CORIN PASCAL: 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.
CORIN PASCAL
Largest movements
- Receivables within one year +€79,691
up €79,691 (+52.2%), from €152,702 to €232,393
of which Trade receivables: +€67,958
- Tangible fixed assets -€36,802
down €36,802 (-27.0%), from €136,242 to €99,441
- Cash -€15,387
down €15,387 (-60.7%), from €25,365 to €9,978
mainly Receivables within one year (-€79,691) and Current portion of long-term debt (-€26,566)
- Accrued charges and deferred income +€38,414
up €38,414 (+1890.7%), from €2,032 to €40,446
- Profit (loss) carried forward +€29,778
up €29,778 (+33.7%), from €88,461 to €118,240
- Current portion of long-term debt -€26,566
down €26,566 (-47.2%), from €56,258 to €29,692
- Debts after one year -€13,905
down €13,905 (-11.5%), from €120,692 to €106,787
of which Financial debts: -€13,905
- Tax, wage and social debts +€13,024
up €13,024 (+26.5%), from €49,202 to €62,226
of which Remuneration and social security: +€7,525
- Purchases and services -€107,427
down €107,427 (-2.9%), from €3.7m to €3.6m
- Turnover -€55,753
down €55,753 (-1.4%), from €3.9m to €3.9m
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 | €449,582 | €477,531 | +€27,949 | +6.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €136,592 | €99,791 | -€36,802 | -26.9% |
| Tangible fixed assets | 22/27 | €136,242 | €99,441 | -€36,802 | -27.0% |
| Land and buildings | 22 | €79,482 | €63,562 | -€15,919 | -20.0% |
| Plant, machinery and equipment | 23 | €2,811 | €1,114 | -€1,697 | -60.4% |
| Furniture and vehicles | 24 | €19,614 | €13,454 | -€6,161 | -31.4% |
| Other tangible fixed assets | 26 | €34,336 | €21,311 | -€13,025 | -37.9% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €312,990 | €377,741 | +€64,751 | +20.7% |
| Stocks and contracts in progress | 3 | €133,797 | €134,352 | +€555 | +0.4% |
| Stocks | 30/36 | €133,797 | €134,352 | +€555 | +0.4% |
| Amounts receivable within one year | 40/41 | €152,702 | €232,393 | +€79,691 | +52.2% |
| Trade receivables | 40 | €134,771 | €202,729 | +€67,958 | +50.4% |
| Other amounts receivable | 41 | €17,931 | €29,664 | +€11,734 | +65.4% |
| Cash at bank and in hand | 54/58 | €25,365 | €9,978 | -€15,387 | -60.7% |
| Deferred charges and accrued income | 490/1 | €1,126 | €1,018 | -€108 | -9.6% |
| Total equity and liabilities | 10/49 | €449,582 | €477,531 | +€27,949 | +6.2% |
| Equity | 10/15 | €150,521 | €180,300 | +€29,778 | +19.8% |
| Contributions | 10/11 | €48,200 | €48,200 | = | 0.0% |
| Outside capital | 11 | €48,200 | - | -€48,200 | |
| Other | 1109/19 | €48,200 | - | -€48,200 | |
| Reserves | 13 | €13,860 | €13,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,461 | €118,240 | +€29,778 | +33.7% |
| Amounts payable | 17/49 | €299,061 | €297,232 | -€1,829 | -0.6% |
| Amounts payable after more than one year | 17 | €120,692 | €106,787 | -€13,905 | -11.5% |
| Financial debts | 170/4 | €92,692 | €78,787 | -€13,905 | -15.0% |
| Other amounts payable | 178/9 | €28,000 | €28,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €176,338 | €150,000 | -€26,338 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €56,258 | €29,692 | -€26,566 | -47.2% |
| Trade debts | 44 | €58,265 | €45,340 | -€12,924 | -22.2% |
| Suppliers | 440/4 | €58,265 | €45,340 | -€12,924 | -22.2% |
| Advances received on contracts in progress | 46 | €3,000 | €4,500 | +€1,500 | +50.0% |
| Taxes, remuneration and social security | 45 | €49,202 | €62,226 | +€13,024 | +26.5% |
| Taxes | 450/3 | €8,774 | €14,273 | +€5,500 | +62.7% |
| Remuneration and social security | 454/9 | €40,429 | €47,953 | +€7,525 | +18.6% |
| Other amounts payable | 47/48 | €9,612 | €8,241 | -€1,371 | -14.3% |
| Accrued charges and deferred income | 492/3 | €2,032 | €40,446 | +€38,414 | +1890.7% |
| Turnover | 70 | €3,949,757 | €3,894,004 | -€55,753 | -1.4% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,727,613 | €3,620,186 | -€107,427 | -2.9% |
| Remuneration, social security and pensions | 62 | €170,388 | €176,281 | +€5,893 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,665 | €42,893 | -€1,771 | -4.0% |
| Other operating charges | 640/8 | €5,663 | €10,602 | +€4,938 | +87.2% |
| Gross operating margin | 9900 | €260,799 | €285,831 | +€25,032 | +9.6% |
| Operating profit (loss) | 9901 | €40,083 | €56,055 | +€15,972 | +39.8% |
| Financial income | 75/76B | €73 | €64 | -€9 | -12.9% |
| Recurring financial income | 75 | €73 | €64 | -€9 | -12.9% |
| Financial charges | 65/66B | €16,490 | €16,341 | -€149 | -0.9% |
| Recurring financial charges | 65 | €16,490 | €16,341 | -€149 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €23,666 | €39,778 | +€16,112 | +68.1% |
| Income taxes | 67/77 | €4,750 | €10,000 | +€5,250 | +110.5% |
| Profit (loss) for the period | 9904 | €18,916 | €29,778 | +€10,862 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,916 | €29,778 | +€10,862 | +57.4% |
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 5 October 2026 via checked.be.