CORDES: 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.
CORDES
Largest movements
- Deferred charges and accrued income -€51,338
down €51,338 (-97.4%), from €52,695 to €1,357
- Tangible fixed assets -€3,957
down €3,957 (-63.7%), from €6,208 to €2,251
- Stocks and contracts +€2,189
up €2,189 (+27.1%), from €8,063 to €10,252
- Receivables within one year -€691
down €691 (-48.6%), from €1,423 to €732
of which Other amounts receivable: -€902
- Profit (loss) carried forward -€38,120
down €38,120 (-36.9%), from -€103,247 to -€141,368
- Other debts -€5,561
down €5,561 (-24.3%), from €22,864 to €17,303
- Short-term financial debts -€5,130
down €5,130 (-83.5%), from €6,146 to €1,016
- Current portion of long-term debt -€2,175
down €2,175 (-69.9%), from €3,113 to €938
- Advances received -€2,037
no longer reported in 2023 (was €2,037)
- Gross operating margin -€35,636
down €35,636, from €2,741 to -€32,896
- Other operating charges -€340
down €340 (-62.6%), from €544 to €203
From the 2022 result to the 2023 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,389 | €14,592 | -€53,797 | -78.7% |
| Fixed assets | 21/28 | €6,208 | €2,251 | -€3,957 | -63.7% |
| Tangible fixed assets | 22/27 | €6,208 | €2,251 | -€3,957 | -63.7% |
| Furniture and vehicles | 24 | €6,208 | €2,251 | -€3,957 | -63.7% |
| Current assets | 29/58 | €62,181 | €12,341 | -€49,840 | -80.2% |
| Stocks and contracts in progress | 3 | €8,063 | €10,252 | +€2,189 | +27.1% |
| Stocks | 30/36 | €8,063 | €10,252 | +€2,189 | +27.1% |
| Amounts receivable within one year | 40/41 | €1,423 | €732 | -€691 | -48.6% |
| Trade receivables | 40 | €521 | €732 | +€211 | +40.4% |
| Other amounts receivable | 41 | €902 | - | -€902 | |
| Deferred charges and accrued income | 490/1 | €52,695 | €1,357 | -€51,338 | -97.4% |
| Total equity and liabilities | 10/49 | €68,389 | €14,592 | -€53,797 | -78.7% |
| Equity | 10/15 | -€17,250 | -€55,371 | -€38,120 | -221.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,397 | €67,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,347 | €67,347 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,247 | -€141,368 | -€38,120 | -36.9% |
| Provisions and deferred taxes | 16 | €34,679 | €34,679 | = | 0.0% |
| Deferred taxes | 168 | €34,679 | €34,679 | = | 0.0% |
| Amounts payable | 17/49 | €50,961 | €35,284 | -€15,677 | -30.8% |
| Amounts payable after more than one year | 17 | €2,362 | €2,362 | = | 0.0% |
| Financial debts | 170/4 | €2,362 | €2,362 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,599 | €32,922 | -€15,677 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €3,113 | €938 | -€2,175 | -69.9% |
| Financial debts | 43 | €6,146 | €1,016 | -€5,130 | -83.5% |
| Credit institutions | 430/8 | €6,146 | €1,016 | -€5,130 | -83.5% |
| Trade debts | 44 | €14,232 | €12,698 | -€1,534 | -10.8% |
| Suppliers | 440/4 | €14,232 | €12,698 | -€1,534 | -10.8% |
| Advances received on contracts in progress | 46 | €2,037 | - | -€2,037 | |
| Taxes, remuneration and social security | 45 | €207 | €967 | +€760 | +367.4% |
| Taxes | 450/3 | €207 | €967 | +€760 | +367.4% |
| Other amounts payable | 47/48 | €22,864 | €17,303 | -€5,561 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,160 | €3,957 | -€203 | -4.9% |
| Other operating charges | 640/8 | €544 | €203 | -€340 | -62.6% |
| Gross operating margin | 9900 | €2,741 | -€32,896 | -€35,636 | |
| Operating profit (loss) | 9901 | -€1,963 | -€37,056 | -€35,093 | -1788.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,094 | €1,065 | -€30 | -2.7% |
| Recurring financial charges | 65 | €1,094 | €1,065 | -€30 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,057 | -€38,120 | -€35,063 | -1147.0% |
| Income taxes | 67/77 | €207 | - | -€207 | |
| Profit (loss) for the period | 9904 | -€3,264 | -€38,120 | -€34,857 | -1068.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,264 | -€38,120 | -€34,857 | -1068.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.