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 -€19,280
down €19,280 (-33.8%), from €57,018 to €37,738
of which Plant, machinery and equipment: -€24,420
- Receivables within one year +€10,664
up €10,664 (+7.1%), from €150,874 to €161,538
of which Trade receivables: +€90,485
- Stocks and contracts +€3,933
up €3,933 (+15.4%), from €25,537 to €29,470
- Cash +€2,707
up €2,707 (+32.2%), from €8,401 to €11,108
mainly Net result for the year (+€68,386) and Depreciation (+€39,565)
- Profit (loss) carried forward +€68,386
up €68,386 (+51.3%), from -€133,241 to -€64,856
- Other debts -€21,342
down €21,342 (-67.6%), from €31,591 to €10,249
- Trade debts -€20,828
down €20,828 (-11.5%), from €180,592 to €159,763
- Debts after one year -€13,767
no longer reported in 2025 (was €13,767)
- Tax, wage and social debts -€13,493
no longer reported in 2025 (was €13,493)
of which Remuneration and social security: -€12,000
- Depreciation -€39,976
down €39,976 (-50.3%), from €79,541 to €39,565
- Taxes +€23,692
up €23,692 (+25,385%), from €93 to €23,785
- Gross operating margin +€22,654
up €22,654 (+18.8%), from €120,695 to €143,348
- Financial charges -€2,771
down €2,771 (-20.2%), from €13,692 to €10,920
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.
Derived cash bridge
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 | €247,027 | €244,179 | -€2,849 | -1.2% |
| Fixed assets | 21/28 | €57,423 | €38,143 | -€19,280 | -33.6% |
| Tangible fixed assets | 22/27 | €57,018 | €37,738 | -€19,280 | -33.8% |
| Land and buildings | 22 | €3,003 | €2,219 | -€784 | -26.1% |
| Plant, machinery and equipment | 23 | €49,878 | €25,458 | -€24,420 | -49.0% |
| Furniture and vehicles | 24 | €4,138 | €10,061 | +€5,923 | +143% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €189,604 | €206,036 | +€16,432 | +8.7% |
| Stocks and contracts in progress | 3 | €25,537 | €29,470 | +€3,933 | +15.4% |
| Contracts in progress | 37 | €25,537 | €29,470 | +€3,933 | +15.4% |
| Amounts receivable within one year | 40/41 | €150,874 | €161,538 | +€10,664 | +7.1% |
| Trade receivables | 40 | €50,717 | €141,202 | +€90,485 | +178% |
| Other amounts receivable | 41 | €100,157 | €20,336 | -€79,821 | -79.7% |
| Cash at bank and in hand | 54/58 | €8,401 | €11,108 | +€2,707 | +32.2% |
| Deferred charges and accrued income | 490/1 | €4,793 | €3,921 | -€872 | -18.2% |
| Total equity and liabilities | 10/49 | €247,027 | €244,179 | -€2,849 | -1.2% |
| Equity | 10/15 | -€37,335 | €31,050 | +€68,386 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,306 | €77,306 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €75,446 | €75,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,241 | -€64,856 | +€68,386 | +51.3% |
| Amounts payable | 17/49 | €284,363 | €213,128 | -€71,234 | -25.1% |
| Amounts payable after more than one year | 17 | €13,767 | - | -€13,767 | |
| Financial debts | 170/4 | €13,767 | - | -€13,767 | |
| Amounts payable within one year | 42/48 | €270,595 | €213,128 | -€57,467 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €43,680 | €43,116 | -€564 | -1.3% |
| Financial debts | 43 | €1,239 | - | -€1,239 | |
| Credit institutions | 430/8 | €1,239 | - | -€1,239 | |
| Trade debts | 44 | €180,592 | €159,763 | -€20,828 | -11.5% |
| Suppliers | 440/4 | €180,592 | €159,763 | -€20,828 | -11.5% |
| Taxes, remuneration and social security | 45 | €13,493 | - | -€13,493 | |
| Taxes | 450/3 | €1,493 | - | -€1,493 | |
| Remuneration and social security | 454/9 | €12,000 | - | -€12,000 | |
| Other amounts payable | 47/48 | €31,591 | €10,249 | -€21,342 | -67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,541 | €39,565 | -€39,976 | -50.3% |
| Other operating charges | 640/8 | €297 | €692 | +€396 | +133% |
| Gross operating margin | 9900 | €120,695 | €143,348 | +€22,654 | +18.8% |
| Operating profit (loss) | 9901 | €40,858 | €103,091 | +€62,233 | +152% |
| Financial charges | 65/66B | €13,692 | €10,920 | -€2,771 | -20.2% |
| Recurring financial charges | 65 | €13,692 | €10,920 | -€2,771 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €27,166 | €92,171 | +€65,005 | +239% |
| Income taxes | 67/77 | €93 | €23,785 | +€23,692 | +25,385% |
| Profit (loss) for the period | 9904 | €27,072 | €68,386 | +€41,313 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €27,072 | €68,386 | +€41,313 | +153% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.