ELECTRO CORBEELS: what changed
Two fiscal 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
ELECTRO CORBEELS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€520,994
2024 · €133,824+€387,170
Equity
€2.9m
2024 · €2.6m+€340,994
Cash
€755,799
2024 · €435,947+€319,852
Balance sheet total
€3.6m
2024 · €4.3m-€662,156
Largest movements
Assets
- Current investments -€778,870
down €778,870 (-30.4%), from €2.6m to €1.8m
- Cash +€319,852
up €319,852 (+73.4%), from €435,947 to €755,799
mainly Current investments (+€778,870) and Net result for the year (+€520,994)
- Receivables within one year -€233,623
down €233,623 (-32.6%), from €717,676 to €484,053
of which Trade receivables: -€134,713
Equity and liabilities
- Other debts -€886,263
down €886,263 (-78.6%), from €1.1m to €240,712
- Reserves +€340,994
up €340,994 (+14.1%), from €2.4m to €2.8m
of which Distributable reserves: +€235,744
- Trade debts -€99,214
down €99,214 (-30.0%), from €330,748 to €231,535
Income statement
- Gross operating margin +€255,521
up €255,521 (+20.7%), from €1.2m to €1.5m
- Financial income +€177,805
up €177,805 (+473.8%), from €37,527 to €215,331
- Taxes +€115,597
up €115,597 (+154.5%), from €74,836 to €190,434
- Financial charges -€46,778
down €46,778 (-86.4%), from €54,165 to €7,387
of which Financial charges: -€42,047
- Write-downs +€37,809
new in 2025: €37,809
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
€133,824
Gross operating margin
+€255,521
Staff costs
+€33,944
Depreciation
+€13,268
Write-downs
-€37,809
Other operating charges
-€1,758
Other operating items
+€15,018
Financial income
+€177,805
Financial charges
+€46,778
Taxes
-€115,597
Result 2025
€520,994
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.
From operations
-€186,419
Investment
+€738,449
Financing
-€232,179
Cash 2024
€435,947
From operations (derived)
-€186,419
Net result for the year
+€520,994
Depreciation
+€54,364
Stocks and contracts
-€30,250
Receivables within one year
+€233,623
Deferred charges and accrued income
-€14,178
Trade debts
-€99,214
Tax, wage and social debts
+€34,605
Other debts
-€886,263
Accrued charges and deferred income
-€100
Investment (derived)
+€738,449
Investment in fixed assets (net)
-€40,421
Current investments
+€778,870
Financing
-€232,179
Debts after one year
-€40,543
Current portion of long-term debt
-€11,636
Contributions, distributions and other
-€180,000
Cash 2025
€755,799
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,269,689 | €3,607,533 | -€662,156 | -15.5% |
| Fixed assets | 21/28 | €276,747 | €262,803 | -€13,943 | -5.0% |
| Tangible fixed assets | 22/27 | €218,672 | €209,133 | -€9,538 | -4.4% |
| Plant, machinery and equipment | 23 | €2,192 | €8,685 | +€6,493 | +296.2% |
| Furniture and vehicles | 24 | €167,812 | €176,599 | +€8,788 | +5.2% |
| Leasing and similar rights | 25 | €20,879 | - | -€20,879 | |
| Other tangible fixed assets | 26 | €27,789 | €23,849 | -€3,940 | -14.2% |
| Financial fixed assets | 28 | €58,075 | €53,670 | -€4,405 | -7.6% |
| Current assets | 29/58 | €3,992,942 | €3,344,730 | -€648,213 | -16.2% |
| Stocks and contracts in progress | 3 | €261,809 | €292,060 | +€30,250 | +11.6% |
| Stocks | 30/36 | €71,702 | €93,156 | +€21,454 | +29.9% |
| Contracts in progress | 37 | €190,108 | €198,904 | +€8,796 | +4.6% |
