CORMAN MATELAS: 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.
CORMAN MATELAS
Largest movements
- Intangible fixed assets -€53,333
down €53,333 (-16.7%), from €320,000 to €266,667
- Cash -€44,297
down €44,297 (-62.2%), from €71,222 to €26,925
mainly Total equity and liabilities (-€93,166) and Stocks and contracts (-€12,810)
- Stocks and contracts +€12,810
up €12,810 (+35.2%), from €36,407 to €49,217
- Deferred charges and accrued income -€6,638
down €6,638 (-64.9%), from €10,226 to €3,588
- Total equity and liabilities -€93,166
down €93,166 (-19.2%), from €484,927 to €391,761
of which Debts: -€96,732
- Gross operating margin -€104,852
down €104,852 (-59.2%), from €177,080 to €72,228
- Financial charges -€31,896
down €31,896 (-96.1%), from €33,178 to €1,283
- Depreciation -€22,949
down €22,949 (-26.0%), from €88,307 to €65,358
- Taxes -€16,255
down €16,255 (-87.3%), from €18,626 to €2,371
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 | €484,927 | €391,761 | -€93,166 | -19.2% |
| Fixed assets | 21/28 | €365,737 | €312,031 | -€53,707 | -14.7% |
| Intangible fixed assets | 21 | €320,000 | €266,667 | -€53,333 | -16.7% |
| Tangible fixed assets | 22/27 | €40,387 | €39,023 | -€1,364 | -3.4% |
| Plant, machinery and equipment | 23 | €2,780 | €1,780 | -€1,000 | -36.0% |
| Furniture and vehicles | 24 | €37,607 | €37,243 | -€364 | -1.0% |
| Financial fixed assets | 28 | €5,350 | €6,341 | +€991 | +18.5% |
| Current assets | 29/58 | €119,189 | €79,730 | -€39,459 | -33.1% |
| Stocks and contracts in progress | 3 | €36,407 | €49,217 | +€12,810 | +35.2% |
| Stocks | 30/36 | €36,407 | €49,217 | +€12,810 | +35.2% |
| Amounts receivable within one year | 40/41 | €1,335 | - | -€1,335 | |
| Trade receivables | 40 | €1,335 | - | -€1,335 | |
| Cash at bank and in hand | 54/58 | €71,222 | €26,925 | -€44,297 | -62.2% |
| Deferred charges and accrued income | 490/1 | €10,226 | €3,588 | -€6,638 | -64.9% |
| Total equity and liabilities | 10/49 | €484,927 | €391,761 | -€93,166 | -19.2% |
| Equity | 10/15 | €56,183 | €56,970 | +€787 | +1.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €36,183 | €36,970 | +€787 | +2.2% |
| Distributable reserves | 133 | €36,183 | €36,970 | +€787 | +2.2% |
| Amounts payable | 17/49 | €431,523 | €334,791 | -€96,732 | -22.4% |
| Amounts payable after more than one year | 17 | €13,967 | €7,649 | -€6,317 | -45.2% |
| Financial debts | 170/4 | €13,967 | €7,649 | -€6,317 | -45.2% |
| Amounts payable within one year | 42/48 | €381,250 | €298,338 | -€82,912 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €6,104 | €6,317 | +€213 | +3.5% |
| Trade debts | 44 | €18,249 | €11,730 | -€6,519 | -35.7% |
| Suppliers | 440/4 | €18,249 | €11,730 | -€6,519 | -35.7% |
| Taxes, remuneration and social security | 45 | €27,661 | €28,266 | +€605 | +2.2% |
| Taxes | 450/3 | €27,661 | €28,266 | +€605 | +2.2% |
| Other amounts payable | 47/48 | €329,235 | €252,024 | -€77,211 | -23.5% |
| Accrued charges and deferred income | 492/3 | €36,306 | €28,804 | -€7,502 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,307 | €65,358 | -€22,949 | -26.0% |
| Other operating charges | 640/8 | €1,899 | €763 | -€1,136 | -59.8% |
| Gross operating margin | 9900 | €177,080 | €72,228 | -€104,852 | -59.2% |
| Operating profit (loss) | 9901 | €86,874 | €6,107 | -€80,767 | -93.0% |
| Financial charges | 65/66B | €33,178 | €1,283 | -€31,896 | -96.1% |
| Recurring financial charges | 65 | €33,178 | €1,283 | -€31,896 | -96.1% |
| Profit (loss) for the period before taxes | 9903 | €53,696 | €4,824 | -€48,872 | -91.0% |
| Income taxes | 67/77 | €18,626 | €2,371 | -€16,255 | -87.3% |
| Profit (loss) for the period | 9904 | €37,849 | €2,453 | -€35,396 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,849 | €2,453 | -€35,396 | -93.5% |
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 4 October 2026 via checked.be.