CORMAN CONCEPTS: 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 CONCEPTS
Largest movements
- Receivables within one year +€16,427
up €16,427 (+51.6%), from €31,821 to €48,248
of which Trade receivables: +€16,367
- Stocks and contracts -€10,039
down €10,039 (-19.9%), from €50,395 to €40,356
- Tangible fixed assets -€7,856
down €7,856 (-15.9%), from €49,276 to €41,421
of which Furniture and vehicles: -€4,866
- Cash +€4,744
up €4,744 (+55.3%), from €8,578 to €13,322
mainly Net result for the year (+€18,774) and Tax, wage and social debts (+€12,055)
- Deferred charges and accrued income -€4,743
down €4,743 (-65.1%), from €7,290 to €2,548
- Reserves +€17,500
up €17,500 (+41.8%), from €41,900 to €59,400
- Other debts -€13,823
down €13,823 (-49.5%), from €27,935 to €14,112
- Tax, wage and social debts +€12,055
up €12,055 (+298%), from €4,042 to €16,097
of which Taxes: +€12,167
- Debts after one year -€7,224
no longer reported in 2025 (was €7,224)
- Trade debts -€6,008
down €6,008 (-16.1%), from €37,283 to €31,275
- Gross operating margin +€44,527
up €44,527 (+58.2%), from €76,496 to €121,022
- Staff costs +€18,594
up €18,594 (+33.4%), from €55,660 to €74,253
- Taxes +€11,558
up €11,558, from -€41 to €11,516
- Depreciation -€1,847
down €1,847 (-15.2%), from €12,162 to €10,315
- Other operating charges -€1,348
down €1,348 (-38.6%), from €3,493 to €2,145
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
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 | €185,159 | €183,693 | -€1,467 | -0.8% |
| Fixed assets | 21/28 | €87,075 | €79,220 | -€7,856 | -9.0% |
| Tangible fixed assets | 22/27 | €49,276 | €41,421 | -€7,856 | -15.9% |
| Plant, machinery and equipment | 23 | €1,709 | €905 | -€804 | -47.0% |
| Furniture and vehicles | 24 | €34,483 | €29,616 | -€4,866 | -14.1% |
| Other tangible fixed assets | 26 | €13,084 | €10,899 | -€2,186 | -16.7% |
| Financial fixed assets | 28 | €37,799 | €37,799 | = | 0.0% |
| Current assets | 29/58 | €98,084 | €104,473 | +€6,389 | +6.5% |
| Stocks and contracts in progress | 3 | €50,395 | €40,356 | -€10,039 | -19.9% |
| Stocks | 30/36 | €50,395 | €40,356 | -€10,039 | -19.9% |
| Amounts receivable within one year | 40/41 | €31,821 | €48,248 | +€16,427 | +51.6% |
| Trade receivables | 40 | €31,751 | €48,118 | +€16,367 | +51.5% |
| Other amounts receivable | 41 | €70 | €130 | +€60 | +85.0% |
| Cash at bank and in hand | 54/58 | €8,578 | €13,322 | +€4,744 | +55.3% |
| Deferred charges and accrued income | 490/1 | €7,290 | €2,548 | -€4,743 | -65.1% |
| Total equity and liabilities | 10/49 | €185,159 | €183,693 | -€1,467 | -0.8% |
| Equity | 10/15 | €78,871 | €97,645 | +€18,774 | +23.8% |
| Contributions | 10/11 | €6,333 | €6,333 | = | 0.0% |
| Reserves | 13 | €41,900 | €59,400 | +€17,500 | +41.8% |
| Distributable reserves | 133 | €41,900 | €59,400 | +€17,500 | +41.8% |
| Profit (loss) carried forward | 14 | €30,638 | €31,912 | +€1,274 | +4.2% |
| Amounts payable | 17/49 | €106,288 | €86,048 | -€20,241 | -19.0% |
| Amounts payable after more than one year | 17 | €7,224 | - | -€7,224 | |
| Financial debts | 170/4 | €7,224 | - | -€7,224 | |
| Amounts payable within one year | 42/48 | €99,064 | €86,048 | -€13,017 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €17,511 | €11,564 | -€5,947 | -34.0% |
| Financial debts | 43 | €8,293 | €10,000 | +€1,707 | +20.6% |
| Credit institutions | 430/8 | €8,293 | €10,000 | +€1,707 | +20.6% |
| Trade debts | 44 | €37,283 | €31,275 | -€6,008 | -16.1% |
| Suppliers | 440/4 | €37,283 | €31,275 | -€6,008 | -16.1% |
| Advances received on contracts in progress | 46 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Taxes, remuneration and social security | 45 | €4,042 | €16,097 | +€12,055 | +298% |
| Taxes | 450/3 | €3,467 | €15,634 | +€12,167 | +351% |
| Remuneration and social security | 454/9 | €575 | €463 | -€112 | -19.5% |
| Other amounts payable | 47/48 | €27,935 | €14,112 | -€13,823 | -49.5% |
| Remuneration, social security and pensions | 62 | €55,660 | €74,253 | +€18,594 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,162 | €10,315 | -€1,847 | -15.2% |
| Other operating charges | 640/8 | €3,493 | €2,145 | -€1,348 | -38.6% |
| Non-recurring operating charges | 66A | - | €242 | +€242 | |
| Gross operating margin | 9900 | €76,496 | €121,022 | +€44,527 | +58.2% |
| Operating profit (loss) | 9901 | €5,181 | €34,067 | +€28,886 | +558% |
| Financial income | 75/76B | €1 | €32 | +€31 | +4,390% |
| Recurring financial income | 75 | €1 | €32 | +€31 | +4,390% |
| Financial charges | 65/66B | €4,240 | €3,809 | -€431 | -10.2% |
| Recurring financial charges | 65 | €4,240 | €3,809 | -€431 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €941 | €30,290 | +€29,349 | +3,118% |
| Income taxes | 67/77 | -€41 | €11,516 | +€11,558 | |
| Profit (loss) for the period | 9904 | €983 | €18,774 | +€17,791 | +1,811% |
| Profit (loss) for the period to be appropriated | 9905 | €983 | €18,774 | +€17,791 | +1,811% |
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 31 October 2026 via checked.be.