CORVAL: 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.
CORVAL
Largest movements
- Cash -€14,673
down €14,673 (-87.0%), from €16,871 to €2,199
mainly Net result for the year (-€69,180) and Short-term financial debts (-€8,613)
- Tangible fixed assets -€3,059
down €3,059 (-26.7%), from €11,457 to €8,398
of which Furniture and vehicles: -€1,950
- Stocks and contracts -€2,295
down €2,295 (-16.1%), from €14,279 to €11,984
- Profit (loss) carried forward -€69,180
down €69,180 (-66.2%), from -€104,571 to -€173,751
- Trade debts +€47,612
up €47,612 (+96.9%), from €49,131 to €96,743
- Other debts +€12,754
up €12,754 (+66.9%), from €19,060 to €31,815
- Short-term financial debts -€8,613
down €8,613 (-23.4%), from €36,815 to €28,202
- Debts after one year -€4,069
down €4,069 (-25.9%), from €15,683 to €11,614
- Staff costs -€70,561
down €70,561 (-27.8%), from €253,839 to €183,278
- Gross operating margin -€60,724
down €60,724 (-32.6%), from €186,277 to €125,554
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 | €46,631 | €26,887 | -€19,744 | -42.3% |
| Fixed assets | 21/28 | €14,413 | €11,354 | -€3,059 | -21.2% |
| Tangible fixed assets | 22/27 | €11,457 | €8,398 | -€3,059 | -26.7% |
| Furniture and vehicles | 24 | €10,007 | €8,058 | -€1,950 | -19.5% |
| Other tangible fixed assets | 26 | €1,450 | €340 | -€1,110 | -76.5% |
| Financial fixed assets | 28 | €2,956 | €2,956 | = | 0.0% |
| Current assets | 29/58 | €32,218 | €15,534 | -€16,684 | -51.8% |
| Stocks and contracts in progress | 3 | €14,279 | €11,984 | -€2,295 | -16.1% |
| Stocks | 30/36 | €14,279 | €11,984 | -€2,295 | -16.1% |
| Amounts receivable within one year | 40/41 | €1,068 | €1,352 | +€284 | +26.6% |
| Other amounts receivable | 41 | €1,068 | €1,352 | +€284 | +26.6% |
| Cash at bank and in hand | 54/58 | €16,871 | €2,199 | -€14,673 | -87.0% |
| Total equity and liabilities | 10/49 | €46,631 | €26,887 | -€19,744 | -42.3% |
| Equity | 10/15 | -€84,119 | -€153,300 | -€69,180 | -82.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,571 | -€173,751 | -€69,180 | -66.2% |
| Amounts payable | 17/49 | €130,750 | €180,187 | +€49,437 | +37.8% |
| Amounts payable after more than one year | 17 | €15,683 | €11,614 | -€4,069 | -25.9% |
| Financial debts | 170/4 | €15,683 | €11,614 | -€4,069 | -25.9% |
| Amounts payable within one year | 42/48 | €115,067 | €168,573 | +€53,506 | +46.5% |
| Financial debts | 43 | €36,815 | €28,202 | -€8,613 | -23.4% |
| Credit institutions | 430/8 | €36,815 | €28,202 | -€8,613 | -23.4% |
| Trade debts | 44 | €49,131 | €96,743 | +€47,612 | +96.9% |
| Suppliers | 440/4 | €49,131 | €96,743 | +€47,612 | +96.9% |
| Taxes, remuneration and social security | 45 | €10,061 | €11,813 | +€1,752 | +17.4% |
| Taxes | 450/3 | €8,855 | €4,272 | -€4,584 | -51.8% |
| Remuneration and social security | 454/9 | €1,206 | €7,541 | +€6,336 | +525.5% |
| Other amounts payable | 47/48 | €19,060 | €31,815 | +€12,754 | +66.9% |
| Remuneration, social security and pensions | 62 | €253,839 | €183,278 | -€70,561 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,036 | €3,059 | +€24 | +0.8% |
| Other operating charges | 640/8 | €1,192 | €1,186 | -€6 | -0.5% |
| Gross operating margin | 9900 | €186,277 | €125,554 | -€60,724 | -32.6% |
| Operating profit (loss) | 9901 | -€71,789 | -€61,970 | +€9,819 | +13.7% |
| Financial income | 75/76B | €1 | €1 | -€1 | -58.0% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -58.0% |
| Financial charges | 65/66B | €7,072 | €7,066 | -€6 | -0.1% |
| Recurring financial charges | 65 | €7,072 | €7,066 | -€6 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€78,860 | -€69,035 | +€9,825 | +12.5% |
| Income taxes | 67/77 | €110 | €145 | +€36 | +32.5% |
| Profit (loss) for the period | 9904 | -€78,969 | -€69,180 | +€9,789 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,969 | -€69,180 | +€9,789 | +12.4% |
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 2 October 2026 via checked.be.