Cortex Machina: 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 Machina
Largest movements
- Intangible fixed assets -€40,206
down €40,206 (-25.1%), from €160,268 to €120,063
- Receivables within one year -€16,793
down €16,793 (-68.5%), from €24,500 to €7,707
of which Trade receivables: -€16,924
- Cash +€6,108
up €6,108 (+37.1%), from €16,464 to €22,572
mainly Contributions, distributions and other (+€301,206) and Depreciation (+€51,711)
- Contributions +€301,206
up €301,206 (+3012.1%), from €10,000 to €311,206
- Other debts -€300,725
down €300,725 (-99.5%), from €302,229 to €1,503
- Profit (loss) carried forward -€49,924
down €49,924 (-41.3%), from -€120,943 to -€170,867
- Gross operating margin +€7,574
up €7,574, from -€3,716 to €3,858
- Depreciation +€3,097
up €3,097 (+6.4%), from €48,614 to €51,711
- Staff costs +€1,840
up €1,840, from -€24 to €1,816
- Other operating charges -€650
down €650 (-81.3%), from €800 to €150
- Financial charges -€255
down €255 (-70.8%), from €360 to €105
of which Financial charges: -€211
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 | €202,083 | €150,342 | -€51,741 | -25.6% |
| Fixed assets | 21/28 | €161,119 | €120,063 | -€41,056 | -25.5% |
| Intangible fixed assets | 21 | €160,268 | €120,063 | -€40,206 | -25.1% |
| Tangible fixed assets | 22/27 | €851 | - | -€851 | |
| Furniture and vehicles | 24 | €851 | - | -€851 | |
| Current assets | 29/58 | €40,964 | €30,280 | -€10,684 | -26.1% |
| Amounts receivable within one year | 40/41 | €24,500 | €7,707 | -€16,793 | -68.5% |
| Trade receivables | 40 | €24,500 | €7,576 | -€16,924 | -69.1% |
| Other amounts receivable | 41 | - | €131 | +€131 | |
| Cash at bank and in hand | 54/58 | €16,464 | €22,572 | +€6,108 | +37.1% |
| Total equity and liabilities | 10/49 | €202,083 | €150,342 | -€51,741 | -25.6% |
| Equity | 10/15 | -€110,943 | €140,339 | +€251,282 | |
| Contributions | 10/11 | €10,000 | €311,206 | +€301,206 | +3012.1% |
| Profit (loss) carried forward | 14 | -€120,943 | -€170,867 | -€49,924 | -41.3% |
| Amounts payable | 17/49 | €313,026 | €10,003 | -€303,023 | -96.8% |
| Amounts payable within one year | 42/48 | €305,526 | €2,503 | -€303,023 | -99.2% |
| Trade debts | 44 | €2,326 | €1,000 | -€1,326 | -57.0% |
| Suppliers | 440/4 | €2,326 | €1,000 | -€1,326 | -57.0% |
| Taxes, remuneration and social security | 45 | €971 | - | -€971 | |
| Taxes | 450/3 | €971 | - | -€971 | |
| Other amounts payable | 47/48 | €302,229 | €1,503 | -€300,725 | -99.5% |
| Accrued charges and deferred income | 492/3 | €7,500 | €7,500 | = | 0.0% |
| Non-recurring operating income | 76A | €5,522 | - | -€5,522 | |
| Remuneration, social security and pensions | 62 | -€24 | €1,816 | +€1,840 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,614 | €51,711 | +€3,097 | +6.4% |
| Other operating charges | 640/8 | €800 | €150 | -€650 | -81.3% |
| Gross operating margin | 9900 | -€3,716 | €3,858 | +€7,574 | |
| Operating profit (loss) | 9901 | -€53,106 | -€49,819 | +€3,287 | +6.2% |
| Financial income | 75/76B | €219 | - | -€219 | |
| Recurring financial income | 75 | €219 | - | -€219 | |
| Financial charges | 65/66B | €360 | €105 | -€255 | -70.8% |
| Recurring financial charges | 65 | €315 | €105 | -€211 | -66.7% |
| Non-recurring financial charges | 66B | €44 | - | -€44 | |
| Profit (loss) for the period before taxes | 9903 | -€53,247 | -€49,924 | +€3,323 | +6.2% |
| Profit (loss) for the period | 9904 | -€53,247 | -€49,924 | +€3,323 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,247 | -€49,924 | +€3,323 | +6.2% |
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 8 October 2026 via checked.be.