CORTVRIENDT: 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.
CORTVRIENDT
Largest movements
- Cash +€56,036
up €56,036 (+527%), from €10,628 to €66,664
mainly Net result for the year (+€106,868) and Receivables within one year (+€37,430)
- Tangible fixed assets +€48,404
up €48,404 (+20.3%), from €238,481 to €286,885
of which Furniture and vehicles: +€36,247
- Receivables within one year -€37,430
down €37,430 (-70.8%), from €52,833 to €15,402
of which Trade receivables: -€39,175
- Stocks and contracts -€7,605
down €7,605 (-59.2%), from €12,850 to €5,245
- Reserves +€76,868
up €76,868 (+90.7%), from €84,765 to €161,633
of which Distributable reserves: +€76,868
- Trade debts -€8,959
down €8,959 (-50.6%), from €17,694 to €8,735
- Debts after one year -€5,104
down €5,104 (-4.9%), from €105,145 to €100,041
- Gross operating margin +€96,609
up €96,609 (+138%), from €69,800 to €166,409
- Depreciation +€10,875
up €10,875 (+60.7%), from €17,903 to €28,778
- Financial charges -€3,438
down €3,438 (-32.8%), from €10,467 to €7,029
- Taxes +€2,649
up €2,649 (+52.6%), from €5,038 to €7,687
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.
Derived cash bridge
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 | €318,651 | €378,703 | +€60,052 | +18.8% |
| Fixed assets | 21/28 | €239,483 | €287,886 | +€48,404 | +20.2% |
| Tangible fixed assets | 22/27 | €238,481 | €286,885 | +€48,404 | +20.3% |
| Land and buildings | 22 | €125,471 | €124,875 | -€596 | -0.5% |
| Plant, machinery and equipment | 23 | €100,951 | €113,972 | +€13,020 | +12.9% |
| Furniture and vehicles | 24 | €10,988 | €47,235 | +€36,247 | +330% |
| Other tangible fixed assets | 26 | €1,071 | €803 | -€268 | -25.0% |
| Financial fixed assets | 28 | €1,001 | €1,001 | = | 0.0% |
| Current assets | 29/58 | €79,168 | €90,816 | +€11,649 | +14.7% |
| Stocks and contracts in progress | 3 | €12,850 | €5,245 | -€7,605 | -59.2% |
| Stocks | 30/36 | €12,850 | €5,245 | -€7,605 | -59.2% |
| Amounts receivable within one year | 40/41 | €52,833 | €15,402 | -€37,430 | -70.8% |
| Trade receivables | 40 | €52,833 | €13,657 | -€39,175 | -74.1% |
| Other amounts receivable | 41 | - | €1,745 | +€1,745 | |
| Cash at bank and in hand | 54/58 | €10,628 | €66,664 | +€56,036 | +527% |
| Deferred charges and accrued income | 490/1 | €2,857 | €3,505 | +€648 | +22.7% |
| Total equity and liabilities | 10/49 | €318,651 | €378,703 | +€60,052 | +18.8% |
| Equity | 10/15 | €123,238 | €200,106 | +€76,868 | +62.4% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €84,765 | €161,633 | +€76,868 | +90.7% |
| Non-distributable reserves | 130/1 | €9,172 | €9,172 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Other | 1319 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €75,593 | €152,460 | +€76,868 | +102% |
| Profit (loss) carried forward | 14 | €8,726 | €8,726 | = | 0.0% |
| Amounts payable | 17/49 | €195,413 | €178,597 | -€16,815 | -8.6% |
| Amounts payable after more than one year | 17 | €105,145 | €100,041 | -€5,104 | -4.9% |
| Financial debts | 170/4 | €105,145 | €100,041 | -€5,104 | -4.9% |
| Amounts payable within one year | 42/48 | €89,589 | €78,556 | -€11,032 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €26,564 | €23,380 | -€3,184 | -12.0% |
| Trade debts | 44 | €17,694 | €8,735 | -€8,959 | -50.6% |
| Suppliers | 440/4 | €17,694 | €8,735 | -€8,959 | -50.6% |
| Taxes, remuneration and social security | 45 | €7,106 | €7,687 | +€580 | +8.2% |
| Taxes | 450/3 | €5,606 | €7,687 | +€2,080 | +37.1% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €38,224 | €38,754 | +€530 | +1.4% |
| Accrued charges and deferred income | 492/3 | €679 | - | -€679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,903 | €28,778 | +€10,875 | +60.7% |
| Other operating charges | 640/8 | €17,245 | €16,051 | -€1,194 | -6.9% |
| Gross operating margin | 9900 | €69,800 | €166,409 | +€96,609 | +138% |
| Operating profit (loss) | 9901 | €34,651 | €121,579 | +€86,929 | +251% |
| Financial income | 75/76B | €11 | €4 | -€7 | -63.8% |
| Recurring financial income | 75 | €11 | €4 | -€7 | -63.8% |
| Financial charges | 65/66B | €10,467 | €7,029 | -€3,438 | -32.8% |
| Recurring financial charges | 65 | €10,467 | €7,029 | -€3,438 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €24,195 | €114,554 | +€90,360 | +373% |
| Income taxes | 67/77 | €5,038 | €7,687 | +€2,649 | +52.6% |
| Profit (loss) for the period | 9904 | €19,157 | €106,868 | +€87,711 | +458% |
| Profit (loss) for the period to be appropriated | 9905 | €19,157 | €106,868 | +€87,711 | +458% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.