MICHEL 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.
MICHEL CORNELIS
Largest movements
- Cash -€223,726
down €223,726 (-39.1%), from €571,928 to €348,202
mainly Receivables within one year (-€146,122) and Net result for the year (-€38,755)
- Receivables within one year +€146,122
up €146,122 (+12.0%), from €1.2m to €1.4m
of which Other amounts receivable: +€109,822
- Profit (loss) carried forward -€38,755
down €38,755 (-4.2%), from €914,315 to €875,560
- Other debts -€35,859
down €35,859 (-16.0%), from €223,655 to €187,796
- Gross operating margin -€139,347
down €139,347, from €104,607 to -€34,740
- Financial charges -€6,680
down €6,680 (-93.7%), from €7,126 to €446
- Financial income +€1,343
up €1,343 (+2,276%), from €59 to €1,402
- Other operating charges -€1,223
down €1,223 (-26.1%), from €4,679 to €3,456
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,821,031 | €1,739,740 | -€81,291 | -4.5% |
| Fixed assets | 21/28 | €6,058 | €4,544 | -€1,514 | -25.0% |
| Tangible fixed assets | 22/27 | €6,058 | €4,544 | -€1,514 | -25.0% |
| Furniture and vehicles | 24 | €6,058 | €4,544 | -€1,514 | -25.0% |
| Current assets | 29/58 | €1,814,973 | €1,735,196 | -€79,777 | -4.4% |
| Amounts receivable within one year | 40/41 | €1,222,657 | €1,368,779 | +€146,122 | +12.0% |
| Trade receivables | 40 | €317,125 | €353,425 | +€36,300 | +11.4% |
| Other amounts receivable | 41 | €905,532 | €1,015,354 | +€109,822 | +12.1% |
| Cash at bank and in hand | 54/58 | €571,928 | €348,202 | -€223,726 | -39.1% |
| Deferred charges and accrued income | 490/1 | €20,388 | €18,215 | -€2,173 | -10.7% |
| Total equity and liabilities | 10/49 | €1,821,031 | €1,739,740 | -€81,291 | -4.5% |
| Equity | 10/15 | €1,500,602 | €1,461,847 | -€38,755 | -2.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €566,287 | €566,287 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €564,287 | €564,287 | = | 0.0% |
| Profit (loss) carried forward | 14 | €914,315 | €875,560 | -€38,755 | -4.2% |
| Amounts payable | 17/49 | €320,429 | €277,893 | -€42,536 | -13.3% |
| Amounts payable within one year | 42/48 | €320,429 | €277,893 | -€42,536 | -13.3% |
| Advances received on contracts in progress | 46 | €87,131 | €79,001 | -€8,130 | -9.3% |
| Taxes, remuneration and social security | 45 | €9,643 | €11,096 | +€1,453 | +15.1% |
| Taxes | 450/3 | €9,643 | €1,453 | -€8,190 | -84.9% |
| Remuneration and social security | 454/9 | - | €9,643 | +€9,643 | |
| Other amounts payable | 47/48 | €223,655 | €187,796 | -€35,859 | -16.0% |
| Non-recurring operating income | 76A | €135,005 | - | -€135,005 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,515 | €1,515 | = | 0.0% |
| Other operating charges | 640/8 | €4,679 | €3,456 | -€1,223 | -26.1% |
| Gross operating margin | 9900 | €104,607 | -€34,740 | -€139,347 | |
| Operating profit (loss) | 9901 | €98,413 | -€39,711 | -€138,124 | |
| Financial income | 75/76B | €59 | €1,402 | +€1,343 | +2,276% |
| Recurring financial income | 75 | €59 | €1,402 | +€1,343 | +2,276% |
| Financial charges | 65/66B | €7,126 | €446 | -€6,680 | -93.7% |
| Recurring financial charges | 65 | €7,126 | €446 | -€6,680 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €91,346 | -€38,755 | -€130,101 | |
| Profit (loss) for the period | 9904 | €91,346 | -€38,755 | -€130,101 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,346 | -€38,755 | -€130,101 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.