CORMA: 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.
CORMA
Largest movements
- Receivables within one year +€41,142
up €41,142 (+26.6%), from €154,558 to €195,700
of which Other amounts receivable: +€43,827
- Cash -€24,281
down €24,281 (-90.1%), from €26,939 to €2,658
mainly Receivables within one year (-€41,142) and Trade debts (-€38,905)
- Stocks and contracts -€16,537
down €16,537 (-82.9%), from €19,955 to €3,418
- Trade debts -€38,905
down €38,905 (-58.4%), from €66,639 to €27,734
- Profit (loss) carried forward +€31,083
up €31,083 (+29.9%), from €103,912 to €134,996
- Tax, wage and social debts +€8,148
up €8,148 (+76.9%), from €10,598 to €18,747
- Financial income +€8,151
up €8,151 (+787.3%), from €1,035 to €9,186
- Gross operating margin -€5,533
down €5,533 (-14.0%), from €39,514 to €33,982
- Taxes +€884
up €884 (+8.5%), from €10,432 to €11,315
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 | €201,610 | €201,937 | +€327 | +0.2% |
| Current assets | 29/58 | €201,610 | €201,937 | +€327 | +0.2% |
| Stocks and contracts in progress | 3 | €19,955 | €3,418 | -€16,537 | -82.9% |
| Stocks | 30/36 | €19,955 | €3,418 | -€16,537 | -82.9% |
| Amounts receivable within one year | 40/41 | €154,558 | €195,700 | +€41,142 | +26.6% |
| Trade receivables | 40 | €101,587 | €98,902 | -€2,685 | -2.6% |
| Other amounts receivable | 41 | €52,971 | €96,798 | +€43,827 | +82.7% |
| Cash at bank and in hand | 54/58 | €26,939 | €2,658 | -€24,281 | -90.1% |
| Deferred charges and accrued income | 490/1 | €158 | €161 | +€3 | +2.1% |
| Total equity and liabilities | 10/49 | €201,610 | €201,937 | +€327 | +0.2% |
| Equity | 10/15 | €124,372 | €155,456 | +€31,083 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,912 | €134,996 | +€31,083 | +29.9% |
| Amounts payable | 17/49 | €77,237 | €46,481 | -€30,757 | -39.8% |
| Amounts payable within one year | 42/48 | €77,237 | €46,481 | -€30,757 | -39.8% |
| Trade debts | 44 | €66,639 | €27,734 | -€38,905 | -58.4% |
| Suppliers | 440/4 | €66,639 | €27,734 | -€38,905 | -58.4% |
| Taxes, remuneration and social security | 45 | €10,598 | €18,747 | +€8,148 | +76.9% |
| Taxes | 450/3 | €10,598 | €18,747 | +€8,148 | +76.9% |
| Other operating charges | 640/8 | €950 | €607 | -€343 | -36.1% |
| Gross operating margin | 9900 | €39,514 | €33,982 | -€5,533 | -14.0% |
| Operating profit (loss) | 9901 | €38,564 | €33,374 | -€5,190 | -13.5% |
| Financial income | 75/76B | €1,035 | €9,186 | +€8,151 | +787.3% |
| Recurring financial income | 75 | €1,035 | €9,186 | +€8,151 | +787.3% |
| Financial charges | 65/66B | €136 | €162 | +€26 | +19.5% |
| Recurring financial charges | 65 | €136 | €162 | +€26 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €39,463 | €42,399 | +€2,935 | +7.4% |
| Income taxes | 67/77 | €10,432 | €11,315 | +€884 | +8.5% |
| Profit (loss) for the period | 9904 | €29,032 | €31,083 | +€2,052 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,032 | €31,083 | +€2,052 | +7.1% |
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 10 October 2026 via checked.be.