CORTRANS: 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.
CORTRANS
Largest movements
- Tangible fixed assets +€131,843
up €131,843 (+151.2%), from €87,224 to €219,067
of which Furniture and vehicles: +€102,295
- Receivables within one year +€90,783
up €90,783 (+330.9%), from €27,432 to €118,215
of which Trade receivables: +€90,761
- Cash -€5,479
down €5,479 (-99.8%), from €5,490 to €11
mainly Investment in fixed assets (net) (-€155,938) and Net result for the year (-€140,842)
- Trade debts +€265,728
up €265,728 (+529.2%), from €50,217 to €315,944
- Profit (loss) carried forward -€140,842
down €140,842 (-187.7%), from -€75,038 to -€215,881
- Debts after one year +€104,325
new in 2025: €104,325
- Current portion of long-term debt -€31,196
down €31,196 (-37.4%), from €83,408 to €52,212
- Tax, wage and social debts +€15,046
up €15,046 (+42.1%), from €35,759 to €50,805
of which Remuneration and social security: +€17,016
- Staff costs +€123,727
up €123,727 (+61.9%), from €199,813 to €323,541
- Gross operating margin +€89,450
up €89,450 (+68.0%), from €131,619 to €221,070
- Depreciation +€21,069
up €21,069 (+696.2%), from €3,026 to €24,095
- Financial charges +€5,454
up €5,454 (+188.1%), from €2,900 to €8,354
- Other operating charges +€5,004
up €5,004 (+544.6%), from €919 to €5,923
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 | €120,845 | €338,381 | +€217,536 | +180.0% |
| Fixed assets | 21/28 | €87,524 | €219,367 | +€131,843 | +150.6% |
| Tangible fixed assets | 22/27 | €87,224 | €219,067 | +€131,843 | +151.2% |
| Plant, machinery and equipment | 23 | - | €29,548 | +€29,548 | |
| Furniture and vehicles | 24 | €87,224 | €189,519 | +€102,295 | +117.3% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €33,321 | €119,014 | +€85,693 | +257.2% |
| Amounts receivable within one year | 40/41 | €27,432 | €118,215 | +€90,783 | +330.9% |
| Trade receivables | 40 | €27,270 | €118,031 | +€90,761 | +332.8% |
| Other amounts receivable | 41 | €162 | €184 | +€22 | +13.3% |
| Cash at bank and in hand | 54/58 | €5,490 | €11 | -€5,479 | -99.8% |
| Deferred charges and accrued income | 490/1 | €399 | €789 | +€389 | +97.5% |
| Total equity and liabilities | 10/49 | €120,845 | €338,381 | +€217,536 | +180.0% |
| Equity | 10/15 | -€50,038 | -€190,881 | -€140,842 | -281.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,038 | -€215,881 | -€140,842 | -187.7% |
| Amounts payable | 17/49 | €170,883 | €529,262 | +€358,378 | +209.7% |
| Amounts payable after more than one year | 17 | - | €104,325 | +€104,325 | |
| Financial debts | 170/4 | - | €104,325 | +€104,325 | |
| Amounts payable within one year | 42/48 | €170,883 | €424,936 | +€254,053 | +148.7% |
| Current portion of amounts payable after more than one year | 42 | €83,408 | €52,212 | -€31,196 | -37.4% |
| Financial debts | 43 | - | €4,475 | +€4,475 | |
| Credit institutions | 430/8 | - | €4,475 | +€4,475 | |
| Trade debts | 44 | €50,217 | €315,944 | +€265,728 | +529.2% |
| Suppliers | 440/4 | €50,217 | €315,944 | +€265,728 | +529.2% |
| Taxes, remuneration and social security | 45 | €35,759 | €50,805 | +€15,046 | +42.1% |
| Taxes | 450/3 | €17,549 | €15,579 | -€1,970 | -11.2% |
| Remuneration and social security | 454/9 | €18,210 | €35,226 | +€17,016 | +93.4% |
| Other amounts payable | 47/48 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €199,813 | €323,541 | +€123,727 | +61.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,026 | €24,095 | +€21,069 | +696.2% |
| Other operating charges | 640/8 | €919 | €5,923 | +€5,004 | +544.6% |
| Gross operating margin | 9900 | €131,619 | €221,070 | +€89,450 | +68.0% |
| Operating profit (loss) | 9901 | -€72,139 | -€132,489 | -€60,350 | -83.7% |
| Financial income | 75/76B | €1 | €1 | -€0 | -43.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -43.6% |
| Financial charges | 65/66B | €2,900 | €8,354 | +€5,454 | +188.1% |
| Recurring financial charges | 65 | €2,900 | €8,354 | +€5,454 | +188.1% |
| Profit (loss) for the period before taxes | 9903 | -€75,038 | -€140,842 | -€65,804 | -87.7% |
| Profit (loss) for the period | 9904 | -€75,038 | -€140,842 | -€65,804 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,038 | -€140,842 | -€65,804 | -87.7% |
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 7 October 2026 via checked.be.