| Amounts receivable within one year | 40/41 | €717,676 | €484,053 | -€233,623 | -32.6% |
| Trade receivables | 40 | €546,368 | €411,655 | -€134,713 | -24.7% |
| Other amounts receivable | 41 | €171,308 | €72,399 | -€98,909 | -57.7% |
| Current investments | 50/53 | €2,563,323 | €1,784,453 | -€778,870 | -30.4% |
| Cash at bank and in hand | 54/58 | €435,947 | €755,799 | +€319,852 | +73.4% |
| Deferred charges and accrued income | 490/1 | €14,187 | €28,365 | +€14,178 | +99.9% |
| Total equity and liabilities | 10/49 | €4,269,689 | €3,607,533 | -€662,156 | -15.5% |
| Equity | 10/15 | €2,570,923 | €2,911,917 | +€340,994 | +13.3% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €2,422,187 | €2,763,181 | +€340,994 | +14.1% |
| Non-distributable reserves | 130/1 | €104,874 | €104,874 | = | 0.0% |
| Legal reserve | 130 | €104,874 | €104,874 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €2,317,313 | €2,553,057 | +€235,744 | +10.2% |
| Amounts payable | 17/49 | €1,698,766 | €695,616 | -€1.0m | -59.1% |
| Amounts payable after more than one year | 17 | €110,007 | €69,464 | -€40,543 | -36.9% |
| Financial debts | 170/4 | €110,007 | €69,464 | -€40,543 | -36.9% |
| Amounts payable within one year | 42/48 | €1,588,316 | €625,809 | -€962,507 | -60.6% |
| Current portion of amounts payable after more than one year | 42 | €45,547 | €33,912 | -€11,636 | -25.5% |
| Trade debts | 44 | €330,748 | €231,535 | -€99,214 | -30.0% |
| Suppliers | 440/4 | €330,748 | €231,535 | -€99,214 | -30.0% |
| Taxes, remuneration and social security | 45 | €85,045 | €119,651 | +€34,605 | +40.7% |
| Taxes | 450/3 | €21,988 | €26,846 | +€4,858 | +22.1% |
| Remuneration and social security | 454/9 | €63,058 | €92,805 | +€29,747 | +47.2% |
| Other amounts payable | 47/48 | €1,126,975 | €240,712 | -€886,263 | -78.6% |
| Accrued charges and deferred income | 492/3 | €442 | €343 | -€100 | -22.5% |
| Non-recurring operating income | 76A | €28,907 | €13,327 | -€15,580 | -53.9% |
| Remuneration, social security and pensions | 62 | €917,853 | €883,909 | -€33,944 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,632 | €54,364 | -€13,268 | -19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €37,809 | +€37,809 | |
| Other operating charges | 640/8 | €7,416 | €9,174 | +€1,758 | +23.7% |
| Non-recurring operating charges | 66A | €15,018 | - | -€15,018 | |
| Gross operating margin | 9900 | €1,233,218 | €1,488,740 | +€255,521 | +20.7% |
| Operating profit (loss) | 9901 | €225,299 | €503,483 | +€278,184 | +123.5% |
| Financial income | 75/76B | €37,527 | €215,331 | +€177,805 | +473.8% |
| Recurring financial income | 75 | €37,527 | €215,331 | +€177,805 | +473.8% |
| Financial charges | 65/66B | €54,165 | €7,387 | -€46,778 | -86.4% |
| Recurring financial charges | 65 | €49,434 | €7,387 | -€42,047 | -85.1% |
| Non-recurring financial charges | 66B | €4,731 | - | -€4,731 | |
| Profit (loss) for the period before taxes | 9903 | €208,661 | €711,428 | +€502,767 | +240.9% |
| Income taxes | 67/77 | €74,836 | €190,434 | +€115,597 | +154.5% |
| Profit (loss) for the period | 9904 | €133,824 | €520,994 | +€387,170 | +289.3% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €133,824 | €415,744 | +€281,920 | +210.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.