CORA: 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.
What changed
CORA
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€63.5m
2024 · -€33.9m-€29.6m
Equity
-
not filed
Cash
€126.1m
2024 · €12.8m+€113.4m
Balance sheet total
€186.4m
2024 · €139.0m+€47.4m
Largest movements
Assets
- Cash +€113.4m
up €113.4m (+888.0%), from €12.8m to €126.1m
mainly Contributions, distributions and other (+€63.5m) and Total equity and liabilities (+€47.4m)
- Stocks and contracts -€39.1m
down €39.1m (-69.4%), from €56.4m to €17.3m
- Tangible fixed assets -€26.6m
down €26.6m (-100.0%), from €26.6m to €0
of which Land and buildings: -€18.0m
- Receivables within one year +€7.2m
up €7.2m (+75.1%), from €9.5m to €16.7m
of which Other amounts receivable: +€10.5m
- Current investments -€4.9m
down €4.9m (-16.4%), from €30.0m to €25.1m
Equity and liabilities
- Total equity and liabilities +€47.4m
up €47.4m (+34.1%), from €139.0m to €186.4m
Income statement
- Turnover -€133.2m
down €133.2m (-27.1%), from €490.9m to €357.7m
- Goods and materials -€94.2m
down €94.2m (-22.9%), from €410.9m to €316.7m
- Staff costs -€20.7m
down €20.7m (-24.0%), from €86.3m to €65.6m
- Other operating income -€13.3m
down €13.3m (-24.8%), from €53.6m to €40.3m
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.
Result 2024
-€33.9m
Turnover
-€133.2m
Other operating income
-€13.3m
Goods and materials
+€94.2m
Services and other goods
-€4.4m
Staff costs
+€20.7m
Depreciation
-€4.2m
Write-downs
+€1.2m
Provisions
-€16,809
Other operating charges
+€925,510
Other operating items
+€8.4m
Financial income
+€664,427
Financial charges
-€656,247
Other financial items
+€1
Taxes
+€69,113
Deferred taxes and other
+€1
Result 2025
-€63.5m
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.
From operations
+€29.1m
Investment
+€20.8m
Financing
+€63.5m
Cash 2024
€12.8m
From operations (derived)
+€29.1m
Net result for the year
-€63.5m
Depreciation
+€11.5m
Stocks and contracts
+€39.1m
Receivables within one year
-€7.2m
Deferred charges and accrued income
+€1.7m
Total equity and liabilities
+€47.4m
Investment (derived)
+€20.8m
Investment in fixed assets (net)
+€15.9m
Current investments
+€4.9m
Financing
+€63.5m
Contributions, distributions and other
+€63.5m
Cash 2025
€126.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,992,296 | €186,379,854 | +€47.4m | +34.1% |
| Formation expenses | 20 | €33,835 | €0 | -€33,835 | -100.0% |
| Fixed assets | 21/28 | €27,406,191 | €0 | -€27.4m | -100.0% |
| Intangible fixed assets | 21 | €771,946 | €0 | -€771,946 | -100.0% |
| Tangible fixed assets | 22/27 | €26,588,413 | €0 | -€26.6m | -100.0% |
| Land and buildings | 22 | €18,011,397 | €0 | -€18.0m | -100.0% |
| Plant, machinery and equipment | 23 | €6,686,081 | €0 | -€6.7m | -100.0% |
| Furniture and vehicles | 24 | €1,691,085 | €0 | -€1.7m | -100.0% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | €192,635 | €0 | -€192,635 | -100.0% |
| Assets under construction and advance payments | 27 | €7,215 | €0 | -€7,215 | -100.0% |
| Financial fixed assets | 28 | €45,832 | €0 | -€45,832 | -100.0% |
| Affiliated companies | 280/1 | - | €0 | = | |
| Participating interests | 280 | - | €0 | = | |
| Amounts receivable | 281 | - | €0 | = | |
| Companies linked by participating interests | 282/3 | - | €0 | = | |
| Participating interests | 282 | - | €0 | = | |
| Amounts receivable | 283 | - | €0 | = | |
| Other financial fixed assets | 284/8 | €45,832 | €0 | -€45,832 | -100.0% |
| Shares | 284 | - | €0 | = | |
| Amounts receivable and cash guarantees | 285/8 | €45,832 | €0 | -€45,832 | -100.0% |
| Current assets | 29/58 | €111,552,270 | €186,379,854 | +€74.8m | +67.1% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €56,420,902 | €17,286,006 | -€39.1m | -69.4% |
| Stocks | 30/36 | €56,420,902 | €17,286,006 | -€39.1m | -69.4% |
| Goods purchased for resale | 34 | €56,052,494 | €17,286,006 | -€38.8m | -69.2% |
| Advance payments | 36 | €368,408 | - | -€368,408 | |
| Amounts receivable within one year | 40/41 | €9,546,897 | €16,716,861 | +€7.2m | +75.1% |
| Trade receivables | 40 | €6,937,114 | €3,606,291 | -€3.3m | -48.0% |
| Other amounts receivable | 41 | €2,609,783 | €13,110,571 | +€10.5m | +402.4% |
| Current investments | 50/53 | €30,000,000 | €25,094,856 | -€4.9m | -16.4% |
| Other investments | 51/53 | €30,000,000 | €25,094,856 | -€4.9m | -16.4% |
| Cash at bank and in hand | 54/58 | €12,765,710 | €126,127,040 | +€113.4m | +888.0% |
| Deferred charges and accrued income | 490/1 | €2,818,761 | €1,155,091 | -€1.7m | -59.0% |
