COR - GAS: 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 - GAS
Largest movements
- Stocks and contracts -€271,123
down €271,123 (-88.7%), from €305,544 to €34,421
- Receivables within one year -€229,412
down €229,412 (-74.2%), from €309,370 to €79,957
of which Trade receivables: -€192,235
- Cash +€65,557
up €65,557 (+378%), from €17,324 to €82,881
mainly Stocks and contracts (+€271,123) and Receivables within one year (+€229,412)
- Tangible fixed assets -€55,091
down €55,091 (-35.2%), from €156,391 to €101,300
- Deferred charges and accrued income -€9,071
down €9,071 (-100%), from €9,071 to €0
- Short-term financial debts -€205,567
down €205,567 (-100%), from €205,567 to €0
- Trade debts -€107,796
down €107,796 (-75.5%), from €142,841 to €35,045
- Reserves -€70,719
down €70,719 (-32.6%), from €217,136 to €146,417
of which Distributable reserves: -€70,719
- Other debts -€50,287
down €50,287 (-100%), from €50,287 to €0
- Tax, wage and social debts -€42,704
down €42,704 (-96.8%), from €44,113 to €1,409
of which Taxes: -€24,021
- Gross operating margin -€274,102
down €274,102 (-63.1%), from €434,573 to €160,471
- Staff costs -€138,826
down €138,826 (-42.7%), from €324,983 to €186,157
- Depreciation -€27,490
down €27,490 (-47.5%), from €57,874 to €30,384
- Financial charges -€19,250
down €19,250 (-59.0%), from €32,600 to €13,350
- Taxes -€4,664
down €4,664 (-99.0%), from €4,709 to €45
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 | €797,969 | €298,829 | -€499,140 | -62.6% |
| Fixed assets | 21/28 | €156,661 | €101,570 | -€55,091 | -35.2% |
| Tangible fixed assets | 22/27 | €156,391 | €101,300 | -€55,091 | -35.2% |
| Land and buildings | 22 | €14,369 | €0 | -€14,369 | -100% |
| Plant, machinery and equipment | 23 | €85,719 | €64,289 | -€21,430 | -25.0% |
| Leasing and similar rights | 25 | €56,303 | €37,012 | -€19,292 | -34.3% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €641,308 | €197,259 | -€444,049 | -69.2% |
| Stocks and contracts in progress | 3 | €305,544 | €34,421 | -€271,123 | -88.7% |
| Stocks | 30/36 | €305,544 | €34,421 | -€271,123 | -88.7% |
| Amounts receivable within one year | 40/41 | €309,370 | €79,957 | -€229,412 | -74.2% |
| Trade receivables | 40 | €270,736 | €78,500 | -€192,235 | -71.0% |
| Other amounts receivable | 41 | €38,634 | €1,457 | -€37,177 | -96.2% |
| Cash at bank and in hand | 54/58 | €17,324 | €82,881 | +€65,557 | +378% |
| Deferred charges and accrued income | 490/1 | €9,071 | €0 | -€9,071 | -100% |
| Total equity and liabilities | 10/49 | €797,969 | €298,829 | -€499,140 | -62.6% |
| Equity | 10/15 | €292,136 | €221,417 | -€70,719 | -24.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €217,136 | €146,417 | -€70,719 | -32.6% |
| Non-distributable reserves | 130/1 | €8,726 | €8,726 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,226 | +€1,226 | |
| Other | 1319 | €1,226 | - | -€1,226 | |
| Tax-exempt reserves | 132 | €13,678 | €13,678 | = | 0.0% |
| Distributable reserves | 133 | €194,732 | €124,013 | -€70,719 | -36.3% |
| Amounts payable | 17/49 | €505,833 | €77,413 | -€428,421 | -84.7% |
| Amounts payable after more than one year | 17 | €32,840 | €25,265 | -€7,576 | -23.1% |
| Financial debts | 170/4 | €32,840 | €25,265 | -€7,576 | -23.1% |
| Amounts payable within one year | 42/48 | €463,514 | €50,243 | -€413,271 | -89.2% |
| Current portion of amounts payable after more than one year | 42 | €20,707 | €13,788 | -€6,918 | -33.4% |
| Financial debts | 43 | €205,567 | €0 | -€205,567 | -100% |
| Credit institutions | 430/8 | €205,567 | €0 | -€205,567 | -100% |
| Trade debts | 44 | €142,841 | €35,045 | -€107,796 | -75.5% |
| Suppliers | 440/4 | €142,841 | €35,045 | -€107,796 | -75.5% |
| Taxes, remuneration and social security | 45 | €44,113 | €1,409 | -€42,704 | -96.8% |
| Taxes | 450/3 | €24,021 | €0 | -€24,021 | -100% |
| Remuneration and social security | 454/9 | €20,092 | €1,409 | -€18,682 | -93.0% |
| Other amounts payable | 47/48 | €50,287 | €0 | -€50,287 | -100% |
| Accrued charges and deferred income | 492/3 | €9,479 | €1,905 | -€7,574 | -79.9% |
| Non-recurring operating income | 76A | €1,513 | - | -€1,513 | |
| Remuneration, social security and pensions | 62 | €324,983 | €186,157 | -€138,826 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,874 | €30,384 | -€27,490 | -47.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €759 | €0 | -€759 | -100% |
| Other operating charges | 640/8 | €3,769 | €1,901 | -€1,868 | -49.6% |
| Gross operating margin | 9900 | €434,573 | €160,471 | -€274,102 | -63.1% |
| Operating profit (loss) | 9901 | €47,188 | -€57,971 | -€105,159 | |
| Financial income | 75/76B | €269 | €647 | +€378 | +140% |
| Recurring financial income | 75 | €269 | €370 | +€100 | +37.3% |
| Non-recurring financial income | 76B | - | €277 | +€277 | |
| Financial charges | 65/66B | €32,600 | €13,350 | -€19,250 | -59.0% |
| Recurring financial charges | 65 | €32,600 | €13,350 | -€19,250 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €14,858 | -€70,674 | -€85,532 | |
| Income taxes | 67/77 | €4,709 | €45 | -€4,664 | -99.0% |
| Profit (loss) for the period | 9904 | €10,149 | -€70,719 | -€80,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,149 | -€70,719 | -€80,868 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.