CORDIPA: 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.
CORDIPA
Largest movements
- Cash +€173,001
up €173,001 (+835.5%), from €20,705 to €193,707
mainly Net result for the year (+€103,475) and Depreciation (+€56,454)
- Tangible fixed assets -€58,673
down €58,673 (-9.0%), from €649,984 to €591,311
of which Plant, machinery and equipment: -€30,390
- Reserves +€100,370
up €100,370 (+38.2%), from €262,560 to €362,929
of which Distributable reserves: +€125,000
- Tax, wage and social debts +€12,500
new in 2025: €12,500
- Provisions -€8,210
down €8,210 (-9.9%), from €82,520 to €74,310
- Gross operating margin +€178,295
up €178,295 (+4727.9%), from €3,771 to €182,066
- Taxes +€12,500
new in 2025: €12,500
- Other operating charges +€6,463
up €6,463 (+61.3%), from €10,542 to €17,005
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 | €685,046 | €788,670 | +€103,625 | +15.1% |
| Formation expenses | 20 | €5,621 | - | -€5,621 | |
| Fixed assets | 21/28 | €649,984 | €591,311 | -€58,673 | -9.0% |
| Tangible fixed assets | 22/27 | €649,984 | €591,311 | -€58,673 | -9.0% |
| Land and buildings | 22 | €425,026 | €396,744 | -€28,283 | -6.7% |
| Plant, machinery and equipment | 23 | €224,957 | €194,567 | -€30,390 | -13.5% |
| Current assets | 29/58 | €29,441 | €197,360 | +€167,919 | +570.4% |
| Amounts receivable within one year | 40/41 | €186 | €51 | -€135 | -72.8% |
| Trade receivables | 40 | - | €51 | +€51 | |
| Other amounts receivable | 41 | €186 | - | -€186 | |
| Cash at bank and in hand | 54/58 | €20,705 | €193,707 | +€173,001 | +835.5% |
| Deferred charges and accrued income | 490/1 | €8,550 | €3,602 | -€4,948 | -57.9% |
| Total equity and liabilities | 10/49 | €685,046 | €788,670 | +€103,625 | +15.1% |
| Equity | 10/15 | €490,337 | €593,812 | +€103,475 | +21.1% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €262,560 | €362,929 | +€100,370 | +38.2% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €247,560 | €222,929 | -€24,630 | -9.9% |
| Distributable reserves | 133 | €3,000 | €128,000 | +€125,000 | +4166.7% |
| Profit (loss) carried forward | 14 | €107,777 | €110,883 | +€3,106 | +2.9% |
| Provisions and deferred taxes | 16 | €82,520 | €74,310 | -€8,210 | -9.9% |
| Deferred taxes | 168 | €82,520 | €74,310 | -€8,210 | -9.9% |
| Amounts payable | 17/49 | €112,189 | €120,549 | +€8,360 | +7.5% |
| Amounts payable within one year | 42/48 | €112,157 | €120,535 | +€8,378 | +7.5% |
| Trade debts | 44 | €3,471 | €100 | -€3,372 | -97.1% |
| Suppliers | 440/4 | €3,471 | €100 | -€3,372 | -97.1% |
| Taxes, remuneration and social security | 45 | - | €12,500 | +€12,500 | |
| Taxes | 450/3 | - | €12,500 | +€12,500 | |
| Other amounts payable | 47/48 | €108,685 | €107,935 | -€750 | -0.7% |
| Accrued charges and deferred income | 492/3 | €32 | €13 | -€19 | -58.6% |
| Non-recurring operating income | 76A | - | €605 | +€605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,523 | €56,454 | +€931 | +1.7% |
| Other operating charges | 640/8 | €10,542 | €17,005 | +€6,463 | +61.3% |
| Gross operating margin | 9900 | €3,771 | €182,066 | +€178,295 | +4727.9% |
| Operating profit (loss) | 9901 | -€62,294 | €108,607 | +€170,901 | |
| Financial charges | 65/66B | €842 | €842 | -€0 | 0.0% |
| Recurring financial charges | 65 | €842 | €842 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€63,136 | €107,765 | +€170,901 | |
| Transfer from deferred taxes | 780 | €8,210 | €8,210 | = | 0.0% |
| Income taxes | 67/77 | - | €12,500 | +€12,500 | |
| Profit (loss) for the period | 9904 | -€54,926 | €103,475 | +€158,401 | |
| Transfer from tax-exempt reserves | 789 | €24,630 | €24,630 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,295 | €128,106 | +€158,401 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.