COREMAT: 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.
COREMAT
Largest movements
- Receivables within one year +€46,836
up €46,836 (+79.6%), from €58,841 to €105,677
- Cash -€36,606
down €36,606 (-12.2%), from €299,518 to €262,912
mainly Tax, wage and social debts (-€51,207) and Receivables within one year (-€46,836)
- Tax, wage and social debts -€51,207
down €51,207 (-100.0%), from €51,207 to €0
- Profit (loss) carried forward +€41,065
up €41,065 (+2.6%), from €1.6m to €1.6m
- Reserves +€40,000
up €40,000 (+32.4%), from €123,334 to €163,334
of which Distributable reserves: +€40,000
- Trade debts -€22,772
down €22,772 (-70.0%), from €32,526 to €9,754
- Purchases and services -€173,187
no longer reported in 2025 (was €173,187)
- Gross operating margin +€141,433
up €141,433, from -€31,287 to €110,146
- Write-downs -€20,912
no longer reported in 2025 (was €20,912)
- Taxes +€13,997
up €13,997 (+1492.7%), from €938 to €14,935
- Financial income -€10,575
down €10,575 (-68.3%), from €15,490 to €4,915
of which Financial income: -€8,014
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 | €1,958,122 | €1,976,110 | +€17,987 | +0.9% |
| Fixed assets | 21/28 | €1,294,464 | €1,294,464 | = | 0.0% |
| Tangible fixed assets | 22/27 | €32,226 | €32,226 | = | 0.0% |
| Land and buildings | 22 | €32,226 | €32,226 | = | 0.0% |
| Financial fixed assets | 28 | €1,262,237 | €1,262,237 | = | 0.0% |
| Current assets | 29/58 | €663,659 | €681,646 | +€17,987 | +2.7% |
| Amounts receivable within one year | 40/41 | €58,841 | €105,677 | +€46,836 | +79.6% |
| Other amounts receivable | 41 | €58,841 | €105,677 | +€46,836 | +79.6% |
| Current investments | 50/53 | €302,096 | €312,558 | +€10,462 | +3.5% |
| Cash at bank and in hand | 54/58 | €299,518 | €262,912 | -€36,606 | -12.2% |
| Deferred charges and accrued income | 490/1 | €3,204 | €500 | -€2,704 | -84.4% |
| Total equity and liabilities | 10/49 | €1,958,122 | €1,976,110 | +€17,987 | +0.9% |
| Equity | 10/15 | €1,746,261 | €1,827,326 | +€81,065 | +4.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €123,334 | €163,334 | +€40,000 | +32.4% |
| Non-distributable reserves | 130/1 | €34,997 | €34,997 | = | 0.0% |
| Legal reserve | 130 | €34,997 | €34,997 | = | 0.0% |
| Tax-exempt reserves | 132 | €868 | €868 | = | 0.0% |
| Distributable reserves | 133 | €87,469 | €127,469 | +€40,000 | +45.7% |
| Profit (loss) carried forward | 14 | €1,560,954 | €1,602,019 | +€41,065 | +2.6% |
| Amounts payable | 17/49 | €211,861 | €148,784 | -€63,077 | -29.8% |
| Amounts payable within one year | 42/48 | €211,861 | €148,784 | -€63,077 | -29.8% |
| Trade debts | 44 | €32,526 | €9,754 | -€22,772 | -70.0% |
| Suppliers | 440/4 | €32,526 | €9,754 | -€22,772 | -70.0% |
| Taxes, remuneration and social security | 45 | €51,207 | €0 | -€51,207 | -100.0% |
| Taxes | 450/3 | €51,207 | €0 | -€51,207 | -100.0% |
| Other amounts payable | 47/48 | €128,128 | €139,030 | +€10,902 | +8.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €173,187 | - | -€173,187 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,912 | - | -€20,912 | |
| Other operating charges | 640/8 | €14,333 | €15,497 | +€1,164 | +8.1% |
| Gross operating margin | 9900 | -€31,287 | €110,146 | +€141,433 | |
| Operating profit (loss) | 9901 | -€66,532 | €94,649 | +€161,181 | |
| Financial income | 75/76B | €15,490 | €4,915 | -€10,575 | -68.3% |
| Recurring financial income | 75 | €12,930 | €4,915 | -€8,014 | -62.0% |
| Non-recurring financial income | 76B | €2,561 | - | -€2,561 | |
| Financial charges | 65/66B | €146 | €3,565 | +€3,419 | +2339.4% |
| Recurring financial charges | 65 | €146 | €3,565 | +€3,419 | +2339.4% |
| Profit (loss) for the period before taxes | 9903 | -€51,188 | €95,999 | +€147,187 | |
| Income taxes | 67/77 | €938 | €14,935 | +€13,997 | +1492.7% |
| Profit (loss) for the period | 9904 | -€52,125 | €81,065 | +€133,190 | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,125 | €81,065 | +€133,190 |
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 4 October 2026 via checked.be.