Cordesa Belgium: 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.
Cordesa Belgium
Largest movements
- Stocks and contracts +€14,461
up €14,461 (+33.8%), from €42,749 to €57,210
- Tangible fixed assets +€11,724
new in 2025: €11,724
- Trade debts +€15,052
up €15,052 (+24.9%), from €60,436 to €75,489
- Other debts +€13,239
up €13,239 (+17.2%), from €77,106 to €90,345
- Gross operating margin +€6,088
up €6,088, from -€1,919 to €4,168
- Financial charges -€283
down €283 (-4.8%), from €5,842 to €5,559
- Depreciation +€268
new in 2025: €268
- Financial income -€200
no longer reported in 2025 (was €200)
- Taxes +€176
new in 2025: €176
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
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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,492 | €215,450 | +€25,958 | +13.7% |
| Fixed assets | 21/28 | €6,138 | €17,862 | +€11,724 | +191% |
| Tangible fixed assets | 22/27 | - | €11,724 | +€11,724 | |
| Plant, machinery and equipment | 23 | - | €11,724 | +€11,724 | |
| Financial fixed assets | 28 | €6,138 | €6,138 | = | 0.0% |
| Current assets | 29/58 | €183,354 | €197,588 | +€14,234 | +7.8% |
| Stocks and contracts in progress | 3 | €42,749 | €57,210 | +€14,461 | +33.8% |
| Stocks | 30/36 | €42,749 | €57,210 | +€14,461 | +33.8% |
| Amounts receivable within one year | 40/41 | €140,424 | €139,624 | -€799 | -0.6% |
| Trade receivables | 40 | €26,843 | €25,377 | -€1,466 | -5.5% |
| Other amounts receivable | 41 | €113,581 | €114,248 | +€667 | +0.6% |
| Deferred charges and accrued income | 490/1 | €182 | €754 | +€572 | +315% |
| Total equity and liabilities | 10/49 | €189,492 | €215,450 | +€25,958 | +13.7% |
| Equity | 10/15 | €13,526 | €11,692 | -€1,834 | -13.6% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,236 | -€75,071 | -€1,834 | -2.5% |
| Amounts payable | 17/49 | €175,966 | €203,758 | +€27,792 | +15.8% |
| Amounts payable within one year | 42/48 | €175,966 | €203,758 | +€27,792 | +15.8% |
| Financial debts | 43 | €38,125 | €37,748 | -€377 | -1.0% |
| Credit institutions | 430/8 | €38,125 | €37,748 | -€377 | -1.0% |
| Trade debts | 44 | €60,436 | €75,489 | +€15,052 | +24.9% |
| Suppliers | 440/4 | €60,436 | €75,489 | +€15,052 | +24.9% |
| Taxes, remuneration and social security | 45 | €299 | €176 | -€122 | -41.0% |
| Taxes | 450/3 | €299 | €176 | -€122 | -41.0% |
| Other amounts payable | 47/48 | €77,106 | €90,345 | +€13,239 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €268 | +€268 | |
| Gross operating margin | 9900 | -€1,919 | €4,168 | +€6,088 | |
| Operating profit (loss) | 9901 | -€1,919 | €3,901 | +€5,820 | |
| Financial income | 75/76B | €200 | - | -€200 | |
| Recurring financial income | 75 | €200 | - | -€200 | |
| Financial charges | 65/66B | €5,842 | €5,559 | -€283 | -4.8% |
| Recurring financial charges | 65 | €5,842 | €5,559 | -€283 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,561 | -€1,658 | +€5,903 | +78.1% |
| Income taxes | 67/77 | - | €176 | +€176 | |
| Profit (loss) for the period | 9904 | -€7,561 | -€1,834 | +€5,726 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,561 | -€1,834 | +€5,726 | +75.7% |
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 1 November 2026 via checked.be.