The Corner Office: 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.
The Corner Office
Largest movements
- Receivables within one year -€449,948
down €449,948 (-92.2%), from €487,984 to €38,036
of which Trade receivables: -€320,154
- Tangible fixed assets -€29,509
down €29,509 (-97.2%), from €30,372 to €863
of which Furniture and vehicles: -€16,026
- Cash +€20,308
up €20,308 (+52.6%), from €38,633 to €58,941
mainly Receivables within one year (+€449,948) and Investment in fixed assets (net) (+€25,120)
- Deferred charges and accrued income -€14,078
down €14,078 (-95.9%), from €14,675 to €597
- Profit (loss) carried forward -€243,502
new in 2025: -€243,502
- Other debts -€122,660
down €122,660 (-77.5%), from €158,264 to €35,604
- Trade debts -€65,320
down €65,320 (-58.8%), from €111,059 to €45,739
- Short-term financial debts -€43,901
down €43,901 (-35.1%), from €125,000 to €81,099
- Gross operating margin -€256,437
down €256,437, from €194,745 to -€61,692
- Other operating charges +€26,572
up €26,572 (+2,308%), from €1,151 to €27,723
- Write-downs -€19,471
new in 2025: -€19,471
- Staff costs +€7,293
up €7,293 (+4.9%), from €149,396 to €156,688
- Depreciation -€6,728
down €6,728 (-43.8%), from €15,360 to €8,631
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 | €576,559 | €99,090 | -€477,469 | -82.8% |
| Fixed assets | 21/28 | €35,268 | €1,517 | -€33,751 | -95.7% |
| Intangible fixed assets | 21 | €4,896 | €654 | -€4,242 | -86.6% |
| Tangible fixed assets | 22/27 | €30,372 | €863 | -€29,509 | -97.2% |
| Plant, machinery and equipment | 23 | - | €651 | +€651 | |
| Furniture and vehicles | 24 | €16,238 | €212 | -€16,026 | -98.7% |
| Other tangible fixed assets | 26 | €14,134 | - | -€14,134 | |
| Current assets | 29/58 | €541,291 | €97,573 | -€443,717 | -82.0% |
| Amounts receivable within one year | 40/41 | €487,984 | €38,036 | -€449,948 | -92.2% |
| Trade receivables | 40 | €340,516 | €20,362 | -€320,154 | -94.0% |
| Other amounts receivable | 41 | €147,467 | €17,674 | -€129,794 | -88.0% |
| Cash at bank and in hand | 54/58 | €38,633 | €58,941 | +€20,308 | +52.6% |
| Deferred charges and accrued income | 490/1 | €14,675 | €597 | -€14,078 | -95.9% |
| Total equity and liabilities | 10/49 | €576,559 | €99,090 | -€477,469 | -82.8% |
| Equity | 10/15 | €159,159 | -€84,343 | -€243,502 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €152,959 | €152,959 | = | 0.0% |
| Distributable reserves | 133 | €152,959 | €152,959 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€243,502 | -€243,502 | |
| Amounts payable | 17/49 | €417,399 | €183,433 | -€233,966 | -56.1% |
| Amounts payable within one year | 42/48 | €417,399 | €183,433 | -€233,966 | -56.1% |
| Financial debts | 43 | €125,000 | €81,099 | -€43,901 | -35.1% |
| Credit institutions | 430/8 | €125,000 | €81,099 | -€43,901 | -35.1% |
| Trade debts | 44 | €111,059 | €45,739 | -€65,320 | -58.8% |
| Suppliers | 440/4 | €111,059 | €45,739 | -€65,320 | -58.8% |
| Taxes, remuneration and social security | 45 | €23,076 | €20,992 | -€2,084 | -9.0% |
| Taxes | 450/3 | €14,867 | €3,527 | -€11,340 | -76.3% |
| Remuneration and social security | 454/9 | €8,209 | €17,465 | +€9,256 | +113% |
| Other amounts payable | 47/48 | €158,264 | €35,604 | -€122,660 | -77.5% |
| Remuneration, social security and pensions | 62 | €149,396 | €156,688 | +€7,293 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,360 | €8,631 | -€6,728 | -43.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€19,471 | -€19,471 | |
| Other operating charges | 640/8 | €1,151 | €27,723 | +€26,572 | +2,308% |
| Non-recurring operating charges | 66A | - | €4,410 | +€4,410 | |
| Gross operating margin | 9900 | €194,745 | -€61,692 | -€256,437 | |
| Operating profit (loss) | 9901 | €28,839 | -€239,673 | -€268,512 | |
| Financial income | 75/76B | €3,117 | €139 | -€2,979 | -95.6% |
| Recurring financial income | 75 | €3,117 | €139 | -€2,979 | -95.6% |
| Financial charges | 65/66B | €9,385 | €3,967 | -€5,418 | -57.7% |
| Recurring financial charges | 65 | €9,385 | €3,967 | -€5,418 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €22,571 | -€243,502 | -€266,073 | |
| Income taxes | 67/77 | €296 | - | -€296 | |
| Profit (loss) for the period | 9904 | €22,275 | -€243,502 | -€265,777 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,275 | -€243,502 | -€265,777 |
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 16 October 2026 via checked.be.