DE KORREL: 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.
DE KORREL
Largest movements
- Receivables within one year -€139,686
down €139,686 (-68.9%), from €202,674 to €62,988
of which Other amounts receivable: -€70,771
- Stocks and contracts -€21,530
down €21,530 (-35.9%), from €59,943 to €38,413
- Tangible fixed assets -€14,624
down €14,624 (-66.5%), from €21,976 to €7,352
of which Furniture and vehicles: -€10,402
- Trade debts -€77,142
down €77,142 (-55.9%), from €138,045 to €60,903
- Profit (loss) carried forward -€51,843
down €51,843 (-565%), from -€9,175 to -€61,018
- Accrued charges and deferred income -€18,295
no longer reported in 2025 (was €18,295)
- Tax, wage and social debts -€13,766
down €13,766 (-30.7%), from €44,800 to €31,034
of which Taxes: -€13,007
- Debts after one year -€7,604
no longer reported in 2025 (was €7,604)
- Gross operating margin +€39,196
up €39,196 (+73.7%), from €53,186 to €92,382
- Financial charges -€3,290
down €3,290 (-68.1%), from €4,831 to €1,541
- Other operating charges +€1,745
up €1,745 (+221%), from €790 to €2,535
- Staff costs -€1,385
down €1,385 (-1.4%), from €98,756 to €97,371
- Depreciation +€1,100
up €1,100 (+22.1%), from €4,979 to €6,080
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €287,544 | €114,066 | -€173,478 | -60.3% |
| Fixed assets | 21/28 | €21,976 | €7,352 | -€14,624 | -66.5% |
| Tangible fixed assets | 22/27 | €21,976 | €7,352 | -€14,624 | -66.5% |
| Plant, machinery and equipment | 23 | €11,574 | €7,352 | -€4,222 | -36.5% |
| Furniture and vehicles | 24 | €10,402 | - | -€10,402 | |
| Current assets | 29/58 | €265,568 | €106,714 | -€158,854 | -59.8% |
| Stocks and contracts in progress | 3 | €59,943 | €38,413 | -€21,530 | -35.9% |
| Stocks | 30/36 | €59,943 | €38,413 | -€21,530 | -35.9% |
| Amounts receivable within one year | 40/41 | €202,674 | €62,988 | -€139,686 | -68.9% |
| Trade receivables | 40 | €69,560 | €646 | -€68,914 | -99.1% |
| Other amounts receivable | 41 | €133,113 | €62,342 | -€70,771 | -53.2% |
| Cash at bank and in hand | 54/58 | €2,952 | €5,313 | +€2,362 | +80.0% |
| Total equity and liabilities | 10/49 | €287,544 | €114,066 | -€173,478 | -60.3% |
| Equity | 10/15 | €73,972 | €22,128 | -€51,843 | -70.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €58,357 | €58,357 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €55,878 | €55,878 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,175 | -€61,018 | -€51,843 | -565% |
| Amounts payable | 17/49 | €213,572 | €91,937 | -€121,635 | -57.0% |
| Amounts payable after more than one year | 17 | €7,604 | - | -€7,604 | |
| Financial debts | 170/4 | €7,604 | - | -€7,604 | |
| Amounts payable within one year | 42/48 | €187,673 | €91,937 | -€95,735 | -51.0% |
| Current portion of amounts payable after more than one year | 42 | €4,827 | - | -€4,827 | |
| Trade debts | 44 | €138,045 | €60,903 | -€77,142 | -55.9% |
| Suppliers | 440/4 | €138,045 | €60,903 | -€77,142 | -55.9% |
| Taxes, remuneration and social security | 45 | €44,800 | €31,034 | -€13,766 | -30.7% |
| Taxes | 450/3 | €23,275 | €10,268 | -€13,007 | -55.9% |
| Remuneration and social security | 454/9 | €21,526 | €20,766 | -€760 | -3.5% |
| Accrued charges and deferred income | 492/3 | €18,295 | - | -€18,295 | |
| Remuneration, social security and pensions | 62 | €98,756 | €97,371 | -€1,385 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,979 | €6,080 | +€1,100 | +22.1% |
| Other operating charges | 640/8 | €790 | €2,535 | +€1,745 | +221% |
| Non-recurring operating charges | 66A | €7,982 | - | -€7,982 | |
| Gross operating margin | 9900 | €53,186 | €92,382 | +€39,196 | +73.7% |
| Operating profit (loss) | 9901 | -€59,322 | -€13,604 | +€45,718 | +77.1% |
| Financial income | 75/76B | €5,236 | €4,987 | -€249 | -4.8% |
| Recurring financial income | 75 | €5,236 | €4,987 | -€249 | -4.8% |
| Financial charges | 65/66B | €4,831 | €1,541 | -€3,290 | -68.1% |
| Recurring financial charges | 65 | €4,831 | €1,541 | -€3,290 | -68.1% |
| Profit (loss) for the period before taxes | 9903 | -€58,917 | -€10,158 | +€48,759 | +82.8% |
| Income taxes | 67/77 | €199 | €191 | -€8 | -4.0% |
| Profit (loss) for the period | 9904 | -€59,115 | -€10,348 | +€48,767 | +82.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,115 | -€10,348 | +€48,767 | +82.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.