J. 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.
J. Cornelis
Largest movements
- Current investments -€283,950
down €283,950 (-99.6%), from €284,950 to €1,000
- Receivables after one year -€49,587
down €49,587 (-33.5%), from €148,095 to €98,508
- Tangible fixed assets -€30,585
down €30,585 (-5.4%), from €570,044 to €539,460
of which Land and buildings: -€27,075
- Cash +€20,269
up €20,269 (+14.1%), from €143,884 to €164,153
mainly Current investments (+€283,950) and Net result for the year (+€63,729)
- Other debts -€400,000
down €400,000 (-97.9%), from €408,752 to €8,752
- Reserves +€63,729
up €63,729 (+7.4%), from €864,297 to €928,026
of which Distributable reserves: +€66,279
- Financial income +€21,804
up €21,804 (+399%), from €5,471 to €27,275
- Depreciation -€7,931
down €7,931 (-20.6%), from €38,515 to €30,585
- Other operating charges -€5,862
down €5,862 (-49.3%), from €11,887 to €6,024
- Taxes +€3,002
up €3,002 (+641%), from €469 to €3,470
- Gross operating margin -€841
down €841 (-1.1%), from €76,124 to €75,283
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 | €1,318,673 | €972,943 | -€345,730 | -26.2% |
| Fixed assets | 21/28 | €570,044 | €539,460 | -€30,585 | -5.4% |
| Tangible fixed assets | 22/27 | €570,044 | €539,460 | -€30,585 | -5.4% |
| Land and buildings | 22 | €539,717 | €512,642 | -€27,075 | -5.0% |
| Plant, machinery and equipment | 23 | €30,327 | €26,817 | -€3,510 | -11.6% |
| Current assets | 29/58 | €748,628 | €433,483 | -€315,145 | -42.1% |
| Amounts receivable after more than one year | 29 | €148,095 | €98,508 | -€49,587 | -33.5% |
| Other amounts receivable | 291 | €148,095 | €98,508 | -€49,587 | -33.5% |
| Amounts receivable within one year | 40/41 | €168,696 | €160,448 | -€8,248 | -4.9% |
| Trade receivables | 40 | €116,236 | €112,606 | -€3,630 | -3.1% |
| Other amounts receivable | 41 | €52,460 | €47,842 | -€4,618 | -8.8% |
| Current investments | 50/53 | €284,950 | €1,000 | -€283,950 | -99.6% |
| Cash at bank and in hand | 54/58 | €143,884 | €164,153 | +€20,269 | +14.1% |
| Deferred charges and accrued income | 490/1 | €3,004 | €9,374 | +€6,370 | +212% |
| Total equity and liabilities | 10/49 | €1,318,673 | €972,943 | -€345,730 | -26.2% |
| Equity | 10/15 | €884,833 | €948,562 | +€63,729 | +7.2% |
| Contributions | 10/11 | €20,537 | €20,537 | = | 0.0% |
| Reserves | 13 | €864,297 | €928,026 | +€63,729 | +7.4% |
| Tax-exempt reserves | 132 | €25,505 | €22,955 | -€2,550 | -10.0% |
| Distributable reserves | 133 | €838,792 | €905,071 | +€66,279 | +7.9% |
| Provisions and deferred taxes | 16 | €13,132 | €11,818 | -€1,314 | -10.0% |
| Deferred taxes | 168 | €13,132 | €11,818 | -€1,314 | -10.0% |
| Amounts payable | 17/49 | €420,707 | €12,562 | -€408,145 | -97.0% |
| Amounts payable within one year | 42/48 | €420,707 | €12,562 | -€408,145 | -97.0% |
| Trade debts | 44 | €7,925 | €306 | -€7,619 | -96.1% |
| Suppliers | 440/4 | €7,925 | €306 | -€7,619 | -96.1% |
| Taxes, remuneration and social security | 45 | €4,031 | €3,504 | -€526 | -13.1% |
| Taxes | 450/3 | €4,031 | €3,504 | -€526 | -13.1% |
| Other amounts payable | 47/48 | €408,752 | €8,752 | -€400,000 | -97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,515 | €30,585 | -€7,931 | -20.6% |
| Other operating charges | 640/8 | €11,887 | €6,024 | -€5,862 | -49.3% |
| Gross operating margin | 9900 | €76,124 | €75,283 | -€841 | -1.1% |
| Operating profit (loss) | 9901 | €25,721 | €38,674 | +€12,952 | +50.4% |
| Financial income | 75/76B | €5,471 | €27,275 | +€21,804 | +399% |
| Recurring financial income | 75 | €5,471 | €27,275 | +€21,804 | +399% |
| Financial charges | 65/66B | €157 | €63 | -€94 | -59.8% |
| Recurring financial charges | 65 | €157 | €63 | -€94 | -59.8% |
| Profit (loss) for the period before taxes | 9903 | €31,035 | €65,886 | +€34,850 | +112% |
| Transfer from deferred taxes | 780 | €1,314 | €1,314 | = | 0.0% |
| Income taxes | 67/77 | €469 | €3,470 | +€3,002 | +641% |
| Profit (loss) for the period | 9904 | €31,880 | €63,729 | +€31,849 | +99.9% |
| Transfer from tax-exempt reserves | 789 | €2,550 | €2,550 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,430 | €66,279 | +€31,849 | +92.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.