De Cort Distillery: 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.
What changed
De Cort Distillery
NACE 11.010, Manufacture of beverages
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€91,414
2024 · €62,318-€153,732
Equity
€417,092
2024 · €508,506-€91,414
Cash
€123,303
2024 · €134,501-€11,198
Balance sheet total
€2.2m
2024 · €2.3m-€44,097
Largest movements
Assets
- Tangible fixed assets -€69,058
down €69,058 (-7.0%), from €980,819 to €911,761
- Receivables within one year +€64,916
up €64,916 (+19.8%), from €328,035 to €392,951
of which Other amounts receivable: +€97,116
- Stocks and contracts +€42,027
up €42,027 (+7.8%), from €537,763 to €579,790
- Receivables after one year -€39,902
down €39,902 (-23.7%), from €168,329 to €128,426
Equity and liabilities
- Other debts +€103,366
up €103,366 (+9.4%), from €1.1m to €1.2m
- Profit (loss) carried forward -€91,414
down €91,414 (-23.6%), from €388,046 to €296,632
- Debts after one year -€65,196
down €65,196 (-12.8%), from €508,454 to €443,258
of which Financial debts: -€65,196
Income statement
- Gross operating margin -€170,115
down €170,115 (-52.5%), from €323,888 to €153,773
- Taxes -€14,389
no longer reported in 2025 (was €14,389)
- Other operating charges -€11,249
down €11,249 (-70.3%), from €16,006 to €4,757
- Depreciation +€6,227
up €6,227 (+4.4%), from €140,078 to €146,305
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.
Result 2024
€62,318
Gross operating margin
-€170,115
Staff costs
-€2,513
Depreciation
-€6,227
Provisions
-€65
Other operating charges
+€11,249
Financial income
-€1,358
Financial charges
+€908
Taxes
+€14,389
Result 2025
-€91,414
raises the resultlowers the result
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.
From operations
+€100,364
Investment
-€67,247
Financing
-€44,316
Cash 2024
€134,501
From operations (derived)
+€100,364
Net result for the year
-€91,414
Depreciation
+€146,305
Receivables after one year
+€39,902
Stocks and contracts
-€42,027
Receivables within one year
-€64,916
Deferred charges and accrued income
+€20,881
Trade debts
-€3,382
Tax, wage and social debts
-€10,860
Other debts
+€103,366
Accrued charges and deferred income
+€2,510
Investment (derived)
-€67,247
Investment in fixed assets (net)
-€67,247
Financing
-€44,316
Debts after one year
-€65,196
Current portion of long-term debt
+€20,881
Cash 2025
€123,303
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,277,974 | €2,233,877 | -€44,097 | -1.9% |
| Fixed assets | 21/28 | €1,002,108 | €923,050 | -€79,058 | -7.9% |
| Tangible fixed assets | 22/27 | €980,819 | €911,761 | -€69,058 | -7.0% |
| Land and buildings | 22 | €75,577 | €80,214 | +€4,637 | +6.1% |
| Plant, machinery and equipment | 23 | €286,294 | €269,019 | -€17,275 | -6.0% |
| Furniture and vehicles | 24 | €37,815 | €20,960 | -€16,856 | -44.6% |
| Leasing and similar rights | 25 | €386,962 | €362,902 | -€24,060 | -6.2% |
| Other tangible fixed assets | 26 | €194,171 | €178,666 | -€15,505 | -8.0% |
| Financial fixed assets | 28 | €21,289 | €11,289 | -€10,000 | -47.0% |
| Current assets | 29/58 | €1,275,865 | €1,310,827 | +€34,962 | +2.7% |
| Amounts receivable after more than one year | 29 | €168,329 | €128,426 | -€39,902 | -23.7% |
| Other amounts receivable | 291 | €168,329 | €128,426 | -€39,902 | -23.7% |
| Stocks and contracts in progress | 3 | €537,763 | €579,790 | +€42,027 | +7.8% |
| Stocks | 30/36 | €537,763 | €579,790 | +€42,027 | +7.8% |
| Amounts receivable within one year | 40/41 | €328,035 | €392,951 | +€64,916 | +19.8% |
| Trade receivables | 40 | €120,310 | €88,110 | -€32,200 | -26.8% |
| Other amounts receivable | 41 | €207,725 | €304,841 | +€97,116 | +46.8% |
| Current investments | 50/53 | €1,200 | €1,200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €134,501 | €123,303 | -€11,198 | -8.3% |
| Deferred charges and accrued income | 490/1 | €106,037 | €85,157 | -€20,881 | -19.7% |
| Total equity and liabilities | 10/49 | €2,277,974 | €2,233,877 | -€44,097 | -1.9% |
| Equity | 10/15 | €508,506 | €417,092 | -€91,414 | -18.0% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €388,046 | €296,632 | -€91,414 | -23.6% |
| Amounts payable | 17/49 | €1,769,467 | €1,816,785 | +€47,317 | +2.7% |
| Amounts payable after more than one year | 17 | €508,454 | €443,258 | -€65,196 | -12.8% |
| Financial debts | 170/4 | €458,454 | €393,258 | -€65,196 | -14.2% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,261,013 | €1,371,017 | +€110,004 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €44,316 | €65,196 | +€20,881 | +47.1% |
| Trade debts | 44 | €30,317 | €26,934 | -€3,382 | -11.2% |
| Suppliers | 440/4 | €30,317 | €26,934 | -€3,382 | -11.2% |
| Taxes, remuneration and social security | 45 | €87,987 | €77,127 | -€10,860 | -12.3% |
| Taxes | 450/3 | €60,673 | €56,102 | -€4,571 | -7.5% |
| Remuneration and social security | 454/9 | €27,314 | €21,025 | -€6,289 | -23.0% |
| Other amounts payable | 47/48 | €1,098,393 | €1,201,759 | +€103,366 | +9.4% |
| Accrued charges and deferred income | 492/3 | - | €2,510 | +€2,510 | |
| Remuneration, social security and pensions | 62 | €78,087 | €80,601 | +€2,513 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,078 | €146,305 | +€6,227 | +4.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €65 | +€65 | |
| Other operating charges | 640/8 | €16,006 | €4,757 | -€11,249 | -70.3% |
| Gross operating margin | 9900 | €323,888 | €153,773 | -€170,115 | -52.5% |
| Operating profit (loss) | 9901 | €89,717 | -€77,955 | -€167,672 | |
| Financial income | 75/76B | €9,800 | €8,442 | -€1,358 | -13.9% |
| Recurring financial income | 75 | €9,800 | €8,442 | -€1,358 | -13.9% |
| Financial charges | 65/66B | €22,809 | €21,901 | -€908 | -4.0% |
| Recurring financial charges | 65 | €22,809 | €21,901 | -€908 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €76,708 | -€91,414 | -€168,122 | |
| Income taxes | 67/77 | €14,389 | - | -€14,389 | |
| Profit (loss) for the period | 9904 | €62,318 | -€91,414 | -€153,732 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,318 | -€91,414 | -€153,732 |
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 25 October 2026 via checked.be.