Cortens Cycling: 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.
Cortens Cycling
Largest movements
- Cash -€22,001
down €22,001 (-24.0%), from €91,860 to €69,859
mainly Contributions, distributions and other (-€50,000) and Tax, wage and social debts (-€5,905)
- Receivables within one year -€8,217
down €8,217 (-80.9%), from €10,159 to €1,942
of which Trade receivables: -€8,058
- Current investments -€7,570
no longer reported in 2026 (was €7,570)
- Tangible fixed assets -€1,871
down €1,871 (-36.6%), from €5,111 to €3,240
of which Other tangible fixed assets: -€1,004
- Reserves -€33,039
down €33,039 (-40.2%), from €82,093 to €49,054
- Tax, wage and social debts -€5,905
down €5,905 (-62.1%), from €9,511 to €3,606
- Gross operating margin -€38,085
down €38,085 (-55.4%), from €68,806 to €30,721
- Taxes -€9,746
down €9,746 (-55.7%), from €17,507 to €7,761
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,786 | €77,820 | -€38,966 | -33.4% |
| Fixed assets | 21/28 | €5,711 | €3,840 | -€1,871 | -32.8% |
| Tangible fixed assets | 22/27 | €5,111 | €3,240 | -€1,871 | -36.6% |
| Furniture and vehicles | 24 | €3,645 | €2,778 | -€867 | -23.8% |
| Other tangible fixed assets | 26 | €1,466 | €462 | -€1,004 | -68.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €111,075 | €73,980 | -€37,095 | -33.4% |
| Amounts receivable within one year | 40/41 | €10,159 | €1,942 | -€8,217 | -80.9% |
| Trade receivables | 40 | €10,000 | €1,942 | -€8,058 | -80.6% |
| Other amounts receivable | 41 | €159 | - | -€159 | |
| Current investments | 50/53 | €7,570 | - | -€7,570 | |
| Cash at bank and in hand | 54/58 | €91,860 | €69,859 | -€22,001 | -24.0% |
| Deferred charges and accrued income | 490/1 | €1,486 | €2,179 | +€693 | +46.6% |
| Total equity and liabilities | 10/49 | €116,786 | €77,820 | -€38,966 | -33.4% |
| Equity | 10/15 | €100,693 | €67,654 | -€33,039 | -32.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,093 | €49,054 | -€33,039 | -40.2% |
| Distributable reserves | 133 | €82,093 | €49,054 | -€33,039 | -40.2% |
| Amounts payable | 17/49 | €16,093 | €10,166 | -€5,927 | -36.8% |
| Amounts payable within one year | 42/48 | €16,093 | €10,166 | -€5,927 | -36.8% |
| Trade debts | 44 | €1,670 | €1,634 | -€36 | -2.2% |
| Suppliers | 440/4 | €1,670 | €1,634 | -€36 | -2.2% |
| Taxes, remuneration and social security | 45 | €9,511 | €3,606 | -€5,905 | -62.1% |
| Taxes | 450/3 | €9,511 | €3,606 | -€5,905 | -62.1% |
| Other amounts payable | 47/48 | €4,912 | €4,926 | +€14 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,308 | €2,283 | -€25 | -1.1% |
| Other operating charges | 640/8 | €1,228 | €1,230 | +€2 | +0.2% |
| Non-recurring operating charges | 66A | - | €3,293 | +€3,293 | |
| Gross operating margin | 9900 | €68,806 | €30,721 | -€38,085 | -55.4% |
| Operating profit (loss) | 9901 | €65,270 | €23,915 | -€41,355 | -63.4% |
| Financial income | 75/76B | €1,189 | €907 | -€282 | -23.7% |
| Recurring financial income | 75 | €1,189 | €575 | -€614 | -51.6% |
| Non-recurring financial income | 76B | - | €332 | +€332 | |
| Financial charges | 65/66B | €205 | €100 | -€105 | -51.2% |
| Recurring financial charges | 65 | €205 | €100 | -€105 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €66,254 | €24,722 | -€41,532 | -62.7% |
| Income taxes | 67/77 | €17,507 | €7,761 | -€9,746 | -55.7% |
| Profit (loss) for the period | 9904 | €48,747 | €16,961 | -€31,786 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,747 | €16,961 | -€31,786 | -65.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.