LA MAISON DU CORMORAN: what changed
LA MAISON DU CORMORAN
Largest movements
- Stocks and contracts +€60,315
up €60,315 (+21.2%), from €284,183 to €344,498
- Receivables within one year +€22,594
up €22,594 (+1,189%), from €1,900 to €24,494
of which Trade receivables: +€20,951
- Cash +€14,037
up €14,037 (+98.8%), from €14,213 to €28,250
mainly Net result for the year (+€103,150) and Short-term financial debts (+€43,770)
- Reserves +€100,520
up €100,520 (+252%), from €39,919 to €140,439
- Short-term financial debts +€43,770
new in 2026: €43,770
- Trade debts -€38,650
down €38,650 (-38.6%), from €100,075 to €61,425
- Tax, wage and social debts +€18,351
up €18,351 (+47.4%), from €38,746 to €57,097
of which Taxes: +€19,084
- Other debts -€17,500
down €17,500 (-34.6%), from €50,607 to €33,107
- Gross operating margin +€118,988
up €118,988 (+100%), from €118,862 to €237,851
- Taxes +€53,060
up €53,060 (+535%), from €9,913 to €62,973
- Financial charges +€6,422
up €6,422 (+276%), from €2,329 to €8,752
- Depreciation -€3,210
down €3,210 (-64.6%), from €4,970 to €1,760
- Staff costs -€2,790
down €2,790 (-4.3%), from €64,388 to €61,598
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €304,781 | €401,896 | +€97,115 | +31.9% |
| Fixed assets | 21/28 | €3,506 | €2,996 | -€509 | -14.5% |
| Tangible fixed assets | 22/27 | €3,006 | €2,996 | -€9 | -0.3% |
| Plant, machinery and equipment | 23 | €1,057 | €571 | -€487 | -46.0% |
| Furniture and vehicles | 24 | €1,948 | €2,426 | +€477 | +24.5% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €301,275 | €398,900 | +€97,624 | +32.4% |
| Stocks and contracts in progress | 3 | €284,183 | €344,498 | +€60,315 | +21.2% |
| Stocks | 30/36 | €284,183 | €344,498 | +€60,315 | +21.2% |
| Amounts receivable within one year | 40/41 | €1,900 | €24,494 | +€22,594 | +1,189% |
| Trade receivables | 40 | €1,900 | €22,850 | +€20,951 | +1,103% |
| Other amounts receivable | 41 | - | €1,644 | +€1,644 | |
| Cash at bank and in hand | 54/58 | €14,213 | €28,250 | +€14,037 | +98.8% |
| Deferred charges and accrued income | 490/1 | €980 | €1,658 | +€678 | +69.2% |
| Total equity and liabilities | 10/49 | €304,781 | €401,896 | +€97,115 | +31.9% |
| Equity | 10/15 | €70,195 | €173,345 | +€103,150 | +147% |
| Contributions | 10/11 | €25,000 | €27,480 | +€2,480 | +9.9% |
| Reserves | 13 | €39,919 | €140,439 | +€100,520 | +252% |
| Distributable reserves | 133 | €39,919 | €140,439 | +€100,520 | +252% |
| Profit (loss) carried forward | 14 | €5,276 | €5,426 | +€150 | +2.8% |
| Amounts payable | 17/49 | €234,586 | €228,551 | -€6,035 | -2.6% |
| Amounts payable after more than one year | 17 | €33,152 | €21,114 | -€12,038 | -36.3% |
| Financial debts | 170/4 | €33,152 | €21,114 | -€12,038 | -36.3% |
| Amounts payable within one year | 42/48 | €201,338 | €207,437 | +€6,099 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €11,909 | €12,038 | +€128 | +1.1% |
| Financial debts | 43 | - | €43,770 | +€43,770 | |
| Credit institutions | 430/8 | - | €43,770 | +€43,770 | |
| Trade debts | 44 | €100,075 | €61,425 | -€38,650 | -38.6% |
| Suppliers | 440/4 | €100,075 | €61,425 | -€38,650 | -38.6% |
| Taxes, remuneration and social security | 45 | €38,746 | €57,097 | +€18,351 | +47.4% |
| Taxes | 450/3 | €30,149 | €49,233 | +€19,084 | +63.3% |
| Remuneration and social security | 454/9 | €8,597 | €7,864 | -€733 | -8.5% |
| Other amounts payable | 47/48 | €50,607 | €33,107 | -€17,500 | -34.6% |
| Accrued charges and deferred income | 492/3 | €96 | - | -€96 | |
| Remuneration, social security and pensions | 62 | €64,388 | €61,598 | -€2,790 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,970 | €1,760 | -€3,210 | -64.6% |
| Other operating charges | 640/8 | €915 | €864 | -€51 | -5.5% |
| Gross operating margin | 9900 | €118,862 | €237,851 | +€118,988 | +100% |
| Operating profit (loss) | 9901 | €48,590 | €173,629 | +€125,040 | +257% |
| Financial income | 75/76B | €1,136 | €1,246 | +€110 | +9.6% |
| Recurring financial income | 75 | €1,136 | €1,246 | +€110 | +9.6% |
| Financial charges | 65/66B | €2,329 | €8,752 | +€6,422 | +276% |
| Recurring financial charges | 65 | €2,329 | €8,752 | +€6,422 | +276% |
| Profit (loss) for the period before taxes | 9903 | €47,396 | €166,123 | +€118,727 | +250% |
| Income taxes | 67/77 | €9,913 | €62,973 | +€53,060 | +535% |
| Profit (loss) for the period | 9904 | €37,483 | €103,150 | +€65,667 | +175% |
| Profit (loss) for the period to be appropriated | 9905 | €37,483 | €103,150 | +€65,667 | +175% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.