CORTI'TREIZE: 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.
CORTI'TREIZE
Largest movements
- Intangible fixed assets +€69,085
new in 2025: €69,085
- Receivables within one year -€47,143
down €47,143 (-62.9%), from €74,962 to €27,819
of which Trade receivables: -€36,709
- Cash +€13,107
up €13,107 (+30.4%), from €43,173 to €56,279
mainly Receivables within one year (+€47,143) and Contributions, distributions and other (+€29,172)
- Investment grants +€29,172
new in 2025: €29,172
- Reserves +€7,749
up €7,749 (+9.2%), from €84,394 to €92,143
- Trade debts +€3,876
up €3,876 (+27.2%), from €14,241 to €18,118
- Tax, wage and social debts -€3,593
down €3,593 (-35.9%), from €10,014 to €6,421
of which Remuneration and social security: -€3,629
- Other debts -€2,813
down €2,813 (-100%), from €2,813 to €0
- Gross operating margin -€20,506
down €20,506 (-10.6%), from €193,399 to €172,893
- Depreciation +€14,795
up €14,795 (+2,145%), from €690 to €15,485
- Staff costs -€12,668
down €12,668 (-7.7%), from €164,690 to €152,022
- Financial income +€6,619
up €6,619 (+3,738%), from €177 to €6,796
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 | €142,740 | €177,131 | +€34,391 | +24.1% |
| Fixed assets | 21/28 | €13,553 | €83,007 | +€69,454 | +512% |
| Intangible fixed assets | 21 | - | €69,085 | +€69,085 | |
| Tangible fixed assets | 22/27 | €2,253 | €2,622 | +€368 | +16.3% |
| Furniture and vehicles | 24 | €4 | €895 | +€891 | +21,472% |
| Other tangible fixed assets | 26 | €2,249 | €1,726 | -€523 | -23.2% |
| Financial fixed assets | 28 | €11,300 | €11,300 | = | 0.0% |
| Current assets | 29/58 | €129,187 | €94,124 | -€35,063 | -27.1% |
| Stocks and contracts in progress | 3 | €7,299 | €6,797 | -€502 | -6.9% |
| Stocks | 30/36 | €7,299 | €6,797 | -€502 | -6.9% |
| Amounts receivable within one year | 40/41 | €74,962 | €27,819 | -€47,143 | -62.9% |
| Trade receivables | 40 | €41,378 | €4,669 | -€36,709 | -88.7% |
| Other amounts receivable | 41 | €33,584 | €23,150 | -€10,434 | -31.1% |
| Cash at bank and in hand | 54/58 | €43,173 | €56,279 | +€13,107 | +30.4% |
| Deferred charges and accrued income | 490/1 | €3,753 | €3,228 | -€525 | -14.0% |
| Total equity and liabilities | 10/49 | €142,740 | €177,131 | +€34,391 | +24.1% |
| Equity | 10/15 | €112,594 | €149,515 | +€36,921 | +32.8% |
| Contributions | 10/11 | €28,200 | €28,200 | = | 0.0% |
| Reserves | 13 | €84,394 | €92,143 | +€7,749 | +9.2% |
| Tax-exempt reserves | 132 | €84,394 | €92,143 | +€7,749 | +9.2% |
| Investment grants | 15 | - | €29,172 | +€29,172 | |
| Amounts payable | 17/49 | €30,146 | €27,616 | -€2,530 | -8.4% |
| Amounts payable within one year | 42/48 | €27,069 | €24,539 | -€2,530 | -9.3% |
| Trade debts | 44 | €14,241 | €18,118 | +€3,876 | +27.2% |
| Suppliers | 440/4 | €14,241 | €18,118 | +€3,876 | +27.2% |
| Taxes, remuneration and social security | 45 | €10,014 | €6,421 | -€3,593 | -35.9% |
| Taxes | 450/3 | €441 | €477 | +€35 | +8.0% |
| Remuneration and social security | 454/9 | €9,573 | €5,944 | -€3,629 | -37.9% |
| Other amounts payable | 47/48 | €2,813 | €0 | -€2,813 | -100% |
| Accrued charges and deferred income | 492/3 | €3,077 | €3,077 | = | 0.0% |
| Non-recurring operating income | 76A | €1,124 | €0 | -€1,124 | -100% |
| Remuneration, social security and pensions | 62 | €164,690 | €152,022 | -€12,668 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €690 | €15,485 | +€14,795 | +2,145% |
| Other operating charges | 640/8 | €497 | €2,172 | +€1,675 | +337% |
| Gross operating margin | 9900 | €193,399 | €172,893 | -€20,506 | -10.6% |
| Operating profit (loss) | 9901 | €27,522 | €3,215 | -€24,308 | -88.3% |
| Financial income | 75/76B | €177 | €6,796 | +€6,619 | +3,738% |
| Recurring financial income | 75 | €177 | €6,796 | +€6,619 | +3,738% |
| Financial charges | 65/66B | €1,618 | €1,249 | -€368 | -22.8% |
| Recurring financial charges | 65 | €1,618 | €1,249 | -€368 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €26,082 | €8,761 | -€17,320 | -66.4% |
| Income taxes | 67/77 | €1,162 | €1,012 | -€150 | -12.9% |
| Profit (loss) for the period | 9904 | €24,920 | €7,749 | -€17,170 | -68.9% |
| Transfer to tax-exempt reserves | 689 | €24,920 | €7,749 | -€17,170 | -68.9% |
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 17 October 2026 via checked.be.