Frans Cornelis: 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.
Frans Cornelis
Largest movements
- Cash +€397,098
up €397,098 (+592%), from €67,133 to €464,230
mainly Current investments (+€340,605) and Receivables after one year (+€147,000)
- Current investments -€340,605
down €340,605 (-100%), from €340,605 to €0
- Receivables after one year -€147,000
down €147,000 (-40.8%), from €360,000 to €213,000
of which Other amounts receivable: -€147,000
- Tangible fixed assets -€12,277
down €12,277 (-23.2%), from €52,817 to €40,540
of which Furniture and vehicles: -€10,693
- Reserves -€117,001
down €117,001 (-14.4%), from €810,055 to €693,054
- Tax, wage and social debts +€9,468
up €9,468 (+54.1%), from €17,485 to €26,953
- Gross operating margin -€24,904
down €24,904 (-14.9%), from €166,916 to €142,011
- Taxes -€7,808
down €7,808 (-14.8%), from €52,898 to €45,090
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €848,305 | €739,974 | -€108,331 | -12.8% |
| Fixed assets | 21/28 | €55,217 | €42,940 | -€12,277 | -22.2% |
| Tangible fixed assets | 22/27 | €52,817 | €40,540 | -€12,277 | -23.2% |
| Plant, machinery and equipment | 23 | €108 | €0 | -€108 | -100% |
| Furniture and vehicles | 24 | €42,149 | €31,456 | -€10,693 | -25.4% |
| Other tangible fixed assets | 26 | €10,559 | €9,083 | -€1,476 | -14.0% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €793,088 | €697,034 | -€96,054 | -12.1% |
| Amounts receivable after more than one year | 29 | €360,000 | €213,000 | -€147,000 | -40.8% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €360,000 | €213,000 | -€147,000 | -40.8% |
| Amounts receivable within one year | 40/41 | €21,882 | €16,252 | -€5,630 | -25.7% |
| Trade receivables | 40 | €6,170 | €3,226 | -€2,944 | -47.7% |
| Other amounts receivable | 41 | €15,712 | €13,026 | -€2,686 | -17.1% |
| Current investments | 50/53 | €340,605 | €0 | -€340,605 | -100% |
| Cash at bank and in hand | 54/58 | €67,133 | €464,230 | +€397,098 | +592% |
| Deferred charges and accrued income | 490/1 | €3,468 | €3,552 | +€84 | +2.4% |
| Total equity and liabilities | 10/49 | €848,305 | €739,974 | -€108,331 | -12.8% |
| Equity | 10/15 | €828,895 | €711,894 | -€117,001 | -14.1% |
| Contributions | 10/11 | €18,840 | €18,840 | = | 0.0% |
| Reserves | 13 | €810,055 | €693,054 | -€117,001 | -14.4% |
| Distributable reserves | 133 | €810,055 | €693,054 | -€117,001 | -14.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,410 | €28,080 | +€8,670 | +44.7% |
| Amounts payable within one year | 42/48 | €19,036 | €27,638 | +€8,601 | +45.2% |
| Financial debts | 43 | €1,551 | €0 | -€1,551 | -100% |
| Credit institutions | 430/8 | €1,551 | €0 | -€1,551 | -100% |
| Trade debts | 44 | - | €685 | +€685 | |
| Suppliers | 440/4 | - | €685 | +€685 | |
| Taxes, remuneration and social security | 45 | €17,485 | €26,953 | +€9,468 | +54.1% |
| Taxes | 450/3 | €17,485 | €26,953 | +€9,468 | +54.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €374 | €443 | +€69 | +18.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,732 | €13,770 | +€38 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €339 | +€339 | |
| Other operating charges | 640/8 | €514 | €653 | +€139 | +27.1% |
| Gross operating margin | 9900 | €166,916 | €142,011 | -€24,904 | -14.9% |
| Operating profit (loss) | 9901 | €152,670 | €127,249 | -€25,420 | -16.7% |
| Financial income | 75/76B | €10,161 | €11,024 | +€863 | +8.5% |
| Recurring financial income | 75 | €10,161 | €11,024 | +€863 | +8.5% |
| Financial charges | 65/66B | €172 | €184 | +€12 | +6.7% |
| Recurring financial charges | 65 | €172 | €184 | +€12 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €162,658 | €138,089 | -€24,569 | -15.1% |
| Income taxes | 67/77 | €52,898 | €45,090 | -€7,808 | -14.8% |
| Profit (loss) for the period | 9904 | €109,760 | €92,999 | -€16,761 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,760 | €92,999 | -€16,761 | -15.3% |
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 26 October 2026 via checked.be.