CORDA HOLDING: 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.
CORDA HOLDING
Largest movements
- Receivables within one year -€17,557
down €17,557 (-35.9%), from €48,865 to €31,308
- Cash +€5,389
up €5,389 (+24.5%), from €21,987 to €27,376
mainly Net result for the year (+€24,438) and Depreciation (+€21,493)
- Debts after one year -€22,167
down €22,167 (-17.4%), from €127,378 to €105,211
- Reserves -€18,359
down €18,359 (-22.4%), from €81,842 to €63,484
- Trade debts +€8,599
up €8,599 (+287%), from €2,999 to €11,598
- Other debts +€8,463
new in 2025: €8,463
- Tax, wage and social debts +€5,431
up €5,431 (+52.6%), from €10,333 to €15,765
of which Taxes: +€6,210
- Depreciation -€8,627
down €8,627 (-28.6%), from €30,120 to €21,493
- Gross operating margin -€4,179
down €4,179 (-3.5%), from €120,320 to €116,141
- Staff costs -€1,535
down €1,535 (-3.0%), from €51,484 to €49,949
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 | €432,780 | €415,239 | -€17,541 | -4.1% |
| Fixed assets | 21/28 | €337,951 | €333,254 | -€4,697 | -1.4% |
| Intangible fixed assets | 21 | €1,400 | - | -€1,400 | |
| Tangible fixed assets | 22/27 | €336,551 | €333,254 | -€3,297 | -1.0% |
| Land and buildings | 22 | €336,021 | €316,368 | -€19,653 | -5.8% |
| Furniture and vehicles | 24 | €530 | €16,886 | +€16,356 | +3,086% |
| Current assets | 29/58 | €94,829 | €81,985 | -€12,844 | -13.5% |
| Stocks and contracts in progress | 3 | €21,077 | €21,360 | +€284 | +1.3% |
| Stocks | 30/36 | €21,077 | €21,360 | +€284 | +1.3% |
| Amounts receivable within one year | 40/41 | €48,865 | €31,308 | -€17,557 | -35.9% |
| Other amounts receivable | 41 | €48,865 | €31,308 | -€17,557 | -35.9% |
| Cash at bank and in hand | 54/58 | €21,987 | €27,376 | +€5,389 | +24.5% |
| Deferred charges and accrued income | 490/1 | €2,900 | €1,941 | -€959 | -33.1% |
| Total equity and liabilities | 10/49 | €432,780 | €415,239 | -€17,541 | -4.1% |
| Equity | 10/15 | €270,394 | €252,036 | -€18,359 | -6.8% |
| Contributions | 10/11 | €206,831 | €206,831 | = | 0.0% |
| Reserves | 13 | €81,842 | €63,484 | -€18,359 | -22.4% |
| Distributable reserves | 133 | €81,842 | €63,484 | -€18,359 | -22.4% |
| Profit (loss) carried forward | 14 | -€18,279 | -€18,279 | = | 0.0% |
| Amounts payable | 17/49 | €162,386 | €163,203 | +€817 | +0.5% |
| Amounts payable after more than one year | 17 | €127,378 | €105,211 | -€22,167 | -17.4% |
| Financial debts | 170/4 | €127,378 | €105,211 | -€22,167 | -17.4% |
| Amounts payable within one year | 42/48 | €35,008 | €57,993 | +€22,985 | +65.7% |
| Current portion of amounts payable after more than one year | 42 | €21,676 | €22,167 | +€491 | +2.3% |
| Trade debts | 44 | €2,999 | €11,598 | +€8,599 | +287% |
| Suppliers | 440/4 | €2,999 | €11,598 | +€8,599 | +287% |
| Taxes, remuneration and social security | 45 | €10,333 | €15,765 | +€5,431 | +52.6% |
| Taxes | 450/3 | €3,499 | €9,709 | +€6,210 | +178% |
| Remuneration and social security | 454/9 | €6,835 | €6,055 | -€779 | -11.4% |
| Other amounts payable | 47/48 | - | €8,463 | +€8,463 | |
| Remuneration, social security and pensions | 62 | €51,484 | €49,949 | -€1,535 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,120 | €21,493 | -€8,627 | -28.6% |
| Other operating charges | 640/8 | €5,544 | €6,482 | +€937 | +16.9% |
| Gross operating margin | 9900 | €120,320 | €116,141 | -€4,179 | -3.5% |
| Operating profit (loss) | 9901 | €33,171 | €38,216 | +€5,045 | +15.2% |
| Financial income | 75/76B | €2,006 | €1,214 | -€792 | -39.5% |
| Recurring financial income | 75 | €2,006 | €1,214 | -€792 | -39.5% |
| Financial charges | 65/66B | €3,875 | €3,436 | -€439 | -11.3% |
| Recurring financial charges | 65 | €3,875 | €3,436 | -€439 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €31,302 | €35,995 | +€4,693 | +15.0% |
| Income taxes | 67/77 | €10,635 | €11,557 | +€922 | +8.7% |
| Profit (loss) for the period | 9904 | €20,668 | €24,438 | +€3,770 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,668 | €24,438 | +€3,770 | +18.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.