CORNIL FRERES: 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.
CORNIL FRERES
Largest movements
- Cash +€127,214
up €127,214 (+46.9%), from €271,067 to €398,282
mainly Stocks and contracts (+€102,644) and Other debts (+€46,580)
- Stocks and contracts -€102,644
down €102,644 (-27.1%), from €378,590 to €275,946
- Tangible fixed assets -€32,691
down €32,691 (-8.7%), from €373,907 to €341,216
of which Land and buildings: -€18,836
- Profit (loss) carried forward -€833,248
down €833,248 (-99.9%), from €833,683 to €435
- Reserves +€830,144
up €830,144 (+783%), from €105,991 to €936,135
of which Distributable reserves: +€832,000
- Other debts +€46,580
up €46,580 (+17,122%), from €272 to €46,852
- Debts after one year -€41,351
down €41,351 (-30.9%), from €133,906 to €92,555
- Tax, wage and social debts +€28,199
up €28,199 (+20.4%), from €138,136 to €166,335
of which Remuneration and social security: +€29,554
- Staff costs +€129,340
up €129,340 (+42.2%), from €306,351 to €435,692
- Gross operating margin -€86,559
down €86,559 (-14.6%), from €591,172 to €504,613
- Taxes -€54,290
down €54,290 (-87.2%), from €62,240 to €7,951
- Other operating charges +€24,822
up €24,822 (+415%), from €5,987 to €30,810
- Financial income +€9,051
up €9,051 (+349%), from €2,592 to €11,643
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 | €1,460,088 | €1,453,736 | -€6,353 | -0.4% |
| Fixed assets | 21/28 | €373,907 | €341,216 | -€32,691 | -8.7% |
| Tangible fixed assets | 22/27 | €373,907 | €341,216 | -€32,691 | -8.7% |
| Land and buildings | 22 | €317,170 | €298,335 | -€18,836 | -5.9% |
| Plant, machinery and equipment | 23 | €54,613 | €38,607 | -€16,006 | -29.3% |
| Furniture and vehicles | 24 | €2,124 | €4,275 | +€2,151 | +101% |
| Current assets | 29/58 | €1,086,182 | €1,112,520 | +€26,338 | +2.4% |
| Stocks and contracts in progress | 3 | €378,590 | €275,946 | -€102,644 | -27.1% |
| Stocks | 30/36 | €378,590 | €275,946 | -€102,644 | -27.1% |
| Amounts receivable within one year | 40/41 | €433,339 | €434,670 | +€1,331 | +0.3% |
| Trade receivables | 40 | €411,246 | €413,517 | +€2,271 | +0.6% |
| Other amounts receivable | 41 | €22,092 | €21,153 | -€940 | -4.3% |
| Cash at bank and in hand | 54/58 | €271,067 | €398,282 | +€127,214 | +46.9% |
| Deferred charges and accrued income | 490/1 | €3,186 | €3,622 | +€437 | +13.7% |
| Total equity and liabilities | 10/49 | €1,460,088 | €1,453,736 | -€6,353 | -0.4% |
| Equity | 10/15 | €984,298 | €978,840 | -€5,458 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,991 | €936,135 | +€830,144 | +783% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €104,131 | €102,275 | -€1,856 | -1.8% |
| Distributable reserves | 133 | - | €832,000 | +€832,000 | |
| Profit (loss) carried forward | 14 | €833,683 | €435 | -€833,248 | -99.9% |
| Investment grants | 15 | €26,024 | €23,670 | -€2,354 | -9.0% |
| Provisions and deferred taxes | 16 | €8,044 | €7,425 | -€619 | -7.7% |
| Deferred taxes | 168 | €8,044 | €7,425 | -€619 | -7.7% |
| Amounts payable | 17/49 | €467,747 | €467,471 | -€276 | -0.1% |
| Amounts payable after more than one year | 17 | €133,906 | €92,555 | -€41,351 | -30.9% |
| Financial debts | 170/4 | €133,906 | €92,555 | -€41,351 | -30.9% |
| Amounts payable within one year | 42/48 | €332,559 | €374,895 | +€42,336 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €50,259 | €40,968 | -€9,291 | -18.5% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €43,893 | €20,740 | -€23,153 | -52.7% |
| Suppliers | 440/4 | €43,893 | €20,740 | -€23,153 | -52.7% |
| Taxes, remuneration and social security | 45 | €138,136 | €166,335 | +€28,199 | +20.4% |
| Taxes | 450/3 | €88,307 | €86,952 | -€1,355 | -1.5% |
| Remuneration and social security | 454/9 | €49,829 | €79,383 | +€29,554 | +59.3% |
| Other amounts payable | 47/48 | €272 | €46,852 | +€46,580 | +17,122% |
| Accrued charges and deferred income | 492/3 | €1,283 | €21 | -€1,262 | -98.4% |
| Remuneration, social security and pensions | 62 | €306,351 | €435,692 | +€129,340 | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,583 | €37,470 | -€7,113 | -16.0% |
| Other operating charges | 640/8 | €5,987 | €30,810 | +€24,822 | +415% |
| Gross operating margin | 9900 | €591,172 | €504,613 | -€86,559 | -14.6% |
| Operating profit (loss) | 9901 | €234,250 | €642 | -€233,609 | -99.7% |
| Financial income | 75/76B | €2,592 | €11,643 | +€9,051 | +349% |
| Recurring financial income | 75 | €2,592 | €11,643 | +€9,051 | +349% |
| Financial charges | 65/66B | €13,131 | €8,057 | -€5,074 | -38.6% |
| Recurring financial charges | 65 | €13,131 | €8,057 | -€5,074 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €223,711 | €4,228 | -€219,484 | -98.1% |
| Transfer from deferred taxes | 780 | €1,919 | €619 | -€1,301 | -67.8% |
| Income taxes | 67/77 | €62,240 | €7,951 | -€54,290 | -87.2% |
| Profit (loss) for the period | 9904 | €163,391 | -€3,104 | -€166,495 | |
| Transfer from tax-exempt reserves | 789 | €5,758 | €1,856 | -€3,902 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €169,149 | -€1,248 | -€170,397 |
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 25 October 2026 via checked.be.