CORDONS - VAN MINSEL: what changed
CORDONS - VAN MINSEL
Largest movements
- Cash +€323,678
up €323,678 (+1,095%), from €29,563 to €353,241
mainly Investment in fixed assets (net) (+€190,590) and Net result for the year (+€80,666)
- Tangible fixed assets -€208,676
down €208,676 (-34.3%), from €608,536 to €399,860
of which Land and buildings: -€215,595
- Stocks and contracts -€28,357
down €28,357 (-43.8%), from €64,791 to €36,434
- Receivables within one year -€8,182
down €8,182 (-24.7%), from €33,111 to €24,929
of which Trade receivables: -€11,368
- Profit (loss) carried forward +€80,666
up €80,666 (+21.8%), from -€370,149 to -€289,484
- Other debts +€19,741
up €19,741 (+3.2%), from €618,147 to €637,888
- Tax, wage and social debts -€17,403
down €17,403 (-95.2%), from €18,288 to €885
- Gross operating margin +€137,555
up €137,555, from -€36,361 to €101,194
- Financial charges -€44,798
down €44,798 (-99.2%), from €45,158 to €360
- Depreciation -€9,047
down €9,047 (-33.3%), from €27,133 to €18,086
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €736,085 | €814,514 | +€78,428 | +10.7% |
| Fixed assets | 21/28 | €608,585 | €399,909 | -€208,676 | -34.3% |
| Tangible fixed assets | 22/27 | €608,536 | €399,860 | -€208,676 | -34.3% |
| Land and buildings | 22 | €608,455 | €392,860 | -€215,595 | -35.4% |
| Furniture and vehicles | 24 | €81 | €7,000 | +€6,919 | +8,573% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €127,500 | €414,604 | +€287,104 | +225% |
| Stocks and contracts in progress | 3 | €64,791 | €36,434 | -€28,357 | -43.8% |
| Stocks | 30/36 | €64,791 | €36,434 | -€28,357 | -43.8% |
| Amounts receivable within one year | 40/41 | €33,111 | €24,929 | -€8,182 | -24.7% |
| Trade receivables | 40 | €13,211 | €1,843 | -€11,368 | -86.1% |
| Other amounts receivable | 41 | €19,901 | €23,087 | +€3,186 | +16.0% |
| Cash at bank and in hand | 54/58 | €29,563 | €353,241 | +€323,678 | +1,095% |
| Deferred charges and accrued income | 490/1 | €35 | - | -€35 | |
| Total equity and liabilities | 10/49 | €736,085 | €814,514 | +€78,428 | +10.7% |
| Equity | 10/15 | €92,263 | €172,929 | +€80,666 | +87.4% |
| Contributions | 10/11 | €252,600 | €252,600 | = | 0.0% |
| Reserves | 13 | €209,813 | €209,813 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,189 | €124,189 | = | 0.0% |
| Distributable reserves | 133 | €85,623 | €85,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€370,149 | -€289,484 | +€80,666 | +21.8% |
| Amounts payable | 17/49 | €643,822 | €641,585 | -€2,237 | -0.3% |
| Amounts payable within one year | 42/48 | €643,822 | €641,585 | -€2,237 | -0.3% |
| Trade debts | 44 | €7,387 | €2,812 | -€4,575 | -61.9% |
| Suppliers | 440/4 | €7,387 | €2,812 | -€4,575 | -61.9% |
| Taxes, remuneration and social security | 45 | €18,288 | €885 | -€17,403 | -95.2% |
| Taxes | 450/3 | €18,288 | €885 | -€17,403 | -95.2% |
| Other amounts payable | 47/48 | €618,147 | €637,888 | +€19,741 | +3.2% |
| Non-recurring operating income | 76A | - | €157,014 | +€157,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,133 | €18,086 | -€9,047 | -33.3% |
| Other operating charges | 640/8 | €3,435 | €3,247 | -€188 | -5.5% |
| Gross operating margin | 9900 | -€36,361 | €101,194 | +€137,555 | |
| Operating profit (loss) | 9901 | -€66,928 | €79,861 | +€146,789 | |
| Financial income | 75/76B | €1,088 | €1,167 | +€79 | +7.2% |
| Recurring financial income | 75 | €1,088 | €1,167 | +€79 | +7.2% |
| Financial charges | 65/66B | €45,158 | €360 | -€44,798 | -99.2% |
| Recurring financial charges | 65 | €45,158 | €360 | -€44,798 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | -€110,998 | €80,668 | +€191,666 | |
| Income taxes | 67/77 | €2 | €2 | -€0 | -1.8% |
| Profit (loss) for the period | 9904 | -€111,000 | €80,666 | +€191,666 | |
| Profit (loss) for the period to be appropriated | 9905 | -€111,000 | €80,666 | +€191,666 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.