CORPAD: what changed
Two fiscal 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.
CORPAD
Largest movements
- Receivables within one year +€50,069
up €50,069 (+78.3%), from €63,934 to €114,003
of which Trade receivables: +€44,768
- Financial fixed assets +€40,250
up €40,250 (+7.3%), from €550,000 to €590,250
- Tangible fixed assets -€38,084
down €38,084 (-3.8%), from €1.0m to €974,403
of which Land and buildings: -€37,533
- Short-term financial debts -€247,661
down €247,661 (-97.1%), from €254,962 to €7,301
- Other debts +€198,384
up €198,384 (+86.3%), from €229,892 to €428,276
- Reserves +€46,148
up €46,148 (+14.1%), from €327,605 to €373,753
of which Distributable reserves: +€55,695
- Current portion of long-term debt +€32,172
up €32,172 (+37.3%), from €86,197 to €118,368
- Tax, wage and social debts +€19,605
up €19,605 (+47.2%), from €41,494 to €61,098
- Gross operating margin +€78,182
up €78,182 (+115.3%), from €67,817 to €145,998
- Taxes +€24,382
up €24,382 (+358.2%), from €6,807 to €31,189
- Depreciation +€3,254
up €3,254 (+9.5%), from €34,279 to €37,533
- Financial charges +€2,407
up €2,407 (+7.0%), from €34,312 to €36,719
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,846,212 | €1,891,024 | +€44,812 | +2.4% |
| Fixed assets | 21/28 | €1,562,487 | €1,564,653 | +€2,166 | +0.1% |
| Tangible fixed assets | 22/27 | €1,012,487 | €974,403 | -€38,084 | -3.8% |
| Land and buildings | 22 | €1,010,237 | €972,705 | -€37,533 | -3.7% |
| Other tangible fixed assets | 26 | €2,250 | €1,698 | -€552 | -24.5% |
| Financial fixed assets | 28 | €550,000 | €590,250 | +€40,250 | +7.3% |
| Current assets | 29/58 | €283,725 | €326,371 | +€42,646 | +15.0% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,934 | €114,003 | +€50,069 | +78.3% |
| Trade receivables | 40 | €41,821 | €86,589 | +€44,768 | +107.0% |
| Other amounts receivable | 41 | €22,113 | €27,414 | +€5,301 | +24.0% |
| Current investments | 50/53 | €1,309 | €1,309 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,775 | €5 | -€5,770 | -99.9% |
| Deferred charges and accrued income | 490/1 | €12,707 | €11,054 | -€1,653 | -13.0% |
| Total equity and liabilities | 10/49 | €1,846,212 | €1,891,024 | +€44,812 | +2.4% |
| Equity | 10/15 | €370,805 | €416,953 | +€46,148 | +12.4% |
| Contributions | 10/11 | €43,200 | €43,200 | = | 0.0% |
| Outside capital | 11 | €43,200 | - | -€43,200 | |
| Other | 1109/19 | €43,200 | - | -€43,200 | |
| Reserves | 13 | €327,605 | €373,753 | +€46,148 | +14.1% |
| Non-distributable reserves | 130/1 | €4,320 | €4,320 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,320 | €4,320 | = | 0.0% |
| Tax-exempt reserves | 132 | €241,512 | €231,965 | -€9,547 | -4.0% |
| Distributable reserves | 133 | €81,773 | €137,469 | +€55,695 | +68.1% |
| Provisions and deferred taxes | 16 | €60,378 | €57,991 | -€2,387 | -4.0% |
| Deferred taxes | 168 | €60,378 | €57,991 | -€2,387 | -4.0% |
| Amounts payable | 17/49 | €1,415,030 | €1,416,079 | +€1,050 | +0.1% |
| Amounts payable after more than one year | 17 | €742,395 | €739,574 | -€2,821 | -0.4% |
| Financial debts | 170/4 | €742,395 | €739,574 | -€2,821 | -0.4% |
| Amounts payable within one year | 42/48 | €668,021 | €671,054 | +€3,033 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €86,197 | €118,368 | +€32,172 | +37.3% |
| Financial debts | 43 | €254,962 | €7,301 | -€247,661 | -97.1% |
| Credit institutions | 430/8 | €254,962 | €7,301 | -€247,661 | -97.1% |
| Trade debts | 44 | €55,477 | €56,011 | +€534 | +1.0% |
| Suppliers | 440/4 | €55,477 | €56,011 | +€534 | +1.0% |
| Taxes, remuneration and social security | 45 | €41,494 | €61,098 | +€19,605 | +47.2% |
| Taxes | 450/3 | €41,494 | €61,098 | +€19,605 | +47.2% |
| Other amounts payable | 47/48 | €229,892 | €428,276 | +€198,384 | +86.3% |
| Accrued charges and deferred income | 492/3 | €4,614 | €5,452 | +€838 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,279 | €37,533 | +€3,254 | +9.5% |
| Other operating charges | 640/8 | €4,783 | €4,573 | -€210 | -4.4% |
| Non-recurring operating charges | 66A | - | €552 | +€552 | |
| Gross operating margin | 9900 | €67,817 | €145,998 | +€78,182 | +115.3% |
| Operating profit (loss) | 9901 | €28,755 | €103,341 | +€74,585 | +259.4% |
| Financial income | 75/76B | €7,197 | €8,329 | +€1,132 | +15.7% |
| Recurring financial income | 75 | €7,197 | €8,329 | +€1,132 | +15.7% |
| Financial charges | 65/66B | €34,312 | €36,719 | +€2,407 | +7.0% |
| Recurring financial charges | 65 | €34,312 | €36,719 | +€2,407 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €1,641 | €74,951 | +€73,310 | +4468.4% |
| Transfer from deferred taxes | 780 | €2,477 | €2,387 | -€90 | -3.7% |
| Income taxes | 67/77 | €6,807 | €31,189 | +€24,382 | +358.2% |
| Profit (loss) for the period | 9904 | -€2,689 | €46,148 | +€48,838 | |
| Transfer from tax-exempt reserves | 789 | €9,909 | €9,547 | -€362 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,220 | €55,695 | +€48,476 | +671.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.