CORTEX: 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.
CORTEX
Largest movements
- Cash +€103,483
up €103,483 (+557.9%), from €18,548 to €122,031
mainly Other debts (+€81,119) and Net result for the year (+€15,096)
- Tangible fixed assets -€13,504
down €13,504 (-5.5%), from €245,107 to €231,603
of which Land and buildings: -€13,960
- Receivables within one year -€8,708
down €8,708 (-15.9%), from €54,598 to €45,891
- Other debts +€81,119
up €81,119 (+92.1%), from €88,037 to €169,156
- Debts after one year -€28,047
down €28,047 (-21.4%), from €130,871 to €102,824
- Profit (loss) carried forward +€15,510
up €15,510 (+90.2%), from €17,189 to €32,699
- Tax, wage and social debts +€6,551
up €6,551 (+69.5%), from €9,420 to €15,970
- Trade debts +€5,722
up €5,722 (+70.3%), from €8,133 to €13,855
- Gross operating margin +€13,538
up €13,538 (+32.2%), from €41,999 to €55,536
- Taxes -€6,155
down €6,155 (-46.3%), from €13,293 to €7,139
- Other operating charges +€5,307
up €5,307 (+131.6%), from €4,034 to €9,340
- Financial charges +€3,308
up €3,308 (+54.7%), from €6,050 to €9,358
- Depreciation -€813
down €813 (-5.2%), from €15,546 to €14,733
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €318,253 | €399,524 | +€81,271 | +25.5% |
| Fixed assets | 21/28 | €245,107 | €231,603 | -€13,504 | -5.5% |
| Tangible fixed assets | 22/27 | €245,107 | €231,603 | -€13,504 | -5.5% |
| Land and buildings | 22 | €244,164 | €230,204 | -€13,960 | -5.7% |
| Furniture and vehicles | 24 | €943 | €1,399 | +€456 | +48.4% |
| Current assets | 29/58 | €73,146 | €167,921 | +€94,775 | +129.6% |
| Amounts receivable within one year | 40/41 | €54,598 | €45,891 | -€8,708 | -15.9% |
| Other amounts receivable | 41 | €54,598 | €45,891 | -€8,708 | -15.9% |
| Cash at bank and in hand | 54/58 | €18,548 | €122,031 | +€103,483 | +557.9% |
| Total equity and liabilities | 10/49 | €318,253 | €399,524 | +€81,271 | +25.5% |
| Equity | 10/15 | €48,405 | €63,501 | +€15,096 | +31.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,217 | €10,803 | -€414 | -3.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,217 | €8,803 | -€414 | -4.5% |
| Profit (loss) carried forward | 14 | €17,189 | €32,699 | +€15,510 | +90.2% |
| Provisions and deferred taxes | 16 | €4,570 | €4,441 | -€130 | -2.8% |
| Deferred taxes | 168 | €4,570 | €4,441 | -€130 | -2.8% |
| Amounts payable | 17/49 | €265,277 | €331,582 | +€66,305 | +25.0% |
| Amounts payable after more than one year | 17 | €130,871 | €102,824 | -€28,047 | -21.4% |
| Financial debts | 170/4 | €130,871 | €102,824 | -€28,047 | -21.4% |
| Amounts payable within one year | 42/48 | €132,694 | €227,246 | +€94,552 | +71.3% |
| Current portion of amounts payable after more than one year | 42 | €27,105 | €28,266 | +€1,161 | +4.3% |
| Trade debts | 44 | €8,133 | €13,855 | +€5,722 | +70.3% |
| Suppliers | 440/4 | €8,133 | €13,855 | +€5,722 | +70.3% |
| Taxes, remuneration and social security | 45 | €9,420 | €15,970 | +€6,551 | +69.5% |
| Taxes | 450/3 | €9,420 | €15,970 | +€6,551 | +69.5% |
| Other amounts payable | 47/48 | €88,037 | €169,156 | +€81,119 | +92.1% |
| Accrued charges and deferred income | 492/3 | €1,712 | €1,511 | -€200 | -11.7% |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,546 | €14,733 | -€813 | -5.2% |
| Other operating charges | 640/8 | €4,034 | €9,340 | +€5,307 | +131.6% |
| Non-recurring operating charges | 66A | €2,176 | - | -€2,176 | |
| Gross operating margin | 9900 | €41,999 | €55,536 | +€13,538 | +32.2% |
| Operating profit (loss) | 9901 | €20,242 | €31,463 | +€11,221 | +55.4% |
| Financial charges | 65/66B | €6,050 | €9,358 | +€3,308 | +54.7% |
| Recurring financial charges | 65 | €6,050 | €9,358 | +€3,308 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | €14,192 | €22,105 | +€7,913 | +55.8% |
| Transfer from deferred taxes | 780 | €130 | €130 | = | 0.0% |
| Income taxes | 67/77 | €13,293 | €7,139 | -€6,155 | -46.3% |
| Profit (loss) for the period | 9904 | €1,029 | €15,096 | +€14,067 | +1367.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,029 | €15,096 | +€14,067 | +1367.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2023 and 31 March 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.