J. CORNET: 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.
J. CORNET
Largest movements
- Receivables within one year -€44,879
down €44,879 (-27.7%), from €162,052 to €117,173
of which Trade receivables: -€59,923
- Cash +€16,499
up €16,499 (+98.5%), from €16,758 to €33,256
mainly Receivables within one year (+€44,879) and Net result for the year (+€21,192)
- Stocks and contracts +€14,960
up €14,960 (+38.0%), from €39,418 to €54,378
of which Stocks: +€9,239
- Trade debts -€22,629
down €22,629 (-27.8%), from €81,516 to €58,887
- Reserves +€21,190
up €21,190 (+19.8%), from €107,100 to €128,290
- Debts after one year -€11,921
down €11,921 (-18.1%), from €66,003 to €54,081
- Tax, wage and social debts -€4,592
down €4,592 (-50.3%), from €9,122 to €4,530
of which Taxes: -€4,703
- Gross operating margin +€39,519
up €39,519 (+23.4%), from €169,046 to €208,565
- Staff costs +€25,457
up €25,457 (+20.3%), from €125,205 to €150,662
- Taxes +€4,622
up €4,622 (+91.5%), from €5,051 to €9,673
- Financial charges +€2,155
up €2,155 (+20.3%), from €10,621 to €12,776
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €334,637 | €317,250 | -€17,387 | -5.2% |
| Fixed assets | 21/28 | €97,258 | €96,467 | -€791 | -0.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €97,258 | €96,467 | -€791 | -0.8% |
| Land and buildings | 22 | €1,265 | €1,094 | -€171 | -13.5% |
| Plant, machinery and equipment | 23 | €5,171 | €6,433 | +€1,261 | +24.4% |
| Furniture and vehicles | 24 | €1,586 | €9,594 | +€8,007 | +504.8% |
| Leasing and similar rights | 25 | €89,235 | €79,347 | -€9,888 | -11.1% |
| Current assets | 29/58 | €237,379 | €220,783 | -€16,596 | -7.0% |
| Stocks and contracts in progress | 3 | €39,418 | €54,378 | +€14,960 | +38.0% |
| Stocks | 30/36 | €22,196 | €31,435 | +€9,239 | +41.6% |
| Contracts in progress | 37 | €17,222 | €22,943 | +€5,720 | +33.2% |
| Amounts receivable within one year | 40/41 | €162,052 | €117,173 | -€44,879 | -27.7% |
| Trade receivables | 40 | €135,672 | €75,749 | -€59,923 | -44.2% |
| Other amounts receivable | 41 | €26,380 | €41,424 | +€15,044 | +57.0% |
| Cash at bank and in hand | 54/58 | €16,758 | €33,256 | +€16,499 | +98.5% |
| Deferred charges and accrued income | 490/1 | €19,151 | €15,975 | -€3,176 | -16.6% |
| Total equity and liabilities | 10/49 | €334,637 | €317,250 | -€17,387 | -5.2% |
| Equity | 10/15 | €131,120 | €152,312 | +€21,192 | +16.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €107,100 | €128,290 | +€21,190 | +19.8% |
| Distributable reserves | 133 | €107,100 | €128,290 | +€21,190 | +19.8% |
| Profit (loss) carried forward | 14 | €5,020 | €5,022 | +€2 | 0.0% |
| Amounts payable | 17/49 | €203,517 | €164,937 | -€38,579 | -19.0% |
| Amounts payable after more than one year | 17 | €66,003 | €54,081 | -€11,921 | -18.1% |
| Financial debts | 170/4 | €66,003 | €54,081 | -€11,921 | -18.1% |
| Amounts payable within one year | 42/48 | €136,981 | €110,338 | -€26,643 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €11,342 | €11,921 | +€579 | +5.1% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Credit institutions | 430/8 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €81,516 | €58,887 | -€22,629 | -27.8% |
| Suppliers | 440/4 | €81,516 | €58,887 | -€22,629 | -27.8% |
| Taxes, remuneration and social security | 45 | €9,122 | €4,530 | -€4,592 | -50.3% |
| Taxes | 450/3 | €6,795 | €2,092 | -€4,703 | -69.2% |
| Remuneration and social security | 454/9 | €2,327 | €2,438 | +€111 | +4.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €533 | €518 | -€15 | -2.8% |
| Non-recurring operating income | 76A | €9,620 | - | -€9,620 | |
| Remuneration, social security and pensions | 62 | €125,205 | €150,662 | +€25,457 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,596 | €15,075 | +€1,479 | +10.9% |
| Other operating charges | 640/8 | €2,699 | €1,530 | -€1,169 | -43.3% |
| Gross operating margin | 9900 | €169,046 | €208,565 | +€39,519 | +23.4% |
| Operating profit (loss) | 9901 | €27,546 | €41,298 | +€13,752 | +49.9% |
| Financial income | 75/76B | €411 | €2,343 | +€1,932 | +470.3% |
| Recurring financial income | 75 | €411 | €2,343 | +€1,932 | +470.3% |
| Financial charges | 65/66B | €10,621 | €12,776 | +€2,155 | +20.3% |
| Recurring financial charges | 65 | €10,621 | €12,776 | +€2,155 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €17,336 | €30,865 | +€13,529 | +78.0% |
| Income taxes | 67/77 | €5,051 | €9,673 | +€4,622 | +91.5% |
| Profit (loss) for the period | 9904 | €12,285 | €21,192 | +€8,907 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,285 | €21,192 | +€8,907 | +72.5% |
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 2 October 2026 via checked.be.