CORTO: 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.
CORTO
Largest movements
- Cash -€124,822
down €124,822 (-28.2%), from €442,650 to €317,828
mainly Net result for the year (-€646,185) and Accrued charges and deferred income (-€35,118)
- Tangible fixed assets -€56,181
down €56,181 (-6.9%), from €814,173 to €757,992
of which Land and buildings: -€45,904
- Receivables within one year -€50,618
down €50,618 (-23.8%), from €212,522 to €161,903
- Profit (loss) carried forward -€646,185
down €646,185, from €68,104 to -€578,081
- Provisions +€420,437
up €420,437 (+2,554%), from €16,463 to €436,900
- Accrued charges and deferred income -€35,118
down €35,118 (-46.7%), from €75,239 to €40,121
- Tax, wage and social debts +€20,328
up €20,328 (+13.4%), from €151,178 to €171,506
of which Remuneration and social security: +€40,155
- Gross operating margin -€147,583
down €147,583 (-16.1%), from €915,376 to €767,793
- Staff costs +€81,803
up €81,803 (+9.6%), from €848,071 to €929,874
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 | €1,481,826 | €1,238,788 | -€243,039 | -16.4% |
| Fixed assets | 21/28 | €814,173 | €757,992 | -€56,181 | -6.9% |
| Tangible fixed assets | 22/27 | €814,173 | €757,992 | -€56,181 | -6.9% |
| Land and buildings | 22 | €788,899 | €742,994 | -€45,904 | -5.8% |
| Plant, machinery and equipment | 23 | €5,308 | €3,656 | -€1,653 | -31.1% |
| Furniture and vehicles | 24 | €17,590 | €9,757 | -€7,833 | -44.5% |
| Leasing and similar rights | 25 | €2,376 | €1,585 | -€791 | -33.3% |
| Current assets | 29/58 | €667,653 | €480,796 | -€186,858 | -28.0% |
| Amounts receivable within one year | 40/41 | €212,522 | €161,903 | -€50,618 | -23.8% |
| Trade receivables | 40 | €212,522 | €161,903 | -€50,618 | -23.8% |
| Cash at bank and in hand | 54/58 | €442,650 | €317,828 | -€124,822 | -28.2% |
| Deferred charges and accrued income | 490/1 | €12,482 | €1,064 | -€11,417 | -91.5% |
| Total equity and liabilities | 10/49 | €1,481,826 | €1,238,788 | -€243,039 | -16.4% |
| Equity | 10/15 | €990,261 | €329,856 | -€660,405 | -66.7% |
| Contributions | 10/11 | €157,490 | €157,490 | = | 0.0% |
| Capital | 10 | €157,490 | €157,490 | = | 0.0% |
| Revaluation surpluses | 12 | €550,000 | €550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,104 | -€578,081 | -€646,185 | |
| Investment grants | 15 | €214,668 | €200,448 | -€14,220 | -6.6% |
| Provisions and deferred taxes | 16 | €16,463 | €436,900 | +€420,437 | +2,554% |
| Provisions for liabilities and charges | 160/5 | €16,463 | €436,900 | +€420,437 | +2,554% |
| Major repairs and maintenance | 162 | €4,490 | - | -€4,490 | |
| Other liabilities and charges | 164/5 | €11,973 | €436,900 | +€424,927 | +3,549% |
| Amounts payable | 17/49 | €475,102 | €472,032 | -€3,070 | -0.6% |
| Amounts payable after more than one year | 17 | €788 | €788 | = | 0.0% |
| Other amounts payable | 178/9 | €788 | €788 | = | 0.0% |
| Amounts payable within one year | 42/48 | €399,075 | €431,124 | +€32,048 | +8.0% |
| Financial debts | 43 | €231,426 | €245,323 | +€13,897 | +6.0% |
| Credit institutions | 430/8 | €231,426 | €245,323 | +€13,897 | +6.0% |
| Trade debts | 44 | €16,472 | €14,295 | -€2,177 | -13.2% |
| Suppliers | 440/4 | €16,472 | €14,295 | -€2,177 | -13.2% |
| Taxes, remuneration and social security | 45 | €151,178 | €171,506 | +€20,328 | +13.4% |
| Taxes | 450/3 | €19,827 | - | -€19,827 | |
| Remuneration and social security | 454/9 | €131,352 | €171,506 | +€40,155 | +30.6% |
| Accrued charges and deferred income | 492/3 | €75,239 | €40,121 | -€35,118 | -46.7% |
| Non-recurring operating income | 76A | €1,150 | - | -€1,150 | |
| Remuneration, social security and pensions | 62 | €848,071 | €929,874 | +€81,803 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,935 | €56,181 | -€755 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,349 | €4,306 | -€43 | -1.0% |
| Other operating charges | 640/8 | €4,435 | €3,393 | -€1,042 | -23.5% |
| Non-recurring operating charges | 66A | €355 | €437,348 | +€436,992 | +122,982% |
| Gross operating margin | 9900 | €915,376 | €767,793 | -€147,583 | -16.1% |
| Operating profit (loss) | 9901 | €11,040 | -€646,846 | -€657,886 | |
| Financial income | 75/76B | €14,355 | €15,014 | +€660 | +4.6% |
| Recurring financial income | 75 | €14,355 | €15,014 | +€660 | +4.6% |
| Financial charges | 65/66B | €10,309 | €14,354 | +€4,045 | +39.2% |
| Recurring financial charges | 65 | €10,309 | €14,354 | +€4,045 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €15,086 | -€646,185 | -€661,271 | |
| Profit (loss) for the period | 9904 | €15,086 | -€646,185 | -€661,271 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,086 | -€646,185 | -€661,271 |
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 13 October 2026 via checked.be.