CORNELIUS: 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.
CORNELIUS
Largest movements
- Cash +€23,017
up €23,017 (+10.1%), from €227,154 to €250,171
mainly Current portion of long-term debt (+€152,165) and Net result for the year (+€40,949)
- Stocks and contracts -€13,622
down €13,622 (-4.7%), from €287,176 to €273,554
- Debts after one year -€185,000
down €185,000 (-55.4%), from €334,000 to €149,000
- Current portion of long-term debt +€152,165
up €152,165, from €0 to €152,165
- Reserves +€40,949
up €40,949 (+82.8%), from €49,425 to €90,374
- Gross operating margin -€8,538
down €8,538 (-9.4%), from €90,737 to €82,199
- Taxes +€7,851
up €7,851 (+109%), from €7,189 to €15,040
- Financial charges -€6,824
down €6,824 (-23.7%), from €28,808 to €21,984
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 | €532,858 | €543,246 | +€10,388 | +1.9% |
| Fixed assets | 21/28 | €14,146 | €10,586 | -€3,560 | -25.2% |
| Tangible fixed assets | 22/27 | €13,596 | €10,036 | -€3,560 | -26.2% |
| Furniture and vehicles | 24 | €13,596 | €10,036 | -€3,560 | -26.2% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €518,712 | €532,660 | +€13,948 | +2.7% |
| Stocks and contracts in progress | 3 | €287,176 | €273,554 | -€13,622 | -4.7% |
| Stocks | 30/36 | €287,176 | €273,554 | -€13,622 | -4.7% |
| Amounts receivable within one year | 40/41 | €1,334 | €4,889 | +€3,555 | +267% |
| Trade receivables | 40 | €1,334 | €4,889 | +€3,555 | +267% |
| Cash at bank and in hand | 54/58 | €227,154 | €250,171 | +€23,017 | +10.1% |
| Deferred charges and accrued income | 490/1 | €3,049 | €4,047 | +€998 | +32.7% |
| Total equity and liabilities | 10/49 | €532,858 | €543,246 | +€10,388 | +1.9% |
| Equity | 10/15 | €182,925 | €223,874 | +€40,949 | +22.4% |
| Contributions | 10/11 | €133,500 | €133,500 | = | 0.0% |
| Reserves | 13 | €49,425 | €90,374 | +€40,949 | +82.8% |
| Distributable reserves | 133 | €49,425 | €90,374 | +€40,949 | +82.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €349,932 | €319,372 | -€30,560 | -8.7% |
| Amounts payable after more than one year | 17 | €334,000 | €149,000 | -€185,000 | -55.4% |
| Financial debts | 170/4 | €334,000 | €149,000 | -€185,000 | -55.4% |
| Amounts payable within one year | 42/48 | €10,172 | €163,292 | +€153,120 | +1,505% |
| Current portion of amounts payable after more than one year | 42 | €0 | €152,165 | +€152,165 | |
| Trade debts | 44 | €1,191 | €1,075 | -€116 | -9.8% |
| Suppliers | 440/4 | €1,191 | €1,075 | -€116 | -9.8% |
| Taxes, remuneration and social security | 45 | €8,981 | €7,236 | -€1,745 | -19.4% |
| Taxes | 450/3 | €8,981 | €5,736 | -€3,245 | -36.1% |
| Remuneration and social security | 454/9 | €0 | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | - | €2,816 | +€2,816 | |
| Accrued charges and deferred income | 492/3 | €5,760 | €7,080 | +€1,320 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,737 | €3,560 | -€177 | -4.7% |
| Other operating charges | 640/8 | €1,826 | €959 | -€866 | -47.5% |
| Gross operating margin | 9900 | €90,737 | €82,199 | -€8,538 | -9.4% |
| Operating profit (loss) | 9901 | €85,175 | €77,680 | -€7,495 | -8.8% |
| Financial income | 75/76B | €0 | €292 | +€292 | +417,614% |
| Recurring financial income | 75 | €0 | €292 | +€292 | +417,614% |
| Financial charges | 65/66B | €28,808 | €21,984 | -€6,824 | -23.7% |
| Recurring financial charges | 65 | €28,808 | €21,984 | -€6,824 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €56,367 | €55,989 | -€378 | -0.7% |
| Income taxes | 67/77 | €7,189 | €15,040 | +€7,851 | +109% |
| Profit (loss) for the period | 9904 | €49,178 | €40,949 | -€8,229 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,178 | €40,949 | -€8,229 | -16.7% |
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 14 October 2026 via checked.be.