"CORTO IMMO": 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.
"CORTO IMMO"
Largest movements
- Tangible fixed assets -€23,438
down €23,438 (-8.2%), from €284,923 to €261,485
- Receivables within one year -€10,000
no longer reported in 2025 (was €10,000)
- Cash +€5,765
up €5,765 (+302.2%), from €1,907 to €7,672
mainly Investment in fixed assets (net) (+€12,687) and Net result for the year (+€10,876)
- Debts after one year -€34,394
down €34,394 (-13.9%), from €247,439 to €213,045
of which Other amounts payable: -€20,682
- Profit (loss) carried forward +€10,876
up €10,876, from -€3,786 to €7,090
- Other debts -€5,156
down €5,156 (-92.8%), from €5,556 to €400
- Taxes +€2,581
new in 2025: €2,581
- Financial income +€1,796
new in 2025: €1,796
- Gross operating margin -€1,594
down €1,594 (-5.1%), from €31,184 to €29,590
- Financial charges -€552
down €552 (-9.4%), from €5,868 to €5,316
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 | €298,580 | €270,907 | -€27,673 | -9.3% |
| Formation expenses | 20 | €1,750 | €1,750 | = | 0.0% |
| Fixed assets | 21/28 | €284,923 | €261,485 | -€23,438 | -8.2% |
| Tangible fixed assets | 22/27 | €284,923 | €261,485 | -€23,438 | -8.2% |
| Land and buildings | 22 | €284,923 | €261,485 | -€23,438 | -8.2% |
| Current assets | 29/58 | €11,907 | €7,672 | -€4,235 | -35.6% |
| Amounts receivable within one year | 40/41 | €10,000 | - | -€10,000 | |
| Trade receivables | 40 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €1,907 | €7,672 | +€5,765 | +302.2% |
| Total equity and liabilities | 10/49 | €298,580 | €270,907 | -€27,673 | -9.3% |
| Equity | 10/15 | €26,214 | €37,090 | +€10,876 | +41.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,786 | €7,090 | +€10,876 | |
| Amounts payable | 17/49 | €272,366 | €233,817 | -€38,549 | -14.2% |
| Amounts payable after more than one year | 17 | €247,439 | €213,045 | -€34,394 | -13.9% |
| Financial debts | 170/4 | €226,757 | €213,045 | -€13,712 | -6.0% |
| Other amounts payable | 178/9 | €20,682 | - | -€20,682 | |
| Amounts payable within one year | 42/48 | €22,377 | €18,222 | -€4,155 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €13,415 | €13,712 | +€297 | +2.2% |
| Trade debts | 44 | €3,406 | €1,528 | -€1,877 | -55.1% |
| Suppliers | 440/4 | €3,406 | €1,528 | -€1,877 | -55.1% |
| Taxes, remuneration and social security | 45 | - | €2,581 | +€2,581 | |
| Taxes | 450/3 | - | €2,581 | +€2,581 | |
| Other amounts payable | 47/48 | €5,556 | €400 | -€5,156 | -92.8% |
| Accrued charges and deferred income | 492/3 | €2,550 | €2,550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,636 | €10,751 | +€115 | +1.1% |
| Other operating charges | 640/8 | €1,804 | €1,861 | +€57 | +3.2% |
| Gross operating margin | 9900 | €31,184 | €29,590 | -€1,594 | -5.1% |
| Operating profit (loss) | 9901 | €18,744 | €16,978 | -€1,766 | -9.4% |
| Financial income | 75/76B | - | €1,796 | +€1,796 | |
| Recurring financial income | 75 | - | €1,796 | +€1,796 | |
| Financial charges | 65/66B | €5,868 | €5,316 | -€552 | -9.4% |
| Recurring financial charges | 65 | €5,868 | €5,316 | -€552 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €12,876 | €13,457 | +€582 | +4.5% |
| Income taxes | 67/77 | - | €2,581 | +€2,581 | |
| Profit (loss) for the period | 9904 | €12,876 | €10,876 | -€1,999 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,876 | €10,876 | -€1,999 | -15.5% |
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 6 October 2026 via checked.be.