Cornet & Renard: 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.
Cornet & Renard
Largest movements
- Cash -€90,260
down €90,260 (-33.5%), from €269,680 to €179,421
mainly Contributions, distributions and other (-€130,677) and Other debts (-€25,950)
- Receivables within one year +€9,411
up €9,411 (+21.6%), from €43,539 to €52,950
of which Other amounts receivable: +€4,984
- Reserves -€42,115
down €42,115 (-24.1%), from €174,625 to €132,510
- Other debts -€25,950
down €25,950 (-25.6%), from €101,228 to €75,277
- Tax, wage and social debts -€7,602
down €7,602 (-22.7%), from €33,467 to €25,865
- Trade debts -€5,867
down €5,867 (-71.7%), from €8,182 to €2,315
- Gross operating margin -€40,736
down €40,736 (-26.2%), from €155,572 to €114,835
- Taxes -€9,626
down €9,626 (-28.6%), from €33,702 to €24,075
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 | €340,502 | €258,967 | -€81,535 | -23.9% |
| Fixed assets | 21/28 | €21,900 | €20,417 | -€1,484 | -6.8% |
| Tangible fixed assets | 22/27 | €1,900 | €417 | -€1,484 | -78.1% |
| Plant, machinery and equipment | 23 | €1,900 | €417 | -€1,484 | -78.1% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €318,602 | €238,550 | -€80,051 | -25.1% |
| Amounts receivable within one year | 40/41 | €43,539 | €52,950 | +€9,411 | +21.6% |
| Trade receivables | 40 | €41,188 | €45,615 | +€4,427 | +10.7% |
| Other amounts receivable | 41 | €2,351 | €7,336 | +€4,984 | +212.0% |
| Cash at bank and in hand | 54/58 | €269,680 | €179,421 | -€90,260 | -33.5% |
| Deferred charges and accrued income | 490/1 | €5,382 | €6,179 | +€797 | +14.8% |
| Total equity and liabilities | 10/49 | €340,502 | €258,967 | -€81,535 | -23.9% |
| Equity | 10/15 | €197,625 | €155,510 | -€42,115 | -21.3% |
| Contributions | 10/11 | €23,000 | €23,000 | = | 0.0% |
| Reserves | 13 | €174,625 | €132,510 | -€42,115 | -24.1% |
| Distributable reserves | 133 | €174,625 | €132,510 | -€42,115 | -24.1% |
| Amounts payable | 17/49 | €142,877 | €103,457 | -€39,420 | -27.6% |
| Amounts payable within one year | 42/48 | €142,877 | €103,457 | -€39,420 | -27.6% |
| Trade debts | 44 | €8,182 | €2,315 | -€5,867 | -71.7% |
| Suppliers | 440/4 | €8,182 | €2,315 | -€5,867 | -71.7% |
| Taxes, remuneration and social security | 45 | €33,467 | €25,865 | -€7,602 | -22.7% |
| Taxes | 450/3 | €33,467 | €25,865 | -€7,602 | -22.7% |
| Other amounts payable | 47/48 | €101,228 | €75,277 | -€25,950 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,567 | €1,484 | -€1,083 | -42.2% |
| Other operating charges | 640/8 | €902 | €991 | +€89 | +9.9% |
| Gross operating margin | 9900 | €155,572 | €114,835 | -€40,736 | -26.2% |
| Operating profit (loss) | 9901 | €152,103 | €112,360 | -€39,743 | -26.1% |
| Financial income | 75/76B | €764 | €347 | -€416 | -54.5% |
| Recurring financial income | 75 | €764 | €347 | -€416 | -54.5% |
| Financial charges | 65/66B | €74 | €70 | -€3 | -4.3% |
| Recurring financial charges | 65 | €74 | €70 | -€3 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €152,793 | €112,637 | -€40,156 | -26.3% |
| Income taxes | 67/77 | €33,702 | €24,075 | -€9,626 | -28.6% |
| Profit (loss) for the period | 9904 | €119,091 | €88,562 | -€30,530 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €119,091 | €88,562 | -€30,530 | -25.6% |
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 12 October 2026 via checked.be.