CORDIAL: 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.
CORDIAL
Largest movements
- Cash +€27,363
up €27,363 (+29.8%), from €91,738 to €119,101
mainly Accrued charges and deferred income (+€29,312) and Net result for the year (+€8,248)
- Stocks and contracts -€7,960
no longer reported in 2025 (was €7,960)
- Tangible fixed assets -€7,400
down €7,400 (-9.5%), from €77,818 to €70,418
- Financial fixed assets -€4,541
no longer reported in 2025 (was €4,541)
- Deferred charges and accrued income -€4,309
no longer reported in 2025 (was €4,309)
- Accrued charges and deferred income +€29,312
up €29,312 (+92.9%), from €31,564 to €60,876
- Other debts -€20,330
down €20,330 (-82.5%), from €24,656 to €4,326
- Tax, wage and social debts -€16,635
down €16,635 (-81.8%), from €20,343 to €3,708
of which Taxes: -€17,996
- Profit (loss) carried forward +€8,248
up €8,248 (+8.9%), from €92,599 to €100,847
- Trade debts +€6,819
up €6,819 (+223.7%), from €3,048 to €9,867
- Staff costs +€9,187
up €9,187 (+10.0%), from €92,281 to €101,467
- Gross operating margin +€4,927
up €4,927 (+4.1%), from €119,881 to €124,807
- Financial charges +€3,373
up €3,373 (+348.7%), from €967 to €4,341
- Taxes +€2,009
new in 2025: €2,009
- Depreciation -€1,921
down €1,921 (-20.6%), from €9,321 to €7,400
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 | €192,670 | €200,085 | +€7,415 | +3.8% |
| Fixed assets | 21/28 | €82,358 | €70,418 | -€11,941 | -14.5% |
| Tangible fixed assets | 22/27 | €77,818 | €70,418 | -€7,400 | -9.5% |
| Land and buildings | 22 | €77,818 | €70,418 | -€7,400 | -9.5% |
| Financial fixed assets | 28 | €4,541 | - | -€4,541 | |
| Current assets | 29/58 | €110,312 | €129,667 | +€19,355 | +17.5% |
| Stocks and contracts in progress | 3 | €7,960 | - | -€7,960 | |
| Stocks | 30/36 | €7,960 | - | -€7,960 | |
| Amounts receivable within one year | 40/41 | €6,304 | €10,566 | +€4,262 | +67.6% |
| Other amounts receivable | 41 | €6,304 | €10,566 | +€4,262 | +67.6% |
| Cash at bank and in hand | 54/58 | €91,738 | €119,101 | +€27,363 | +29.8% |
| Deferred charges and accrued income | 490/1 | €4,309 | - | -€4,309 | |
| Total equity and liabilities | 10/49 | €192,670 | €200,085 | +€7,415 | +3.8% |
| Equity | 10/15 | €113,059 | €121,307 | +€8,248 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,599 | €100,847 | +€8,248 | +8.9% |
| Amounts payable | 17/49 | €79,611 | €78,778 | -€833 | -1.0% |
| Amounts payable within one year | 42/48 | €48,047 | €17,901 | -€30,146 | -62.7% |
| Trade debts | 44 | €3,048 | €9,867 | +€6,819 | +223.7% |
| Suppliers | 440/4 | €3,048 | €9,867 | +€6,819 | +223.7% |
| Taxes, remuneration and social security | 45 | €20,343 | €3,708 | -€16,635 | -81.8% |
| Taxes | 450/3 | €20,343 | €2,347 | -€17,996 | -88.5% |
| Remuneration and social security | 454/9 | - | €1,361 | +€1,361 | |
| Other amounts payable | 47/48 | €24,656 | €4,326 | -€20,330 | -82.5% |
| Accrued charges and deferred income | 492/3 | €31,564 | €60,876 | +€29,312 | +92.9% |
| Remuneration, social security and pensions | 62 | €92,281 | €101,467 | +€9,187 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,321 | €7,400 | -€1,921 | -20.6% |
| Other operating charges | 640/8 | €1,335 | €1,402 | +€66 | +5.0% |
| Gross operating margin | 9900 | €119,881 | €124,807 | +€4,927 | +4.1% |
| Operating profit (loss) | 9901 | €16,943 | €14,538 | -€2,405 | -14.2% |
| Financial income | 75/76B | €0 | €59 | +€59 | +16817.1% |
| Recurring financial income | 75 | €0 | €59 | +€59 | +16817.1% |
| Financial charges | 65/66B | €967 | €4,341 | +€3,373 | +348.7% |
| Recurring financial charges | 65 | €967 | €4,341 | +€3,373 | +348.7% |
| Profit (loss) for the period before taxes | 9903 | €15,976 | €10,257 | -€5,720 | -35.8% |
| Income taxes | 67/77 | - | €2,009 | +€2,009 | |
| Profit (loss) for the period | 9904 | €15,976 | €8,248 | -€7,728 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,976 | €8,248 | -€7,728 | -48.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.