CORBISIER: 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.
CORBISIER
Largest movements
- Tangible fixed assets +€123,385
up €123,385 (+50.6%), from €243,848 to €367,233
of which Land and buildings: +€101,092
- Cash +€92,092
up €92,092 (+776.3%), from €11,863 to €103,955
mainly Other debts (+€93,764) and Tax, wage and social debts (+€85,819)
- Deferred charges and accrued income +€59,742
up €59,742 (+60.7%), from €98,405 to €158,147
- Other debts +€93,764
up €93,764 (+24.8%), from €378,755 to €472,519
- Tax, wage and social debts +€85,819
up €85,819 (+91.5%), from €93,820 to €179,639
of which Remuneration and social security: +€89,043
- Debts after one year +€56,546
up €56,546 (+30.5%), from €185,472 to €242,018
- Reserves +€19,534
up €19,534 (+5.6%), from €350,631 to €370,166
of which Tax-exempt reserves: +€19,534
- Gross operating margin +€337,190
up €337,190 (+18.7%), from €1.8m to €2.1m
- Staff costs +€331,035
up €331,035 (+20.1%), from €1.6m to €2.0m
- Financial charges +€64,984
up €64,984 (+562.9%), from €11,545 to €76,530
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,661,340 | €1,947,605 | +€286,265 | +17.2% |
| Fixed assets | 21/28 | €1,248,998 | €1,372,383 | +€123,385 | +9.9% |
| Intangible fixed assets | 21 | €1,005,140 | €1,005,140 | = | 0.0% |
| Tangible fixed assets | 22/27 | €243,848 | €367,233 | +€123,385 | +50.6% |
| Land and buildings | 22 | €103,668 | €204,760 | +€101,092 | +97.5% |
| Plant, machinery and equipment | 23 | €132,949 | €122,121 | -€10,828 | -8.1% |
| Furniture and vehicles | 24 | €7,231 | €40,352 | +€33,121 | +458.0% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €412,342 | €575,222 | +€162,880 | +39.5% |
| Stocks and contracts in progress | 3 | €769 | €970 | +€201 | +26.1% |
| Stocks | 30/36 | €769 | €970 | +€201 | +26.1% |
| Amounts receivable within one year | 40/41 | €301,304 | €312,150 | +€10,846 | +3.6% |
| Trade receivables | 40 | €247,869 | €309,789 | +€61,920 | +25.0% |
| Other amounts receivable | 41 | €53,436 | €2,362 | -€51,074 | -95.6% |
| Cash at bank and in hand | 54/58 | €11,863 | €103,955 | +€92,092 | +776.3% |
| Deferred charges and accrued income | 490/1 | €98,405 | €158,147 | +€59,742 | +60.7% |
| Total equity and liabilities | 10/49 | €1,661,340 | €1,947,605 | +€286,265 | +17.2% |
| Equity | 10/15 | €680,399 | €699,934 | +€19,534 | +2.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €350,631 | €370,166 | +€19,534 | +5.6% |
| Non-distributable reserves | 130/1 | €21,345 | €21,345 | = | 0.0% |
| Legal reserve | 130 | €21,345 | €21,345 | = | 0.0% |
| Tax-exempt reserves | 132 | €329,286 | €348,821 | +€19,534 | +5.9% |
| Profit (loss) carried forward | 14 | €311,176 | €311,176 | = | 0.0% |
| Amounts payable | 17/49 | €980,941 | €1,247,671 | +€266,730 | +27.2% |
| Amounts payable after more than one year | 17 | €185,472 | €242,018 | +€56,546 | +30.5% |
| Financial debts | 170/4 | €185,472 | €242,018 | +€56,546 | +30.5% |
| Amounts payable within one year | 42/48 | €723,507 | €931,380 | +€207,873 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €84,804 | €95,724 | +€10,920 | +12.9% |
| Trade debts | 44 | €166,128 | €183,497 | +€17,370 | +10.5% |
| Suppliers | 440/4 | €166,128 | €183,497 | +€17,370 | +10.5% |
| Taxes, remuneration and social security | 45 | €93,820 | €179,639 | +€85,819 | +91.5% |
| Taxes | 450/3 | €18,059 | €14,835 | -€3,224 | -17.9% |
| Remuneration and social security | 454/9 | €75,761 | €164,804 | +€89,043 | +117.5% |
| Other amounts payable | 47/48 | €378,755 | €472,519 | +€93,764 | +24.8% |
| Accrued charges and deferred income | 492/3 | €71,962 | €74,273 | +€2,311 | +3.2% |
| Remuneration, social security and pensions | 62 | €1,647,243 | €1,978,279 | +€331,035 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,134 | €17,500 | -€2,633 | -13.1% |
| Other operating charges | 640/8 | €1,366 | €347 | -€1,019 | -74.6% |
| Non-recurring operating charges | 66A | €65,860 | €42,350 | -€23,510 | -35.7% |
| Gross operating margin | 9900 | €1,805,367 | €2,142,557 | +€337,190 | +18.7% |
| Operating profit (loss) | 9901 | €70,764 | €104,081 | +€33,317 | +47.1% |
| Financial income | 75/76B | €87 | €32 | -€55 | -63.7% |
| Recurring financial income | 75 | €87 | €32 | -€55 | -63.7% |
| Financial charges | 65/66B | €11,545 | €76,530 | +€64,984 | +562.9% |
| Recurring financial charges | 65 | €11,545 | €76,530 | +€64,984 | +562.9% |
| Profit (loss) for the period before taxes | 9903 | €59,305 | €27,583 | -€31,723 | -53.5% |
| Income taxes | 67/77 | €16,669 | €8,048 | -€8,621 | -51.7% |
| Profit (loss) for the period | 9904 | €42,636 | €19,534 | -€23,102 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,636 | €19,534 | -€23,102 | -54.2% |
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 5 October 2026 via checked.be.