CORDELIA: 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.
CORDELIA
Largest movements
- Current investments +€30,000
up €30,000 (+10.0%), from €300,000 to €330,000
- Cash +€22,530
up €22,530 (+1,179%), from €1,911 to €24,441
mainly Net result for the year (+€36,148) and Receivables within one year (+€19,339)
- Receivables within one year -€19,339
down €19,339 (-74.4%), from €25,994 to €6,655
of which Other amounts receivable: -€12,067
- Reserves +€36,769
up €36,769 (+12.0%), from €306,932 to €343,701
of which Distributable reserves: +€38,629
- Gross operating margin -€29,268
down €29,268 (-38.2%), from €76,696 to €47,428
- Turnover -€26,986
down €26,986 (-34.4%), from €78,508 to €51,522
- Taxes -€10,132
down €10,132 (-37.4%), from €27,098 to €16,966
- Financial income -€2,323
down €2,323 (-26.9%), from €8,650 to €6,327
- Purchases and services +€2,282
up €2,282 (+126%), from €1,812 to €4,094
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 | €331,891 | €364,955 | +€33,064 | +10.0% |
| Fixed assets | 21/28 | - | €1,075 | +€1,075 | |
| Tangible fixed assets | 22/27 | - | €1,075 | +€1,075 | |
| Furniture and vehicles | 24 | - | €1,075 | +€1,075 | |
| Current assets | 29/58 | €331,891 | €363,880 | +€31,989 | +9.6% |
| Amounts receivable after more than one year | 29 | - | €402 | +€402 | |
| Other amounts receivable | 291 | - | €402 | +€402 | |
| Amounts receivable within one year | 40/41 | €25,994 | €6,655 | -€19,339 | -74.4% |
| Trade receivables | 40 | €13,927 | €6,655 | -€7,272 | -52.2% |
| Other amounts receivable | 41 | €12,067 | - | -€12,067 | |
| Current investments | 50/53 | €300,000 | €330,000 | +€30,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €1,911 | €24,441 | +€22,530 | +1,179% |
| Deferred charges and accrued income | 490/1 | €3,986 | €2,382 | -€1,604 | -40.2% |
| Total equity and liabilities | 10/49 | €331,891 | €364,955 | +€33,064 | +10.0% |
| Equity | 10/15 | €326,153 | €362,301 | +€36,148 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €306,932 | €343,701 | +€36,769 | +12.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €305,072 | €343,701 | +€38,629 | +12.7% |
| Profit (loss) carried forward | 14 | €621 | €0 | -€621 | -100% |
| Amounts payable | 17/49 | €5,738 | €2,654 | -€3,084 | -53.7% |
| Amounts payable within one year | 42/48 | €4,542 | €2,654 | -€1,888 | -41.6% |
| Financial debts | 43 | €1,120 | - | -€1,120 | |
| Other loans | 439 | €1,120 | - | -€1,120 | |
| Taxes, remuneration and social security | 45 | €3,422 | €2,654 | -€768 | -22.4% |
| Taxes | 450/3 | €3,422 | €2,654 | -€768 | -22.4% |
| Accrued charges and deferred income | 492/3 | €1,196 | - | -€1,196 | |
| Turnover | 70 | €78,508 | €51,522 | -€26,986 | -34.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,812 | €4,094 | +€2,282 | +126% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€13 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €134 | +€134 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €76,696 | €47,428 | -€29,268 | -38.2% |
| Operating profit (loss) | 9901 | €76,247 | €46,832 | -€29,415 | -38.6% |
| Financial income | 75/76B | €8,650 | €6,327 | -€2,323 | -26.9% |
| Recurring financial income | 75 | €8,650 | €6,327 | -€2,323 | -26.9% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €84,852 | €53,114 | -€31,738 | -37.4% |
| Income taxes | 67/77 | €27,098 | €16,966 | -€10,132 | -37.4% |
| Profit (loss) for the period | 9904 | €57,754 | €36,148 | -€21,606 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,754 | €36,148 | -€21,606 | -37.4% |
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 26 October 2026 via checked.be.