CORFIM: 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.
What changed
CORFIM
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €23.1m-€21.6m
Equity
€21.8m
2024 · €20.2m+€1.5m
Cash
€13,965
2024 · €31,043-€17,078
Balance sheet total
€21.9m
2024 · €20.4m+€1.5m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+1,072%), from €145,064 to €1.7m
of which Other amounts receivable: +€1.4m
Equity and liabilities
- Profit (loss) carried forward +€1.5m
up €1.5m (+8.1%), from €18.7m to €20.2m
Income statement
- Financial income -€22.8m
down €22.8m (-95.6%), from €23.9m to €1.1m
of which Financial income: -€22.9m
- Turnover -€650,135
no longer reported in 2025 (was €650,135)
- Financial charges -€511,531
down €511,531 (-100.0%), from €511,760 to €229
- Other operating income +€403,270
up €403,270 (+30,505%), from €1,322 to €404,592
- Services and other goods -€232,644
down €232,644 (-86.4%), from €269,184 to €36,540
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.
Result 2024
€23.1m
Turnover
-€650,135
Other operating income
+€403,270
Services and other goods
+€232,644
Staff costs
-€7,200
Depreciation
+€57,506
Other operating charges
+€26,728
Other operating items
+€746,371
Financial income
-€22.8m
Financial charges
+€511,531
Taxes
-€49,509
Result 2025
€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€55,020
Investment
+€37,941
Financing
+€1
Cash 2024
€31,043
From operations (derived)
-€55,020
Net result for the year
+€1.5m
Depreciation
+€2,821
Receivables within one year
-€1.6m
Smaller working-capital items
+€1,238
Trade debts
-€14,554
Investment (derived)
+€37,941
Investment in fixed assets (net)
+€37,941
Financing
+€1
Contributions, distributions and other
+€1
Cash 2025
€13,965
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,366,012 | €21,863,135 | +€1.5m | +7.4% |
| Fixed assets | 21/28 | €20,189,483 | €20,148,721 | -€40,762 | -0.2% |
| Tangible fixed assets | 22/27 | €2,821 | - | -€2,821 | |
| Furniture and vehicles | 24 | €2,821 | - | -€2,821 | |
| Financial fixed assets | 28 | €20,186,662 | €20,148,721 | -€37,941 | -0.2% |
| Affiliated companies | 280/1 | €20,186,662 | €20,148,721 | -€37,941 | -0.2% |
| Participating interests | 280 | €20,186,662 | €20,148,721 | -€37,941 | -0.2% |
| Current assets | 29/58 | €176,529 | €1,714,414 | +€1.5m | +871% |
| Amounts receivable within one year | 40/41 | €145,064 | €1,700,449 | +€1.6m | +1,072% |
| Trade receivables | 40 | €87,895 | €202,310 | +€114,415 | +130% |
| Other amounts receivable | 41 | €57,169 | €1,498,139 | +€1.4m | +2,521% |
| Cash at bank and in hand | 54/58 | €31,043 | €13,965 | -€17,078 | -55.0% |
| Deferred charges and accrued income | 490/1 | €422 | - | -€422 | |
| Total equity and liabilities | 10/49 | €20,366,012 | €21,863,135 | +€1.5m | +7.4% |
| Equity | 10/15 | €20,246,157 | €21,757,018 | +€1.5m | +7.5% |
| Contributions | 10/11 | €942,403 | €942,403 | = | 0.0% |
| Capital | 10 | €913,645 | €913,645 | = | 0.0% |
| Issued capital | 100 | €913,645 | €913,645 | = | 0.0% |
| Contributions outside capital | 11 | €28,758 | €28,758 | = | 0.0% |
| Share premium | 1100/10 | €28,758 | €28,758 | = | 0.0% |
| Reserves | 13 | €638,833 | €638,833 | = | 0.0% |
| Non-distributable reserves | 130/1 | €102,876 | €102,876 | = | 0.0% |
| Legal reserve | 130 | €102,876 | €102,876 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,982 | €39,982 | = | 0.0% |
| Distributable reserves | 133 | €495,975 | €495,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,664,921 | €20,175,782 | +€1.5m | +8.1% |
| Amounts payable | 17/49 | €119,855 | €106,117 | -€13,738 | -11.5% |
| Amounts payable within one year | 42/48 | €119,855 | €106,117 | -€13,738 | -11.5% |
| Trade debts | 44 | €100,418 | €85,864 | -€14,554 | -14.5% |
| Suppliers | 440/4 | €100,418 | €85,864 | -€14,554 | -14.5% |
| Taxes, remuneration and social security | 45 | €19,437 | €20,253 | +€816 | +4.2% |
| Remuneration and social security | 454/9 | €19,437 | €20,253 | +€816 | +4.2% |
| Operating income | 70/76A | €651,457 | €717,632 | +€66,175 | +10.2% |
| Turnover | 70 | €650,135 | - | -€650,135 | |
| Other operating income | 74 | €1,322 | €404,592 | +€403,270 | +30,505% |
| Non-recurring operating income | 76A | - | €313,040 | +€313,040 | |
| Operating charges | 60/66A | €958,117 | €215,108 | -€743,009 | -77.5% |
| Services and other goods | 61 | €269,184 | €36,540 | -€232,644 | -86.4% |
| Remuneration, social security and pensions | 62 | €166,887 | €174,087 | +€7,200 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,327 | €2,821 | -€57,506 | -95.3% |
| Other operating charges | 640/8 | €28,388 | €1,660 | -€26,728 | -94.2% |
| Non-recurring operating charges | 66A | €433,331 | - | -€433,331 | |
| Operating profit (loss) | 9901 | -€306,660 | €502,524 | +€809,184 | |
| Financial income | 75/76B | €23,900,000 | €1,058,296 | -€22.8m | -95.6% |
| Recurring financial income | 75 | €23,900,000 | €971,671 | -€22.9m | -95.9% |
| Income from financial fixed assets | 750 | €23,900,000 | €971,671 | -€22.9m | -95.9% |
| Non-recurring financial income | 76B | - | €86,625 | +€86,625 | |
| Financial charges | 65/66B | €511,760 | €229 | -€511,531 | -100.0% |
| Recurring financial charges | 65 | €511,760 | €229 | -€511,531 | -100.0% |
| Debt charges | 650 | €511,760 | €229 | -€511,531 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €23,081,580 | €1,560,591 | -€21.5m | -93.2% |
| Income taxes | 67/77 | €222 | €49,731 | +€49,509 | +22,301% |
| Taxes | 670/3 | €404 | €49,731 | +€49,327 | +12,210% |
| Tax adjustments and reversals of tax provisions | 77 | €182 | - | -€182 | |
| Profit (loss) for the period | 9904 | €23,081,358 | €1,510,860 | -€21.6m | -93.5% |
| Transfer to tax-exempt reserves | 689 | €1,303,288 | - | -€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €21,778,070 | €1,510,860 | -€20.3m | -93.1% |
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 16 October 2026 via checked.be.