CORDICE: 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.
CORDICE
Largest movements
- Cash +€18,801
up €18,801 (+18,602%), from €101 to €18,903
mainly Other debts (+€6,739) and Receivables within one year (+€6,181)
- Receivables within one year -€6,181
down €6,181 (-55.5%), from €11,133 to €4,952
of which Trade receivables: -€7,478
- Other debts +€6,739
up €6,739 (+4,883%), from €138 to €6,877
- Trade debts +€3,785
up €3,785 (+1,080%), from €351 to €4,136
- Reserves +€2,403
up €2,403 (+41.4%), from €5,807 to €8,210
- Accrued charges and deferred income -€500
no longer reported in 2025 (was €500)
- Tax, wage and social debts +€456
up €456 (+6.5%), from €6,968 to €7,424
of which Taxes: +€2,256
- Gross operating margin -€1,948
down €1,948 (-25.1%), from €7,774 to €5,826
- Depreciation +€857
up €857 (+928%), from €92 to €949
- Financial charges +€317
up €317 (+332%), from €95 to €412
- Other operating charges +€166
up €166 (+132%), from €126 to €292
- Taxes +€118
up €118 (+7.1%), from €1,654 to €1,772
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
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 | €15,764 | €28,647 | +€12,884 | +81.7% |
| Fixed assets | 21/28 | €4,487 | €4,652 | +€166 | +3.7% |
| Tangible fixed assets | 22/27 | €4,487 | €4,652 | +€166 | +3.7% |
| Plant, machinery and equipment | 23 | €3,171 | €2,846 | -€325 | -10.2% |
| Furniture and vehicles | 24 | €1,316 | €1,806 | +€491 | +37.3% |
| Current assets | 29/58 | €11,277 | €23,995 | +€12,718 | +113% |
| Amounts receivable within one year | 40/41 | €11,133 | €4,952 | -€6,181 | -55.5% |
| Trade receivables | 40 | €11,133 | €3,655 | -€7,478 | -67.2% |
| Other amounts receivable | 41 | - | €1,297 | +€1,297 | |
| Cash at bank and in hand | 54/58 | €101 | €18,903 | +€18,801 | +18,602% |
| Deferred charges and accrued income | 490/1 | €43 | €140 | +€97 | +226% |
| Total equity and liabilities | 10/49 | €15,764 | €28,647 | +€12,884 | +81.7% |
| Equity | 10/15 | €7,807 | €10,210 | +€2,403 | +30.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,807 | €8,210 | +€2,403 | +41.4% |
| Distributable reserves | 133 | €5,807 | €8,210 | +€2,403 | +41.4% |
| Amounts payable | 17/49 | €7,957 | €18,437 | +€10,481 | +132% |
| Amounts payable within one year | 42/48 | €7,457 | €18,437 | +€10,981 | +147% |
| Trade debts | 44 | €351 | €4,136 | +€3,785 | +1,080% |
| Suppliers | 440/4 | €351 | €4,136 | +€3,785 | +1,080% |
| Taxes, remuneration and social security | 45 | €6,968 | €7,424 | +€456 | +6.5% |
| Taxes | 450/3 | €5,168 | €7,424 | +€2,256 | +43.7% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €138 | €6,877 | +€6,739 | +4,883% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92 | €949 | +€857 | +928% |
| Other operating charges | 640/8 | €126 | €292 | +€166 | +132% |
| Gross operating margin | 9900 | €7,774 | €5,826 | -€1,948 | -25.1% |
| Operating profit (loss) | 9901 | €7,555 | €4,585 | -€2,971 | -39.3% |
| Financial income | 75/76B | €1 | €2 | +€0 | +25.9% |
| Recurring financial income | 75 | €1 | €2 | +€0 | +25.9% |
| Financial charges | 65/66B | €95 | €412 | +€317 | +332% |
| Recurring financial charges | 65 | €95 | €412 | +€317 | +332% |
| Profit (loss) for the period before taxes | 9903 | €7,461 | €4,174 | -€3,287 | -44.1% |
| Income taxes | 67/77 | €1,654 | €1,772 | +€118 | +7.1% |
| Profit (loss) for the period | 9904 | €5,807 | €2,403 | -€3,404 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,807 | €2,403 | -€3,404 | -58.6% |
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 23 October 2026 via checked.be.