Corvum: 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.
Corvum
Largest movements
- Tangible fixed assets +€365,541
up €365,541 (+1577.9%), from €23,166 to €388,707
of which Land and buildings: +€378,732
- Cash -€48,440
down €48,440 (-48.0%), from €100,918 to €52,479
mainly Investment in fixed assets (net) (-€347,553) and Net result for the year (-€32,813)
- Financial fixed assets -€38,500
no longer reported in 2025 (was €38,500)
- Receivables within one year +€4,850
up €4,850 (+33.0%), from €14,702 to €19,552
of which Other amounts receivable: +€2,745
- Debts after one year +€316,151
up €316,151 (+5706.1%), from €5,541 to €321,692
- Reserves -€62,813
down €62,813 (-45.9%), from €136,837 to €74,024
- Current portion of long-term debt +€18,405
up €18,405 (+286.9%), from €6,415 to €24,820
- Other debts +€17,686
up €17,686 (+154.1%), from €11,478 to €29,164
- Tax, wage and social debts -€7,730
down €7,730 (-61.6%), from €12,555 to €4,826
- Gross operating margin -€69,973
down €69,973 (-59.6%), from €117,310 to €47,337
- Other operating charges +€49,054
up €49,054 (+6430.4%), from €763 to €49,817
- Taxes -€24,166
down €24,166 (-98.8%), from €24,451 to €285
- Depreciation +€17,296
up €17,296 (+537.7%), from €3,217 to €20,513
- Financial charges +€7,810
up €7,810 (+452.5%), from €1,726 to €9,535
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 | €178,474 | €461,147 | +€282,673 | +158.4% |
| Fixed assets | 21/28 | €61,666 | €388,707 | +€327,041 | +530.3% |
| Tangible fixed assets | 22/27 | €23,166 | €388,707 | +€365,541 | +1577.9% |
| Land and buildings | 22 | - | €378,732 | +€378,732 | |
| Furniture and vehicles | 24 | €23,166 | €9,975 | -€13,192 | -56.9% |
| Financial fixed assets | 28 | €38,500 | - | -€38,500 | |
| Current assets | 29/58 | €116,808 | €72,440 | -€44,368 | -38.0% |
| Amounts receivable within one year | 40/41 | €14,702 | €19,552 | +€4,850 | +33.0% |
| Trade receivables | 40 | €14,702 | €16,807 | +€2,105 | +14.3% |
| Other amounts receivable | 41 | - | €2,745 | +€2,745 | |
| Cash at bank and in hand | 54/58 | €100,918 | €52,479 | -€48,440 | -48.0% |
| Deferred charges and accrued income | 490/1 | €1,187 | €409 | -€778 | -65.5% |
| Total equity and liabilities | 10/49 | €178,474 | €461,147 | +€282,673 | +158.4% |
| Equity | 10/15 | €141,837 | €79,024 | -€62,813 | -44.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €136,837 | €74,024 | -€62,813 | -45.9% |
| Distributable reserves | 133 | €136,837 | €74,024 | -€62,813 | -45.9% |
| Amounts payable | 17/49 | €36,637 | €382,122 | +€345,485 | +943.0% |
| Amounts payable after more than one year | 17 | €5,541 | €321,692 | +€316,151 | +5706.1% |
| Financial debts | 170/4 | €5,541 | €321,692 | +€316,151 | +5706.1% |
| Amounts payable within one year | 42/48 | €31,096 | €60,431 | +€29,334 | +94.3% |
| Current portion of amounts payable after more than one year | 42 | €6,415 | €24,820 | +€18,405 | +286.9% |
| Trade debts | 44 | €648 | €1,621 | +€973 | +150.1% |
| Suppliers | 440/4 | €648 | €1,621 | +€973 | +150.1% |
| Taxes, remuneration and social security | 45 | €12,555 | €4,826 | -€7,730 | -61.6% |
| Taxes | 450/3 | €12,555 | €4,826 | -€7,730 | -61.6% |
| Other amounts payable | 47/48 | €11,478 | €29,164 | +€17,686 | +154.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,217 | €20,513 | +€17,296 | +537.7% |
| Other operating charges | 640/8 | €763 | €49,817 | +€49,054 | +6430.4% |
| Gross operating margin | 9900 | €117,310 | €47,337 | -€69,973 | -59.6% |
| Operating profit (loss) | 9901 | €113,330 | -€22,992 | -€136,323 | |
| Financial income | 75/76B | €2 | €0 | -€1 | -92.5% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -92.5% |
| Financial charges | 65/66B | €1,726 | €9,535 | +€7,810 | +452.5% |
| Recurring financial charges | 65 | €1,726 | €9,535 | +€7,810 | +452.5% |
| Profit (loss) for the period before taxes | 9903 | €111,606 | -€32,528 | -€144,134 | |
| Income taxes | 67/77 | €24,451 | €285 | -€24,166 | -98.8% |
| Profit (loss) for the period | 9904 | €87,155 | -€32,813 | -€119,968 | |
| Profit (loss) for the period to be appropriated | 9905 | €87,155 | -€32,813 | -€119,968 |
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 12 October 2026 via checked.be.