CORDON ELECTRONICS BELGIUM: 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.
CORDON ELECTRONICS BELGIUM
Largest movements
- Receivables within one year -€24,334
down €24,334 (-13.9%), from €175,640 to €151,306
of which Trade receivables: -€25,177
- Cash -€5,605
down €5,605 (-10.1%), from €55,384 to €49,780
mainly Net result for the year (-€202,212) and Tax, wage and social debts (-€17,913)
- Deferred charges and accrued income +€5,529
up €5,529 (+321%), from €1,723 to €7,252
- Profit (loss) carried forward -€202,212
down €202,212 (-363%), from -€55,748 to -€257,960
- Trade debts +€194,110
up €194,110 (+111%), from €175,637 to €369,747
- Tax, wage and social debts -€17,913
down €17,913 (-14.3%), from €125,110 to €107,198
of which Remuneration and social security: -€9,146
- Staff costs +€90,933
up €90,933 (+19.3%), from €470,951 to €561,884
- Gross operating margin -€50,398
down €50,398 (-12.1%), from €415,976 to €365,578
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 | €246,000 | €219,985 | -€26,015 | -10.6% |
| Fixed assets | 21/28 | €13,253 | €11,647 | -€1,605 | -12.1% |
| Tangible fixed assets | 22/27 | €4,028 | €2,422 | -€1,605 | -39.9% |
| Furniture and vehicles | 24 | €4,028 | €2,422 | -€1,605 | -39.9% |
| Financial fixed assets | 28 | €9,225 | €9,225 | = | 0.0% |
| Current assets | 29/58 | €232,747 | €208,337 | -€24,410 | -10.5% |
| Amounts receivable within one year | 40/41 | €175,640 | €151,306 | -€24,334 | -13.9% |
| Trade receivables | 40 | €144,777 | €119,599 | -€25,177 | -17.4% |
| Other amounts receivable | 41 | €30,863 | €31,707 | +€844 | +2.7% |
| Cash at bank and in hand | 54/58 | €55,384 | €49,780 | -€5,605 | -10.1% |
| Deferred charges and accrued income | 490/1 | €1,723 | €7,252 | +€5,529 | +321% |
| Total equity and liabilities | 10/49 | €246,000 | €219,985 | -€26,015 | -10.6% |
| Equity | 10/15 | -€54,748 | -€256,960 | -€202,212 | -369% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,748 | -€257,960 | -€202,212 | -363% |
| Amounts payable | 17/49 | €300,748 | €476,945 | +€176,197 | +58.6% |
| Amounts payable within one year | 42/48 | €300,748 | €476,945 | +€176,197 | +58.6% |
| Trade debts | 44 | €175,637 | €369,747 | +€194,110 | +111% |
| Suppliers | 440/4 | €175,637 | €369,747 | +€194,110 | +111% |
| Taxes, remuneration and social security | 45 | €125,110 | €107,198 | -€17,913 | -14.3% |
| Taxes | 450/3 | €20,015 | €11,249 | -€8,767 | -43.8% |
| Remuneration and social security | 454/9 | €105,095 | €95,949 | -€9,146 | -8.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €470,951 | €561,884 | +€90,933 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,535 | €1,605 | +€70 | +4.6% |
| Other operating charges | 640/8 | €3,711 | €4,326 | +€615 | +16.6% |
| Gross operating margin | 9900 | €415,976 | €365,578 | -€50,398 | -12.1% |
| Operating profit (loss) | 9901 | -€60,221 | -€202,237 | -€142,016 | -236% |
| Financial income | 75/76B | €0 | €1,014 | +€1,014 | |
| Recurring financial income | 75 | €0 | €1,014 | +€1,014 | |
| Financial charges | 65/66B | €2,787 | €989 | -€1,798 | -64.5% |
| Recurring financial charges | 65 | €2,787 | €989 | -€1,798 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | -€63,008 | -€202,212 | -€139,204 | -221% |
| Income taxes | 67/77 | €8 | €0 | -€8 | -100% |
| Profit (loss) for the period | 9904 | -€63,017 | -€202,212 | -€139,196 | -221% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,017 | -€202,212 | -€139,196 | -221% |
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 13 October 2026 via checked.be.