CORAF: 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.
CORAF
Largest movements
- Cash -€191,712
down €191,712 (-31.2%), from €613,945 to €422,233
mainly Other debts (-€234,819) and Tax, wage and social debts (-€12,626)
- Tangible fixed assets -€32,620
down €32,620 (-16.1%), from €202,748 to €170,128
of which Furniture and vehicles: -€22,257
- Other debts -€234,819
down €234,819 (-57.0%), from €411,874 to €177,055
- Reserves +€31,385
up €31,385 (+10.0%), from €313,826 to €345,211
of which Distributable reserves: +€31,385
- Tax, wage and social debts -€12,626
down €12,626 (-26.0%), from €48,564 to €35,939
- Debts after one year -€11,192
down €11,192 (-62.9%), from €17,786 to €6,594
- Gross operating margin -€84,508
down €84,508 (-35.7%), from €237,009 to €152,502
- Other operating charges +€29,787
up €29,787 (+484%), from €6,151 to €35,938
- Taxes -€20,716
down €20,716 (-40.5%), from €51,170 to €30,454
- Financial income +€3,378
up €3,378 (+255%), from €1,324 to €4,702
of which Financial income: +€2,378
- Depreciation -€3,149
down €3,149 (-7.2%), from €43,988 to €40,838
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 | €906,787 | €677,745 | -€229,042 | -25.3% |
| Fixed assets | 21/28 | €202,748 | €170,128 | -€32,620 | -16.1% |
| Tangible fixed assets | 22/27 | €202,748 | €170,128 | -€32,620 | -16.1% |
| Plant, machinery and equipment | 23 | €23,194 | €25,453 | +€2,260 | +9.7% |
| Furniture and vehicles | 24 | €93,706 | €71,449 | -€22,257 | -23.8% |
| Other tangible fixed assets | 26 | €85,849 | €73,225 | -€12,623 | -14.7% |
| Current assets | 29/58 | €704,039 | €507,617 | -€196,422 | -27.9% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €87,094 | €81,342 | -€5,752 | -6.6% |
| Trade receivables | 40 | €87,094 | €81,342 | -€5,752 | -6.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €613,945 | €422,233 | -€191,712 | -31.2% |
| Deferred charges and accrued income | 490/1 | - | €1,042 | +€1,042 | |
| Total equity and liabilities | 10/49 | €906,787 | €677,745 | -€229,042 | -25.3% |
| Equity | 10/15 | €383,826 | €415,211 | +€31,385 | +8.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €313,826 | €345,211 | +€31,385 | +10.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €313,826 | €345,211 | +€31,385 | +10.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €522,961 | €262,534 | -€260,427 | -49.8% |
| Amounts payable after more than one year | 17 | €17,786 | €6,594 | -€11,192 | -62.9% |
| Financial debts | 170/4 | €17,786 | €6,594 | -€11,192 | -62.9% |
| Amounts payable within one year | 42/48 | €489,864 | €240,878 | -€248,986 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €11,051 | €12,118 | +€1,067 | +9.7% |
| Financial debts | 43 | - | €985 | +€985 | |
| Credit institutions | 430/8 | - | €985 | +€985 | |
| Trade debts | 44 | €18,375 | €14,781 | -€3,594 | -19.6% |
| Suppliers | 440/4 | €18,375 | €14,781 | -€3,594 | -19.6% |
| Taxes, remuneration and social security | 45 | €48,564 | €35,939 | -€12,626 | -26.0% |
| Taxes | 450/3 | €48,564 | €35,939 | -€12,626 | -26.0% |
| Other amounts payable | 47/48 | €411,874 | €177,055 | -€234,819 | -57.0% |
| Accrued charges and deferred income | 492/3 | €15,311 | €15,061 | -€249 | -1.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,988 | €40,838 | -€3,149 | -7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €6,151 | €35,938 | +€29,787 | +484% |
| Non-recurring operating charges | 66A | €79,154 | €0 | -€79,154 | -100% |
| Gross operating margin | 9900 | €237,009 | €152,502 | -€84,508 | -35.7% |
| Operating profit (loss) | 9901 | €107,716 | €75,725 | -€31,991 | -29.7% |
| Financial income | 75/76B | €1,324 | €4,702 | +€3,378 | +255% |
| Recurring financial income | 75 | €1,324 | €3,702 | +€2,378 | +180% |
| Non-recurring financial income | 76B | - | €1,000 | +€1,000 | |
| Financial charges | 65/66B | €17,055 | €18,589 | +€1,534 | +9.0% |
| Recurring financial charges | 65 | €17,055 | €18,589 | +€1,534 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €91,985 | €61,838 | -€30,147 | -32.8% |
| Income taxes | 67/77 | €51,170 | €30,454 | -€20,716 | -40.5% |
| Profit (loss) for the period | 9904 | €40,815 | €31,385 | -€9,430 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,815 | €31,385 | -€9,430 | -23.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 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.