CORETEC INVOICING: 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.
CORETEC INVOICING
Largest movements
- Cash +€128,842
up €128,842 (+165%), from €78,176 to €207,018
mainly Net result for the year (+€455,343) and Depreciation (+€108,867)
- Intangible fixed assets -€108,867
down €108,867 (-60.2%), from €180,717 to €71,850
- Receivables within one year +€23,715
up €23,715 (+8.3%), from €285,857 to €309,572
of which Trade receivables: +€12,329
- Deferred charges and accrued income -€21,607
down €21,607 (-3.1%), from €703,463 to €681,856
- Profit (loss) carried forward +€455,343
up €455,343, from -€370,005 to €85,338
- Debts after one year -€379,133
down €379,133 (-29.2%), from €1.3m to €920,867
- Tax, wage and social debts -€37,239
down €37,239 (-82.0%), from €45,430 to €8,191
of which Taxes: -€21,855
- Trade debts -€31,909
down €31,909 (-16.1%), from €198,803 to €166,894
- Accrued charges and deferred income +€20,736
up €20,736, from €0 to €20,736
- Gross operating margin +€530,122
up €530,122 (+128%), from €413,217 to €943,340
- Staff costs -€412,238
down €412,238 (-64.9%), from €634,783 to €222,545
- Purchases and services -€133,689
down €133,689 (-22.5%), from €594,952 to €461,262
- Turnover -€109,381
down €109,381 (-12.2%), from €896,056 to €786,675
- Depreciation -€59,530
down €59,530 (-35.4%), from €168,396 to €108,867
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 | €1,400,398 | €1,422,481 | +€22,083 | +1.6% |
| Fixed assets | 21/28 | €332,902 | €224,036 | -€108,867 | -32.7% |
| Intangible fixed assets | 21 | €180,717 | €71,850 | -€108,867 | -60.2% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €152,186 | €152,186 | = | 0.0% |
| Current assets | 29/58 | €1,067,496 | €1,198,445 | +€130,949 | +12.3% |
| Amounts receivable within one year | 40/41 | €285,857 | €309,572 | +€23,715 | +8.3% |
| Trade receivables | 40 | €285,857 | €298,186 | +€12,329 | +4.3% |
| Other amounts receivable | 41 | €0 | €11,386 | +€11,386 | |
| Cash at bank and in hand | 54/58 | €78,176 | €207,018 | +€128,842 | +165% |
| Deferred charges and accrued income | 490/1 | €703,463 | €681,856 | -€21,607 | -3.1% |
| Total equity and liabilities | 10/49 | €1,400,398 | €1,422,481 | +€22,083 | +1.6% |
| Equity | 10/15 | -€207,770 | €247,573 | +€455,343 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €100,234 | €100,234 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €94,034 | €94,034 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€370,005 | €85,338 | +€455,343 | |
| Provisions and deferred taxes | 16 | €58,220 | €58,220 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €58,220 | €58,220 | = | 0.0% |
| Other liabilities and charges | 164/5 | €58,220 | €58,220 | = | 0.0% |
| Amounts payable | 17/49 | €1,549,948 | €1,116,688 | -€433,260 | -28.0% |
| Amounts payable after more than one year | 17 | €1,300,000 | €920,867 | -€379,133 | -29.2% |
| Financial debts | 170/4 | €1,300,000 | €920,867 | -€379,133 | -29.2% |
| Amounts payable within one year | 42/48 | €249,948 | €175,085 | -€74,863 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €198,803 | €166,894 | -€31,909 | -16.1% |
| Suppliers | 440/4 | €198,803 | €166,894 | -€31,909 | -16.1% |
| Taxes, remuneration and social security | 45 | €45,430 | €8,191 | -€37,239 | -82.0% |
| Taxes | 450/3 | €23,270 | €1,415 | -€21,855 | -93.9% |
| Remuneration and social security | 454/9 | €22,161 | €6,776 | -€15,385 | -69.4% |
| Other amounts payable | 47/48 | €5,715 | €0 | -€5,715 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €20,736 | +€20,736 | |
| Turnover | 70 | €896,056 | €786,675 | -€109,381 | -12.2% |
| Non-recurring operating income | 76A | €1,472 | €440,348 | +€438,876 | +29,820% |
| Goods, raw materials, services and sundry goods | 60/61 | €594,952 | €461,262 | -€133,689 | -22.5% |
| Remuneration, social security and pensions | 62 | €634,783 | €222,545 | -€412,238 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,396 | €108,867 | -€59,530 | -35.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,131 | €3,785 | +€13,916 | |
| Other operating charges | 640/8 | €21,245 | €34,340 | +€13,094 | +61.6% |
| Non-recurring operating charges | 66A | €4,787 | €65,405 | +€60,619 | +1,266% |
| Gross operating margin | 9900 | €413,217 | €943,340 | +€530,122 | +128% |
| Operating profit (loss) | 9901 | -€405,862 | €508,399 | +€914,261 | |
| Financial income | 75/76B | €1,681 | €138 | -€1,544 | -91.8% |
| Recurring financial income | 75 | €1,681 | €138 | -€1,544 | -91.8% |
| Financial charges | 65/66B | €23,726 | €52,363 | +€28,637 | +121% |
| Recurring financial charges | 65 | €23,726 | €52,363 | +€28,637 | +121% |
| Profit (loss) for the period before taxes | 9903 | -€427,907 | €456,173 | +€884,080 | |
| Income taxes | 67/77 | €5,855 | €830 | -€5,024 | -85.8% |
| Profit (loss) for the period | 9904 | -€433,761 | €455,343 | +€889,104 | |
| Profit (loss) for the period to be appropriated | 9905 | -€433,761 | €455,343 | +€889,104 |
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 13 October 2026 via checked.be.