CORD: 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.
CORD
Largest movements
- Intangible fixed assets +€88,400
new in 2025: €88,400
- Receivables within one year +€62,701
up €62,701 (+12219.5%), from €513 to €63,214
of which Other amounts receivable: +€51,851
- Stocks and contracts +€30,000
new in 2025: €30,000
- Tangible fixed assets +€6,229
new in 2025: €6,229
- Trade debts +€91,680
up €91,680 (+3910.1%), from €2,345 to €94,024
- Other debts +€89,144
up €89,144 (+428.5%), from €20,803 to €109,947
- Profit (loss) carried forward +€6,517
up €6,517 (+19.3%), from -€33,850 to -€27,333
- Gross operating margin +€19,288
up €19,288, from -€10,949 to €8,339
- Other operating charges -€483
down €483 (-42.6%), from €1,133 to €650
- Depreciation +€243
new in 2025: €243
- Financial charges +€116
up €116 (+14.3%), from €814 to €930
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 | €513 | €187,844 | +€187,330 | +36508.1% |
| Fixed assets | 21/28 | - | €94,630 | +€94,630 | |
| Intangible fixed assets | 21 | - | €88,400 | +€88,400 | |
| Tangible fixed assets | 22/27 | - | €6,229 | +€6,229 | |
| Other tangible fixed assets | 26 | - | €6,229 | +€6,229 | |
| Current assets | 29/58 | €513 | €93,214 | +€92,701 | +18066.1% |
| Stocks and contracts in progress | 3 | - | €30,000 | +€30,000 | |
| Contracts in progress | 37 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €513 | €63,214 | +€62,701 | +12219.5% |
| Trade receivables | 40 | €0 | €10,850 | +€10,850 | |
| Other amounts receivable | 41 | €513 | €52,364 | +€51,851 | +10105.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €513 | €187,844 | +€187,330 | +36508.1% |
| Equity | 10/15 | -€27,650 | -€21,133 | +€6,517 | +23.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,850 | -€27,333 | +€6,517 | +19.3% |
| Amounts payable | 17/49 | €28,163 | €208,977 | +€180,813 | +642.0% |
| Amounts payable within one year | 42/48 | €27,826 | €208,806 | +€180,980 | +650.4% |
| Financial debts | 43 | €4,678 | €4,834 | +€156 | +3.3% |
| Credit institutions | 430/8 | €4,678 | €4,834 | +€156 | +3.3% |
| Trade debts | 44 | €2,345 | €94,024 | +€91,680 | +3910.1% |
| Suppliers | 440/4 | €2,345 | €94,024 | +€91,680 | +3910.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €20,803 | €109,947 | +€89,144 | +428.5% |
| Accrued charges and deferred income | 492/3 | €338 | €171 | -€167 | -49.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €243 | +€243 | |
| Other operating charges | 640/8 | €1,133 | €650 | -€483 | -42.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€10,949 | €8,339 | +€19,288 | |
| Operating profit (loss) | 9901 | -€12,082 | €7,447 | +€19,529 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €814 | €930 | +€116 | +14.3% |
| Recurring financial charges | 65 | €814 | €930 | +€116 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,894 | €6,517 | +€19,411 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€12,894 | €6,517 | +€19,411 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,894 | €6,517 | +€19,411 |
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 6 October 2026 via checked.be.