Cor Cordium: 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.
Cor Cordium
Largest movements
- Receivables within one year +€37,664
up €37,664 (+488%), from €7,711 to €45,375
of which Trade receivables: +€37,875
- Cash -€18,783
down €18,783 (-95.0%), from €19,781 to €998
mainly Receivables within one year (-€37,664) and Investment in fixed assets (net) (-€13,347)
- Tangible fixed assets +€6,136
up €6,136 (+26.4%), from €23,211 to €29,347
of which Land and buildings: +€11,622
- Reserves +€20,959
up €20,959 (+111%), from €18,891 to €39,850
- Tax, wage and social debts +€11,856
up €11,856 (+120%), from €9,904 to €21,760
- Debts after one year -€3,940
down €3,940 (-28.6%), from €13,774 to €9,833
- Other debts -€3,195
down €3,195 (-95.7%), from €3,340 to €145
- Gross operating margin +€25,636
up €25,636 (+204%), from €12,577 to €38,214
- Taxes +€5,960
up €5,960 (+218%), from €2,733 to €8,692
- Depreciation +€696
up €696 (+10.7%), from €6,515 to €7,211
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 | €52,486 | €77,981 | +€25,495 | +48.6% |
| Fixed assets | 21/28 | €23,211 | €29,347 | +€6,136 | +26.4% |
| Tangible fixed assets | 22/27 | €23,211 | €29,347 | +€6,136 | +26.4% |
| Land and buildings | 22 | - | €11,622 | +€11,622 | |
| Plant, machinery and equipment | 23 | €2,369 | €2,262 | -€108 | -4.6% |
| Furniture and vehicles | 24 | €20,842 | €15,463 | -€5,378 | -25.8% |
| Current assets | 29/58 | €29,275 | €48,634 | +€19,359 | +66.1% |
| Stocks and contracts in progress | 3 | €1,783 | €1,783 | = | 0.0% |
| Stocks | 30/36 | €1,783 | €1,783 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,711 | €45,375 | +€37,664 | +488% |
| Trade receivables | 40 | €7,500 | €45,375 | +€37,875 | +505% |
| Other amounts receivable | 41 | €211 | - | -€211 | |
| Cash at bank and in hand | 54/58 | €19,781 | €998 | -€18,783 | -95.0% |
| Deferred charges and accrued income | 490/1 | - | €478 | +€478 | |
| Total equity and liabilities | 10/49 | €52,486 | €77,981 | +€25,495 | +48.6% |
| Equity | 10/15 | €20,891 | €41,850 | +€20,959 | +100% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €18,891 | €39,850 | +€20,959 | +111% |
| Distributable reserves | 133 | €18,891 | €39,850 | +€20,959 | +111% |
| Amounts payable | 17/49 | €31,595 | €36,131 | +€4,536 | +14.4% |
| Amounts payable after more than one year | 17 | €13,774 | €9,833 | -€3,940 | -28.6% |
| Financial debts | 170/4 | €13,774 | €9,833 | -€3,940 | -28.6% |
| Amounts payable within one year | 42/48 | €17,821 | €26,297 | +€8,476 | +47.6% |
| Current portion of amounts payable after more than one year | 42 | €3,785 | €3,940 | +€155 | +4.1% |
| Trade debts | 44 | €792 | €452 | -€340 | -42.9% |
| Suppliers | 440/4 | €792 | €452 | -€340 | -42.9% |
| Taxes, remuneration and social security | 45 | €9,904 | €21,760 | +€11,856 | +120% |
| Taxes | 450/3 | €9,904 | €21,760 | +€11,856 | +120% |
| Other amounts payable | 47/48 | €3,340 | €145 | -€3,195 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,515 | €7,211 | +€696 | +10.7% |
| Other operating charges | 640/8 | €505 | €664 | +€159 | +31.4% |
| Gross operating margin | 9900 | €12,577 | €38,214 | +€25,636 | +204% |
| Operating profit (loss) | 9901 | €5,557 | €30,339 | +€24,782 | +446% |
| Financial income | 75/76B | €0 | €26 | +€25 | +42,483% |
| Recurring financial income | 75 | €0 | €26 | +€25 | +42,483% |
| Financial charges | 65/66B | €773 | €713 | -€60 | -7.8% |
| Recurring financial charges | 65 | €773 | €713 | -€60 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €4,784 | €29,651 | +€24,867 | +520% |
| Income taxes | 67/77 | €2,733 | €8,692 | +€5,960 | +218% |
| Profit (loss) for the period | 9904 | €2,051 | €20,959 | +€18,908 | +922% |
| Profit (loss) for the period to be appropriated | 9905 | €2,051 | €20,959 | +€18,908 | +922% |
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 23 October 2026 via checked.be.