CORDOS: 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.
CORDOS
Largest movements
- Intangible fixed assets +€147,439
up €147,439 (+18.5%), from €796,479 to €943,917
- Receivables within one year -€123,689
down €123,689 (-70.4%), from €175,817 to €52,127
of which Trade receivables: -€138,490
- Cash +€42,243
up €42,243 (+481%), from €8,779 to €51,022
mainly Other debts (+€334,692) and Net result for the year (+€312,962)
- Other debts +€334,692
new in 2025: €334,692
- Profit (loss) carried forward -€243,038
down €243,038 (-43.7%), from €556,391 to €313,353
- Trade debts -€36,189
down €36,189 (-12.3%), from €295,203 to €259,013
- Gross operating margin +€126,338
up €126,338 (+31.4%), from €402,253 to €528,591
- Taxes +€28,246
up €28,246 (+34.4%), from €82,009 to €110,254
- Depreciation +€21,939
up €21,939 (+26.6%), from €82,427 to €104,366
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 | €1,001,402 | €1,065,440 | +€64,038 | +6.4% |
| Fixed assets | 21/28 | €809,025 | €953,838 | +€144,812 | +17.9% |
| Intangible fixed assets | 21 | €796,479 | €943,917 | +€147,439 | +18.5% |
| Tangible fixed assets | 22/27 | €12,547 | €9,920 | -€2,626 | -20.9% |
| Furniture and vehicles | 24 | €3,688 | €1,811 | -€1,877 | -50.9% |
| Other tangible fixed assets | 26 | €8,858 | €8,109 | -€749 | -8.5% |
| Current assets | 29/58 | €192,377 | €111,603 | -€80,774 | -42.0% |
| Amounts receivable within one year | 40/41 | €175,817 | €52,127 | -€123,689 | -70.4% |
| Trade receivables | 40 | €163,572 | €25,082 | -€138,490 | -84.7% |
| Other amounts receivable | 41 | €12,244 | €27,046 | +€14,801 | +121% |
| Cash at bank and in hand | 54/58 | €8,779 | €51,022 | +€42,243 | +481% |
| Deferred charges and accrued income | 490/1 | €7,782 | €8,453 | +€672 | +8.6% |
| Total equity and liabilities | 10/49 | €1,001,402 | €1,065,440 | +€64,038 | +6.4% |
| Equity | 10/15 | €617,891 | €374,853 | -€243,038 | -39.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €556,391 | €313,353 | -€243,038 | -43.7% |
| Amounts payable | 17/49 | €383,511 | €690,588 | +€307,076 | +80.1% |
| Amounts payable within one year | 42/48 | €367,511 | €676,259 | +€308,748 | +84.0% |
| Trade debts | 44 | €295,203 | €259,013 | -€36,189 | -12.3% |
| Suppliers | 440/4 | €295,203 | €259,013 | -€36,189 | -12.3% |
| Taxes, remuneration and social security | 45 | €72,309 | €82,554 | +€10,246 | +14.2% |
| Taxes | 450/3 | €67,009 | €77,254 | +€10,246 | +15.3% |
| Remuneration and social security | 454/9 | €5,300 | €5,300 | = | 0.0% |
| Other amounts payable | 47/48 | - | €334,692 | +€334,692 | |
| Accrued charges and deferred income | 492/3 | €16,000 | €14,328 | -€1,672 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,427 | €104,366 | +€21,939 | +26.6% |
| Other operating charges | 640/8 | €3,020 | €2,322 | -€698 | -23.1% |
| Gross operating margin | 9900 | €402,253 | €528,591 | +€126,338 | +31.4% |
| Operating profit (loss) | 9901 | €316,807 | €421,903 | +€105,097 | +33.2% |
| Financial income | 75/76B | €890 | €1,571 | +€682 | +76.6% |
| Recurring financial income | 75 | €890 | €1,571 | +€682 | +76.6% |
| Financial charges | 65/66B | €577 | €259 | -€318 | -55.1% |
| Recurring financial charges | 65 | €577 | €259 | -€318 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | €317,119 | €423,216 | +€106,097 | +33.5% |
| Income taxes | 67/77 | €82,009 | €110,254 | +€28,246 | +34.4% |
| Profit (loss) for the period | 9904 | €235,110 | €312,962 | +€77,851 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €235,110 | €312,962 | +€77,851 | +33.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.