CORESO: 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.
CORESO
Largest movements
- Intangible fixed assets +€11.1m
up €11.1m (+68.1%), from €16.3m to €27.4m
- Receivables within one year +€2.3m
up €2.3m (+191.5%), from €1.2m to €3.5m
of which Trade receivables: +€1.8m
- Cash -€2.2m
down €2.2m (-67.6%), from €3.2m to €1.0m
mainly Investment in fixed assets (net) (-€13.0m) and Receivables within one year (-€2.3m)
- Short-term financial debts +€9.4m
up €9.4m (+261.1%), from €3.6m to €13.0m
- Profit (loss) carried forward +€1.2m
up €1.2m (+24.6%), from €4.9m to €6.1m
- Tax, wage and social debts +€796,581
up €796,581 (+29.3%), from €2.7m to €3.5m
of which Remuneration and social security: +€945,274
- Trade debts -€789,816
down €789,816 (-8.1%), from €9.8m to €9.0m
- Turnover +€9.2m
up €9.2m (+30.2%), from €30.5m to €39.7m
- Services and other goods +€5.1m
up €5.1m (+30.8%), from €16.5m to €21.6m
- Staff costs +€3.8m
up €3.8m (+33.0%), from €11.4m to €15.2m
- Depreciation -€820,728
down €820,728 (-26.9%), from €3.0m to €2.2m
- Other operating income +€549,441
up €549,441 (+102.1%), from €538,215 to €1.1m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,096,359 | €32,989,206 | +€10.9m | +49.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €17,464,078 | €28,235,957 | +€10.8m | +61.7% |
| Intangible fixed assets | 21 | €16,277,334 | €27,366,179 | +€11.1m | +68.1% |
| Tangible fixed assets | 22/27 | €1,186,745 | €869,778 | -€316,966 | -26.7% |
| Furniture and vehicles | 24 | €422,850 | €253,771 | -€169,079 | -40.0% |
| Other tangible fixed assets | 26 | €763,894 | €616,007 | -€147,887 | -19.4% |
| Assets under construction and advance payments | 27 | €0 | €0 | = | |
| Current assets | 29/58 | €4,632,281 | €4,753,249 | +€120,968 | +2.6% |
| Amounts receivable within one year | 40/41 | €1,187,732 | €3,461,921 | +€2.3m | +191.5% |
| Trade receivables | 40 | €506,951 | €2,340,872 | +€1.8m | +361.8% |
| Other amounts receivable | 41 | €680,782 | €1,121,049 | +€440,268 | +64.7% |
| Cash at bank and in hand | 54/58 | €3,192,216 | €1,034,280 | -€2.2m | -67.6% |
| Deferred charges and accrued income | 490/1 | €252,333 | €257,049 | +€4,716 | +1.9% |
| Total equity and liabilities | 10/49 | €22,096,359 | €32,989,206 | +€10.9m | +49.3% |
| Equity | 10/15 | €5,996,062 | €7,198,803 | +€1.2m | +20.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,896,062 | €6,098,803 | +€1.2m | +24.6% |
| Amounts payable | 17/49 | €16,100,297 | €25,790,403 | +€9.7m | +60.2% |
| Amounts payable within one year | 42/48 | €16,070,953 | €25,477,717 | +€9.4m | +58.5% |
| Financial debts | 43 | €3,600,000 | €13,000,000 | +€9.4m | +261.1% |
| Credit institutions | 430/8 | €3,600,000 | €13,000,000 | +€9.4m | +261.1% |
| Trade debts | 44 | €9,753,407 | €8,963,591 | -€789,816 | -8.1% |
| Suppliers | 440/4 | €9,753,407 | €8,963,591 | -€789,816 | -8.1% |
| Taxes, remuneration and social security | 45 | €2,717,545 | €3,514,126 | +€796,581 | +29.3% |
| Taxes | 450/3 | €482,110 | €333,417 | -€148,693 | -30.8% |
| Remuneration and social security | 454/9 | €2,235,436 | €3,180,709 | +€945,274 | +42.3% |
| Accrued charges and deferred income | 492/3 | €29,345 | €312,686 | +€283,341 | +965.6% |
| Operating income | 70/76A | €32,613,303 | €42,362,190 | +€9.7m | +29.9% |
| Turnover | 70 | €30,499,623 | €39,725,729 | +€9.2m | +30.2% |
| Own construction capitalised | 72 | €1,575,465 | €1,548,805 | -€26,660 | -1.7% |
| Other operating income | 74 | €538,215 | €1,087,656 | +€549,441 | +102.1% |
| Operating charges | 60/66A | €30,978,289 | €40,086,636 | +€9.1m | +29.4% |
| Goods for resale, raw materials and consumables | 60 | €0 | - | = | |
| Purchases | 600/8 | €0 | - | = | |
| Services and other goods | 61 | €16,498,194 | €21,580,780 | +€5.1m | +30.8% |
| Remuneration, social security and pensions | 62 | €11,434,636 | €15,213,732 | +€3.8m | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,045,406 | €2,224,678 | -€820,728 | -26.9% |
| Other operating charges | 640/8 | €53 | €1,049 | +€997 | +1895.0% |
| Non-recurring operating charges | 66A | - | €1,066,396 | +€1.1m | |
| Operating profit (loss) | 9901 | €1,635,014 | €2,275,555 | +€640,541 | +39.2% |
| Financial income | 75/76B | €3,515 | €1,645 | -€1,871 | -53.2% |
| Recurring financial income | 75 | €3,515 | €1,645 | -€1,871 | -53.2% |
| Other financial income | 752/9 | €3,515 | €1,645 | -€1,871 | -53.2% |
| Financial charges | 65/66B | €185,668 | €385,498 | +€199,830 | +107.6% |
| Recurring financial charges | 65 | €185,668 | €385,498 | +€199,830 | +107.6% |
| Debt charges | 650 | - | €381,724 | +€381,724 | |
| Other financial charges | 652/9 | €185,668 | €3,774 | -€181,894 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | €1,452,862 | €1,891,702 | +€438,840 | +30.2% |
| Income taxes | 67/77 | €729,953 | €688,960 | -€40,993 | -5.6% |
| Taxes | 670/3 | €729,953 | €724,064 | -€5,889 | -0.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €35,104 | +€35,104 | |
| Profit (loss) for the period | 9904 | €722,909 | €1,202,741 | +€479,833 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €722,909 | €1,202,741 | +€479,833 | +66.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.