CORVELEIJN PATRICK: 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.
CORVELEIJN PATRICK
Largest movements
- Receivables within one year -€191,590
down €191,590 (-70.5%), from €271,701 to €80,111
of which Trade receivables: -€192,007
- Cash +€100,391
up €100,391 (+135.9%), from €73,849 to €174,241
mainly Receivables within one year (+€191,590) and Depreciation (+€27,925)
- Stocks and contracts +€41,122
up €41,122 (+200.9%), from €20,468 to €61,590
- Tangible fixed assets +€14,431
up €14,431 (+16.9%), from €85,567 to €99,998
of which Plant, machinery and equipment: +€32,736
- Trade debts -€38,296
down €38,296 (-53.1%), from €72,065 to €33,769
- Reserves +€26,729
up €26,729 (+16.4%), from €163,301 to €190,030
- Debts after one year -€17,139
down €17,139 (-25.1%), from €68,329 to €51,190
- Current portion of long-term debt -€7,300
down €7,300 (-29.9%), from €24,439 to €17,139
- Tax, wage and social debts +€6,058
up €6,058 (+26.6%), from €22,748 to €28,806
- Gross operating margin -€16,315
down €16,315 (-18.7%), from €87,022 to €70,707
- Depreciation -€4,888
down €4,888 (-14.9%), from €32,813 to €27,925
- Financial income +€4,063
up €4,063 (+1182.0%), from €344 to €4,407
of which Non-recurring financial income: +€4,100
- Financial charges -€3,469
down €3,469 (-45.9%), from €7,552 to €4,083
- Taxes +€1,915
up €1,915 (+16.1%), from €11,882 to €13,796
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 | €456,033 | €420,306 | -€35,728 | -7.8% |
| Fixed assets | 21/28 | €85,567 | €99,998 | +€14,431 | +16.9% |
| Tangible fixed assets | 22/27 | €85,567 | €99,998 | +€14,431 | +16.9% |
| Land and buildings | 22 | €38,467 | €30,230 | -€8,236 | -21.4% |
| Plant, machinery and equipment | 23 | €6,994 | €39,730 | +€32,736 | +468.1% |
| Furniture and vehicles | 24 | €1,555 | €1,123 | -€432 | -27.8% |
| Leasing and similar rights | 25 | €38,552 | €28,914 | -€9,638 | -25.0% |
| Current assets | 29/58 | €370,466 | €320,308 | -€50,158 | -13.5% |
| Stocks and contracts in progress | 3 | €20,468 | €61,590 | +€41,122 | +200.9% |
| Stocks | 30/36 | €20,468 | €61,590 | +€41,122 | +200.9% |
| Amounts receivable within one year | 40/41 | €271,701 | €80,111 | -€191,590 | -70.5% |
| Trade receivables | 40 | €268,384 | €76,377 | -€192,007 | -71.5% |
| Other amounts receivable | 41 | €3,317 | €3,734 | +€417 | +12.6% |
| Cash at bank and in hand | 54/58 | €73,849 | €174,241 | +€100,391 | +135.9% |
| Deferred charges and accrued income | 490/1 | €4,448 | €4,367 | -€81 | -1.8% |
| Total equity and liabilities | 10/49 | €456,033 | €420,306 | -€35,728 | -7.8% |
| Equity | 10/15 | €242,201 | €268,930 | +€26,729 | +11.0% |
| Contributions | 10/11 | €78,900 | €78,900 | = | 0.0% |
| Reserves | 13 | €163,301 | €190,030 | +€26,729 | +16.4% |
| Distributable reserves | 133 | €163,301 | €190,030 | +€26,729 | +16.4% |
| Amounts payable | 17/49 | €213,832 | €151,376 | -€62,457 | -29.2% |
| Amounts payable after more than one year | 17 | €68,329 | €51,190 | -€17,139 | -25.1% |
| Financial debts | 170/4 | €68,329 | €51,190 | -€17,139 | -25.1% |
| Amounts payable within one year | 42/48 | €145,503 | €100,186 | -€45,317 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €24,439 | €17,139 | -€7,300 | -29.9% |
| Trade debts | 44 | €72,065 | €33,769 | -€38,296 | -53.1% |
| Suppliers | 440/4 | €72,065 | €33,769 | -€38,296 | -53.1% |
| Taxes, remuneration and social security | 45 | €22,748 | €28,806 | +€6,058 | +26.6% |
| Taxes | 450/3 | €22,748 | €28,806 | +€6,058 | +26.6% |
| Other amounts payable | 47/48 | €26,251 | €20,471 | -€5,780 | -22.0% |
| Non-recurring operating income | 76A | - | €29,140 | +€29,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,813 | €27,925 | -€4,888 | -14.9% |
| Other operating charges | 640/8 | €4,284 | €2,581 | -€1,704 | -39.8% |
| Non-recurring operating charges | 66A | €1,946 | - | -€1,946 | |
| Gross operating margin | 9900 | €87,022 | €70,707 | -€16,315 | -18.7% |
| Operating profit (loss) | 9901 | €47,979 | €40,202 | -€7,778 | -16.2% |
| Financial income | 75/76B | €344 | €4,407 | +€4,063 | +1182.0% |
| Recurring financial income | 75 | €344 | €307 | -€37 | -10.6% |
| Non-recurring financial income | 76B | - | €4,100 | +€4,100 | |
| Financial charges | 65/66B | €7,552 | €4,083 | -€3,469 | -45.9% |
| Recurring financial charges | 65 | €7,552 | €4,083 | -€3,469 | -45.9% |
| Profit (loss) for the period before taxes | 9903 | €40,771 | €40,525 | -€245 | -0.6% |
| Income taxes | 67/77 | €11,882 | €13,796 | +€1,915 | +16.1% |
| Profit (loss) for the period | 9904 | €28,889 | €26,729 | -€2,160 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,889 | €26,729 | -€2,160 | -7.5% |
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 11 October 2026 via checked.be.