COREMANS: 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.
COREMANS
Largest movements
- Tangible fixed assets -€380,682
down €380,682 (-19.0%), from €2.0m to €1.6m
of which Land and buildings: -€357,698
- Cash -€119,548
down €119,548 (-37.8%), from €316,193 to €196,645
mainly Contributions, distributions and other (-€540,000) and Tax, wage and social debts (-€66,882)
- Contributions -€540,000
down €540,000 (-89.8%), from €601,500 to €61,500
- Reserves +€135,998
up €135,998 (+11.1%), from €1.2m to €1.4m
of which Distributable reserves: +€171,482
- Tax, wage and social debts -€66,882
down €66,882 (-98.7%), from €67,786 to €904
- Gross operating margin -€183,560
down €183,560 (-38.1%), from €482,059 to €298,499
- Taxes +€13,118
up €13,118 (+19.4%), from €67,786 to €80,904
- Depreciation -€7,268
down €7,268 (-8.8%), from €82,438 to €75,170
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 | €2,328,016 | €1,824,037 | -€503,979 | -21.6% |
| Fixed assets | 21/28 | €2,005,897 | €1,625,216 | -€380,682 | -19.0% |
| Tangible fixed assets | 22/27 | €2,005,897 | €1,625,216 | -€380,682 | -19.0% |
| Land and buildings | 22 | €1,979,641 | €1,621,943 | -€357,698 | -18.1% |
| Plant, machinery and equipment | 23 | €26,256 | €3,273 | -€22,983 | -87.5% |
| Current assets | 29/58 | €322,119 | €198,821 | -€123,298 | -38.3% |
| Amounts receivable within one year | 40/41 | €935 | - | -€935 | |
| Trade receivables | 40 | €935 | - | -€935 | |
| Cash at bank and in hand | 54/58 | €316,193 | €196,645 | -€119,548 | -37.8% |
| Deferred charges and accrued income | 490/1 | €4,991 | €2,177 | -€2,814 | -56.4% |
| Total equity and liabilities | 10/49 | €2,328,016 | €1,824,037 | -€503,979 | -21.6% |
| Equity | 10/15 | €1,827,513 | €1,423,511 | -€404,002 | -22.1% |
| Contributions | 10/11 | €601,500 | €61,500 | -€540,000 | -89.8% |
| Capital | 10 | €601,500 | €61,500 | -€540,000 | -89.8% |
| Issued capital | 100 | €601,500 | €61,500 | -€540,000 | -89.8% |
| Reserves | 13 | €1,226,013 | €1,362,011 | +€135,998 | +11.1% |
| Non-distributable reserves | 130/1 | €60,150 | €60,150 | = | 0.0% |
| Legal reserve | 130 | €60,150 | €60,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €631,285 | €595,801 | -€35,484 | -5.6% |
| Distributable reserves | 133 | €534,578 | €706,060 | +€171,482 | +32.1% |
| Provisions and deferred taxes | 16 | €210,428 | €198,600 | -€11,828 | -5.6% |
| Deferred taxes | 168 | €210,428 | €198,600 | -€11,828 | -5.6% |
| Amounts payable | 17/49 | €290,075 | €201,925 | -€88,149 | -30.4% |
| Amounts payable after more than one year | 17 | €197,471 | €175,582 | -€21,889 | -11.1% |
| Financial debts | 170/4 | €197,471 | €175,582 | -€21,889 | -11.1% |
| Amounts payable within one year | 42/48 | €92,604 | €26,343 | -€66,261 | -71.6% |
| Current portion of amounts payable after more than one year | 42 | €20,953 | €21,889 | +€935 | +4.5% |
| Trade debts | 44 | €671 | €357 | -€314 | -46.8% |
| Suppliers | 440/4 | €671 | €357 | -€314 | -46.8% |
| Taxes, remuneration and social security | 45 | €67,786 | €904 | -€66,882 | -98.7% |
| Taxes | 450/3 | €67,786 | €904 | -€66,882 | -98.7% |
| Other amounts payable | 47/48 | €3,194 | €3,194 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,438 | €75,170 | -€7,268 | -8.8% |
| Other operating charges | 640/8 | €11,203 | €8,947 | -€2,256 | -20.1% |
| Gross operating margin | 9900 | €482,059 | €298,499 | -€183,560 | -38.1% |
| Operating profit (loss) | 9901 | €388,418 | €214,382 | -€174,036 | -44.8% |
| Financial charges | 65/66B | €10,228 | €9,309 | -€919 | -9.0% |
| Recurring financial charges | 65 | €10,228 | €9,309 | -€919 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €378,191 | €205,074 | -€173,117 | -45.8% |
| Transfer from deferred taxes | 780 | €11,828 | €11,828 | = | 0.0% |
| Income taxes | 67/77 | €67,786 | €80,904 | +€13,118 | +19.4% |
| Profit (loss) for the period | 9904 | €322,233 | €135,998 | -€186,235 | -57.8% |
| Transfer from tax-exempt reserves | 789 | €35,484 | €35,484 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €357,717 | €171,482 | -€186,235 | -52.1% |
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 29 September 2026 via checked.be.