CORETEX: 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.
CORETEX
Largest movements
- Stocks and contracts +€629,927
up €629,927 (+53.7%), from €1.2m to €1.8m
- Receivables within one year +€60,672
up €60,672 (+3.1%), from €1.9m to €2.0m
of which Trade receivables: +€45,663
- Cash -€48,237
down €48,237 (-10.0%), from €483,949 to €435,712
mainly Stocks and contracts (-€629,927) and Short-term financial debts (-€400,000)
- Short-term financial debts -€400,000
down €400,000 (-57.1%), from €700,000 to €300,000
- Debts after one year +€359,683
up €359,683 (+55.1%), from €652,769 to €1.0m
of which Financial debts: +€359,683
- Other debts +€349,116
up €349,116 (+704%), from €49,556 to €398,672
- Trade debts +€239,658
up €239,658 (+17.4%), from €1.4m to €1.6m
- Current portion of long-term debt +€104,839
up €104,839 (+577%), from €18,176 to €123,015
- Staff costs +€80,466
up €80,466 (+103%), from €78,090 to €158,557
- Gross operating margin -€41,592
down €41,592 (-5.1%), from €812,733 to €771,141
- Taxes -€38,352
down €38,352 (-24.1%), from €159,120 to €120,768
- Financial charges +€20,182
up €20,182 (+26.3%), from €76,592 to €96,774
- Write-downs +€12,923
new in 2025: €12,923
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 | €3,661,008 | €4,305,762 | +€644,753 | +17.6% |
| Fixed assets | 21/28 | €61,708 | €64,057 | +€2,349 | +3.8% |
| Tangible fixed assets | 22/27 | €61,708 | €64,057 | +€2,349 | +3.8% |
| Plant, machinery and equipment | 23 | €2,309 | €3,084 | +€775 | +33.6% |
| Furniture and vehicles | 24 | €17,566 | €28,800 | +€11,234 | +64.0% |
| Leasing and similar rights | 25 | €41,833 | €32,173 | -€9,660 | -23.1% |
| Current assets | 29/58 | €3,599,300 | €4,241,704 | +€642,404 | +17.8% |
| Stocks and contracts in progress | 3 | €1,172,841 | €1,802,769 | +€629,927 | +53.7% |
| Stocks | 30/36 | €1,172,841 | €1,802,769 | +€629,927 | +53.7% |
| Amounts receivable within one year | 40/41 | €1,933,509 | €1,994,181 | +€60,672 | +3.1% |
| Trade receivables | 40 | €1,909,950 | €1,955,612 | +€45,663 | +2.4% |
| Other amounts receivable | 41 | €23,559 | €38,569 | +€15,010 | +63.7% |
| Cash at bank and in hand | 54/58 | €483,949 | €435,712 | -€48,237 | -10.0% |
| Deferred charges and accrued income | 490/1 | €9,001 | €9,042 | +€41 | +0.5% |
| Total equity and liabilities | 10/49 | €3,661,008 | €4,305,762 | +€644,753 | +17.6% |
| Equity | 10/15 | €771,622 | €772,931 | +€1,309 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €750,000 | €750,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,022 | €4,331 | +€1,309 | +43.3% |
| Amounts payable | 17/49 | €2,889,387 | €3,532,831 | +€643,444 | +22.3% |
| Amounts payable after more than one year | 17 | €652,769 | €1,012,452 | +€359,683 | +55.1% |
| Financial debts | 170/4 | €336,519 | €696,202 | +€359,683 | +107% |
| Other amounts payable | 178/9 | €316,250 | €316,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,206,897 | €2,475,228 | +€268,332 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €18,176 | €123,015 | +€104,839 | +577% |
| Financial debts | 43 | €700,000 | €300,000 | -€400,000 | -57.1% |
| Credit institutions | 430/8 | €700,000 | €300,000 | -€400,000 | -57.1% |
| Trade debts | 44 | €1,376,742 | €1,616,400 | +€239,658 | +17.4% |
| Suppliers | 440/4 | €1,376,742 | €1,616,400 | +€239,658 | +17.4% |
| Taxes, remuneration and social security | 45 | €62,424 | €37,142 | -€25,281 | -40.5% |
| Taxes | 450/3 | €47,731 | €6,708 | -€41,023 | -85.9% |
| Remuneration and social security | 454/9 | €14,693 | €30,434 | +€15,741 | +107% |
| Other amounts payable | 47/48 | €49,556 | €398,672 | +€349,116 | +704% |
| Accrued charges and deferred income | 492/3 | €29,721 | €45,151 | +€15,430 | +51.9% |
| Non-recurring operating income | 76A | €2,677 | €0 | -€2,677 | -100% |
| Remuneration, social security and pensions | 62 | €78,090 | €158,557 | +€80,466 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,554 | €20,479 | +€6,925 | +51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,923 | +€12,923 | |
| Other operating charges | 640/8 | €4,101 | €15,625 | +€11,524 | +281% |
| Non-recurring operating charges | 66A | €142 | €0 | -€142 | -100% |
| Gross operating margin | 9900 | €812,733 | €771,141 | -€41,592 | -5.1% |
| Operating profit (loss) | 9901 | €716,846 | €563,557 | -€153,289 | -21.4% |
| Financial income | 75/76B | €964 | €5,294 | +€4,330 | +449% |
| Recurring financial income | 75 | €964 | €5,294 | +€4,330 | +449% |
| Financial charges | 65/66B | €76,592 | €96,774 | +€20,182 | +26.3% |
| Recurring financial charges | 65 | €76,592 | €96,774 | +€20,182 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €641,218 | €472,078 | -€169,140 | -26.4% |
| Income taxes | 67/77 | €159,120 | €120,768 | -€38,352 | -24.1% |
| Profit (loss) for the period | 9904 | €482,098 | €351,309 | -€130,789 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €482,098 | €351,309 | -€130,789 | -27.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.