NewCort: 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.
What changed
NewCort
NACE 68.122, Development of non-residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€37,032
2024 · €350,220-€387,251
Equity
€4.0m
2024 · €4.0m-€37,032
Cash
€4.2m
2024 · €4.3m-€133,719
Balance sheet total
€16.7m
2024 · €17.1m-€436,692
Largest movements
Assets
- Tangible fixed assets -€434,880
down €434,880 (-3.7%), from €11.6m to €11.2m
of which Land and buildings: -€434,880
- Receivables within one year +€204,245
up €204,245 (+22.4%), from €912,931 to €1.1m
of which Other amounts receivable: +€233,947
Equity and liabilities
- Other debts -€350,220
down €350,220 (-100.0%), from €350,220 to €0
Income statement
- Financial charges +€277,083
up €277,083 (+162.0%), from €171,010 to €448,092
- Taxes -€100,032
down €100,032 (-100.0%), from €100,032 to €0
- Turnover -€78,790
down €78,790 (-6.4%), from €1.2m to €1.2m
- Services and other goods +€48,729
up €48,729 (+25.1%), from €194,360 to €243,089
- Financial income -€47,876
down €47,876 (-54.4%), from €88,014 to €40,139
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.
Result 2024
€350,220
Turnover
-€78,790
Other operating income
+€2,944
Services and other goods
-€48,729
Depreciation
+€6,151
Other operating charges
-€43,900
Financial income
-€47,876
Financial charges
-€277,083
Taxes
+€100,032
Result 2025
-€37,032
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.
From operations
-€53,068
Investment
-€21,906
Financing
-€58,745
Cash 2024
€4.3m
From operations (derived)
-€53,068
Net result for the year
-€37,032
Depreciation
+€456,787
Receivables within one year
-€204,245
Deferred charges and accrued income
+€72,337
Trade debts
+€141,981
Tax, wage and social debts
+€23,674
Other debts
-€350,220
Accrued charges and deferred income
-€156,351
Investment (derived)
-€21,906
Investment in fixed assets (net)
-€21,906
Financing
-€58,745
Debts after one year
-€58,745
Cash 2025
€4.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,141,028 | €16,704,337 | -€436,692 | -2.5% |
| Fixed assets | 21/28 | €11,613,113 | €11,178,232 | -€434,880 | -3.7% |
| Tangible fixed assets | 22/27 | €11,612,913 | €11,178,032 | -€434,880 | -3.7% |
| Land and buildings | 22 | €11,612,913 | €11,178,032 | -€434,880 | -3.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Other financial fixed assets | 284/8 | €200 | €200 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €5,527,916 | €5,526,105 | -€1,811 | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €912,931 | €1,117,176 | +€204,245 | +22.4% |
| Trade receivables | 40 | €186,372 | €156,670 | -€29,702 | -15.9% |
| Other amounts receivable | 41 | €726,559 | €960,507 | +€233,947 | +32.2% |
| Cash at bank and in hand | 54/58 | €4,347,053 | €4,213,334 | -€133,719 | -3.1% |
| Deferred charges and accrued income | 490/1 | €267,931 | €195,594 | -€72,337 | -27.0% |
| Total equity and liabilities | 10/49 | €17,141,028 | €16,704,337 | -€436,692 | -2.5% |
| Equity | 10/15 | €4,024,442 | €3,987,411 | -€37,032 | -0.9% |
| Contributions | 10/11 | €813,089 | €813,089 | = | 0.0% |
| Capital | 10 | €813,089 | €813,089 | = | 0.0% |
| Issued capital | 100 | €813,089 | €813,089 | = | 0.0% |
| Revaluation surpluses | 12 | €3,030,045 | €3,030,045 | = | 0.0% |
| Reserves | 13 | €181,309 | €181,309 | = | 0.0% |
| Non-distributable reserves | 130/1 | €181,309 | €181,309 | = | 0.0% |
| Legal reserve | 130 | €181,309 | €181,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€37,032 | -€37,032 | |
| Amounts payable | 17/49 | €13,116,586 | €12,716,926 | -€399,660 | -3.0% |
| Amounts payable after more than one year | 17 | €12,211,251 | €12,152,506 | -€58,745 | -0.5% |
| Financial debts | 170/4 | €12,100,000 | €12,100,000 | = | 0.0% |
| Credit institutions | 173 | €12,100,000 | €12,100,000 | = | 0.0% |
| Other amounts payable | 178/9 | €111,251 | €52,506 | -€58,745 | -52.8% |
| Amounts payable within one year | 42/48 | €409,519 | €224,955 | -€184,564 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €53,823 | €195,804 | +€141,981 | +263.8% |
| Suppliers | 440/4 | €53,823 | €195,804 | +€141,981 | +263.8% |
| Taxes, remuneration and social security | 45 | €5,476 | €29,151 | +€23,674 | +432.3% |
| Taxes | 450/3 | €5,476 | €29,151 | +€23,674 | +432.3% |
| Other amounts payable | 47/48 | €350,220 | €0 | -€350,220 | -100.0% |
| Accrued charges and deferred income | 492/3 | €495,816 | €339,465 | -€156,351 | -31.5% |
| Operating income | 70/76A | €1,584,926 | €1,509,080 | -€75,846 | -4.8% |
| Turnover | 70 | €1,235,729 | €1,156,940 | -€78,790 | -6.4% |
| Other operating income | 74 | €349,196 | €352,140 | +€2,944 | +0.8% |
| Operating charges | 60/66A | €1,051,679 | €1,138,158 | +€86,478 | +8.2% |
| Services and other goods | 61 | €194,360 | €243,089 | +€48,729 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €462,937 | €456,787 | -€6,151 | -1.3% |
| Other operating charges | 640/8 | €394,382 | €438,282 | +€43,900 | +11.1% |
| Operating profit (loss) | 9901 | €533,246 | €370,922 | -€162,324 | -30.4% |
| Financial income | 75/76B | €88,014 | €40,139 | -€47,876 | -54.4% |
| Recurring financial income | 75 | €88,014 | €40,139 | -€47,876 | -54.4% |
| Income from current assets | 751 | €88,014 | €40,139 | -€47,876 | -54.4% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €171,010 | €448,092 | +€277,083 | +162.0% |
| Recurring financial charges | 65 | €171,010 | €448,092 | +€277,083 | +162.0% |
| Debt charges | 650 | €170,076 | €447,784 | +€277,708 | +163.3% |
| Other financial charges | 652/9 | €933 | €308 | -€625 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | €450,251 | -€37,032 | -€487,283 | |
| Income taxes | 67/77 | €100,032 | €0 | -€100,032 | -100.0% |
| Taxes | 670/3 | €100,032 | €0 | -€100,032 | -100.0% |
| Profit (loss) for the period | 9904 | €350,220 | -€37,032 | -€387,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €350,220 | -€37,032 | -€387,251 |
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 1 October 2026 via checked.be.