COREMAN: 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.
COREMAN
Largest movements
- Cash +€2.0m
up €2.0m (+234%), from €846,896 to €2.8m
mainly Current investments (+€1.5m) and Net result for the year (+€1.2m)
- Current investments -€1.5m
down €1.5m (-37.0%), from €4.1m to €2.6m
- Receivables within one year +€101,018
up €101,018 (+26,769%), from €377 to €101,395
of which Trade receivables: +€99,752
- Reserves +€1.2m
up €1.2m (+25.1%), from €4.8m to €6.0m
- Other debts -€566,634
down €566,634 (-46.5%), from €1.2m to €651,074
- Tax, wage and social debts -€245,666
down €245,666 (-69.4%), from €354,201 to €108,536
of which Taxes: -€249,666
- Accrued charges and deferred income +€106,843
up €106,843 (+50.8%), from €210,273 to €317,116
- Gross operating margin -€172,166
down €172,166 (-8.6%), from €2.0m to €1.8m
- Taxes -€69,621
down €69,621 (-10.5%), from €660,188 to €590,566
- Financial income -€48,445
down €48,445 (-27.4%), from €176,737 to €128,292
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 | €6,835,323 | €7,300,304 | +€464,981 | +6.8% |
| Fixed assets | 21/28 | €1,844,920 | €1,785,041 | -€59,880 | -3.2% |
| Tangible fixed assets | 22/27 | €1,844,355 | €1,784,476 | -€59,880 | -3.2% |
| Land and buildings | 22 | €1,664,585 | €1,644,765 | -€19,821 | -1.2% |
| Plant, machinery and equipment | 23 | €285 | €3,505 | +€3,219 | +1,129% |
| Furniture and vehicles | 24 | €179,485 | €136,206 | -€43,279 | -24.1% |
| Financial fixed assets | 28 | €565 | €565 | = | 0.0% |
| Current assets | 29/58 | €4,990,403 | €5,515,263 | +€524,861 | +10.5% |
| Amounts receivable within one year | 40/41 | €377 | €101,395 | +€101,018 | +26,769% |
| Trade receivables | 40 | - | €99,752 | +€99,752 | |
| Other amounts receivable | 41 | €377 | €1,643 | +€1,266 | +335% |
| Current investments | 50/53 | €4,082,431 | €2,572,121 | -€1.5m | -37.0% |
| Cash at bank and in hand | 54/58 | €846,896 | €2,829,818 | +€2.0m | +234% |
| Deferred charges and accrued income | 490/1 | €60,699 | €11,929 | -€48,769 | -80.3% |
| Total equity and liabilities | 10/49 | €6,835,323 | €7,300,304 | +€464,981 | +6.8% |
| Equity | 10/15 | €4,950,507 | €6,162,086 | +€1.2m | +24.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,820,105 | €6,031,684 | +€1.2m | +25.1% |
| Distributable reserves | 133 | €4,820,105 | €6,031,684 | +€1.2m | +25.1% |
| Profit (loss) carried forward | 14 | €124,202 | €124,202 | = | 0.0% |
| Amounts payable | 17/49 | €1,884,816 | €1,138,218 | -€746,598 | -39.6% |
| Amounts payable after more than one year | 17 | €52,180 | €8,808 | -€43,372 | -83.1% |
| Financial debts | 170/4 | €52,180 | €8,808 | -€43,372 | -83.1% |
| Amounts payable within one year | 42/48 | €1,622,363 | €812,294 | -€810,069 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €42,949 | €43,372 | +€423 | +1.0% |
| Trade debts | 44 | €7,505 | €9,313 | +€1,808 | +24.1% |
| Suppliers | 440/4 | €7,505 | €9,313 | +€1,808 | +24.1% |
| Taxes, remuneration and social security | 45 | €354,201 | €108,536 | -€245,666 | -69.4% |
| Taxes | 450/3 | €354,201 | €104,536 | -€249,666 | -70.5% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €1,217,707 | €651,074 | -€566,634 | -46.5% |
| Accrued charges and deferred income | 492/3 | €210,273 | €317,116 | +€106,843 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,982 | €111,429 | -€18,553 | -14.3% |
| Other operating charges | 640/8 | €13,125 | €10,007 | -€3,119 | -23.8% |
| Gross operating margin | 9900 | €2,001,084 | €1,828,919 | -€172,166 | -8.6% |
| Operating profit (loss) | 9901 | €1,857,977 | €1,707,483 | -€150,495 | -8.1% |
| Financial income | 75/76B | €176,737 | €128,292 | -€48,445 | -27.4% |
| Recurring financial income | 75 | €176,737 | €128,292 | -€48,445 | -27.4% |
| Financial charges | 65/66B | €17,597 | €33,630 | +€16,034 | +91.1% |
| Recurring financial charges | 65 | €17,597 | €33,630 | +€16,034 | +91.1% |
| Profit (loss) for the period before taxes | 9903 | €2,017,118 | €1,802,145 | -€214,973 | -10.7% |
| Income taxes | 67/77 | €660,188 | €590,566 | -€69,621 | -10.5% |
| Profit (loss) for the period | 9904 | €1,356,930 | €1,211,579 | -€145,352 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,356,930 | €1,211,579 | -€145,352 | -10.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.