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
- Financial fixed assets +€59,160
up €59,160 (+44.4%), from €133,110 to €192,270
- Deferred charges and accrued income +€12,428
up €12,428 (+902.7%), from €1,377 to €13,804
- Debts after one year +€115,428
new in 2025: €115,428
- Profit (loss) carried forward -€55,363
down €55,363 (-1098.3%), from -€5,041 to -€60,404
- Accrued charges and deferred income +€44,928
up €44,928 (+62591.6%), from €72 to €45,000
- Other debts -€25,925
down €25,925 (-100.0%), from €25,925 to €0
- Trade debts -€23,518
down €23,518 (-12.7%), from €185,483 to €161,965
- Staff costs +€27,828
up €27,828 (+69.8%), from €39,864 to €67,692
- Depreciation +€19,391
up €19,391 (+2437.6%), from €795 to €20,186
- Gross operating margin -€10,160
down €10,160 (-12.1%), from €83,783 to €73,623
- Financial charges -€1,648
down €1,648 (-10.6%), from €15,572 to €13,923
- Financial income -€1,236
down €1,236 (-100.0%), from €1,236 to €0
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 | €232,436 | €302,027 | +€69,591 | +29.9% |
| Fixed assets | 21/28 | €216,478 | €272,969 | +€56,491 | +26.1% |
| Tangible fixed assets | 22/27 | €83,368 | €80,699 | -€2,669 | -3.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €83,368 | €80,699 | -€2,669 | -3.2% |
| Financial fixed assets | 28 | €133,110 | €192,270 | +€59,160 | +44.4% |
| Current assets | 29/58 | €15,957 | €29,058 | +€13,100 | +82.1% |
| Amounts receivable within one year | 40/41 | €14,443 | €15,224 | +€781 | +5.4% |
| Trade receivables | 40 | €8,172 | €11,830 | +€3,658 | +44.8% |
| Other amounts receivable | 41 | €6,271 | €3,394 | -€2,877 | -45.9% |
| Cash at bank and in hand | 54/58 | €138 | €29 | -€108 | -78.6% |
| Deferred charges and accrued income | 490/1 | €1,377 | €13,804 | +€12,428 | +902.7% |
| Total equity and liabilities | 10/49 | €232,436 | €302,027 | +€69,591 | +29.9% |
| Equity | 10/15 | €14,959 | -€40,404 | -€55,363 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€5,041 | -€60,404 | -€55,363 | -1098.3% |
| Amounts payable | 17/49 | €217,476 | €342,430 | +€124,954 | +57.5% |
| Amounts payable after more than one year | 17 | - | €115,428 | +€115,428 | |
| Other amounts payable | 178/9 | - | €115,428 | +€115,428 | |
| Amounts payable within one year | 42/48 | €217,405 | €182,003 | -€35,402 | -16.3% |
| Trade debts | 44 | €185,483 | €161,965 | -€23,518 | -12.7% |
| Suppliers | 440/4 | €185,483 | €161,965 | -€23,518 | -12.7% |
| Advances received on contracts in progress | 46 | - | €10,250 | +€10,250 | |
| Taxes, remuneration and social security | 45 | €5,997 | €9,787 | +€3,791 | +63.2% |
| Taxes | 450/3 | €1,459 | €1,458 | -€2 | -0.1% |
| Remuneration and social security | 454/9 | €4,537 | €8,329 | +€3,792 | +83.6% |
| Other amounts payable | 47/48 | €25,925 | €0 | -€25,925 | -100.0% |
| Accrued charges and deferred income | 492/3 | €72 | €45,000 | +€44,928 | +62591.6% |
| Remuneration, social security and pensions | 62 | €39,864 | €67,692 | +€27,828 | +69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €795 | €20,186 | +€19,391 | +2437.6% |
| Other operating charges | 640/8 | €26,058 | €26,952 | +€894 | +3.4% |
| Gross operating margin | 9900 | €83,783 | €73,623 | -€10,160 | -12.1% |
| Operating profit (loss) | 9901 | €17,065 | -€41,207 | -€58,272 | |
| Financial income | 75/76B | €1,236 | €0 | -€1,236 | -100.0% |
| Recurring financial income | 75 | €1,236 | €0 | -€1,236 | -100.0% |
| Financial charges | 65/66B | €15,572 | €13,923 | -€1,648 | -10.6% |
| Recurring financial charges | 65 | €15,572 | €13,923 | -€1,648 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €2,729 | -€55,131 | -€57,860 | |
| Income taxes | 67/77 | €268 | €232 | -€36 | -13.5% |
| Profit (loss) for the period | 9904 | €2,461 | -€55,363 | -€57,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,461 | -€55,363 | -€57,824 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.