CORMAN: 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.
CORMAN
Largest movements
- Tangible fixed assets -€11,579
down €11,579 (-30.9%), from €37,415 to €25,836
of which Land and buildings: -€9,139
- Profit (loss) carried forward -€11,579
down €11,579 (-31.4%), from -€36,903 to -€48,482
- Short-term financial debts -€9,125
no longer reported in 2025 (was €9,125)
- Other debts +€9,125
up €9,125 (+94.6%), from €9,650 to €18,775
- Gross operating margin -€5,510
no longer reported in 2025 (was €5,510)
- Financial charges -€1,583
no longer reported in 2025 (was €1,583)
- Other operating charges -€1,576
no longer reported in 2025 (was €1,576)
- Depreciation -€901
down €901 (-7.2%), from €12,480 to €11,579
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,987 | €28,409 | -€11,579 | -29.0% |
| Fixed assets | 21/28 | €37,415 | €25,836 | -€11,579 | -30.9% |
| Tangible fixed assets | 22/27 | €37,415 | €25,836 | -€11,579 | -30.9% |
| Land and buildings | 22 | €34,975 | €25,836 | -€9,139 | -26.1% |
| Plant, machinery and equipment | 23 | €1,406 | - | -€1,406 | |
| Leasing and similar rights | 25 | €1,034 | - | -€1,034 | |
| Current assets | 29/58 | €2,573 | €2,573 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,573 | €2,573 | = | 0.0% |
| Trade receivables | 40 | €636 | €636 | = | 0.0% |
| Other amounts receivable | 41 | €1,936 | €1,936 | = | 0.0% |
| Total equity and liabilities | 10/49 | €39,987 | €28,409 | -€11,579 | -29.0% |
| Equity | 10/15 | -€7,759 | -€19,337 | -€11,579 | -149% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €10,552 | €10,552 | = | 0.0% |
| Non-distributable reserves | 130/1 | €552 | €552 | = | 0.0% |
| Reserves not available under the articles | 1311 | €552 | €552 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,903 | -€48,482 | -€11,579 | -31.4% |
| Amounts payable | 17/49 | €47,746 | €47,746 | = | 0.0% |
| Amounts payable after more than one year | 17 | €5,350 | €5,350 | = | 0.0% |
| Financial debts | 170/4 | €5,350 | €5,350 | = | 0.0% |
| Amounts payable within one year | 42/48 | €42,396 | €42,396 | = | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €20,471 | €20,471 | = | 0.0% |
| Financial debts | 43 | €9,125 | - | -€9,125 | |
| Credit institutions | 430/8 | €9,125 | - | -€9,125 | |
| Taxes, remuneration and social security | 45 | €3,150 | €3,150 | = | 0.0% |
| Taxes | 450/3 | €3,000 | €3,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €150 | €150 | = | 0.0% |
| Other amounts payable | 47/48 | €9,650 | €18,775 | +€9,125 | +94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,480 | €11,579 | -€901 | -7.2% |
| Other operating charges | 640/8 | €1,576 | - | -€1,576 | |
| Gross operating margin | 9900 | €5,510 | - | -€5,510 | |
| Operating profit (loss) | 9901 | -€8,546 | -€11,579 | -€3,032 | -35.5% |
| Financial charges | 65/66B | €1,583 | - | -€1,583 | |
| Recurring financial charges | 65 | €1,583 | - | -€1,583 | |
| Profit (loss) for the period before taxes | 9903 | -€10,130 | -€11,579 | -€1,449 | -14.3% |
| Profit (loss) for the period | 9904 | -€10,130 | -€11,579 | -€1,449 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,130 | -€11,579 | -€1,449 | -14.3% |
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 15 October 2026 via checked.be.