CORTEMBOS VINCENT: 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.
CORTEMBOS VINCENT
Largest movements
- Receivables after one year -€96,000
down €96,000 (-100%), from €96,000 to €0
- Receivables within one year +€55,267
up €55,267 (+163%), from €34,000 to €89,267
of which Other amounts receivable: +€37,734
- Tangible fixed assets -€42,346
down €42,346 (-4.3%), from €995,946 to €953,600
of which Land and buildings: -€40,254
- Debts after one year -€49,506
down €49,506 (-22.2%), from €223,433 to €173,927
- Current portion of long-term debt -€35,231
down €35,231 (-41.4%), from €85,030 to €49,799
- Gross operating margin +€39,204
up €39,204 (+746%), from €5,254 to €44,458
- Financial charges -€3,406
down €3,406 (-38.4%), from €8,866 to €5,461
- Depreciation -€1,945
down €1,945 (-4.4%), from €44,291 to €42,346
- Financial income -€1,284
down €1,284 (-27.8%), from €4,621 to €3,336
- Taxes -€1,096
down €1,096 (-47.8%), from €2,294 to €1,198
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 | €1,168,401 | €1,073,727 | -€94,674 | -8.1% |
| Fixed assets | 21/28 | €995,946 | €953,600 | -€42,346 | -4.3% |
| Tangible fixed assets | 22/27 | €995,946 | €953,600 | -€42,346 | -4.3% |
| Land and buildings | 22 | €975,756 | €935,501 | -€40,254 | -4.1% |
| Furniture and vehicles | 24 | €11,100 | €11,100 | = | 0.0% |
| Leasing and similar rights | 25 | €9,090 | €6,999 | -€2,091 | -23.0% |
| Current assets | 29/58 | €172,456 | €120,127 | -€52,329 | -30.3% |
| Amounts receivable after more than one year | 29 | €96,000 | €0 | -€96,000 | -100% |
| Other amounts receivable | 291 | €96,000 | €0 | -€96,000 | -100% |
| Amounts receivable within one year | 40/41 | €34,000 | €89,267 | +€55,267 | +163% |
| Trade receivables | 40 | €10,000 | €27,533 | +€17,533 | +175% |
| Other amounts receivable | 41 | €24,000 | €61,734 | +€37,734 | +157% |
| Cash at bank and in hand | 54/58 | €36,073 | €28,859 | -€7,214 | -20.0% |
| Deferred charges and accrued income | 490/1 | €6,383 | €2,002 | -€4,381 | -68.6% |
| Total equity and liabilities | 10/49 | €1,168,401 | €1,073,727 | -€94,674 | -8.1% |
| Equity | 10/15 | €849,174 | €839,815 | -€9,359 | -1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €526,610 | €526,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €526,610 | €526,610 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310,164 | €300,805 | -€9,359 | -3.0% |
| Amounts payable | 17/49 | €319,227 | €233,912 | -€85,315 | -26.7% |
| Amounts payable after more than one year | 17 | €223,433 | €173,927 | -€49,506 | -22.2% |
| Financial debts | 170/4 | €223,433 | €173,927 | -€49,506 | -22.2% |
| Amounts payable within one year | 42/48 | €93,779 | €59,955 | -€33,825 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €85,030 | €49,799 | -€35,231 | -41.4% |
| Trade debts | 44 | €2,126 | €3,918 | +€1,793 | +84.3% |
| Suppliers | 440/4 | €2,126 | €3,918 | +€1,793 | +84.3% |
| Taxes, remuneration and social security | 45 | €6,624 | €6,238 | -€386 | -5.8% |
| Taxes | 450/3 | €6,624 | €6,238 | -€386 | -5.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,014 | €30 | -€1,984 | -98.5% |
| Non-recurring operating income | 76A | €9,050 | €17,466 | +€8,416 | +93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,291 | €42,346 | -€1,945 | -4.4% |
| Other operating charges | 640/8 | €8,131 | €8,149 | +€19 | +0.2% |
| Gross operating margin | 9900 | €5,254 | €44,458 | +€39,204 | +746% |
| Operating profit (loss) | 9901 | -€47,168 | -€6,037 | +€41,131 | +87.2% |
| Financial income | 75/76B | €4,621 | €3,336 | -€1,284 | -27.8% |
| Recurring financial income | 75 | €4,621 | €3,336 | -€1,284 | -27.8% |
| Financial charges | 65/66B | €8,866 | €5,461 | -€3,406 | -38.4% |
| Recurring financial charges | 65 | €8,866 | €5,461 | -€3,406 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | -€51,413 | -€8,161 | +€43,252 | +84.1% |
| Income taxes | 67/77 | €2,294 | €1,198 | -€1,096 | -47.8% |
| Profit (loss) for the period | 9904 | -€53,708 | -€9,359 | +€44,348 | +82.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,708 | -€9,359 | +€44,348 | +82.6% |
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 24 October 2026 via checked.be.