DIDIER CORTHOUTS: what changed
DIDIER CORTHOUTS
Largest movements
- Cash +€202,817
up €202,817 (+236%), from €86,052 to €288,869
mainly Net result for the year (+€143,819) and Other debts (+€54,573)
- Receivables after one year +€24,333
new in 2025: €24,333
- Receivables within one year -€20,235
no longer reported in 2025 (was €20,235)
of which Trade receivables: -€13,053
- Reserves +€106,958
up €106,958 (+50.6%), from €211,540 to €318,498
of which Distributable reserves: +€106,958
- Other debts +€54,573
up €54,573 (+11.1%), from €492,106 to €546,679
- Accrued charges and deferred income +€50,801
up €50,801 (+91.3%), from €55,645 to €106,446
- Trade debts +€13,392
up €13,392 (+374%), from €3,578 to €16,970
- Financial income +€114,664
up €114,664 (+910%), from €12,596 to €127,260
- Taxes +€8,774
up €8,774 (+50.5%), from €17,373 to €26,147
- Gross operating margin +€4,856
up €4,856 (+6.2%), from €78,766 to €83,623
- Financial charges +€1,870
up €1,870 (+5.7%), from €32,533 to €34,403
- Depreciation -€1,475
down €1,475 (-19.0%), from €7,772 to €6,297
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,061,725 | €1,274,386 | +€212,661 | +20.0% |
| Fixed assets | 21/28 | €238,371 | €232,718 | -€5,653 | -2.4% |
| Tangible fixed assets | 22/27 | €238,371 | €232,718 | -€5,653 | -2.4% |
| Land and buildings | 22 | €235,169 | €230,043 | -€5,126 | -2.2% |
| Furniture and vehicles | 24 | €3,203 | €2,675 | -€527 | -16.5% |
| Current assets | 29/58 | €823,353 | €1,041,668 | +€218,314 | +26.5% |
| Amounts receivable after more than one year | 29 | - | €24,333 | +€24,333 | |
| Trade receivables | 290 | - | €24,333 | +€24,333 | |
| Amounts receivable within one year | 40/41 | €20,235 | - | -€20,235 | |
| Trade receivables | 40 | €13,053 | - | -€13,053 | |
| Other amounts receivable | 41 | €7,182 | - | -€7,182 | |
| Current investments | 50/53 | €710,855 | €719,873 | +€9,019 | +1.3% |
| Cash at bank and in hand | 54/58 | €86,052 | €288,869 | +€202,817 | +236% |
| Deferred charges and accrued income | 490/1 | €6,212 | €8,592 | +€2,381 | +38.3% |
| Total equity and liabilities | 10/49 | €1,061,725 | €1,274,386 | +€212,661 | +20.0% |
| Equity | 10/15 | €491,560 | €598,518 | +€106,958 | +21.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €211,540 | €318,498 | +€106,958 | +50.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €209,680 | €316,638 | +€106,958 | +51.0% |
| Profit (loss) carried forward | 14 | €267,620 | €267,620 | = | 0.0% |
| Amounts payable | 17/49 | €570,165 | €675,868 | +€105,704 | +18.5% |
| Amounts payable within one year | 42/48 | €514,520 | €569,422 | +€54,903 | +10.7% |
| Trade debts | 44 | €3,578 | €16,970 | +€13,392 | +374% |
| Suppliers | 440/4 | €3,578 | €16,970 | +€13,392 | +374% |
| Advances received on contracts in progress | 46 | €15,520 | €3,000 | -€12,520 | -80.7% |
| Taxes, remuneration and social security | 45 | €3,316 | €2,773 | -€543 | -16.4% |
| Taxes | 450/3 | €3,316 | €2,773 | -€543 | -16.4% |
| Other amounts payable | 47/48 | €492,106 | €546,679 | +€54,573 | +11.1% |
| Accrued charges and deferred income | 492/3 | €55,645 | €106,446 | +€50,801 | +91.3% |
| Non-recurring operating income | 76A | - | €44 | +€44 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,772 | €6,297 | -€1,475 | -19.0% |
| Other operating charges | 640/8 | - | €217 | +€217 | |
| Gross operating margin | 9900 | €78,766 | €83,623 | +€4,856 | +6.2% |
| Operating profit (loss) | 9901 | €70,994 | €77,109 | +€6,114 | +8.6% |
| Financial income | 75/76B | €12,596 | €127,260 | +€114,664 | +910% |
| Recurring financial income | 75 | €12,596 | €127,260 | +€114,664 | +910% |
| Financial charges | 65/66B | €32,533 | €34,403 | +€1,870 | +5.7% |
| Recurring financial charges | 65 | €32,533 | €34,403 | +€1,870 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €51,057 | €169,966 | +€118,909 | +233% |
| Income taxes | 67/77 | €17,373 | €26,147 | +€8,774 | +50.5% |
| Profit (loss) for the period | 9904 | €33,684 | €143,819 | +€110,135 | +327% |
| Profit (loss) for the period to be appropriated | 9905 | €33,684 | €143,819 | +€110,135 | +327% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.