CORSERCO: 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.
CORSERCO
Largest movements
- Receivables within one year +€248,576
up €248,576 (+127%), from €195,471 to €444,048
of which Trade receivables: +€209,758
- Tangible fixed assets +€96,622
up €96,622 (+192%), from €50,299 to €146,921
of which Furniture and vehicles: +€62,737
- Cash +€74,000
new in 2025: €74,000
mainly Trade debts (+€274,834) and Net result for the year (+€79,868)
- Stocks and contracts +€17,637
up €17,637 (+35.8%), from €49,306 to €66,943
- Trade debts +€274,834
up €274,834 (+180%), from €152,573 to €427,407
of which Suppliers: +€245,438
- Debts after one year +€60,951
up €60,951 (+305%), from €19,953 to €80,904
- Reserves +€60,868
up €60,868 (+124%), from €49,264 to €110,132
- Short-term financial debts -€43,151
no longer reported in 2025 (was €43,151)
- Tax, wage and social debts +€37,455
up €37,455 (+234%), from €15,991 to €53,447
of which Taxes: +€28,486
- Gross operating margin +€188,044
up €188,044 (+336%), from €55,987 to €244,031
- Staff costs +€57,439
up €57,439 (+706%), from €8,132 to €65,571
- Taxes +€31,198
up €31,198 (+302%), from €10,318 to €41,515
- Financial charges +€22,088
up €22,088 (+836%), from €2,643 to €24,731
- Depreciation +€18,542
up €18,542 (+216%), from €8,577 to €27,119
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 | €306,663 | €746,222 | +€439,559 | +143% |
| Fixed assets | 21/28 | €56,484 | €152,806 | +€96,322 | +171% |
| Intangible fixed assets | 21 | €1,270 | €970 | -€300 | -23.6% |
| Tangible fixed assets | 22/27 | €50,299 | €146,921 | +€96,622 | +192% |
| Plant, machinery and equipment | 23 | €17,627 | €44,437 | +€26,810 | +152% |
| Furniture and vehicles | 24 | €19,685 | €82,423 | +€62,737 | +319% |
| Leasing and similar rights | 25 | €12,987 | €18,805 | +€5,818 | +44.8% |
| Other tangible fixed assets | 26 | - | €1,256 | +€1,256 | |
| Financial fixed assets | 28 | €4,915 | €4,915 | = | 0.0% |
| Current assets | 29/58 | €250,179 | €593,416 | +€343,237 | +137% |
| Stocks and contracts in progress | 3 | €49,306 | €66,943 | +€17,637 | +35.8% |
| Stocks | 30/36 | €49,306 | €66,943 | +€17,637 | +35.8% |
| Amounts receivable within one year | 40/41 | €195,471 | €444,048 | +€248,576 | +127% |
| Trade receivables | 40 | €140,868 | €350,627 | +€209,758 | +149% |
| Other amounts receivable | 41 | €54,603 | €93,421 | +€38,818 | +71.1% |
| Cash at bank and in hand | 54/58 | - | €74,000 | +€74,000 | |
| Deferred charges and accrued income | 490/1 | €5,402 | €8,426 | +€3,024 | +56.0% |
| Total equity and liabilities | 10/49 | €306,663 | €746,222 | +€439,559 | +143% |
| Equity | 10/15 | €59,464 | €120,332 | +€60,868 | +102% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €49,264 | €110,132 | +€60,868 | +124% |
| Distributable reserves | 133 | €49,264 | €110,132 | +€60,868 | +124% |
| Amounts payable | 17/49 | €247,199 | €625,891 | +€378,691 | +153% |
| Amounts payable after more than one year | 17 | €19,953 | €80,904 | +€60,951 | +305% |
| Financial debts | 170/4 | €19,953 | €80,904 | +€60,951 | +305% |
| Amounts payable within one year | 42/48 | €226,499 | €544,910 | +€318,411 | +141% |
| Current portion of amounts payable after more than one year | 42 | €14,783 | €45,056 | +€30,273 | +205% |
| Financial debts | 43 | €43,151 | - | -€43,151 | |
| Credit institutions | 430/8 | €43,151 | - | -€43,151 | |
| Trade debts | 44 | €152,573 | €427,407 | +€274,834 | +180% |
| Suppliers | 440/4 | €152,573 | €398,011 | +€245,438 | +161% |
| Bills of exchange payable | 441 | - | €29,396 | +€29,396 | |
| Taxes, remuneration and social security | 45 | €15,991 | €53,447 | +€37,455 | +234% |
| Taxes | 450/3 | €15,959 | €44,445 | +€28,486 | +178% |
| Remuneration and social security | 454/9 | €32 | €9,001 | +€8,969 | +28,038% |
| Other amounts payable | 47/48 | - | €19,000 | +€19,000 | |
| Accrued charges and deferred income | 492/3 | €748 | €77 | -€671 | -89.7% |
| Remuneration, social security and pensions | 62 | €8,132 | €65,571 | +€57,439 | +706% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,577 | €27,119 | +€18,542 | +216% |
| Other operating charges | 640/8 | €2,621 | €3,907 | +€1,286 | +49.1% |
| Non-recurring operating charges | 66A | - | €2,093 | +€2,093 | |
| Gross operating margin | 9900 | €55,987 | €244,031 | +€188,044 | +336% |
| Operating profit (loss) | 9901 | €36,657 | €145,341 | +€108,684 | +296% |
| Financial income | 75/76B | €366 | €774 | +€408 | +111% |
| Recurring financial income | 75 | €366 | €774 | +€408 | +111% |
| Financial charges | 65/66B | €2,643 | €24,731 | +€22,088 | +836% |
| Recurring financial charges | 65 | €2,643 | €24,731 | +€22,088 | +836% |
| Profit (loss) for the period before taxes | 9903 | €34,380 | €121,383 | +€87,004 | +253% |
| Income taxes | 67/77 | €10,318 | €41,515 | +€31,198 | +302% |
| Profit (loss) for the period | 9904 | €24,062 | €79,868 | +€55,806 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €24,062 | €79,868 | +€55,806 | +232% |
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 28 October 2026 via checked.be.