CORTEX MANAGEMENT: 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.
CORTEX MANAGEMENT
Largest movements
- Cash -€42,900
down €42,900 (-26.7%), from €160,389 to €117,489
mainly Net result for the year (-€32,851) and Trade debts (-€24,384)
- Deferred charges and accrued income -€2,598
down €2,598 (-47.7%), from €5,442 to €2,844
- Profit (loss) carried forward -€32,851
down €32,851 (-138%), from -€23,891 to -€56,743
- Trade debts -€24,384
down €24,384 (-88.9%), from €27,414 to €3,030
- Tax, wage and social debts +€11,362
up €11,362 (+58.0%), from €19,576 to €30,938
of which Remuneration and social security: +€12,000
- Gross operating margin -€92,121
down €92,121, from €61,635 to -€30,486
- Taxes -€17,405
no longer reported in 2024 (was €17,405)
- Depreciation -€4,498
down €4,498 (-91.0%), from €4,943 to €445
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.
Derived cash bridge
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 | €168,888 | €122,945 | -€45,943 | -27.2% |
| Fixed assets | 21/28 | €1,877 | €1,432 | -€445 | -23.7% |
| Tangible fixed assets | 22/27 | €1,877 | €1,432 | -€445 | -23.7% |
| Furniture and vehicles | 24 | €1,877 | €1,432 | -€445 | -23.7% |
| Current assets | 29/58 | €167,011 | €121,513 | -€45,498 | -27.2% |
| Amounts receivable within one year | 40/41 | €1,180 | €1,180 | = | 0.0% |
| Other amounts receivable | 41 | €1,180 | €1,180 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,389 | €117,489 | -€42,900 | -26.7% |
| Deferred charges and accrued income | 490/1 | €5,442 | €2,844 | -€2,598 | -47.7% |
| Total equity and liabilities | 10/49 | €168,888 | €122,945 | -€45,943 | -27.2% |
| Equity | 10/15 | €114,269 | €81,417 | -€32,851 | -28.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,560 | €119,560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €117,700 | €117,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,891 | -€56,743 | -€32,851 | -138% |
| Amounts payable | 17/49 | €54,620 | €41,528 | -€13,092 | -24.0% |
| Amounts payable within one year | 42/48 | €54,620 | €41,528 | -€13,092 | -24.0% |
| Trade debts | 44 | €27,414 | €3,030 | -€24,384 | -88.9% |
| Suppliers | 440/4 | €27,414 | €3,030 | -€24,384 | -88.9% |
| Taxes, remuneration and social security | 45 | €19,576 | €30,938 | +€11,362 | +58.0% |
| Taxes | 450/3 | €19,576 | €18,938 | -€638 | -3.3% |
| Remuneration and social security | 454/9 | - | €12,000 | +€12,000 | |
| Other amounts payable | 47/48 | €7,630 | €7,560 | -€70 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,943 | €445 | -€4,498 | -91.0% |
| Other operating charges | 640/8 | €1,506 | €1,759 | +€253 | +16.8% |
| Gross operating margin | 9900 | €61,635 | -€30,486 | -€92,121 | |
| Operating profit (loss) | 9901 | €55,187 | -€32,690 | -€87,877 | |
| Financial charges | 65/66B | €576 | €161 | -€415 | -72.0% |
| Recurring financial charges | 65 | €576 | €161 | -€415 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | €54,611 | -€32,851 | -€87,462 | |
| Income taxes | 67/77 | €17,405 | - | -€17,405 | |
| Profit (loss) for the period | 9904 | €37,206 | -€32,851 | -€70,057 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,206 | -€32,851 | -€70,057 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.