Corfin: what changed
What changed
Corfin
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€10,414
2024 · €112,648-€102,234
Equity
€552,848
2024 · €541,458+€11,390
Cash
€2,333
2024 · €7,250-€4,917
Balance sheet total
€2.6m
2024 · €2.6m-€18,758
Largest movements
Assets
- Tangible fixed assets -€29,723
down €29,723 (-1.3%), from €2.2m to €2.2m
of which Land and buildings: -€22,540
- Deferred charges and accrued income +€27,992
new in 2025: €27,992
Equity and liabilities
- Debts after one year -€40,698
down €40,698 (-2.6%), from €1.6m to €1.5m
Income statement
- Gross operating margin -€84,593
down €84,593, from €68,533 to -€16,060
- Depreciation +€28,195
up €28,195 (+55.7%), from €50,577 to €78,772
- Financial charges +€9,101
up €9,101 (+45.2%), from €20,154 to €29,255
- Other operating charges +€1,955
up €1,955 (+50.4%), from €3,875 to €5,830
- Financial income -€1,776
down €1,776 (-1.3%), from €141,955 to €140,178
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€112,648
Gross operating margin
-€84,593
Depreciation
-€28,195
Other operating charges
-€1,955
Financial income
-€1,776
Financial charges
-€9,101
Taxes
+€33
Deferred taxes and other
+€23,353
Result 2025
€10,414
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€81,603
Investment
-€49,048
Financing
-€37,471
Cash 2024
€7,250
From operations (derived)
+€81,603
Net result for the year
+€10,414
Depreciation
+€78,772
Receivables within one year
+€12,111
Deferred charges and accrued income
-€27,992
Provisions
-€695
Trade debts
+€469
Tax, wage and social debts
-€5,407
Other debts
+€13,931
Investment (derived)
-€49,048
Investment in fixed assets (net)
-€49,048
Financing
-€37,471
Debts after one year
-€40,698
Current portion of long-term debt
+€1,917
Short-term financial debts
+€335
Contributions, distributions and other
+€976
Cash 2025
€2,333
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,625,205 | €2,606,447 | -€18,758 | -0.7% |
| Fixed assets | 21/28 | €2,524,699 | €2,494,976 | -€29,723 | -1.2% |
| Tangible fixed assets | 22/27 | €2,234,959 | €2,205,236 | -€29,723 | -1.3% |
| Land and buildings | 22 | €2,195,942 | €2,173,402 | -€22,540 | -1.0% |
| Plant, machinery and equipment | 23 | €10,717 | €9,515 | -€1,202 | -11.2% |
| Furniture and vehicles | 24 | €3,925 | €2,941 | -€985 | -25.1% |
| Other tangible fixed assets | 26 | €24,375 | €19,378 | -€4,997 | -20.5% |
| Financial fixed assets | 28 | €289,740 | €289,740 | = | 0.0% |
| Current assets | 29/58 | €100,506 | €111,471 | +€10,965 | +10.9% |
| Stocks and contracts in progress | 3 | €5,900 | €5,900 | = | 0.0% |
| Stocks | 30/36 | €5,900 | €5,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €87,356 | €75,246 | -€12,111 | -13.9% |
| Trade receivables | 40 | €7,420 | €0 | -€7,420 | -100% |
| Other amounts receivable | 41 | €79,937 | €75,246 | -€4,691 | -5.9% |
| Cash at bank and in hand | 54/58 | €7,250 | €2,333 | -€4,917 | -67.8% |
| Deferred charges and accrued income | 490/1 | - | €27,992 | +€27,992 | |
| Total equity and liabilities | 10/49 | €2,625,205 | €2,606,447 | -€18,758 | -0.7% |
| Equity | 10/15 | €541,458 | €552,848 | +€11,390 | +2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €352,000 | €352,000 | = | 0.0% |
| Reserves | 13 | €69,861 | €67,777 | -€2,084 | -3.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €68,001 | €65,917 | -€2,084 | -3.1% |
| Profit (loss) carried forward | 14 | €113,396 | €126,870 | +€13,474 | +11.9% |
| Provisions and deferred taxes | 16 | €22,658 | €21,963 | -€695 | -3.1% |
| Deferred taxes | 168 | €22,658 | €21,963 | -€695 | -3.1% |
| Amounts payable | 17/49 | €2,061,089 | €2,031,636 | -€29,454 | -1.4% |
| Amounts payable after more than one year | 17 | €1,576,814 | €1,536,116 | -€40,698 | -2.6% |
| Financial debts | 170/4 | €1,576,814 | €1,536,116 | -€40,698 | -2.6% |
| Amounts payable within one year | 42/48 | €275,969 | €287,214 | +€11,245 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €37,729 | €39,646 | +€1,917 | +5.1% |
| Financial debts | 43 | €3 | €338 | +€335 | +11,189% |
| Credit institutions | 430/8 | €3 | €338 | +€335 | +11,189% |
| Trade debts | 44 | €7,728 | €8,197 | +€469 | +6.1% |
| Suppliers | 440/4 | €7,728 | €8,197 | +€469 | +6.1% |
| Taxes, remuneration and social security | 45 | €13,683 | €8,276 | -€5,407 | -39.5% |
| Taxes | 450/3 | €13,683 | €8,276 | -€5,407 | -39.5% |
| Other amounts payable | 47/48 | €216,826 | €230,758 | +€13,931 | +6.4% |
| Accrued charges and deferred income | 492/3 | €208,306 | €208,306 | = | 0.0% |
| Non-recurring operating income | 76A | €91,696 | - | -€91,696 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,577 | €78,772 | +€28,195 | +55.7% |
| Other operating charges | 640/8 | €3,875 | €5,830 | +€1,955 | +50.4% |
| Gross operating margin | 9900 | €68,533 | -€16,060 | -€84,593 | |
| Operating profit (loss) | 9901 | €14,082 | -€100,661 | -€114,743 | |
| Financial income | 75/76B | €141,955 | €140,178 | -€1,776 | -1.3% |
| Recurring financial income | 75 | €141,955 | €140,178 | -€1,776 | -1.3% |
| Financial charges | 65/66B | €20,154 | €29,255 | +€9,101 | +45.2% |
| Recurring financial charges | 65 | €20,154 | €29,255 | +€9,101 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €135,882 | €10,262 | -€125,620 | -92.4% |
| Transfer from deferred taxes | 780 | €266 | €695 | +€429 | +161% |
| Transfer to deferred taxes | 680 | €22,924 | €0 | -€22,924 | -100% |
| Income taxes | 67/77 | €576 | €543 | -€33 | -5.7% |
| Profit (loss) for the period | 9904 | €112,648 | €10,414 | -€102,234 | -90.8% |
| Transfer from tax-exempt reserves | 789 | €771 | €2,084 | +€1,313 | +170% |
| Transfer to tax-exempt reserves | 689 | €68,772 | €0 | -€68,772 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €44,646 | €12,498 | -€32,149 | -72.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.