CORDIALIS: 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.
CORDIALIS
Largest movements
- Tangible fixed assets -€17,278
down €17,278 (-59.5%), from €29,056 to €11,778
- Cash -€13,146
down €13,146 (-9.7%), from €134,872 to €121,726
mainly Contributions, distributions and other (-€46,218) and Net result for the year (-€12,781)
- Receivables within one year -€7,721
down €7,721 (-89.8%), from €8,594 to €874
of which Other amounts receivable: -€5,393
- Reserves -€46,703
down €46,703 (-23.9%), from €195,314 to €148,611
of which Distributable reserves: -€46,703
- Other debts +€21,238
up €21,238, from €0 to €21,238
- Profit (loss) carried forward -€12,296
down €12,296 (-40.8%), from -€30,103 to -€42,400
- Gross operating margin +€5,046
up €5,046 (+229.6%), from €2,198 to €7,244
- Depreciation -€1,009
down €1,009 (-5.5%), from €18,287 to €17,278
- Other operating charges +€194
up €194 (+11.9%), from €1,633 to €1,827
- Financial charges -€187
down €187 (-26.4%), from €707 to €521
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 | €175,048 | €137,318 | -€37,730 | -21.6% |
| Fixed assets | 21/28 | €29,056 | €11,778 | -€17,278 | -59.5% |
| Tangible fixed assets | 22/27 | €29,056 | €11,778 | -€17,278 | -59.5% |
| Furniture and vehicles | 24 | €29,056 | €11,778 | -€17,278 | -59.5% |
| Current assets | 29/58 | €145,992 | €125,540 | -€20,452 | -14.0% |
| Amounts receivable within one year | 40/41 | €8,594 | €874 | -€7,721 | -89.8% |
| Trade receivables | 40 | €3,202 | €874 | -€2,328 | -72.7% |
| Other amounts receivable | 41 | €5,393 | €0 | -€5,393 | -100.0% |
| Cash at bank and in hand | 54/58 | €134,872 | €121,726 | -€13,146 | -9.7% |
| Deferred charges and accrued income | 490/1 | €2,526 | €2,941 | +€415 | +16.4% |
| Total equity and liabilities | 10/49 | €175,048 | €137,318 | -€37,730 | -21.6% |
| Equity | 10/15 | €171,411 | €112,411 | -€58,999 | -34.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €195,314 | €148,611 | -€46,703 | -23.9% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €190,314 | €143,611 | -€46,703 | -24.5% |
| Profit (loss) carried forward | 14 | -€30,103 | -€42,400 | -€12,296 | -40.8% |
| Amounts payable | 17/49 | €3,637 | €24,907 | +€21,269 | +584.7% |
| Amounts payable within one year | 42/48 | €3,637 | €24,907 | +€21,269 | +584.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €886 | €1,484 | +€598 | +67.5% |
| Credit institutions | 430/8 | €886 | €1,484 | +€598 | +67.5% |
| Trade debts | 44 | €59 | €552 | +€493 | +836.0% |
| Suppliers | 440/4 | €59 | €552 | +€493 | +836.0% |
| Taxes, remuneration and social security | 45 | €2,693 | €1,633 | -€1,060 | -39.4% |
| Taxes | 450/3 | €2,693 | €1,633 | -€1,060 | -39.4% |
| Other amounts payable | 47/48 | €0 | €21,238 | +€21,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,287 | €17,278 | -€1,009 | -5.5% |
| Other operating charges | 640/8 | €1,633 | €1,827 | +€194 | +11.9% |
| Gross operating margin | 9900 | €2,198 | €7,244 | +€5,046 | +229.6% |
| Operating profit (loss) | 9901 | -€17,722 | -€11,862 | +€5,860 | +33.1% |
| Financial income | 75/76B | €28 | €2 | -€26 | -93.6% |
| Recurring financial income | 75 | €28 | €2 | -€26 | -93.6% |
| Financial charges | 65/66B | €707 | €521 | -€187 | -26.4% |
| Recurring financial charges | 65 | €707 | €521 | -€187 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,402 | -€12,381 | +€6,021 | +32.7% |
| Income taxes | 67/77 | €381 | €401 | +€20 | +5.3% |
| Profit (loss) for the period | 9904 | -€18,782 | -€12,781 | +€6,001 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,782 | -€12,781 | +€6,001 | +31.9% |
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 7 October 2026 via checked.be.