W.CORNETTE: 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.
W.CORNETTE
Largest movements
- Current investments +€275,000
up €275,000 (+28.9%), from €952,698 to €1.2m
- Reserves +€238,386
up €238,386 (+18.0%), from €1.3m to €1.6m
of which Distributable reserves: +€238,386
- Gross operating margin +€55,333
up €55,333 (+14.5%), from €381,643 to €436,976
- Taxes +€20,798
up €20,798 (+24.1%), from €86,222 to €107,020
- Staff costs +€10,710
up €10,710 (+16.4%), from €65,257 to €75,968
- Depreciation -€9,991
down €9,991 (-22.4%), from €44,647 to €34,655
- Financial charges -€6,056
down €6,056 (-38.9%), from €15,566 to €9,510
of which Non-recurring financial charges: -€6,646
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,478,540 | €1,740,864 | +€262,323 | +17.7% |
| Fixed assets | 21/28 | €78,328 | €44,682 | -€33,646 | -43.0% |
| Intangible fixed assets | 21 | €37,121 | €20,121 | -€17,000 | -45.8% |
| Tangible fixed assets | 22/27 | €41,207 | €24,561 | -€16,646 | -40.4% |
| Land and buildings | 22 | €36,477 | €20,568 | -€15,909 | -43.6% |
| Plant, machinery and equipment | 23 | - | €679 | +€679 | |
| Furniture and vehicles | 24 | €4,730 | €3,314 | -€1,416 | -29.9% |
| Current assets | 29/58 | €1,400,213 | €1,696,182 | +€295,969 | +21.1% |
| Amounts receivable within one year | 40/41 | €30,483 | €33,525 | +€3,042 | +10.0% |
| Trade receivables | 40 | €26,638 | €33,525 | +€6,886 | +25.9% |
| Other amounts receivable | 41 | €3,845 | €0 | -€3,845 | -100.0% |
| Current investments | 50/53 | €952,698 | €1,227,698 | +€275,000 | +28.9% |
| Cash at bank and in hand | 54/58 | €417,031 | €429,377 | +€12,346 | +3.0% |
| Deferred charges and accrued income | 490/1 | - | €5,581 | +€5,581 | |
| Total equity and liabilities | 10/49 | €1,478,540 | €1,740,864 | +€262,323 | +17.7% |
| Equity | 10/15 | €1,383,297 | €1,621,683 | +€238,386 | +17.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,321,297 | €1,559,683 | +€238,386 | +18.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,321,297 | €1,559,683 | +€238,386 | +18.0% |
| Amounts payable | 17/49 | €95,243 | €119,181 | +€23,938 | +25.1% |
| Amounts payable within one year | 42/48 | €95,243 | €119,181 | +€23,938 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €45,666 | €53,904 | +€8,239 | +18.0% |
| Trade debts | 44 | - | €2,247 | +€2,247 | |
| Suppliers | 440/4 | - | €2,247 | +€2,247 | |
| Taxes, remuneration and social security | 45 | €9,822 | €16,831 | +€7,009 | +71.4% |
| Taxes | 450/3 | €3,487 | €8,693 | +€5,206 | +149.3% |
| Remuneration and social security | 454/9 | €6,336 | €8,138 | +€1,803 | +28.5% |
| Other amounts payable | 47/48 | €39,755 | €46,198 | +€6,443 | +16.2% |
| Remuneration, social security and pensions | 62 | €65,257 | €75,968 | +€10,710 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,647 | €34,655 | -€9,991 | -22.4% |
| Other operating charges | 640/8 | €4,128 | €4,134 | +€6 | +0.1% |
| Gross operating margin | 9900 | €381,643 | €436,976 | +€55,333 | +14.5% |
| Operating profit (loss) | 9901 | €267,611 | €322,218 | +€54,608 | +20.4% |
| Financial income | 75/76B | €29,279 | €32,697 | +€3,418 | +11.7% |
| Recurring financial income | 75 | €29,279 | €32,697 | +€3,418 | +11.7% |
| Financial charges | 65/66B | €15,566 | €9,510 | -€6,056 | -38.9% |
| Recurring financial charges | 65 | €8,920 | €9,510 | +€590 | +6.6% |
| Non-recurring financial charges | 66B | €6,646 | €0 | -€6,646 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €281,324 | €345,406 | +€64,082 | +22.8% |
| Income taxes | 67/77 | €86,222 | €107,020 | +€20,798 | +24.1% |
| Profit (loss) for the period | 9904 | €195,102 | €238,386 | +€43,284 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €195,102 | €238,386 | +€43,284 | +22.2% |
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 3 October 2026 via checked.be.