Corvo Branco: 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.
Corvo Branco
Largest movements
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Cash -€14,034
down €14,034 (-12.4%), from €112,972 to €98,938
mainly Contributions, distributions and other (-€100,000) and Tax, wage and social debts (-€3,316)
- Tangible fixed assets -€4,894
down €4,894 (-19.6%), from €24,934 to €20,040
of which Other tangible fixed assets: -€2,507
- Reserves -€55,124
down €55,124 (-75.9%), from €72,615 to €17,492
- Other debts +€16,982
up €16,982 (+20.5%), from €83,018 to €100,000
- Tax, wage and social debts -€3,316
down €3,316 (-31.8%), from €10,435 to €7,120
- Trade debts +€2,661
up €2,661 (+226.4%), from €1,175 to €3,836
- Gross operating margin +€2,379
up €2,379 (+3.9%), from €60,647 to €63,026
- Financial income -€1,250
no longer reported in 2025 (was €1,250)
- Taxes -€816
down €816 (-6.6%), from €12,452 to €11,636
- Financial charges -€770
down €770 (-80.2%), from €960 to €190
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 | €175,199 | €136,926 | -€38,273 | -21.8% |
| Fixed assets | 21/28 | €24,934 | €20,040 | -€4,894 | -19.6% |
| Tangible fixed assets | 22/27 | €24,934 | €20,040 | -€4,894 | -19.6% |
| Plant, machinery and equipment | 23 | €6,125 | €4,517 | -€1,608 | -26.3% |
| Furniture and vehicles | 24 | €1,593 | €814 | -€779 | -48.9% |
| Other tangible fixed assets | 26 | €17,216 | €14,709 | -€2,507 | -14.6% |
| Current assets | 29/58 | €150,265 | €116,886 | -€33,379 | -22.2% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 291 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €12,861 | €14,404 | +€1,542 | +12.0% |
| Trade receivables | 40 | €12,855 | €13,280 | +€425 | +3.3% |
| Other amounts receivable | 41 | €6 | €1,123 | +€1,117 | +17371.7% |
| Cash at bank and in hand | 54/58 | €112,972 | €98,938 | -€14,034 | -12.4% |
| Deferred charges and accrued income | 490/1 | €4,431 | €3,545 | -€886 | -20.0% |
| Total equity and liabilities | 10/49 | €175,199 | €136,926 | -€38,273 | -21.8% |
| Equity | 10/15 | €80,115 | €24,992 | -€55,124 | -68.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €72,615 | €17,492 | -€55,124 | -75.9% |
| Distributable reserves | 133 | €72,615 | €17,492 | -€55,124 | -75.9% |
| Amounts payable | 17/49 | €95,083 | €111,934 | +€16,851 | +17.7% |
| Amounts payable within one year | 42/48 | €94,629 | €110,956 | +€16,327 | +17.3% |
| Trade debts | 44 | €1,175 | €3,836 | +€2,661 | +226.4% |
| Suppliers | 440/4 | €1,175 | €3,836 | +€2,661 | +226.4% |
| Taxes, remuneration and social security | 45 | €10,435 | €7,120 | -€3,316 | -31.8% |
| Taxes | 450/3 | €10,435 | €7,120 | -€3,316 | -31.8% |
| Other amounts payable | 47/48 | €83,018 | €100,000 | +€16,982 | +20.5% |
| Accrued charges and deferred income | 492/3 | €454 | €978 | +€524 | +115.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,254 | €5,604 | +€350 | +6.7% |
| Other operating charges | 640/8 | €763 | €720 | -€44 | -5.7% |
| Gross operating margin | 9900 | €60,647 | €63,026 | +€2,379 | +3.9% |
| Operating profit (loss) | 9901 | €54,629 | €56,702 | +€2,073 | +3.8% |
| Financial income | 75/76B | €1,250 | - | -€1,250 | |
| Recurring financial income | 75 | €1,250 | - | -€1,250 | |
| Financial charges | 65/66B | €960 | €190 | -€770 | -80.2% |
| Recurring financial charges | 65 | €960 | €190 | -€770 | -80.2% |
| Profit (loss) for the period before taxes | 9903 | €54,920 | €56,512 | +€1,592 | +2.9% |
| Income taxes | 67/77 | €12,452 | €11,636 | -€816 | -6.6% |
| Profit (loss) for the period | 9904 | €42,468 | €44,876 | +€2,409 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,468 | €44,876 | +€2,409 | +5.7% |
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.