CORSA RESEARCH: 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.
CORSA RESEARCH
Largest movements
- Cash +€45,135
up €45,135 (+74.7%), from €60,396 to €105,532
mainly Net result for the year (+€45,359) and Other debts (+€22,095)
- Tangible fixed assets +€38,949
up €38,949 (+97.0%), from €40,164 to €79,113
of which Other tangible fixed assets: +€25,352
- Receivables within one year -€6,611
down €6,611 (-46.0%), from €14,381 to €7,770
of which Other amounts receivable: -€5,108
- Stocks and contracts +€3,195
up €3,195 (+8.1%), from €39,610 to €42,804
- Reserves +€45,000
up €45,000 (+274%), from €16,427 to €61,427
of which Distributable reserves: +€45,000
- Other debts +€22,095
up €22,095 (+37.8%), from €58,517 to €80,612
- Tax, wage and social debts +€12,135
up €12,135 (+714%), from €1,700 to €13,835
- Gross operating margin +€25,797
up €25,797 (+30.2%), from €85,438 to €111,234
- Taxes +€10,633
up €10,633 (+92.0%), from €11,554 to €22,187
- Depreciation +€2,631
up €2,631 (+30.3%), from €8,690 to €11,321
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.
Derived cash bridge
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 | €156,032 | €236,700 | +€80,667 | +51.7% |
| Fixed assets | 21/28 | €41,645 | €80,593 | +€38,949 | +93.5% |
| Tangible fixed assets | 22/27 | €40,164 | €79,113 | +€38,949 | +97.0% |
| Plant, machinery and equipment | 23 | €24,173 | €35,343 | +€11,170 | +46.2% |
| Furniture and vehicles | 24 | €1,097 | €3,524 | +€2,427 | +221% |
| Other tangible fixed assets | 26 | €14,894 | €40,246 | +€25,352 | +170% |
| Financial fixed assets | 28 | €1,481 | €1,481 | = | 0.0% |
| Current assets | 29/58 | €114,387 | €156,106 | +€41,719 | +36.5% |
| Stocks and contracts in progress | 3 | €39,610 | €42,804 | +€3,195 | +8.1% |
| Stocks | 30/36 | €39,610 | €42,804 | +€3,195 | +8.1% |
| Amounts receivable within one year | 40/41 | €14,381 | €7,770 | -€6,611 | -46.0% |
| Trade receivables | 40 | €5,935 | €4,432 | -€1,503 | -25.3% |
| Other amounts receivable | 41 | €8,446 | €3,338 | -€5,108 | -60.5% |
| Cash at bank and in hand | 54/58 | €60,396 | €105,532 | +€45,135 | +74.7% |
| Total equity and liabilities | 10/49 | €156,032 | €236,700 | +€80,667 | +51.7% |
| Equity | 10/15 | €92,192 | €137,551 | +€45,359 | +49.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €16,427 | €61,427 | +€45,000 | +274% |
| Tax-exempt reserves | 132 | €7,570 | €7,570 | = | 0.0% |
| Distributable reserves | 133 | €8,858 | €53,858 | +€45,000 | +508% |
| Profit (loss) carried forward | 14 | €57,172 | €57,531 | +€359 | +0.6% |
| Amounts payable | 17/49 | €63,841 | €99,149 | +€35,309 | +55.3% |
| Amounts payable within one year | 42/48 | €63,841 | €99,149 | +€35,309 | +55.3% |
| Trade debts | 44 | €3,623 | €4,702 | +€1,079 | +29.8% |
| Suppliers | 440/4 | €3,623 | €4,702 | +€1,079 | +29.8% |
| Taxes, remuneration and social security | 45 | €1,700 | €13,835 | +€12,135 | +714% |
| Taxes | 450/3 | €1,700 | €13,835 | +€12,135 | +714% |
| Other amounts payable | 47/48 | €58,517 | €80,612 | +€22,095 | +37.8% |
| Remuneration, social security and pensions | 62 | €28,748 | €29,462 | +€714 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,690 | €11,321 | +€2,631 | +30.3% |
| Other operating charges | 640/8 | €1,594 | €1,101 | -€493 | -30.9% |
| Gross operating margin | 9900 | €85,438 | €111,234 | +€25,797 | +30.2% |
| Operating profit (loss) | 9901 | €46,406 | €69,351 | +€22,944 | +49.4% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €998 | €1,832 | +€834 | +83.5% |
| Recurring financial charges | 65 | €998 | €1,832 | +€834 | +83.5% |
| Profit (loss) for the period before taxes | 9903 | €45,408 | €67,546 | +€22,138 | +48.8% |
| Income taxes | 67/77 | €11,554 | €22,187 | +€10,633 | +92.0% |
| Profit (loss) for the period | 9904 | €33,854 | €45,359 | +€11,504 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,854 | €45,359 | +€11,504 | +34.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.