CORBO: what changed
CORBO
Largest movements
- Stocks and contracts -€522,761
down €522,761 (-90.6%), from €577,044 to €54,283
of which Stocks: -€537,044
- Tangible fixed assets +€251,846
up €251,846 (+40.1%), from €627,451 to €879,297
of which Land and buildings: +€257,575
- Cash -€24,515
down €24,515 (-64.0%), from €38,297 to €13,782
mainly Short-term financial debts (-€357,556) and Investment in fixed assets (net) (-€276,528)
- Short-term financial debts -€357,556
down €357,556 (-99.5%), from €359,531 to €1,976
- Other debts -€63,195
down €63,195 (-64.1%), from €98,606 to €35,411
- Trade debts +€37,591
up €37,591 (+122%), from €30,869 to €68,460
- Tax, wage and social debts +€36,992
up €36,992 (+340%), from €10,872 to €47,864
of which Taxes: +€33,868
- Debts after one year +€35,413
up €35,413 (+4.1%), from €854,063 to €889,476
of which Financial debts: +€35,413
- Gross operating margin +€35,314
up €35,314 (+41.3%), from €85,512 to €120,826
- Write-downs +€20,368
up €20,368 (+93.4%), from -€21,813 to -€1,445
- Depreciation +€6,404
up €6,404 (+35.0%), from €18,278 to €24,682
- Other operating charges -€4,585
down €4,585 (-34.0%), from €13,494 to €8,908
- Staff costs -€4,480
down €4,480 (-33.5%), from €13,365 to €8,885
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,450,570 | €1,147,725 | -€302,845 | -20.9% |
| Fixed assets | 21/28 | €627,833 | €879,679 | +€251,846 | +40.1% |
| Tangible fixed assets | 22/27 | €627,451 | €879,297 | +€251,846 | +40.1% |
| Land and buildings | 22 | €604,675 | €862,250 | +€257,575 | +42.6% |
| Plant, machinery and equipment | 23 | €9,449 | €7,234 | -€2,215 | -23.4% |
| Furniture and vehicles | 24 | €13,327 | €9,813 | -€3,514 | -26.4% |
| Financial fixed assets | 28 | €383 | €383 | = | 0.0% |
| Current assets | 29/58 | €822,737 | €268,046 | -€554,691 | -67.4% |
| Stocks and contracts in progress | 3 | €577,044 | €54,283 | -€522,761 | -90.6% |
| Stocks | 30/36 | €577,044 | €40,000 | -€537,044 | -93.1% |
| Contracts in progress | 37 | - | €14,283 | +€14,283 | |
| Amounts receivable within one year | 40/41 | €207,371 | €198,246 | -€9,125 | -4.4% |
| Trade receivables | 40 | €181,940 | €160,261 | -€21,679 | -11.9% |
| Other amounts receivable | 41 | €25,431 | €37,985 | +€12,554 | +49.4% |
| Cash at bank and in hand | 54/58 | €38,297 | €13,782 | -€24,515 | -64.0% |
| Deferred charges and accrued income | 490/1 | €25 | €1,735 | +€1,710 | +6,914% |
| Total equity and liabilities | 10/49 | €1,450,570 | €1,147,725 | -€302,845 | -20.9% |
| Equity | 10/15 | €41,087 | €63,685 | +€22,599 | +55.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €2,995 | €2,995 | = | 0.0% |
| Reserves | 13 | €19,492 | €42,091 | +€22,599 | +116% |
| Distributable reserves | 133 | €19,492 | €42,091 | +€22,599 | +116% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,409,483 | €1,084,040 | -€325,444 | -23.1% |
| Amounts payable after more than one year | 17 | €854,063 | €889,476 | +€35,413 | +4.1% |
| Financial debts | 170/4 | €854,063 | €889,476 | +€35,413 | +4.1% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €533,206 | €188,297 | -€344,909 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €33,328 | €34,587 | +€1,259 | +3.8% |
| Financial debts | 43 | €359,531 | €1,976 | -€357,556 | -99.5% |
| Credit institutions | 430/8 | €359,531 | €1,976 | -€357,556 | -99.5% |
| Trade debts | 44 | €30,869 | €68,460 | +€37,591 | +122% |
| Suppliers | 440/4 | €30,869 | €68,460 | +€37,591 | +122% |
| Taxes, remuneration and social security | 45 | €10,872 | €47,864 | +€36,992 | +340% |
| Taxes | 450/3 | €10,872 | €44,739 | +€33,868 | +312% |
| Remuneration and social security | 454/9 | €0 | €3,125 | +€3,125 | |
| Other amounts payable | 47/48 | €98,606 | €35,411 | -€63,195 | -64.1% |
| Accrued charges and deferred income | 492/3 | €22,215 | €6,267 | -€15,948 | -71.8% |
| Remuneration, social security and pensions | 62 | €13,365 | €8,885 | -€4,480 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,278 | €24,682 | +€6,404 | +35.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,813 | -€1,445 | +€20,368 | +93.4% |
| Other operating charges | 640/8 | €13,494 | €8,908 | -€4,585 | -34.0% |
| Gross operating margin | 9900 | €85,512 | €120,826 | +€35,314 | +41.3% |
| Operating profit (loss) | 9901 | €62,188 | €79,795 | +€17,607 | +28.3% |
| Financial income | 75/76B | €3,988 | €4,457 | +€469 | +11.7% |
| Recurring financial income | 75 | €3,988 | €4,457 | +€469 | +11.7% |
| Financial charges | 65/66B | €49,774 | €52,721 | +€2,947 | +5.9% |
| Recurring financial charges | 65 | €49,774 | €52,721 | +€2,947 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €16,402 | €31,531 | +€15,129 | +92.2% |
| Income taxes | 67/77 | €5,519 | €8,933 | +€3,414 | +61.9% |
| Profit (loss) for the period | 9904 | €10,883 | €22,599 | +€11,716 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €10,883 | €22,599 | +€11,716 | +108% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.