LE CORDIA: 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.
LE CORDIA
Largest movements
- Tangible fixed assets -€21,734
down €21,734 (-2.5%), from €855,925 to €834,190
of which Land and buildings: -€20,264
- Debts after one year -€32,438
down €32,438 (-12.7%), from €255,789 to €223,351
of which Financial debts: -€22,438
- Revaluation surpluses -€13,700
down €13,700 (-2.2%), from €630,200 to €616,500
- Reserves +€13,700
up €13,700 (+25.0%), from €54,800 to €68,500
- Gross operating margin -€17,884
down €17,884 (-32.2%), from €55,533 to €37,649
- Other operating charges +€1,112
up €1,112 (+17.9%), from €6,215 to €7,327
- Financial charges -€990
down €990 (-18.4%), from €5,386 to €4,395
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 | €880,245 | €857,252 | -€22,993 | -2.6% |
| Fixed assets | 21/28 | €856,225 | €834,490 | -€21,734 | -2.5% |
| Tangible fixed assets | 22/27 | €855,925 | €834,190 | -€21,734 | -2.5% |
| Land and buildings | 22 | €850,228 | €829,964 | -€20,264 | -2.4% |
| Plant, machinery and equipment | 23 | €5,696 | €4,226 | -€1,470 | -25.8% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €24,020 | €22,761 | -€1,259 | -5.2% |
| Stocks and contracts in progress | 3 | €300 | €43 | -€257 | -85.8% |
| Stocks | 30/36 | €300 | €43 | -€257 | -85.8% |
| Amounts receivable within one year | 40/41 | €2,549 | €2,459 | -€90 | -3.5% |
| Trade receivables | 40 | €0 | €1,128 | +€1,128 | |
| Other amounts receivable | 41 | €2,549 | €1,331 | -€1,218 | -47.8% |
| Cash at bank and in hand | 54/58 | €18,865 | €15,736 | -€3,129 | -16.6% |
| Deferred charges and accrued income | 490/1 | €2,307 | €4,524 | +€2,217 | +96.1% |
| Total equity and liabilities | 10/49 | €880,245 | €857,252 | -€22,993 | -2.6% |
| Equity | 10/15 | €599,770 | €603,628 | +€3,858 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €630,200 | €616,500 | -€13,700 | -2.2% |
| Reserves | 13 | €54,800 | €68,500 | +€13,700 | +25.0% |
| Distributable reserves | 133 | €54,800 | €68,500 | +€13,700 | +25.0% |
| Profit (loss) carried forward | 14 | -€103,830 | -€99,972 | +€3,858 | +3.7% |
| Amounts payable | 17/49 | €280,475 | €253,623 | -€26,851 | -9.6% |
| Amounts payable after more than one year | 17 | €255,789 | €223,351 | -€32,438 | -12.7% |
| Financial debts | 170/4 | €63,789 | €41,351 | -€22,438 | -35.2% |
| Other amounts payable | 178/9 | €192,000 | €182,000 | -€10,000 | -5.2% |
| Amounts payable within one year | 42/48 | €24,686 | €30,266 | +€5,580 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €21,611 | €22,438 | +€827 | +3.8% |
| Trade debts | 44 | €711 | €3,615 | +€2,904 | +409% |
| Suppliers | 440/4 | €711 | €3,615 | +€2,904 | +409% |
| Taxes, remuneration and social security | 45 | €1,482 | €3,085 | +€1,604 | +108% |
| Taxes | 450/3 | €1,482 | €3,085 | +€1,604 | +108% |
| Other amounts payable | 47/48 | €883 | €1,128 | +€245 | +27.8% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,617 | €21,734 | +€117 | +0.5% |
| Other operating charges | 640/8 | €6,215 | €7,327 | +€1,112 | +17.9% |
| Gross operating margin | 9900 | €55,533 | €37,649 | -€17,884 | -32.2% |
| Operating profit (loss) | 9901 | €27,700 | €8,588 | -€19,113 | -69.0% |
| Financial income | 75/76B | €13 | €28 | +€15 | +120% |
| Recurring financial income | 75 | €13 | €28 | +€15 | +120% |
| Financial charges | 65/66B | €5,386 | €4,395 | -€990 | -18.4% |
| Recurring financial charges | 65 | €5,386 | €4,395 | -€990 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €22,327 | €4,220 | -€18,107 | -81.1% |
| Income taxes | 67/77 | €369 | €362 | -€6 | -1.7% |
| Profit (loss) for the period | 9904 | €21,959 | €3,858 | -€18,101 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,959 | €3,858 | -€18,101 | -82.4% |
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 24 October 2026 via checked.be.