CORTEN: 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.
CORTEN
Largest movements
- Cash +€9,885
up €9,885 (+141.9%), from €6,964 to €16,849
mainly Other debts (+€4,640) and Tax, wage and social debts (+€2,425)
- Intangible fixed assets -€815
down €815 (-60.7%), from €1,343 to €528
- Other debts +€4,640
up €4,640 (+69.0%), from €6,729 to €11,369
- Tax, wage and social debts +€2,425
up €2,425 (+52.0%), from €4,659 to €7,083
of which Remuneration and social security: +€2,033
- Profit (loss) carried forward +€793
up €793 (+0.7%), from -€113,813 to -€113,021
- Trade debts +€761
up €761 (+31.5%), from €2,416 to €3,177
- Gross operating margin -€6,247
down €6,247 (-9.9%), from €63,206 to €56,959
- Staff costs +€1,481
up €1,481 (+3.1%), from €47,422 to €48,902
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.
Cash bridge derived
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 | €50,442 | €59,060 | +€8,618 | +17.1% |
| Fixed assets | 21/28 | €4,485 | €3,310 | -€1,175 | -26.2% |
| Intangible fixed assets | 21 | €1,343 | €528 | -€815 | -60.7% |
| Tangible fixed assets | 22/27 | €1,394 | €1,026 | -€368 | -26.4% |
| Plant, machinery and equipment | 23 | €619 | €477 | -€142 | -23.0% |
| Other tangible fixed assets | 26 | €775 | €550 | -€225 | -29.1% |
| Financial fixed assets | 28 | €1,748 | €1,756 | +€7 | +0.4% |
| Current assets | 29/58 | €45,957 | €55,750 | +€9,794 | +21.3% |
| Stocks and contracts in progress | 3 | €27,251 | €27,251 | = | 0.0% |
| Stocks | 30/36 | €27,251 | €27,251 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,295 | €4,240 | -€56 | -1.3% |
| Trade receivables | 40 | €4,284 | €4,205 | -€80 | -1.9% |
| Other amounts receivable | 41 | €11 | €35 | +€24 | +224.3% |
| Current investments | 50/53 | €2,503 | €2,514 | +€11 | +0.4% |
| Cash at bank and in hand | 54/58 | €6,964 | €16,849 | +€9,885 | +141.9% |
| Deferred charges and accrued income | 490/1 | €4,943 | €4,897 | -€46 | -0.9% |
| Total equity and liabilities | 10/49 | €50,442 | €59,060 | +€8,618 | +17.1% |
| Equity | 10/15 | -€79,362 | -€78,569 | +€793 | +1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €15,859 | €15,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,813 | -€113,021 | +€793 | +0.7% |
| Amounts payable | 17/49 | €129,804 | €137,629 | +€7,826 | +6.0% |
| Amounts payable after more than one year | 17 | €116,000 | €116,000 | = | 0.0% |
| Other amounts payable | 178/9 | €116,000 | €116,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,804 | €21,629 | +€7,826 | +56.7% |
| Trade debts | 44 | €2,416 | €3,177 | +€761 | +31.5% |
| Suppliers | 440/4 | €2,416 | €3,177 | +€761 | +31.5% |
| Taxes, remuneration and social security | 45 | €4,659 | €7,083 | +€2,425 | +52.0% |
| Taxes | 450/3 | €986 | €1,378 | +€392 | +39.7% |
| Remuneration and social security | 454/9 | €3,672 | €5,705 | +€2,033 | +55.4% |
| Other amounts payable | 47/48 | €6,729 | €11,369 | +€4,640 | +69.0% |
| Remuneration, social security and pensions | 62 | €47,422 | €48,902 | +€1,481 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,307 | €1,183 | -€124 | -9.5% |
| Other operating charges | 640/8 | €2,626 | €2,707 | +€81 | +3.1% |
| Gross operating margin | 9900 | €63,206 | €56,959 | -€6,247 | -9.9% |
| Operating profit (loss) | 9901 | €11,851 | €4,167 | -€7,684 | -64.8% |
| Financial income | 75/76B | €67 | €26 | -€41 | -61.4% |
| Recurring financial income | 75 | €67 | €26 | -€41 | -61.4% |
| Financial charges | 65/66B | €3,481 | €3,248 | -€232 | -6.7% |
| Recurring financial charges | 65 | €3,481 | €3,248 | -€232 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €8,437 | €944 | -€7,493 | -88.8% |
| Income taxes | 67/77 | €157 | €152 | -€6 | -3.5% |
| Profit (loss) for the period | 9904 | €8,280 | €793 | -€7,487 | -90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,280 | €793 | -€7,487 | -90.4% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.