CORTHOUTS: 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.
CORTHOUTS
Largest movements
- Tangible fixed assets -€52,660
down €52,660 (-4.3%), from €1.2m to €1.2m
of which Land and buildings: -€39,361
- Debts after one year -€65,984
down €65,984 (-8.3%), from €795,783 to €729,798
- Other debts +€23,541
up €23,541 (+61.6%), from €38,222 to €61,762
- Short-term financial debts -€18,065
down €18,065 (-28.6%), from €63,193 to €45,128
of which Other loans: -€60,000
- Financial charges +€65,618
up €65,618 (+211%), from €31,166 to €96,785
of which Non-recurring financial charges: +€61,611
- Financial income +€57,357
up €57,357 (+289%), from €19,838 to €77,195
of which Financial income: +€66,349
- Staff costs +€20,795
up €20,795 (+6.4%), from €322,868 to €343,663
- Other operating charges -€9,216
down €9,216 (-46.5%), from €19,800 to €10,584
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 | €1,342,194 | €1,295,183 | -€47,011 | -3.5% |
| Fixed assets | 21/28 | €1,238,813 | €1,186,153 | -€52,660 | -4.3% |
| Tangible fixed assets | 22/27 | €1,234,863 | €1,182,203 | -€52,660 | -4.3% |
| Land and buildings | 22 | €1,017,345 | €977,984 | -€39,361 | -3.9% |
| Plant, machinery and equipment | 23 | €23,385 | €19,577 | -€3,808 | -16.3% |
| Furniture and vehicles | 24 | €194,134 | €184,643 | -€9,491 | -4.9% |
| Financial fixed assets | 28 | €3,950 | €3,950 | = | 0.0% |
| Current assets | 29/58 | €103,381 | €109,030 | +€5,649 | +5.5% |
| Amounts receivable within one year | 40/41 | €81,274 | €89,830 | +€8,556 | +10.5% |
| Trade receivables | 40 | €81,274 | €89,830 | +€8,556 | +10.5% |
| Cash at bank and in hand | 54/58 | €1,034 | €1,158 | +€124 | +12.0% |
| Deferred charges and accrued income | 490/1 | €21,073 | €18,042 | -€3,031 | -14.4% |
| Total equity and liabilities | 10/49 | €1,342,194 | €1,295,183 | -€47,011 | -3.5% |
| Equity | 10/15 | €234,907 | €223,753 | -€11,154 | -4.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €228,710 | €228,710 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €226,850 | €226,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,154 | -€11,154 | |
| Amounts payable | 17/49 | €1,107,287 | €1,071,430 | -€35,857 | -3.2% |
| Amounts payable after more than one year | 17 | €795,783 | €729,798 | -€65,984 | -8.3% |
| Financial debts | 170/4 | €795,783 | €729,798 | -€65,984 | -8.3% |
| Amounts payable within one year | 42/48 | €311,504 | €341,632 | +€30,128 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €92,984 | €103,687 | +€10,703 | +11.5% |
| Financial debts | 43 | €63,193 | €45,128 | -€18,065 | -28.6% |
| Credit institutions | 430/8 | €3,193 | €45,128 | +€41,935 | +1,313% |
| Other loans | 439 | €60,000 | - | -€60,000 | |
| Trade debts | 44 | €41,277 | €49,866 | +€8,590 | +20.8% |
| Suppliers | 440/4 | €41,277 | €49,866 | +€8,590 | +20.8% |
| Taxes, remuneration and social security | 45 | €75,829 | €81,189 | +€5,360 | +7.1% |
| Taxes | 450/3 | €58,295 | €67,015 | +€8,720 | +15.0% |
| Remuneration and social security | 454/9 | €17,534 | €14,174 | -€3,361 | -19.2% |
| Other amounts payable | 47/48 | €38,222 | €61,762 | +€23,541 | +61.6% |
| Remuneration, social security and pensions | 62 | €322,868 | €343,663 | +€20,795 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,250 | €100,209 | -€4,041 | -3.9% |
| Other operating charges | 640/8 | €19,800 | €10,584 | -€9,216 | -46.5% |
| Gross operating margin | 9900 | €465,610 | €465,861 | +€251 | +0.1% |
| Operating profit (loss) | 9901 | €18,692 | €11,405 | -€7,288 | -39.0% |
| Financial income | 75/76B | €19,838 | €77,195 | +€57,357 | +289% |
| Recurring financial income | 75 | €9,494 | €75,844 | +€66,349 | +699% |
| Non-recurring financial income | 76B | €10,343 | €1,351 | -€8,993 | -86.9% |
| Financial charges | 65/66B | €31,166 | €96,785 | +€65,618 | +211% |
| Recurring financial charges | 65 | €31,166 | €35,173 | +€4,007 | +12.9% |
| Non-recurring financial charges | 66B | - | €61,611 | +€61,611 | |
| Profit (loss) for the period before taxes | 9903 | €7,364 | -€8,185 | -€15,549 | |
| Income taxes | 67/77 | €2,699 | €2,969 | +€270 | +10.0% |
| Profit (loss) for the period | 9904 | €4,665 | -€11,154 | -€15,820 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,665 | -€11,154 | -€15,820 |
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 20 October 2026 via checked.be.