Cordent: 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.
Cordent
Largest movements
- Cash +€61,790
up €61,790 (+181.1%), from €34,125 to €95,915
mainly Net result for the year (+€47,686) and Receivables within one year (+€13,817)
- Receivables within one year -€13,817
no longer reported in 2025 (was €13,817)
- Tangible fixed assets +€3,614
up €3,614 (+83.9%), from €4,310 to €7,924
- Reserves +€47,686
up €47,686 (+175.5%), from €27,168 to €74,854
- Tax, wage and social debts +€5,691
up €5,691 (+80.5%), from €7,071 to €12,762
- Trade debts -€3,546
down €3,546 (-53.3%), from €6,656 to €3,110
- Other debts +€1,756
up €1,756 (+23.9%), from €7,358 to €9,113
- Gross operating margin +€26,988
up €26,988 (+77.6%), from €34,794 to €61,783
- Taxes +€5,820
up €5,820 (+82.3%), from €7,071 to €12,891
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 | €52,253 | €103,840 | +€51,587 | +98.7% |
| Fixed assets | 21/28 | €4,310 | €7,924 | +€3,614 | +83.9% |
| Tangible fixed assets | 22/27 | €4,310 | €7,924 | +€3,614 | +83.9% |
| Plant, machinery and equipment | 23 | €4,310 | €7,924 | +€3,614 | +83.9% |
| Current assets | 29/58 | €47,943 | €95,915 | +€47,973 | +100.1% |
| Amounts receivable within one year | 40/41 | €13,817 | - | -€13,817 | |
| Trade receivables | 40 | €13,817 | - | -€13,817 | |
| Cash at bank and in hand | 54/58 | €34,125 | €95,915 | +€61,790 | +181.1% |
| Total equity and liabilities | 10/49 | €52,253 | €103,840 | +€51,587 | +98.7% |
| Equity | 10/15 | €31,168 | €78,854 | +€47,686 | +153.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €27,168 | €74,854 | +€47,686 | +175.5% |
| Distributable reserves | 133 | €27,168 | €74,854 | +€47,686 | +175.5% |
| Amounts payable | 17/49 | €21,084 | €24,985 | +€3,901 | +18.5% |
| Amounts payable within one year | 42/48 | €21,084 | €24,985 | +€3,901 | +18.5% |
| Trade debts | 44 | €6,656 | €3,110 | -€3,546 | -53.3% |
| Suppliers | 440/4 | €6,656 | €3,110 | -€3,546 | -53.3% |
| Taxes, remuneration and social security | 45 | €7,071 | €12,762 | +€5,691 | +80.5% |
| Taxes | 450/3 | €7,071 | €12,762 | +€5,691 | +80.5% |
| Other amounts payable | 47/48 | €7,358 | €9,113 | +€1,756 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €529 | €1,001 | +€472 | +89.2% |
| Other operating charges | 640/8 | - | €100 | +€100 | |
| Gross operating margin | 9900 | €34,794 | €61,783 | +€26,988 | +77.6% |
| Operating profit (loss) | 9901 | €34,266 | €60,682 | +€26,417 | +77.1% |
| Financial charges | 65/66B | €26 | €105 | +€79 | +300.0% |
| Recurring financial charges | 65 | €26 | €105 | +€79 | +300.0% |
| Profit (loss) for the period before taxes | 9903 | €34,239 | €60,577 | +€26,338 | +76.9% |
| Income taxes | 67/77 | €7,071 | €12,891 | +€5,820 | +82.3% |
| Profit (loss) for the period | 9904 | €27,168 | €47,686 | +€20,518 | +75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,168 | €47,686 | +€20,518 | +75.5% |
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 11 October 2026 via checked.be.