L.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.
L.CORNELIS
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€67,285
down €67,285 (-27.7%), from €242,888 to €175,602
mainly Current investments (-€250,000) and Tax, wage and social debts (-€66,115)
- Receivables after one year +€39,552
up €39,552 (+2.3%), from €1.8m to €1.8m
- Receivables within one year +€30,670
up €30,670 (+59.4%), from €51,592 to €82,261
of which Trade receivables: +€25,588
- Reserves +€299,162
up €299,162 (+15.4%), from €1.9m to €2.2m
of which Distributable reserves: +€299,162
- Tax, wage and social debts -€66,115
down €66,115 (-63.3%), from €104,419 to €38,304
of which Taxes: -€76,456
- Gross operating margin -€140,353
down €140,353 (-26.8%), from €524,124 to €383,771
- Taxes -€33,924
down €33,924 (-19.1%), from €177,986 to €144,062
- Other operating charges -€9,109
down €9,109 (-81.0%), from €11,240 to €2,131
- Financial income +€6,701
up €6,701 (+9.5%), from €70,511 to €77,212
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 | €2,085,829 | €2,324,294 | +€238,465 | +11.4% |
| Fixed assets | 21/28 | €35,642 | €20,138 | -€15,504 | -43.5% |
| Tangible fixed assets | 22/27 | €35,642 | €20,138 | -€15,504 | -43.5% |
| Plant, machinery and equipment | 23 | €4,283 | €3,799 | -€484 | -11.3% |
| Furniture and vehicles | 24 | €31,359 | €16,339 | -€15,020 | -47.9% |
| Current assets | 29/58 | €2,050,188 | €2,304,157 | +€253,969 | +12.4% |
| Amounts receivable after more than one year | 29 | €1,754,755 | €1,794,307 | +€39,552 | +2.3% |
| Other amounts receivable | 291 | €1,754,755 | €1,794,307 | +€39,552 | +2.3% |
| Amounts receivable within one year | 40/41 | €51,592 | €82,261 | +€30,670 | +59.4% |
| Trade receivables | 40 | €51,592 | €77,180 | +€25,588 | +49.6% |
| Other amounts receivable | 41 | - | €5,081 | +€5,081 | |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €242,888 | €175,602 | -€67,285 | -27.7% |
| Deferred charges and accrued income | 490/1 | €953 | €1,986 | +€1,033 | +108% |
| Total equity and liabilities | 10/49 | €2,085,829 | €2,324,294 | +€238,465 | +11.4% |
| Equity | 10/15 | €1,966,196 | €2,265,358 | +€299,162 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,947,596 | €2,246,758 | +€299,162 | +15.4% |
| Tax-exempt reserves | 132 | €13,767 | €13,767 | = | 0.0% |
| Distributable reserves | 133 | €1,933,830 | €2,232,991 | +€299,162 | +15.5% |
| Amounts payable | 17/49 | €119,633 | €58,937 | -€60,697 | -50.7% |
| Amounts payable within one year | 42/48 | €119,633 | €58,937 | -€60,697 | -50.7% |
| Trade debts | 44 | €1,022 | €1,061 | +€39 | +3.8% |
| Suppliers | 440/4 | €1,022 | €1,061 | +€39 | +3.8% |
| Taxes, remuneration and social security | 45 | €104,419 | €38,304 | -€66,115 | -63.3% |
| Taxes | 450/3 | €104,419 | €27,962 | -€76,456 | -73.2% |
| Remuneration and social security | 454/9 | - | €10,342 | +€10,342 | |
| Other amounts payable | 47/48 | €14,193 | €19,572 | +€5,380 | +37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,526 | €15,504 | -€22 | -0.1% |
| Other operating charges | 640/8 | €11,240 | €2,131 | -€9,109 | -81.0% |
| Gross operating margin | 9900 | €524,124 | €383,771 | -€140,353 | -26.8% |
| Operating profit (loss) | 9901 | €497,358 | €366,136 | -€131,222 | -26.4% |
| Financial income | 75/76B | €70,511 | €77,212 | +€6,701 | +9.5% |
| Recurring financial income | 75 | €70,511 | €77,212 | +€6,701 | +9.5% |
| Financial charges | 65/66B | €105 | €124 | +€19 | +18.2% |
| Recurring financial charges | 65 | €105 | €124 | +€19 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €567,764 | €443,224 | -€124,540 | -21.9% |
| Income taxes | 67/77 | €177,986 | €144,062 | -€33,924 | -19.1% |
| Profit (loss) for the period | 9904 | €389,778 | €299,162 | -€90,616 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €389,778 | €299,162 | -€90,616 | -23.2% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.