CORPO: 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.
What changed
CORPO
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€29,135
2024 · €195,449-€166,314
Equity
€392,033
2024 · €362,898+€29,135
Cash
€143,515
2024 · €31,827+€111,688
Balance sheet total
€3.3m
2024 · €3.0m+€326,661
Largest movements
Assets
- Tangible fixed assets +€130,332
up €130,332 (+5.6%), from €2.3m to €2.5m
of which Leasing and similar rights: +€174,854
- Stocks and contracts +€112,488
up €112,488 (+37.4%), from €300,813 to €413,301
of which Contracts in progress: +€88,731
- Cash +€111,688
up €111,688 (+351%), from €31,827 to €143,515
mainly Debts after one year (+€172,016) and Depreciation (+€159,751)
Equity and liabilities
- Debts after one year +€172,016
up €172,016 (+8.4%), from €2.1m to €2.2m
- Short-term financial debts +€100,000
up €100,000 (+66.7%), from €150,000 to €250,000
- Current portion of long-term debt +€42,932
up €42,932 (+38.3%), from €112,103 to €155,035
Income statement
- Staff costs +€360,914
up €360,914 (+44.5%), from €811,516 to €1.2m
- Gross operating margin +€245,627
up €245,627 (+19.9%), from €1.2m to €1.5m
- Depreciation +€53,261
up €53,261 (+50.0%), from €106,489 to €159,751
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.
Result 2024
€195,449
Gross operating margin
+€245,627
Staff costs
-€360,914
Depreciation
-€53,261
Write-downs
+€5,468
Other operating charges
-€188
Other operating items
+€3,848
Financial income
-€3,688
Financial charges
-€14,265
Taxes
+€11,060
Result 2025
€29,135
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€69,906
Investment
-€273,166
Financing
+€314,948
Cash 2024
€31,827
From operations (derived)
+€69,906
Net result for the year
+€29,135
Depreciation
+€159,751
Stocks and contracts
-€112,488
Receivables within one year
+€31,109
Deferred charges and accrued income
-€20,179
Trade debts
-€6,766
Tax, wage and social debts
+€1,481
Advances received
+€12,500
Other debts
-€30,000
Accrued charges and deferred income
+€5,363
Investment (derived)
-€273,166
Investment in fixed assets (net)
-€273,166
Financing
+€314,948
Debts after one year
+€172,016
Current portion of long-term debt
+€42,932
Short-term financial debts
+€100,000
Cash 2025
€143,515
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,022,594 | €3,349,256 | +€326,661 | +10.8% |
| Fixed assets | 21/28 | €2,423,746 | €2,537,161 | +€113,415 | +4.7% |
| Intangible fixed assets | 21 | €89,313 | €75,555 | -€13,758 | -15.4% |
| Tangible fixed assets | 22/27 | €2,328,523 | €2,458,855 | +€130,332 | +5.6% |
| Land and buildings | 22 | €2,136,639 | €2,114,217 | -€22,422 | -1.0% |
| Plant, machinery and equipment | 23 | €99,073 | €92,813 | -€6,260 | -6.3% |
| Furniture and vehicles | 24 | €42,470 | €26,630 | -€15,840 | -37.3% |
| Leasing and similar rights | 25 | €50,341 | €225,196 | +€174,854 | +347% |
| Financial fixed assets | 28 | €5,909 | €2,750 | -€3,159 | -53.5% |
| Current assets | 29/58 | €598,849 | €812,095 | +€213,246 | +35.6% |
| Stocks and contracts in progress | 3 | €300,813 | €413,301 | +€112,488 | +37.4% |
| Stocks | 30/36 | €215,517 | €239,273 | +€23,756 | +11.0% |
| Contracts in progress | 37 | €85,296 | €174,028 | +€88,731 | +104% |
| Amounts receivable within one year | 40/41 | €251,808 | €220,700 | -€31,109 | -12.4% |
| Trade receivables | 40 | €221,199 | €193,442 | -€27,757 | -12.5% |
| Other amounts receivable | 41 | €30,609 | €27,257 | -€3,352 | -10.9% |
| Cash at bank and in hand | 54/58 | €31,827 | €143,515 | +€111,688 | +351% |
| Deferred charges and accrued income | 490/1 | €14,400 | €34,579 | +€20,179 | +140% |
| Total equity and liabilities | 10/49 | €3,022,594 | €3,349,256 | +€326,661 | +10.8% |
| Equity | 10/15 | €362,898 | €392,033 | +€29,135 | +8.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €332,898 | €362,033 | +€29,135 | +8.8% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Distributable reserves | 133 | €206,598 | €235,733 | +€29,135 | +14.1% |
| Amounts payable | 17/49 | €2,659,696 | €2,957,222 | +€297,526 | +11.2% |
| Amounts payable after more than one year | 17 | €2,051,803 | €2,223,819 | +€172,016 | +8.4% |
| Financial debts | 170/4 | €2,051,803 | €2,223,819 | +€172,016 | +8.4% |
| Amounts payable within one year | 42/48 | €601,531 | €721,678 | +€120,147 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €112,103 | €155,035 | +€42,932 | +38.3% |
| Financial debts | 43 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Credit institutions | 430/8 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Trade debts | 44 | €307,371 | €300,605 | -€6,766 | -2.2% |
| Suppliers | 440/4 | €307,371 | €300,605 | -€6,766 | -2.2% |
| Advances received on contracts in progress | 46 | - | €12,500 | +€12,500 | |
| Taxes, remuneration and social security | 45 | €2,058 | €3,538 | +€1,481 | +72.0% |
| Taxes | 450/3 | €2,058 | €3,538 | +€1,481 | +72.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100% |
| Accrued charges and deferred income | 492/3 | €6,362 | €11,725 | +€5,363 | +84.3% |
| Non-recurring operating income | 76A | €400 | €0 | -€400 | -100% |
| Remuneration, social security and pensions | 62 | €811,516 | €1,172,430 | +€360,914 | +44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,489 | €159,751 | +€53,261 | +50.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,468 | €0 | -€5,468 | -100% |
| Other operating charges | 640/8 | €1,630 | €1,818 | +€188 | +11.6% |
| Non-recurring operating charges | 66A | €3,848 | €0 | -€3,848 | -100% |
| Gross operating margin | 9900 | €1,237,267 | €1,482,894 | +€245,627 | +19.9% |
| Operating profit (loss) | 9901 | €308,316 | €148,895 | -€159,421 | -51.7% |
| Financial income | 75/76B | €10,643 | €6,955 | -€3,688 | -34.7% |
| Recurring financial income | 75 | €10,643 | €6,955 | -€3,688 | -34.7% |
| Financial charges | 65/66B | €108,452 | €122,717 | +€14,265 | +13.2% |
| Recurring financial charges | 65 | €108,452 | €122,717 | +€14,265 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €210,507 | €33,132 | -€177,374 | -84.3% |
| Income taxes | 67/77 | €15,058 | €3,997 | -€11,060 | -73.5% |
| Profit (loss) for the period | 9904 | €195,449 | €29,135 | -€166,314 | -85.1% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €0 | -€126,300 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €69,149 | €29,135 | -€40,014 | -57.9% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.