Cortina: what changed
What changed
Cortina
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
-€15,349
2024 · €527-€15,876
Equity
€4,687
2024 · €20,036-€15,349
Cash
€17,390
2024 · €17,870-€480
Balance sheet total
€101,524
2024 · €92,634+€8,890
Largest movements
Assets
- Stocks and contracts -€13,324
down €13,324 (-37.3%), from €35,688 to €22,364
- Tangible fixed assets +€11,251
up €11,251 (+57.7%), from €19,493 to €30,744
of which Plant, machinery and equipment: +€16,829
- Receivables within one year +€6,593
up €6,593 (+36.7%), from €17,983 to €24,577
of which Trade receivables: +€9,855
- Deferred charges and accrued income +€4,850
up €4,850 (+303%), from €1,599 to €6,450
Equity and liabilities
- Debts after one year +€27,611
up €27,611 (+1,175%), from €2,350 to €29,961
of which Financial debts: +€14,407
- Short-term financial debts -€25,000
down €25,000 (-100%), from €25,000 to €0
- Trade debts +€16,563
up €16,563 (+60.6%), from €27,326 to €43,889
- Profit (loss) carried forward -€15,349
down €15,349, from €0 to -€15,349
- Current portion of long-term debt +€8,219
up €8,219 (+230%), from €3,569 to €11,788
Income statement
- Gross operating margin -€8,660
down €8,660 (-14.3%), from €60,525 to €51,865
- Staff costs +€7,219
up €7,219 (+17.3%), from €41,707 to €48,926
- Depreciation -€2,667
down €2,667 (-18.0%), from €14,814 to €12,147
- Financial charges +€2,231
up €2,231 (+80.3%), from €2,777 to €5,008
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€527
Gross operating margin
-€8,660
Staff costs
-€7,219
Depreciation
+€2,667
Other operating charges
-€492
Financial income
+€78
Financial charges
-€2,231
Taxes
-€18
Result 2025
-€15,349
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€12,088
Investment
-€23,399
Financing
+€10,830
Cash 2024
€17,870
From operations (derived)
+€12,088
Net result for the year
-€15,349
Depreciation
+€12,147
Stocks and contracts
+€13,324
Receivables within one year
-€6,593
Deferred charges and accrued income
-€4,850
Trade debts
+€16,563
Tax, wage and social debts
-€1,478
Other debts
-€962
Accrued charges and deferred income
-€714
Investment (derived)
-€23,399
Investment in fixed assets (net)
-€23,399
Financing
+€10,830
Debts after one year
+€27,611
Current portion of long-term debt
+€8,219
Short-term financial debts
-€25,000
Cash 2025
€17,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €92,634 | €101,524 | +€8,890 | +9.6% |
| Fixed assets | 21/28 | €19,493 | €30,744 | +€11,251 | +57.7% |
| Tangible fixed assets | 22/27 | €19,493 | €30,744 | +€11,251 | +57.7% |
| Land and buildings | 22 | - | €1,295 | +€1,295 | |
| Plant, machinery and equipment | 23 | €10,818 | €27,647 | +€16,829 | +156% |
| Furniture and vehicles | 24 | €1,143 | €918 | -€226 | -19.7% |
| Other tangible fixed assets | 26 | €7,532 | €885 | -€6,647 | -88.3% |
| Current assets | 29/58 | €73,141 | €70,780 | -€2,361 | -3.2% |
| Stocks and contracts in progress | 3 | €35,688 | €22,364 | -€13,324 | -37.3% |
| Stocks | 30/36 | €35,688 | €22,364 | -€13,324 | -37.3% |
| Amounts receivable within one year | 40/41 | €17,983 | €24,577 | +€6,593 | +36.7% |
| Trade receivables | 40 | €3,364 | €13,220 | +€9,855 | +293% |
| Other amounts receivable | 41 | €14,619 | €11,357 | -€3,262 | -22.3% |
| Cash at bank and in hand | 54/58 | €17,870 | €17,390 | -€480 | -2.7% |
| Deferred charges and accrued income | 490/1 | €1,599 | €6,450 | +€4,850 | +303% |
| Total equity and liabilities | 10/49 | €92,634 | €101,524 | +€8,890 | +9.6% |
| Equity | 10/15 | €20,036 | €4,687 | -€15,349 | -76.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,436 | €1,436 | = | 0.0% |
| Distributable reserves | 133 | €1,436 | €1,436 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€15,349 | -€15,349 | |
| Amounts payable | 17/49 | €72,598 | €96,837 | +€24,239 | +33.4% |
| Amounts payable after more than one year | 17 | €2,350 | €29,961 | +€27,611 | +1,175% |
| Financial debts | 170/4 | €0 | €14,407 | +€14,407 | |
| Other amounts payable | 178/9 | €2,350 | €15,554 | +€13,204 | +562% |
| Amounts payable within one year | 42/48 | €68,917 | €66,259 | -€2,658 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €3,569 | €11,788 | +€8,219 | +230% |
| Financial debts | 43 | €25,000 | €0 | -€25,000 | -100% |
| Credit institutions | 430/8 | €25,000 | €0 | -€25,000 | -100% |
| Trade debts | 44 | €27,326 | €43,889 | +€16,563 | +60.6% |
| Suppliers | 440/4 | €27,326 | €43,889 | +€16,563 | +60.6% |
| Taxes, remuneration and social security | 45 | €11,941 | €10,463 | -€1,478 | -12.4% |
| Taxes | 450/3 | €4,275 | €4,318 | +€43 | +1.0% |
| Remuneration and social security | 454/9 | €7,666 | €6,145 | -€1,522 | -19.8% |
| Other amounts payable | 47/48 | €1,081 | €119 | -€962 | -89.0% |
| Accrued charges and deferred income | 492/3 | €1,331 | €617 | -€714 | -53.6% |
| Non-recurring operating income | 76A | €4,380 | €0 | -€4,380 | -100% |
| Remuneration, social security and pensions | 62 | €41,707 | €48,926 | +€7,219 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,814 | €12,147 | -€2,667 | -18.0% |
| Other operating charges | 640/8 | €623 | €1,115 | +€492 | +79.0% |
| Gross operating margin | 9900 | €60,525 | €51,865 | -€8,660 | -14.3% |
| Operating profit (loss) | 9901 | €3,381 | -€10,323 | -€13,705 | |
| Financial income | 75/76B | €51 | €129 | +€78 | +153% |
| Recurring financial income | 75 | €51 | €129 | +€78 | +153% |
| Financial charges | 65/66B | €2,777 | €5,008 | +€2,231 | +80.3% |
| Recurring financial charges | 65 | €2,777 | €5,008 | +€2,231 | +80.3% |
| Profit (loss) for the period before taxes | 9903 | €655 | -€15,203 | -€15,858 | |
| Income taxes | 67/77 | €128 | €146 | +€18 | +14.0% |
| Profit (loss) for the period | 9904 | €527 | -€15,349 | -€15,876 | |
| Profit (loss) for the period to be appropriated | 9905 | €527 | -€15,349 | -€15,876 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.