CORTES SALES: what changed
CORTES SALES
Largest movements
- Stocks and contracts +€269,091
up €269,091 (+1,085%), from €24,793 to €293,884
- Cash +€142,190
up €142,190 (+3,842%), from €3,701 to €145,890
mainly Net result for the year (+€336,524) and Debts after one year (+€76,052)
- Receivables after one year +€100,000
new in 2025: €100,000
- Receivables within one year -€41,350
down €41,350 (-28.0%), from €147,700 to €106,350
- Tangible fixed assets -€30,952
down €30,952 (-5.5%), from €563,524 to €532,572
of which Furniture and vehicles: -€18,082
- Profit (loss) carried forward +€336,524
up €336,524 (+93.3%), from €360,802 to €697,326
- Debts after one year +€76,052
up €76,052 (+17.3%), from €439,411 to €515,463
- Current portion of long-term debt +€35,158
up €35,158 (+89.2%), from €39,431 to €74,590
- Other debts -€23,993
down €23,993 (-83.3%), from €28,797 to €4,804
- Tax, wage and social debts +€15,319
up €15,319 (+15.1%), from €101,609 to €116,928
- Gross operating margin +€195,620
up €195,620 (+97.7%), from €200,163 to €395,783
- Financial income +€96,642
up €96,642 (+2,868%), from €3,369 to €100,012
- Taxes +€49,174
up €49,174 (+130%), from €37,775 to €86,950
- Financial charges -€4,207
down €4,207 (-12.9%), from €32,514 to €28,306
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €989,718 | €1,428,696 | +€438,979 | +44.4% |
| Fixed assets | 21/28 | €813,524 | €782,572 | -€30,952 | -3.8% |
| Tangible fixed assets | 22/27 | €563,524 | €532,572 | -€30,952 | -5.5% |
| Land and buildings | 22 | €496,840 | €480,213 | -€16,626 | -3.3% |
| Plant, machinery and equipment | 23 | €4,250 | €3,084 | -€1,166 | -27.4% |
| Furniture and vehicles | 24 | €49,893 | €31,811 | -€18,082 | -36.2% |
| Other tangible fixed assets | 26 | €12,542 | €17,463 | +€4,922 | +39.2% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €176,194 | €646,125 | +€469,931 | +267% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Stocks and contracts in progress | 3 | €24,793 | €293,884 | +€269,091 | +1,085% |
| Stocks | 30/36 | €24,793 | €293,884 | +€269,091 | +1,085% |
| Amounts receivable within one year | 40/41 | €147,700 | €106,350 | -€41,350 | -28.0% |
| Trade receivables | 40 | €147,700 | €106,350 | -€41,350 | -28.0% |
| Cash at bank and in hand | 54/58 | €3,701 | €145,890 | +€142,190 | +3,842% |
| Total equity and liabilities | 10/49 | €989,718 | €1,428,696 | +€438,979 | +44.4% |
| Equity | 10/15 | €379,352 | €715,876 | +€336,524 | +88.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €360,802 | €697,326 | +€336,524 | +93.3% |
| Amounts payable | 17/49 | €610,366 | €712,820 | +€102,454 | +16.8% |
| Amounts payable after more than one year | 17 | €439,411 | €515,463 | +€76,052 | +17.3% |
| Financial debts | 170/4 | €439,411 | €515,463 | +€76,052 | +17.3% |
| Amounts payable within one year | 42/48 | €170,956 | €197,358 | +€26,402 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €39,431 | €74,590 | +€35,158 | +89.2% |
| Trade debts | 44 | €1,118 | €1,036 | -€82 | -7.4% |
| Suppliers | 440/4 | €1,118 | €1,036 | -€82 | -7.4% |
| Taxes, remuneration and social security | 45 | €101,609 | €116,928 | +€15,319 | +15.1% |
| Taxes | 450/3 | €101,609 | €116,928 | +€15,319 | +15.1% |
| Other amounts payable | 47/48 | €28,797 | €4,804 | -€23,993 | -83.3% |
| Non-recurring operating income | 76A | €836 | - | -€836 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,722 | €39,231 | +€508 | +1.3% |
| Other operating charges | 640/8 | €4,407 | €4,784 | +€377 | +8.6% |
| Gross operating margin | 9900 | €200,163 | €395,783 | +€195,620 | +97.7% |
| Operating profit (loss) | 9901 | €157,033 | €351,768 | +€194,735 | +124% |
| Financial income | 75/76B | €3,369 | €100,012 | +€96,642 | +2,868% |
| Recurring financial income | 75 | €3,369 | €100,012 | +€96,642 | +2,868% |
| Financial charges | 65/66B | €32,514 | €28,306 | -€4,207 | -12.9% |
| Recurring financial charges | 65 | €32,514 | €28,306 | -€4,207 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €127,889 | €423,474 | +€295,585 | +231% |
| Income taxes | 67/77 | €37,775 | €86,950 | +€49,174 | +130% |
| Profit (loss) for the period | 9904 | €90,114 | €336,524 | +€246,410 | +273% |
| Profit (loss) for the period to be appropriated | 9905 | €90,114 | €336,524 | +€246,410 | +273% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.