CORE-CONSULT: 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.
CORE-CONSULT
Largest movements
- Cash -€87,403
down €87,403 (-54.5%), from €160,301 to €72,898
mainly Investment in fixed assets (net) (-€65,603) and Receivables within one year (-€41,367)
- Intangible fixed assets +€62,355
new in 2025: €62,355
- Receivables within one year +€41,367
up €41,367 (+93.4%), from €44,291 to €85,657
of which Trade receivables: +€41,453
- Tangible fixed assets -€24,017
down €24,017 (-6.0%), from €398,980 to €374,963
of which Land and buildings: -€23,873
- Reserves -€33,306
down €33,306 (-10.2%), from €325,423 to €292,117
of which Distributable reserves: -€33,306
- Trade debts +€26,178
up €26,178 (+136.2%), from €19,222 to €45,400
- Gross operating margin -€16,046
down €16,046 (-73.9%), from €21,703 to €5,657
- Depreciation -€3,809
down €3,809 (-12.1%), from €31,428 to €27,619
- Financial income -€3,038
down €3,038 (-74.0%), from €4,104 to €1,066
- Financial charges +€2,705
up €2,705 (+487.4%), from €555 to €3,260
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 | €605,886 | €599,706 | -€6,179 | -1.0% |
| Fixed assets | 21/28 | €399,364 | €437,349 | +€37,984 | +9.5% |
| Intangible fixed assets | 21 | - | €62,355 | +€62,355 | |
| Tangible fixed assets | 22/27 | €398,980 | €374,963 | -€24,017 | -6.0% |
| Land and buildings | 22 | €391,460 | €367,587 | -€23,873 | -6.1% |
| Plant, machinery and equipment | 23 | - | €2,952 | +€2,952 | |
| Furniture and vehicles | 24 | €7,520 | €4,423 | -€3,097 | -41.2% |
| Financial fixed assets | 28 | €384 | €30 | -€354 | -92.2% |
| Current assets | 29/58 | €206,521 | €162,358 | -€44,164 | -21.4% |
| Amounts receivable within one year | 40/41 | €44,291 | €85,657 | +€41,367 | +93.4% |
| Trade receivables | 40 | €23,036 | €64,489 | +€41,453 | +179.9% |
| Other amounts receivable | 41 | €21,254 | €21,168 | -€87 | -0.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €160,301 | €72,898 | -€87,403 | -54.5% |
| Deferred charges and accrued income | 490/1 | €1,929 | €3,802 | +€1,873 | +97.1% |
| Total equity and liabilities | 10/49 | €605,886 | €599,706 | -€6,179 | -1.0% |
| Equity | 10/15 | €564,723 | €531,417 | -€33,306 | -5.9% |
| Contributions | 10/11 | €239,300 | €239,300 | = | 0.0% |
| Capital | 10 | €239,300 | €239,300 | = | 0.0% |
| Issued capital | 100 | €239,300 | €239,300 | = | 0.0% |
| Reserves | 13 | €325,423 | €292,117 | -€33,306 | -10.2% |
| Non-distributable reserves | 130/1 | €23,930 | €23,930 | = | 0.0% |
| Legal reserve | 130 | €23,930 | €23,930 | = | 0.0% |
| Distributable reserves | 133 | €301,493 | €268,187 | -€33,306 | -11.0% |
| Amounts payable | 17/49 | €41,163 | €68,289 | +€27,126 | +65.9% |
| Amounts payable within one year | 42/48 | €41,163 | €67,224 | +€26,061 | +63.3% |
| Financial debts | 43 | €0 | €844 | +€844 | |
| Credit institutions | 430/8 | €0 | €844 | +€844 | |
| Trade debts | 44 | €19,222 | €45,400 | +€26,178 | +136.2% |
| Suppliers | 440/4 | €19,222 | €45,400 | +€26,178 | +136.2% |
| Taxes, remuneration and social security | 45 | €2,844 | €7,242 | +€4,399 | +154.7% |
| Taxes | 450/3 | €2,844 | €7,242 | +€4,399 | +154.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,097 | €13,737 | -€5,360 | -28.1% |
| Accrued charges and deferred income | 492/3 | - | €1,065 | +€1,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,428 | €27,619 | -€3,809 | -12.1% |
| Other operating charges | 640/8 | €8,616 | €8,793 | +€177 | +2.1% |
| Gross operating margin | 9900 | €21,703 | €5,657 | -€16,046 | -73.9% |
| Operating profit (loss) | 9901 | -€18,340 | -€30,755 | -€12,415 | -67.7% |
| Financial income | 75/76B | €4,104 | €1,066 | -€3,038 | -74.0% |
| Recurring financial income | 75 | €4,104 | €1,066 | -€3,038 | -74.0% |
| Financial charges | 65/66B | €555 | €3,260 | +€2,705 | +487.4% |
| Recurring financial charges | 65 | €555 | €3,260 | +€2,705 | +487.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,791 | -€32,949 | -€18,158 | -122.8% |
| Income taxes | 67/77 | €229 | €356 | +€127 | +55.2% |
| Profit (loss) for the period | 9904 | -€15,021 | -€33,306 | -€18,285 | -121.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,021 | -€33,306 | -€18,285 | -121.7% |
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 6 October 2026 via checked.be.