CORDOBA: 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.
CORDOBA
Largest movements
- Tangible fixed assets -€26,326
down €26,326 (-14.5%), from €181,925 to €155,598
of which Plant, machinery and equipment: -€25,342
- Receivables within one year -€5,186
down €5,186 (-75.3%), from €6,886 to €1,700
of which Other amounts receivable: -€6,724
- Stocks and contracts -€4,476
down €4,476 (-26.5%), from €16,903 to €12,428
- Deferred charges and accrued income -€2,557
down €2,557 (-100%), from €2,557 to €0
- Cash -€2,345
down €2,345 (-26.4%), from €8,890 to €6,545
mainly Net result for the year (-€51,046)
- Profit (loss) carried forward -€51,046
down €51,046 (-79.2%), from -€64,430 to -€115,476
- Other debts +€4,400
up €4,400 (+2.0%), from €220,242 to €224,642
- Tax, wage and social debts +€3,935
up €3,935 (+72.9%), from €5,400 to €9,334
of which Taxes: +€4,209
- Gross operating margin -€101,028
down €101,028 (-76.1%), from €132,779 to €31,751
- Staff costs -€53,345
down €53,345 (-50.4%), from €105,882 to €52,538
- Other operating charges -€1,670
down €1,670 (-33.2%), from €5,029 to €3,359
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 | €217,161 | €176,272 | -€40,889 | -18.8% |
| Fixed assets | 21/28 | €181,925 | €155,598 | -€26,326 | -14.5% |
| Tangible fixed assets | 22/27 | €181,925 | €155,598 | -€26,326 | -14.5% |
| Plant, machinery and equipment | 23 | €178,070 | €152,727 | -€25,342 | -14.2% |
| Furniture and vehicles | 24 | €3,855 | €2,871 | -€984 | -25.5% |
| Current assets | 29/58 | €35,236 | €20,673 | -€14,563 | -41.3% |
| Stocks and contracts in progress | 3 | €16,903 | €12,428 | -€4,476 | -26.5% |
| Stocks | 30/36 | €16,903 | €12,428 | -€4,476 | -26.5% |
| Amounts receivable within one year | 40/41 | €6,886 | €1,700 | -€5,186 | -75.3% |
| Trade receivables | 40 | €161 | €1,700 | +€1,539 | +955% |
| Other amounts receivable | 41 | €6,724 | €0 | -€6,724 | -100% |
| Cash at bank and in hand | 54/58 | €8,890 | €6,545 | -€2,345 | -26.4% |
| Deferred charges and accrued income | 490/1 | €2,557 | €0 | -€2,557 | -100% |
| Total equity and liabilities | 10/49 | €217,161 | €176,272 | -€40,889 | -18.8% |
| Equity | 10/15 | -€9,430 | -€60,476 | -€51,046 | -541% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,430 | -€115,476 | -€51,046 | -79.2% |
| Amounts payable | 17/49 | €226,591 | €236,748 | +€10,156 | +4.5% |
| Amounts payable within one year | 42/48 | €226,591 | €236,748 | +€10,156 | +4.5% |
| Trade debts | 44 | €950 | €2,771 | +€1,821 | +192% |
| Suppliers | 440/4 | €950 | €2,771 | +€1,821 | +192% |
| Taxes, remuneration and social security | 45 | €5,400 | €9,334 | +€3,935 | +72.9% |
| Taxes | 450/3 | €228 | €4,437 | +€4,209 | +1,849% |
| Remuneration and social security | 454/9 | €5,172 | €4,897 | -€275 | -5.3% |
| Other amounts payable | 47/48 | €220,242 | €224,642 | +€4,400 | +2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €105,882 | €52,538 | -€53,345 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,391 | €26,326 | -€65 | -0.2% |
| Other operating charges | 640/8 | €5,029 | €3,359 | -€1,670 | -33.2% |
| Non-recurring operating charges | 66A | €5,401 | €0 | -€5,401 | -100% |
| Gross operating margin | 9900 | €132,779 | €31,751 | -€101,028 | -76.1% |
| Operating profit (loss) | 9901 | -€9,925 | -€50,472 | -€40,547 | -409% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €283 | €235 | -€47 | -16.8% |
| Recurring financial charges | 65 | €283 | €235 | -€47 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,208 | -€50,707 | -€40,499 | -397% |
| Income taxes | 67/77 | €228 | €339 | +€111 | +48.9% |
| Profit (loss) for the period | 9904 | -€10,435 | -€51,046 | -€40,610 | -389% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,435 | -€51,046 | -€40,610 | -389% |
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 25 October 2026 via checked.be.