CORNET SEATING SYSTEMS: what changed
CORNET SEATING SYSTEMS
Largest movements
- Tangible fixed assets -€187,593
down €187,593 (-94.7%), from €198,098 to €10,505
of which Land and buildings: -€178,084
- Receivables within one year -€139,676
down €139,676 (-55.8%), from €250,323 to €110,647
of which Trade receivables: -€73,413
- Cash +€72,154
up €72,154 (+329%), from €21,938 to €94,092
mainly Investment in fixed assets (net) (+€178,084) and Receivables within one year (+€139,676)
- Deferred charges and accrued income -€31,913
down €31,913 (-41.4%), from €77,027 to €45,115
- Reserves -€182,603
down €182,603 (-57.4%), from €317,957 to €135,354
of which Distributable reserves: -€107,289
- Short-term financial debts -€33,594
down €33,594 (-88.4%), from €38,000 to €4,406
- Other debts -€31,549
down €31,549 (-91.0%), from €34,688 to €3,139
- Contributions -€22,079
down €22,079 (-49.1%), from €45,000 to €22,921
- Tax, wage and social debts -€15,913
down €15,913 (-35.0%), from €45,487 to €29,575
of which Taxes: -€8,887
- Gross operating margin -€125,071
down €125,071 (-58.1%), from €215,447 to €90,377
- Staff costs -€80,207
down €80,207 (-48.0%), from €167,151 to €86,944
- Depreciation -€13,576
down €13,576 (-55.8%), from €24,335 to €10,759
- Financial income -€2,231
down €2,231 (-26.3%), from €8,473 to €6,242
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €598,527 | €314,063 | -€284,464 | -47.5% |
| Fixed assets | 21/28 | €201,575 | €12,732 | -€188,843 | -93.7% |
| Intangible fixed assets | 21 | €2,651 | €1,401 | -€1,250 | -47.2% |
| Tangible fixed assets | 22/27 | €198,098 | €10,505 | -€187,593 | -94.7% |
| Land and buildings | 22 | €178,084 | - | -€178,084 | |
| Plant, machinery and equipment | 23 | €18,759 | €10,152 | -€8,607 | -45.9% |
| Furniture and vehicles | 24 | €1,254 | €353 | -€901 | -71.9% |
| Financial fixed assets | 28 | €826 | €826 | = | 0.0% |
| Current assets | 29/58 | €396,953 | €301,332 | -€95,621 | -24.1% |
| Stocks and contracts in progress | 3 | €47,665 | €51,478 | +€3,814 | +8.0% |
| Stocks | 30/36 | €45,341 | €51,478 | +€6,137 | +13.5% |
| Contracts in progress | 37 | €2,324 | - | -€2,324 | |
| Amounts receivable within one year | 40/41 | €250,323 | €110,647 | -€139,676 | -55.8% |
| Trade receivables | 40 | €92,358 | €18,945 | -€73,413 | -79.5% |
| Other amounts receivable | 41 | €157,965 | €91,701 | -€66,263 | -41.9% |
| Cash at bank and in hand | 54/58 | €21,938 | €94,092 | +€72,154 | +329% |
| Deferred charges and accrued income | 490/1 | €77,027 | €45,115 | -€31,913 | -41.4% |
| Total equity and liabilities | 10/49 | €598,527 | €314,063 | -€284,464 | -47.5% |
| Equity | 10/15 | €362,957 | €158,275 | -€204,682 | -56.4% |
| Contributions | 10/11 | €45,000 | €22,921 | -€22,079 | -49.1% |
| Reserves | 13 | €317,957 | €135,354 | -€182,603 | -57.4% |
| Tax-exempt reserves | 132 | €75,313 | - | -€75,313 | |
| Distributable reserves | 133 | €242,644 | €135,354 | -€107,289 | -44.2% |
| Amounts payable | 17/49 | €235,570 | €155,788 | -€79,782 | -33.9% |
| Amounts payable after more than one year | 17 | €21,214 | €13,110 | -€8,104 | -38.2% |
| Financial debts | 170/4 | €21,214 | €13,110 | -€8,104 | -38.2% |
| Amounts payable within one year | 42/48 | €207,021 | €137,614 | -€69,407 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €8,629 | €8,773 | +€144 | +1.7% |
| Financial debts | 43 | €38,000 | €4,406 | -€33,594 | -88.4% |
| Credit institutions | 430/8 | €38,000 | €4,406 | -€33,594 | -88.4% |
| Trade debts | 44 | €80,217 | €91,721 | +€11,504 | +14.3% |
| Suppliers | 440/4 | €80,217 | €91,721 | +€11,504 | +14.3% |
| Taxes, remuneration and social security | 45 | €45,487 | €29,575 | -€15,913 | -35.0% |
| Taxes | 450/3 | €32,400 | €23,513 | -€8,887 | -27.4% |
| Remuneration and social security | 454/9 | €13,087 | €6,061 | -€7,026 | -53.7% |
| Other amounts payable | 47/48 | €34,688 | €3,139 | -€31,549 | -91.0% |
| Accrued charges and deferred income | 492/3 | €7,336 | €5,064 | -€2,271 | -31.0% |
| Remuneration, social security and pensions | 62 | €167,151 | €86,944 | -€80,207 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,335 | €10,759 | -€13,576 | -55.8% |
| Other operating charges | 640/8 | €15,161 | €15,597 | +€436 | +2.9% |
| Gross operating margin | 9900 | €215,447 | €90,377 | -€125,071 | -58.1% |
| Operating profit (loss) | 9901 | €8,800 | -€22,923 | -€31,723 | |
| Financial income | 75/76B | €8,473 | €6,242 | -€2,231 | -26.3% |
| Recurring financial income | 75 | €8,473 | €6,242 | -€2,231 | -26.3% |
| Financial charges | 65/66B | €7,237 | €5,333 | -€1,904 | -26.3% |
| Recurring financial charges | 65 | €7,237 | €5,333 | -€1,904 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €10,036 | -€22,014 | -€32,050 | |
| Income taxes | 67/77 | €3,030 | €4,583 | +€1,554 | +51.3% |
| Profit (loss) for the period | 9904 | €7,006 | -€26,598 | -€33,603 | |
| Transfer from tax-exempt reserves | 789 | - | €38,361 | +€38,361 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,006 | €11,763 | +€4,758 | +67.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.