating charges | 640/8 | €3,543 | €7,636 | +€4,093 | +116% |
| Gross operating margin | 9900 | €156,888 | €232,202 | +€75,314 | +48.0% |
| Operating profit (loss) | 9901 | €5,616 | €2,030 | -€3,586 | -63.9% |
| Financial income | 75/76B | €601 | €686 | +€85 | +14.1% |
| Recurring financial income | 75 | €601 | €686 | +€85 | +14.1% |
| Financial charges | 65/66B | €4,690 | €4,242 | -€448 | -9.5% |
| Recurring financial charges | 65 | €3,437 | €4,242 | +€806 | +23.4% |
| Non-recurring financial charges | 66B | €1,253 | - | -€1,253 | |
| Profit (loss) for the period before taxes | 9903 | €1,526 | -€1,527 | -€3,053 | |
| Income taxes | 67/77 | €199 | €293 | +€94 | +47.1% |
| Profit (loss) for the period | 9904 | €1,327 | -€1,820 | -€3,147 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,327 | -€1,820 | -€3,147 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.