Cortilvet: 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.
Cortilvet
Largest movements
- Tangible fixed assets +€32,041
up €32,041 (+142.0%), from €22,565 to €54,606
of which Other tangible fixed assets: +€17,041
- Cash -€17,437
down €17,437 (-57.0%), from €30,581 to €13,143
mainly Investment in fixed assets (net) (-€43,888) and Stocks and contracts (-€7,698)
- Stocks and contracts +€7,698
up €7,698 (+29.6%), from €25,997 to €33,696
- Receivables within one year +€4,435
up €4,435 (+142.0%), from €3,123 to €7,558
of which Other amounts receivable: +€6,710
- Deferred charges and accrued income +€2,210
up €2,210 (+254.9%), from €867 to €3,078
- Profit (loss) carried forward +€23,340
up €23,340 (+70.4%), from €33,153 to €56,492
- Current portion of long-term debt +€10,188
up €10,188 (+180.1%), from €5,658 to €15,847
- Tax, wage and social debts -€2,872
down €2,872 (-23.0%), from €12,495 to €9,623
of which Taxes: -€4,796
- Trade debts -€2,749
down €2,749 (-45.2%), from €6,077 to €3,329
- Other debts +€1,762
new in 2025: €1,762
- Staff costs +€65,344
up €65,344 (+327.8%), from €19,932 to €85,276
- Gross operating margin +€63,727
up €63,727 (+95.5%), from €66,720 to €130,447
- Depreciation +€7,267
up €7,267 (+158.7%), from €4,580 to €11,847
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.
Cash bridge derived
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 | €83,338 | €112,285 | +€28,947 | +34.7% |
| Fixed assets | 21/28 | €22,770 | €54,811 | +€32,041 | +140.7% |
| Tangible fixed assets | 22/27 | €22,565 | €54,606 | +€32,041 | +142.0% |
| Plant, machinery and equipment | 23 | €9,834 | €11,305 | +€1,471 | +15.0% |
| Furniture and vehicles | 24 | €6,464 | €19,993 | +€13,529 | +209.3% |
| Other tangible fixed assets | 26 | €6,267 | €23,308 | +€17,041 | +271.9% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €60,569 | €57,474 | -€3,094 | -5.1% |
| Stocks and contracts in progress | 3 | €25,997 | €33,696 | +€7,698 | +29.6% |
| Stocks | 30/36 | €25,997 | €33,696 | +€7,698 | +29.6% |
| Amounts receivable within one year | 40/41 | €3,123 | €7,558 | +€4,435 | +142.0% |
| Trade receivables | 40 | €3,077 | €802 | -€2,275 | -73.9% |
| Other amounts receivable | 41 | €47 | €6,756 | +€6,710 | +14352.3% |
| Cash at bank and in hand | 54/58 | €30,581 | €13,143 | -€17,437 | -57.0% |
| Deferred charges and accrued income | 490/1 | €867 | €3,078 | +€2,210 | +254.9% |
| Total equity and liabilities | 10/49 | €83,338 | €112,285 | +€28,947 | +34.7% |
| Equity | 10/15 | €36,153 | €59,492 | +€23,340 | +64.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,153 | €56,492 | +€23,340 | +70.4% |
| Amounts payable | 17/49 | €47,186 | €52,793 | +€5,608 | +11.9% |
| Amounts payable after more than one year | 17 | €22,956 | €22,234 | -€722 | -3.1% |
| Financial debts | 170/4 | €22,956 | €22,234 | -€722 | -3.1% |
| Amounts payable within one year | 42/48 | €24,230 | €30,560 | +€6,329 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €5,658 | €15,847 | +€10,188 | +180.1% |
| Trade debts | 44 | €6,077 | €3,329 | -€2,749 | -45.2% |
| Suppliers | 440/4 | €6,077 | €3,329 | -€2,749 | -45.2% |
| Taxes, remuneration and social security | 45 | €12,495 | €9,623 | -€2,872 | -23.0% |
| Taxes | 450/3 | €9,845 | €5,049 | -€4,796 | -48.7% |
| Remuneration and social security | 454/9 | €2,650 | €4,574 | +€1,924 | +72.6% |
| Other amounts payable | 47/48 | - | €1,762 | +€1,762 | |
| Remuneration, social security and pensions | 62 | €19,932 | €85,276 | +€65,344 | +327.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,580 | €11,847 | +€7,267 | +158.7% |
| Other operating charges | 640/8 | €1,420 | €1,795 | +€376 | +26.5% |
| Gross operating margin | 9900 | €66,720 | €130,447 | +€63,727 | +95.5% |
| Operating profit (loss) | 9901 | €40,788 | €31,529 | -€9,259 | -22.7% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €280 | €1,456 | +€1,176 | +420.5% |
| Recurring financial charges | 65 | €280 | €1,456 | +€1,176 | +420.5% |
| Profit (loss) for the period before taxes | 9903 | €40,509 | €30,111 | -€10,398 | -25.7% |
| Income taxes | 67/77 | €7,356 | €6,771 | -€585 | -8.0% |
| Profit (loss) for the period | 9904 | €33,153 | €23,340 | -€9,813 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,153 | €23,340 | -€9,813 | -29.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.