Cores Industries: 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.
Cores Industries
Largest movements
- Stocks and contracts -€3.5m
down €3.5m (-73.9%), from €4.7m to €1.2m
- Receivables within one year -€2.2m
down €2.2m (-92.1%), from €2.4m to €188,828
of which Trade receivables: -€2.1m
- Financial fixed assets +€2.1m
new in 2025: €2.1m
- Cash +€175,484
up €175,484 (+582%), from €30,150 to €205,634
mainly Stocks and contracts (+€3.5m) and Receivables within one year (+€2.2m)
- Debts after one year -€5.3m
no longer reported in 2025 (was €5.3m)
- Tax, wage and social debts +€1.3m
up €1.3m (+445%), from €284,681 to €1.6m
- Profit (loss) carried forward +€971,208
up €971,208 (+130%), from €748,744 to €1.7m
- Trade debts -€342,534
down €342,534 (-59.0%), from €580,541 to €238,007
- Gross operating margin +€330,349
up €330,349 (+30.9%), from €1.1m to €1.4m
- Taxes +€79,770
up €79,770 (+29.1%), from €274,349 to €354,119
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 | €7,134,916 | €3,754,747 | -€3.4m | -47.4% |
| Fixed assets | 21/28 | - | €2,125,000 | +€2.1m | |
| Financial fixed assets | 28 | - | €2,125,000 | +€2.1m | |
| Current assets | 29/58 | €7,134,916 | €1,629,747 | -€5.5m | -77.2% |
| Stocks and contracts in progress | 3 | €4,709,826 | €1,230,948 | -€3.5m | -73.9% |
| Stocks | 30/36 | €4,709,826 | €1,230,948 | -€3.5m | -73.9% |
| Amounts receivable within one year | 40/41 | €2,386,265 | €188,828 | -€2.2m | -92.1% |
| Trade receivables | 40 | €2,287,115 | €188,828 | -€2.1m | -91.7% |
| Other amounts receivable | 41 | €99,150 | - | -€99,150 | |
| Cash at bank and in hand | 54/58 | €30,150 | €205,634 | +€175,484 | +582% |
| Deferred charges and accrued income | 490/1 | €8,675 | €4,337 | -€4,338 | -50.0% |
| Total equity and liabilities | 10/49 | €7,134,916 | €3,754,747 | -€3.4m | -47.4% |
| Equity | 10/15 | €885,034 | €1,856,242 | +€971,208 | +110% |
| Contributions | 10/11 | €123,900 | €123,900 | = | 0.0% |
| Capital | 10 | €123,900 | €123,900 | = | 0.0% |
| Issued capital | 100 | €123,900 | €123,900 | = | 0.0% |
| Reserves | 13 | €12,390 | €12,390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,390 | €12,390 | = | 0.0% |
| Legal reserve | 130 | €12,390 | €12,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | €748,744 | €1,719,952 | +€971,208 | +130% |
| Amounts payable | 17/49 | €6,249,882 | €1,898,505 | -€4.4m | -69.6% |
| Amounts payable after more than one year | 17 | €5,300,181 | - | -€5.3m | |
| Financial debts | 170/4 | €5,300,181 | - | -€5.3m | |
| Amounts payable within one year | 42/48 | €890,222 | €1,830,000 | +€939,778 | +106% |
| Trade debts | 44 | €580,541 | €238,007 | -€342,534 | -59.0% |
| Suppliers | 440/4 | €580,541 | €238,007 | -€342,534 | -59.0% |
| Advances received on contracts in progress | 46 | - | €18,199 | +€18,199 | |
| Taxes, remuneration and social security | 45 | €284,681 | €1,551,897 | +€1.3m | +445% |
| Taxes | 450/3 | €284,681 | €1,551,897 | +€1.3m | +445% |
| Other amounts payable | 47/48 | €25,000 | €21,897 | -€3,104 | -12.4% |
| Accrued charges and deferred income | 492/3 | €59,479 | €68,505 | +€9,026 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €735 | - | -€735 | |
| Other operating charges | 640/8 | €640 | €1,206 | +€566 | +88.5% |
| Gross operating margin | 9900 | €1,067,748 | €1,398,097 | +€330,349 | +30.9% |
| Operating profit (loss) | 9901 | €1,066,373 | €1,396,891 | +€330,518 | +31.0% |
| Financial income | 75/76B | €833 | €1,273 | +€440 | +52.9% |
| Recurring financial income | 75 | €833 | €1,273 | +€440 | +52.9% |
| Financial charges | 65/66B | €60,790 | €72,836 | +€12,046 | +19.8% |
| Recurring financial charges | 65 | €60,790 | €72,836 | +€12,046 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €1,006,416 | €1,325,328 | +€318,912 | +31.7% |
| Income taxes | 67/77 | €274,349 | €354,119 | +€79,770 | +29.1% |
| Profit (loss) for the period | 9904 | €732,067 | €971,209 | +€239,142 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €732,067 | €971,209 | +€239,142 | +32.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.