CORHENCO: 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.
CORHENCO
Largest movements
- Receivables within one year -€129,038
down €129,038 (-56.7%), from €227,593 to €98,555
of which Other amounts receivable: -€133,038
- Cash +€65,458
up €65,458 (+59.3%), from €110,400 to €175,858
mainly Receivables within one year (+€129,038) and Net result for the year (+€69,289)
- Debts after one year -€40,824
down €40,824 (-12.0%), from €338,962 to €298,138
- Reserves +€24,000
up €24,000 (+5.3%), from €456,110 to €480,110
of which Distributable reserves: +€25,860
- Trade debts -€20,259
down €20,259 (-59.6%), from €33,991 to €13,731
- Provisions -€15,000
no longer reported in 2025 (was €15,000)
- Tax, wage and social debts -€14,102
down €14,102 (-98.6%), from €14,302 to €200
- Gross operating margin -€83,461
down €83,461 (-55.5%), from €150,458 to €66,996
- Write-downs -€21,685
new in 2025: -€21,685
- Taxes -€18,254
down €18,254 (-66.8%), from €27,329 to €9,075
- Provisions -€15,000
new in 2025: -€15,000
- Financial income -€7,423
down €7,423 (-99.8%), from €7,436 to €14
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.
Cash bridge derived
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 | €1,011,703 | €946,731 | -€64,972 | -6.4% |
| Fixed assets | 21/28 | €673,710 | €672,318 | -€1,392 | -0.2% |
| Tangible fixed assets | 22/27 | €673,710 | €672,318 | -€1,392 | -0.2% |
| Land and buildings | 22 | €673,710 | €672,318 | -€1,392 | -0.2% |
| Current assets | 29/58 | €337,993 | €274,413 | -€63,580 | -18.8% |
| Amounts receivable within one year | 40/41 | €227,593 | €98,555 | -€129,038 | -56.7% |
| Trade receivables | 40 | - | €4,000 | +€4,000 | |
| Other amounts receivable | 41 | €227,593 | €94,555 | -€133,038 | -58.5% |
| Cash at bank and in hand | 54/58 | €110,400 | €175,858 | +€65,458 | +59.3% |
| Total equity and liabilities | 10/49 | €1,011,703 | €946,731 | -€64,972 | -6.4% |
| Equity | 10/15 | €524,177 | €548,466 | +€24,289 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €456,110 | €480,110 | +€24,000 | +5.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €33,750 | €33,750 | = | 0.0% |
| Distributable reserves | 133 | €420,500 | €446,360 | +€25,860 | +6.1% |
| Profit (loss) carried forward | 14 | €49,467 | €49,756 | +€289 | +0.6% |
| Provisions and deferred taxes | 16 | €15,000 | - | -€15,000 | |
| Provisions for liabilities and charges | 160/5 | €15,000 | - | -€15,000 | |
| Major repairs and maintenance | 162 | €15,000 | - | -€15,000 | |
| Amounts payable | 17/49 | €472,526 | €398,265 | -€74,261 | -15.7% |
| Amounts payable after more than one year | 17 | €338,962 | €298,138 | -€40,824 | -12.0% |
| Financial debts | 170/4 | €338,962 | €298,138 | -€40,824 | -12.0% |
| Amounts payable within one year | 42/48 | €133,564 | €100,127 | -€33,437 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €40,271 | €40,824 | +€553 | +1.4% |
| Trade debts | 44 | €33,991 | €13,731 | -€20,259 | -59.6% |
| Suppliers | 440/4 | €33,991 | €13,731 | -€20,259 | -59.6% |
| Taxes, remuneration and social security | 45 | €14,302 | €200 | -€14,102 | -98.6% |
| Taxes | 450/3 | €14,302 | €200 | -€14,102 | -98.6% |
| Other amounts payable | 47/48 | €45,000 | €45,372 | +€372 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,549 | €18,392 | +€843 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€21,685 | -€21,685 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€15,000 | -€15,000 | |
| Other operating charges | 640/8 | €1,205 | €1,535 | +€330 | +27.4% |
| Gross operating margin | 9900 | €150,458 | €66,996 | -€83,461 | -55.5% |
| Operating profit (loss) | 9901 | €131,704 | €83,753 | -€47,950 | -36.4% |
| Financial income | 75/76B | €7,436 | €14 | -€7,423 | -99.8% |
| Recurring financial income | 75 | €7,436 | €14 | -€7,423 | -99.8% |
| Financial charges | 65/66B | €10,149 | €5,403 | -€4,746 | -46.8% |
| Recurring financial charges | 65 | €10,149 | €5,403 | -€4,746 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €128,991 | €78,364 | -€50,627 | -39.2% |
| Income taxes | 67/77 | €27,329 | €9,075 | -€18,254 | -66.8% |
| Profit (loss) for the period | 9904 | €101,662 | €69,289 | -€32,373 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €101,662 | €69,289 | -€32,373 | -31.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.