Corael: 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.
Corael
Largest movements
- Receivables within one year +€99,974
up €99,974 (+44.2%), from €226,193 to €326,167
of which Other amounts receivable: +€106,024
- Cash -€67,325
down €67,325 (-61.3%), from €109,905 to €42,580
mainly Receivables within one year (-€99,974) and Tax, wage and social debts (-€21,401)
- Tangible fixed assets +€11,807
up €11,807 (+1,683%), from €701 to €12,509
of which Furniture and vehicles: +€12,207
- Reserves +€65,880
up €65,880 (+22.7%), from €290,861 to €356,742
- Tax, wage and social debts -€21,401
down €21,401 (-63.3%), from €33,793 to €12,391
- Gross operating margin -€97,706
down €97,706 (-55.1%), from €177,368 to €79,662
- Write-downs -€43,643
no longer reported in 2025 (was €43,643)
- Taxes -€11,734
down €11,734 (-38.2%), from €30,677 to €18,943
- Financial income +€7,916
up €7,916 (+151%), from €5,259 to €13,175
- Depreciation +€2,619
up €2,619 (+279%), from €938 to €3,556
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 | €339,542 | €384,233 | +€44,690 | +13.2% |
| Fixed assets | 21/28 | €701 | €12,549 | +€11,847 | +1,689% |
| Tangible fixed assets | 22/27 | €701 | €12,509 | +€11,807 | +1,683% |
| Plant, machinery and equipment | 23 | €701 | €302 | -€399 | -56.9% |
| Furniture and vehicles | 24 | - | €12,207 | +€12,207 | |
| Financial fixed assets | 28 | - | €40 | +€40 | |
| Current assets | 29/58 | €338,841 | €371,684 | +€32,843 | +9.7% |
| Amounts receivable within one year | 40/41 | €226,193 | €326,167 | +€99,974 | +44.2% |
| Trade receivables | 40 | €56,140 | €50,090 | -€6,050 | -10.8% |
| Other amounts receivable | 41 | €170,053 | €276,077 | +€106,024 | +62.3% |
| Cash at bank and in hand | 54/58 | €109,905 | €42,580 | -€67,325 | -61.3% |
| Deferred charges and accrued income | 490/1 | €2,743 | €2,937 | +€194 | +7.1% |
| Total equity and liabilities | 10/49 | €339,542 | €384,233 | +€44,690 | +13.2% |
| Equity | 10/15 | €295,861 | €361,742 | +€65,880 | +22.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €290,861 | €356,742 | +€65,880 | +22.7% |
| Distributable reserves | 133 | €290,861 | €356,742 | +€65,880 | +22.7% |
| Amounts payable | 17/49 | €43,681 | €22,491 | -€21,190 | -48.5% |
| Amounts payable within one year | 42/48 | €43,681 | €22,491 | -€21,190 | -48.5% |
| Trade debts | 44 | €8,189 | €8,434 | +€245 | +3.0% |
| Suppliers | 440/4 | €8,189 | €8,434 | +€245 | +3.0% |
| Taxes, remuneration and social security | 45 | €33,793 | €12,391 | -€21,401 | -63.3% |
| Taxes | 450/3 | €33,793 | €12,391 | -€21,401 | -63.3% |
| Other amounts payable | 47/48 | €1,700 | €1,666 | -€34 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €938 | €3,556 | +€2,619 | +279% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €43,643 | - | -€43,643 | |
| Other operating charges | 640/8 | €1,075 | €935 | -€140 | -13.1% |
| Gross operating margin | 9900 | €177,368 | €79,662 | -€97,706 | -55.1% |
| Operating profit (loss) | 9901 | €131,713 | €75,171 | -€56,542 | -42.9% |
| Financial income | 75/76B | €5,259 | €13,175 | +€7,916 | +151% |
| Recurring financial income | 75 | €5,259 | €13,175 | +€7,916 | +151% |
| Financial charges | 65/66B | €1,712 | €1,856 | +€144 | +8.4% |
| Recurring financial charges | 65 | €1,712 | €1,856 | +€144 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €135,259 | €86,490 | -€48,769 | -36.1% |
| Income taxes | 67/77 | €30,677 | €18,943 | -€11,734 | -38.2% |
| Profit (loss) for the period | 9904 | €104,582 | €67,546 | -€37,036 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,582 | €67,546 | -€37,036 | -35.4% |
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 14 October 2026 via checked.be.