| Total equity and liabilities | 10/49 | €138,992,296 | €186,379,854 | +€47.4m | +34.1% |
| Contributions | 10/11 | €26,500,000 | €75,421,829 | +€48.9m | +184.6% |
| Capital | 10 | €4,000,000 | €52,921,829 | +€48.9m | +1223.0% |
| Issued capital | 100 | €4,000,000 | €52,921,829 | +€48.9m | +1223.0% |
| Outside capital | 11 | €22,500,000 | €22,500,000 | = | 0.0% |
| Share premium | 1100/10 | €22,500,000 | €22,500,000 | = | 0.0% |
| Reserves | 13 | €5,184,795 | €5,184,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,813,655 | €2,813,655 | = | 0.0% |
| Legal reserve | 130 | €2,813,655 | €2,813,655 | = | 0.0% |
| Distributable reserves | 133 | €2,371,139 | €2,371,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,516,272 | -€93,982,960 | -€63.5m | -208.0% |
| Provisions for liabilities and charges | 160/5 | €10,928,964 | €108,281,360 | +€97.4m | +890.8% |
| Other liabilities and charges | 164/5 | €10,928,964 | €108,281,360 | +€97.4m | +890.8% |
| Amounts payable | 17/49 | €126,894,809 | €91,474,830 | -€35.4m | -27.9% |
| Amounts payable after more than one year | 17 | €33,000,000 | €21,100,131 | -€11.9m | -36.1% |
| Financial debts | 170/4 | €33,000,000 | €21,100,131 | -€11.9m | -36.1% |
| Other loans | 174 | €33,000,000 | €21,100,131 | -€11.9m | -36.1% |
| Amounts payable within one year | 42/48 | €91,122,201 | €61,687,534 | -€29.4m | -32.3% |
| Trade debts | 44 | €67,315,199 | €36,978,530 | -€30.3m | -45.1% |
| Suppliers | 440/4 | €67,315,199 | €36,978,530 | -€30.3m | -45.1% |
| Advances received on contracts in progress | 46 | €41,264 | - | -€41,264 | |
| Taxes, remuneration and social security | 45 | €20,928,813 | €24,355,318 | +€3.4m | +16.4% |
| Taxes | 450/3 | €6,631,190 | €7,931,441 | +€1.3m | +19.6% |
| Remuneration and social security | 454/9 | €14,297,623 | €16,423,877 | +€2.1m | +14.9% |
| Other amounts payable | 47/48 | €2,836,925 | €353,687 | -€2.5m | -87.5% |
| Accrued charges and deferred income | 492/3 | €2,772,608 | €8,687,164 | +€5.9m | +213.3% |
| Operating income | 70/76A | €546,139,971 | €579,484,470 | +€33.3m | +6.1% |
| Turnover | 70 | €490,947,252 | €357,737,311 | -€133.2m | -27.1% |
| Other operating income | 74 | €53,635,078 | €40,348,867 | -€13.3m | -24.8% |
| Non-recurring operating income | 76A | €1,557,641 | €181,398,293 | +€179.8m | +11545.7% |
| Operating charges | 60/66A | €578,494,123 | €641,498,211 | +€63.0m | +10.9% |
| Goods for resale, raw materials and consumables | 60 | €410,932,638 | €316,728,536 | -€94.2m | -22.9% |
| Change in stocks: decrease (increase) | 609 | -€785,917 | €39,902,313 | +€40.7m | |
| Services and other goods | 61 | €66,732,452 | €71,090,825 | +€4.4m | +6.5% |
| Remuneration, social security and pensions | 62 | €86,301,062 | €65,625,814 | -€20.7m | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,316,174 | €11,521,044 | +€4.2m | +57.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €58,915 | -€1,133,364 | -€1.2m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€692,043 | -€675,234 | +€16,809 | +2.4% |
| Other operating charges | 640/8 | €5,858,348 | €4,932,838 | -€925,510 | -15.8% |
| Non-recurring operating charges | 66A | €1,986,578 | €173,407,753 | +€171.4m | +8629.0% |
| Operating profit (loss) | 9901 | -€32,354,152 | -€62,013,741 | -€29.7m | -91.7% |
| Recurring financial income | 75 | €2,124,349 | €2,788,776 | +€664,427 | +31.3% |
| Income from financial fixed assets | 750 | €591 | - | -€591 | |
| Income from current assets | 751 | €256,589 | €281,994 | +€25,405 | +9.9% |
| Other financial income | 752/9 | €1,867,168 | €2,506,783 | +€639,615 | +34.3% |
| Financial charges | 65/66B | €3,585,474 | €4,241,721 | +€656,247 | +18.3% |
| Recurring financial charges | 65 | €3,585,474 | €4,241,721 | +€656,247 | +18.3% |
| Debt charges | 650 | €2,119,098 | €2,028,791 | -€90,307 | -4.3% |
| Other financial charges | 652/9 | €1,466,376 | €2,212,930 | +€746,554 | +50.9% |
| Profit (loss) for the period before taxes | 9903 | -€33,815,277 | -€63,466,685 | -€29.7m | -87.7% |
| Income taxes | 67/77 | €69,115 | €2 | -€69,113 | -100.0% |
| Taxes | 670/3 | €69,115 | €2 | -€69,113 | -100.0% |
| Profit (loss) for the period | 9904 | -€33,884,393 | -€63,466,687 | -€29.6m | -87.3% |
| Transfer from tax-exempt reserves | 789 | €4,432,247 | - | -€4.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,452,146 | -€63,466,687 | -€34.0m | -115.5% |
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 29 September 2026 via checked.be.