Corendon Belgium: 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.
Corendon Belgium
Largest movements
- Cash -€4.5m
down €4.5m (-83.9%), from €5.4m to €864,697
mainly Receivables within one year (-€4.2m) and Contributions, distributions and other (-€1.0m)
- Receivables within one year +€4.2m
up €4.2m (+5,328%), from €78,888 to €4.3m
of which Other amounts receivable: +€4.3m
- Tangible fixed assets +€120,991
up €120,991 (+97.8%), from €123,691 to €244,682
of which Land and buildings: +€96,676
- Reserves -€982,852
down €982,852 (-59.5%), from €1.7m to €669,347
of which Distributable reserves: -€721,238
- Other debts +€800,178
up €800,178 (+400%), from €199,822 to €1.0m
- Turnover +€1.4m
new in 2025: €1.4m
- Purchases and services +€165,117
new in 2025: €165,117
- Gross operating margin +€107,152
up €107,152 (+9.2%), from €1.2m to €1.3m
- Staff costs +€77,327
up €77,327 (+6.9%), from €1.1m to €1.2m
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 | €5,586,998 | €5,391,521 | -€195,477 | -3.5% |
| Fixed assets | 21/28 | €123,691 | €244,682 | +€120,991 | +97.8% |
| Tangible fixed assets | 22/27 | €123,691 | €244,682 | +€120,991 | +97.8% |
| Land and buildings | 22 | €123,691 | €220,367 | +€96,676 | +78.2% |
| Furniture and vehicles | 24 | - | €24,315 | +€24,315 | |
| Current assets | 29/58 | €5,463,307 | €5,146,838 | -€316,468 | -5.8% |
| Amounts receivable within one year | 40/41 | €78,888 | €4,282,141 | +€4.2m | +5,328% |
| Trade receivables | 40 | €70,000 | - | -€70,000 | |
| Other amounts receivable | 41 | €8,888 | €4,282,141 | +€4.3m | +48,076% |
| Cash at bank and in hand | 54/58 | €5,384,418 | €864,697 | -€4.5m | -83.9% |
| Total equity and liabilities | 10/49 | €5,586,998 | €5,391,521 | -€195,477 | -3.5% |
| Equity | 10/15 | €5,127,872 | €4,145,020 | -€982,852 | -19.2% |
| Contributions | 10/11 | €3,305,987 | €3,305,987 | = | 0.0% |
| Revaluation surpluses | 12 | €169,686 | €169,686 | = | 0.0% |
| Reserves | 13 | €1,652,199 | €669,347 | -€982,852 | -59.5% |
| Non-distributable reserves | 130/1 | €261,614 | - | -€261,614 | |
| Reserves not available under the articles | 1311 | €261,614 | - | -€261,614 | |
| Distributable reserves | 133 | €1,390,585 | €669,347 | -€721,238 | -51.9% |
| Amounts payable | 17/49 | €459,126 | €1,246,501 | +€787,375 | +171% |
| Amounts payable within one year | 42/48 | €459,126 | €1,246,501 | +€787,375 | +171% |
| Trade debts | 44 | €29,462 | €30,354 | +€892 | +3.0% |
| Suppliers | 440/4 | €29,462 | €30,354 | +€892 | +3.0% |
| Taxes, remuneration and social security | 45 | €229,842 | €216,147 | -€13,695 | -6.0% |
| Taxes | 450/3 | €19,694 | €26,697 | +€7,003 | +35.6% |
| Remuneration and social security | 454/9 | €210,148 | €189,450 | -€20,698 | -9.8% |
| Other amounts payable | 47/48 | €199,822 | €1,000,000 | +€800,178 | +400% |
| Turnover | 70 | - | €1,440,000 | +€1.4m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €165,117 | +€165,117 | |
| Remuneration, social security and pensions | 62 | €1,128,023 | €1,205,349 | +€77,327 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,920 | €17,069 | +€6,149 | +56.3% |
| Other operating charges | 640/8 | €3,117 | €3,670 | +€552 | +17.7% |
| Gross operating margin | 9900 | €1,167,731 | €1,274,883 | +€107,152 | +9.2% |
| Operating profit (loss) | 9901 | €25,670 | €48,795 | +€23,125 | +90.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €5,440 | €4,951 | -€489 | -9.0% |
| Recurring financial charges | 65 | €5,440 | €4,951 | -€489 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €20,231 | €43,845 | +€23,614 | +117% |
| Income taxes | 67/77 | €19,694 | €26,697 | +€7,003 | +35.6% |
| Profit (loss) for the period | 9904 | €536 | €17,148 | +€16,611 | +3,096% |
| Profit (loss) for the period to be appropriated | 9905 | €536 | €17,148 | +€16,611 | +3,096% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.