CORTEXCO: 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.
CORTEXCO
Largest movements
- Cash -€1.1m
down €1.1m (-88.5%), from €1.2m to €143,648
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€668,390)
- Financial fixed assets +€1.0m
up €1.0m (+17.5%), from €5.8m to €6.9m
- Receivables within one year +€668,390
up €668,390 (+110.1%), from €607,142 to €1.3m
of which Other amounts receivable: +€438,794
- Tangible fixed assets +€93,677
up €93,677 (+2275.4%), from €4,117 to €97,793
of which Furniture and vehicles: +€87,584
- Reserves +€834,899
up €834,899 (+18.1%), from €4.6m to €5.4m
of which Distributable reserves: +€854,899
- Debts after one year -€138,026
down €138,026 (-11.4%), from €1.2m to €1.1m
- Gross operating margin +€68,546
up €68,546 (+10.2%), from €673,316 to €741,862
- Financial income +€40,668
up €40,668 (+10.5%), from €386,129 to €426,797
of which Financial income: +€40,668
- Financial charges +€20,997
up €20,997 (+19.3%), from €108,858 to €129,855
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 | €7,703,808 | €8,385,247 | +€681,439 | +8.8% |
| Fixed assets | 21/28 | €5,842,566 | €6,959,705 | +€1.1m | +19.1% |
| Tangible fixed assets | 22/27 | €4,117 | €97,793 | +€93,677 | +2275.4% |
| Plant, machinery and equipment | 23 | €0 | €6,804 | +€6,804 | |
| Furniture and vehicles | 24 | €3,406 | €90,989 | +€87,584 | +2571.8% |
| Leasing and similar rights | 25 | €711 | €0 | -€711 | -100.0% |
| Financial fixed assets | 28 | €5,838,449 | €6,861,911 | +€1.0m | +17.5% |
| Current assets | 29/58 | €1,861,242 | €1,425,542 | -€435,699 | -23.4% |
| Amounts receivable within one year | 40/41 | €607,142 | €1,275,531 | +€668,390 | +110.1% |
| Trade receivables | 40 | €265,302 | €494,898 | +€229,596 | +86.5% |
| Other amounts receivable | 41 | €341,840 | €780,634 | +€438,794 | +128.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,243,870 | €143,648 | -€1.1m | -88.5% |
| Deferred charges and accrued income | 490/1 | €10,229 | €6,363 | -€3,866 | -37.8% |
| Total equity and liabilities | 10/49 | €7,703,808 | €8,385,247 | +€681,439 | +8.8% |
| Equity | 10/15 | €4,811,582 | €5,646,481 | +€834,899 | +17.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €4,611,582 | €5,446,481 | +€834,899 | +18.1% |
| Non-distributable reserves | 130/1 | €20,000 | €0 | -€20,000 | -100.0% |
| Reserves not available under the articles | 1311 | €20,000 | €0 | -€20,000 | -100.0% |
| Distributable reserves | 133 | €4,591,582 | €5,446,481 | +€854,899 | +18.6% |
| Amounts payable | 17/49 | €2,892,226 | €2,738,765 | -€153,460 | -5.3% |
| Amounts payable after more than one year | 17 | €1,210,292 | €1,072,265 | -€138,026 | -11.4% |
| Financial debts | 170/4 | €1,210,292 | €1,072,265 | -€138,026 | -11.4% |
| Amounts payable within one year | 42/48 | €1,679,915 | €1,658,440 | -€21,475 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €240,002 | €243,903 | +€3,901 | +1.6% |
| Trade debts | 44 | €10,459 | €7,446 | -€3,014 | -28.8% |
| Suppliers | 440/4 | €10,459 | €7,446 | -€3,014 | -28.8% |
| Taxes, remuneration and social security | 45 | €87,992 | €70,091 | -€17,901 | -20.3% |
| Taxes | 450/3 | €78,390 | €60,025 | -€18,365 | -23.4% |
| Remuneration and social security | 454/9 | €9,602 | €10,066 | +€465 | +4.8% |
| Other amounts payable | 47/48 | €1,341,462 | €1,337,000 | -€4,462 | -0.3% |
| Accrued charges and deferred income | 492/3 | €2,019 | €8,060 | +€6,041 | +299.2% |
| Non-recurring operating income | 76A | - | €21,500 | +€21,500 | |
| Remuneration, social security and pensions | 62 | €40,666 | €41,108 | +€443 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,941 | €17,386 | +€2,445 | +16.4% |
| Other operating charges | 640/8 | €5,091 | €3,020 | -€2,070 | -40.7% |
| Non-recurring operating charges | 66A | €45 | €53 | +€8 | +17.8% |
| Gross operating margin | 9900 | €673,316 | €741,862 | +€68,546 | +10.2% |
| Operating profit (loss) | 9901 | €612,574 | €680,294 | +€67,720 | +11.1% |
| Financial income | 75/76B | €386,129 | €426,797 | +€40,668 | +10.5% |
| Recurring financial income | 75 | €386,129 | €426,797 | +€40,668 | +10.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €108,858 | €129,855 | +€20,997 | +19.3% |
| Recurring financial charges | 65 | €108,858 | €129,855 | +€20,997 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €889,845 | €977,236 | +€87,391 | +9.8% |
| Income taxes | 67/77 | €135,453 | €142,336 | +€6,884 | +5.1% |
| Profit (loss) for the period | 9904 | €754,392 | €834,899 | +€80,507 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €754,392 | €834,899 | +€80,507 | +10.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.