COR - INVEST: 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 - INVEST
Largest movements
- Tangible fixed assets +€574,414
up €574,414 (+73.6%), from €780,729 to €1.4m
of which Land and buildings: +€506,010
- Cash -€223,110
down €223,110 (-79.4%), from €280,949 to €57,840
mainly Investment in fixed assets (net) (-€624,984) and Net result for the year (-€67,396)
- Receivables after one year -€150,000
down €150,000 (-100%), from €150,000 to €0
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Receivables within one year -€48,339
down €48,339 (-80.4%), from €60,117 to €11,778
of which Trade receivables: -€48,903
- Reserves -€67,396
down €67,396 (-6.4%), from €1.1m to €983,338
of which Distributable reserves: -€44,988
- Other debts +€66,789
up €66,789 (+64.7%), from €103,199 to €169,987
- Tax, wage and social debts -€17,435
down €17,435 (-100.0%), from €17,435 to €0
of which Taxes: -€17,435
- Depreciation +€25,612
up €25,612 (+103%), from €24,958 to €50,570
- Gross operating margin +€14,931
up €14,931 (+47.5%), from -€31,424 to -€16,494
- Financial income -€12,447
down €12,447 (-84.2%), from €14,787 to €2,340
- Other operating charges +€2,877
up €2,877 (+64.4%), from €4,471 to €7,349
- Financial charges +€1,246
up €1,246 (+50.5%), from €2,464 to €3,710
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 | €1,449,624 | €1,427,224 | -€22,400 | -1.5% |
| Fixed assets | 21/28 | €780,729 | €1,355,142 | +€574,414 | +73.6% |
| Tangible fixed assets | 22/27 | €780,729 | €1,355,142 | +€574,414 | +73.6% |
| Land and buildings | 22 | €765,542 | €1,271,552 | +€506,010 | +66.1% |
| Plant, machinery and equipment | 23 | €9,238 | €78,834 | +€69,596 | +753% |
| Furniture and vehicles | 24 | €628 | €193 | -€436 | -69.3% |
| Other tangible fixed assets | 26 | €5,320 | €4,564 | -€757 | -14.2% |
| Current assets | 29/58 | €668,896 | €72,082 | -€596,814 | -89.2% |
| Amounts receivable after more than one year | 29 | €150,000 | €0 | -€150,000 | -100% |
| Other amounts receivable | 291 | €150,000 | €0 | -€150,000 | -100% |
| Amounts receivable within one year | 40/41 | €60,117 | €11,778 | -€48,339 | -80.4% |
| Trade receivables | 40 | €49,750 | €847 | -€48,903 | -98.3% |
| Other amounts receivable | 41 | €10,367 | €10,931 | +€564 | +5.4% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €280,949 | €57,840 | -€223,110 | -79.4% |
| Deferred charges and accrued income | 490/1 | €27,830 | €2,465 | -€25,365 | -91.1% |
| Total equity and liabilities | 10/49 | €1,449,624 | €1,427,224 | -€22,400 | -1.5% |
| Equity | 10/15 | €1,112,234 | €1,044,838 | -€67,396 | -6.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,050,734 | €983,338 | -€67,396 | -6.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €634,598 | €612,191 | -€22,408 | -3.5% |
| Distributable reserves | 133 | €409,985 | €364,997 | -€44,988 | -11.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €211,533 | €204,064 | -€7,469 | -3.5% |
| Deferred taxes | 168 | €211,533 | €204,064 | -€7,469 | -3.5% |
| Amounts payable | 17/49 | €125,858 | €178,323 | +€52,465 | +41.7% |
| Amounts payable within one year | 42/48 | €122,513 | €172,440 | +€49,927 | +40.8% |
| Trade debts | 44 | €1,880 | €2,453 | +€573 | +30.5% |
| Suppliers | 440/4 | €1,880 | €2,453 | +€573 | +30.5% |
| Taxes, remuneration and social security | 45 | €17,435 | €0 | -€17,435 | -100.0% |
| Taxes | 450/3 | €17,435 | €0 | -€17,435 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €103,199 | €169,987 | +€66,789 | +64.7% |
| Accrued charges and deferred income | 492/3 | €3,345 | €5,883 | +€2,538 | +75.9% |
| Non-recurring operating income | 76A | €0 | €532 | +€532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,958 | €50,570 | +€25,612 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,050 | -€1,050 | |
| Other operating charges | 640/8 | €4,471 | €7,349 | +€2,877 | +64.4% |
| Non-recurring operating charges | 66A | €206 | €132 | -€74 | -36.0% |
| Gross operating margin | 9900 | -€31,424 | -€16,494 | +€14,931 | +47.5% |
| Operating profit (loss) | 9901 | -€61,060 | -€73,494 | -€12,435 | -20.4% |
| Financial income | 75/76B | €14,787 | €2,340 | -€12,447 | -84.2% |
| Recurring financial income | 75 | €14,787 | €2,340 | -€12,447 | -84.2% |
| Financial charges | 65/66B | €2,464 | €3,710 | +€1,246 | +50.5% |
| Recurring financial charges | 65 | €2,464 | €3,710 | +€1,246 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | -€48,737 | -€74,865 | -€26,128 | -53.6% |
| Transfer from deferred taxes | 780 | €4,121 | €7,469 | +€3,348 | +81.2% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€44,616 | -€67,396 | -€22,780 | -51.1% |
| Transfer from tax-exempt reserves | 789 | €12,364 | €22,408 | +€10,044 | +81.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,252 | -€44,988 | -€12,736 | -39.5% |
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 31 October 2026 via checked.be.