CORVERS FRANK: 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.
CORVERS FRANK
Largest movements
- Cash +€206,289
up €206,289 (+110%), from €187,108 to €393,397
mainly Net result for the year (+€327,083) and Depreciation (+€29,275)
- Current investments +€67,729
up €67,729 (+68.4%), from €99,077 to €166,806
- Tangible fixed assets -€28,462
down €28,462 (-26.9%), from €105,630 to €77,168
of which Furniture and vehicles: -€27,643
- Reserves +€262,370
up €262,370 (+18.1%), from €1.5m to €1.7m
- Debts after one year -€24,304
down €24,304 (-27.1%), from €89,820 to €65,516
- Financial income +€147,536
up €147,536 (+137%), from €107,791 to €255,327
- Staff costs -€30,401
down €30,401 (-94.7%), from €32,095 to €1,694
- Gross operating margin -€29,949
down €29,949 (-18.6%), from €161,151 to €131,202
- Taxes -€15,179
down €15,179 (-43.2%), from €35,159 to €19,980
- Other operating charges -€2,213
down €2,213 (-76.4%), from €2,897 to €684
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 | €1,609,019 | €1,849,832 | +€240,813 | +15.0% |
| Fixed assets | 21/28 | €1,255,630 | €1,227,168 | -€28,462 | -2.3% |
| Tangible fixed assets | 22/27 | €105,630 | €77,168 | -€28,462 | -26.9% |
| Land and buildings | 22 | €819 | - | -€819 | |
| Furniture and vehicles | 24 | €104,811 | €77,168 | -€27,643 | -26.4% |
| Financial fixed assets | 28 | €1,150,000 | €1,150,000 | = | 0.0% |
| Current assets | 29/58 | €353,389 | €622,663 | +€269,275 | +76.2% |
| Amounts receivable within one year | 40/41 | €65,603 | €61,062 | -€4,541 | -6.9% |
| Trade receivables | 40 | €60,500 | €30,250 | -€30,250 | -50.0% |
| Other amounts receivable | 41 | €5,103 | €30,812 | +€25,709 | +504% |
| Current investments | 50/53 | €99,077 | €166,806 | +€67,729 | +68.4% |
| Cash at bank and in hand | 54/58 | €187,108 | €393,397 | +€206,289 | +110% |
| Deferred charges and accrued income | 490/1 | €1,601 | €1,398 | -€203 | -12.7% |
| Total equity and liabilities | 10/49 | €1,609,019 | €1,849,832 | +€240,813 | +15.0% |
| Equity | 10/15 | €1,469,451 | €1,731,821 | +€262,370 | +17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,450,851 | €1,713,221 | +€262,370 | +18.1% |
| Distributable reserves | 133 | €1,450,851 | €1,713,221 | +€262,370 | +18.1% |
| Amounts payable | 17/49 | €139,568 | €118,011 | -€21,558 | -15.4% |
| Amounts payable after more than one year | 17 | €89,820 | €65,516 | -€24,304 | -27.1% |
| Financial debts | 170/4 | €89,820 | €65,516 | -€24,304 | -27.1% |
| Amounts payable within one year | 42/48 | €49,063 | €51,807 | +€2,744 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €24,193 | €24,591 | +€398 | +1.6% |
| Trade debts | 44 | €2,437 | €7,375 | +€4,938 | +203% |
| Suppliers | 440/4 | €2,437 | €7,375 | +€4,938 | +203% |
| Taxes, remuneration and social security | 45 | €18,609 | €15,671 | -€2,938 | -15.8% |
| Taxes | 450/3 | €18,609 | €15,671 | -€2,938 | -15.8% |
| Other amounts payable | 47/48 | €3,823 | €4,170 | +€346 | +9.1% |
| Accrued charges and deferred income | 492/3 | €685 | €688 | +€3 | +0.4% |
| Non-recurring operating income | 76A | €38,338 | - | -€38,338 | |
| Remuneration, social security and pensions | 62 | €32,095 | €1,694 | -€30,401 | -94.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,090 | €29,275 | +€185 | +0.6% |
| Other operating charges | 640/8 | €2,897 | €684 | -€2,213 | -76.4% |
| Gross operating margin | 9900 | €161,151 | €131,202 | -€29,949 | -18.6% |
| Operating profit (loss) | 9901 | €97,069 | €99,550 | +€2,481 | +2.6% |
| Financial income | 75/76B | €107,791 | €255,327 | +€147,536 | +137% |
| Recurring financial income | 75 | €107,791 | €255,327 | +€147,536 | +137% |
| Financial charges | 65/66B | €6,588 | €7,813 | +€1,225 | +18.6% |
| Recurring financial charges | 65 | €6,588 | €7,813 | +€1,225 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €198,271 | €347,064 | +€148,792 | +75.0% |
| Income taxes | 67/77 | €35,159 | €19,980 | -€15,179 | -43.2% |
| Profit (loss) for the period | 9904 | €163,112 | €327,083 | +€163,971 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €163,112 | €327,083 | +€163,971 | +101% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.