CORCOVADO: 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
CORCOVADO
NACE 01.450, Raising of sheep and goats
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€553,600
2023 · €18.3m-€18.9m
Equity
€23.0m
2023 · €23.6m-€553,600
Cash
€3.0m
2023 · €3.5m-€522,203
Balance sheet total
€23.1m
2023 · €23.7m-€601,369
Largest movements
Assets
- Cash -€522,203
down €522,203 (-14.8%), from €3.5m to €3.0m
mainly Net result for the year (-€553,600) and Investment in fixed assets (net) (-€290,426)
Equity and liabilities
- Profit (loss) carried forward -€553,600
down €553,600 (-3.0%), from €18.3m to €17.8m
Income statement
- Financial income -€19.2m
down €19.2m (-99.8%), from €19.3m to €37,264
- Financial charges -€331,826
down €331,826 (-99.9%), from €332,015 to €189
- Gross operating margin +€83,726
up €83,726 (+24.6%), from -€339,884 to -€256,159
- Depreciation +€53,177
up €53,177 (+32.7%), from €162,522 to €215,699
- Staff costs +€24,865
up €24,865 (+29.2%), from €85,288 to €110,153
From the 2023 result to the 2024 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 2023
€18.3m
Gross operating margin
+€83,726
Staff costs
-€24,865
Depreciation
-€53,177
Other operating charges
-€1,048
Financial income
-€19.2m
Financial charges
+€331,826
Taxes
-€159
Result 2024
-€553,600
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€386,597
Investment
-€135,606
Financing
€0
Cash 2023
€3.5m
From operations (derived)
-€386,597
Net result for the year
-€553,600
Depreciation
+€215,699
Stocks and contracts
+€46,605
Receivables within one year
-€16,517
Deferred charges and accrued income
-€31,016
Trade debts
-€56,411
Tax, wage and social debts
+€8,643
Investment (derived)
-€135,606
Investment in fixed assets (net)
-€290,426
Current investments
+€154,821
Cash 2024
€3.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,682,463 | €23,081,094 | -€601,369 | -2.5% |
| Fixed assets | 21/28 | €16,602,897 | €16,677,625 | +€74,727 | +0.5% |
| Intangible fixed assets | 21 | €11,360 | €11,360 | = | 0.0% |
| Tangible fixed assets | 22/27 | €7,676,979 | €7,751,706 | +€74,727 | +1.0% |
| Land and buildings | 22 | €3,466,769 | €3,447,058 | -€19,711 | -0.6% |
| Plant, machinery and equipment | 23 | €119,873 | €144,810 | +€24,936 | +20.8% |
| Furniture and vehicles | 24 | €250,243 | €319,745 | +€69,502 | +27.8% |
| Other tangible fixed assets | 26 | €3,840,094 | €3,840,094 | = | 0.0% |
| Financial fixed assets | 28 | €8,914,559 | €8,914,559 | = | 0.0% |
| Current assets | 29/58 | €7,079,565 | €6,403,470 | -€676,096 | -9.5% |
| Amounts receivable after more than one year | 29 | €760,000 | €760,000 | = | 0.0% |
| Other amounts receivable | 291 | €760,000 | €760,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €399,970 | €353,365 | -€46,605 | -11.7% |
| Stocks | 30/36 | €399,970 | €353,365 | -€46,605 | -11.7% |
| Amounts receivable within one year | 40/41 | €264,157 | €280,674 | +€16,517 | +6.3% |
| Trade receivables | 40 | €13,801 | €12,578 | -€1,224 | -8.9% |
| Other amounts receivable | 41 | €250,355 | €268,096 | +€17,741 | +7.1% |
| Current investments | 50/53 | €1,869,041 | €1,714,220 | -€154,821 | -8.3% |
| Cash at bank and in hand | 54/58 | €3,540,224 | €3,018,022 | -€522,203 | -14.8% |
| Deferred charges and accrued income | 490/1 | €246,173 | €277,189 | +€31,016 | +12.6% |
| Total equity and liabilities | 10/49 | €23,682,463 | €23,081,094 | -€601,369 | -2.5% |
| Equity | 10/15 | €23,581,802 | €23,028,202 | -€553,600 | -2.3% |
| Contributions | 10/11 | €1,271,466 | €1,271,466 | = | 0.0% |
| Reserves | 13 | €3,977,011 | €3,977,011 | = | 0.0% |
| Distributable reserves | 133 | €3,977,011 | €3,977,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,333,326 | €17,779,726 | -€553,600 | -3.0% |
| Amounts payable | 17/49 | €100,661 | €52,892 | -€47,768 | -47.5% |
| Amounts payable within one year | 42/48 | €100,661 | €52,892 | -€47,768 | -47.5% |
| Trade debts | 44 | €70,023 | €13,611 | -€56,411 | -80.6% |
| Suppliers | 440/4 | €70,023 | €13,611 | -€56,411 | -80.6% |
| Taxes, remuneration and social security | 45 | €27,250 | €35,893 | +€8,643 | +31.7% |
| Taxes | 450/3 | €288 | €735 | +€447 | +155.1% |
| Remuneration and social security | 454/9 | €26,962 | €35,158 | +€8,196 | +30.4% |
| Other amounts payable | 47/48 | €3,388 | €3,388 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €85,288 | €110,153 | +€24,865 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,522 | €215,699 | +€53,177 | +32.7% |
| Other operating charges | 640/8 | €7,170 | €8,218 | +€1,048 | +14.6% |
| Gross operating margin | 9900 | -€339,884 | -€256,159 | +€83,726 | +24.6% |
| Operating profit (loss) | 9901 | -€594,865 | -€590,229 | +€4,636 | +0.8% |
| Financial income | 75/76B | €19,260,494 | €37,264 | -€19.2m | -99.8% |
| Recurring financial income | 75 | €19,260,494 | €37,264 | -€19.2m | -99.8% |
| Financial charges | 65/66B | €332,015 | €189 | -€331,826 | -99.9% |
| Recurring financial charges | 65 | €332,015 | €189 | -€331,826 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €18,333,614 | -€553,154 | -€18.9m | |
| Income taxes | 67/77 | €288 | €447 | +€159 | +55.1% |
| Profit (loss) for the period | 9904 | €18,333,326 | -€553,600 | -€18.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €18,333,326 | -€553,600 | -€18.9m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.