DE KORT: 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 KORT
Largest movements
- Stocks and contracts -€11,816
down €11,816 (-43.9%), from €26,887 to €15,071
of which Stocks: -€12,955
- Receivables within one year +€2,906
up €2,906 (+63.9%), from €4,547 to €7,453
of which Trade receivables: +€1,623
- Cash -€1,586
down €1,586 (-27.9%), from €5,686 to €4,100
mainly Current portion of long-term debt (-€10,820) and Investment in fixed assets (net) (-€7,637)
- Current portion of long-term debt -€10,820
no longer reported in 2026 (was €10,820)
- Accrued charges and deferred income -€7,377
no longer reported in 2026 (was €7,377)
- Reserves +€6,361
up €6,361 (+8.5%), from €74,523 to €80,884
- Trade debts +€2,228
up €2,228 (+20.1%), from €11,092 to €13,320
- Depreciation -€8,424
down €8,424 (-57.3%), from €14,695 to €6,271
- Gross operating margin -€2,591
down €2,591 (-12.2%), from €21,180 to €18,588
- Taxes +€1,925
up €1,925 (+165%), from €1,167 to €3,092
- Financial charges -€559
down €559 (-19.6%), from €2,852 to €2,294
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €141,586 | €131,750 | -€9,837 | -6.9% |
| Fixed assets | 21/28 | €102,109 | €103,474 | +€1,366 | +1.3% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €102,108 | €103,473 | +€1,366 | +1.3% |
| Land and buildings | 22 | €1,475 | €1,036 | -€439 | -29.8% |
| Plant, machinery and equipment | 23 | €8,771 | €1,273 | -€7,497 | -85.5% |
| Furniture and vehicles | 24 | €10,545 | €4,315 | -€6,230 | -59.1% |
| Assets under construction and advance payments | 27 | €81,317 | €96,849 | +€15,532 | +19.1% |
| Current assets | 29/58 | €39,478 | €28,275 | -€11,202 | -28.4% |
| Stocks and contracts in progress | 3 | €26,887 | €15,071 | -€11,816 | -43.9% |
| Stocks | 30/36 | €26,887 | €13,931 | -€12,955 | -48.2% |
| Contracts in progress | 37 | - | €1,140 | +€1,140 | |
| Amounts receivable within one year | 40/41 | €4,547 | €7,453 | +€2,906 | +63.9% |
| Trade receivables | 40 | €2,010 | €3,634 | +€1,623 | +80.7% |
| Other amounts receivable | 41 | €2,536 | €3,820 | +€1,283 | +50.6% |
| Cash at bank and in hand | 54/58 | €5,686 | €4,100 | -€1,586 | -27.9% |
| Deferred charges and accrued income | 490/1 | €2,358 | €1,651 | -€707 | -30.0% |
| Total equity and liabilities | 10/49 | €141,586 | €131,750 | -€9,837 | -6.9% |
| Equity | 10/15 | €80,723 | €87,084 | +€6,361 | +7.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €74,523 | €80,884 | +€6,361 | +8.5% |
| Distributable reserves | 133 | €74,523 | €80,884 | +€6,361 | +8.5% |
| Amounts payable | 17/49 | €60,864 | €44,666 | -€16,198 | -26.6% |
| Amounts payable within one year | 42/48 | €53,487 | €44,666 | -€8,821 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €10,820 | - | -€10,820 | |
| Trade debts | 44 | €11,092 | €13,320 | +€2,228 | +20.1% |
| Suppliers | 440/4 | €11,092 | €13,320 | +€2,228 | +20.1% |
| Taxes, remuneration and social security | 45 | €2,038 | €1,035 | -€1,004 | -49.2% |
| Taxes | 450/3 | €2,038 | €1,035 | -€1,004 | -49.2% |
| Other amounts payable | 47/48 | €29,537 | €30,311 | +€774 | +2.6% |
| Accrued charges and deferred income | 492/3 | €7,377 | - | -€7,377 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,695 | €6,271 | -€8,424 | -57.3% |
| Other operating charges | 640/8 | €556 | €571 | +€14 | +2.6% |
| Gross operating margin | 9900 | €21,180 | €18,588 | -€2,591 | -12.2% |
| Operating profit (loss) | 9901 | €5,928 | €11,747 | +€5,818 | +98.2% |
| Financial income | 75/76B | €23 | €0 | -€23 | -99.8% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -99.8% |
| Financial charges | 65/66B | €2,852 | €2,294 | -€559 | -19.6% |
| Recurring financial charges | 65 | €2,852 | €2,294 | -€559 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €3,099 | €9,453 | +€6,354 | +205% |
| Income taxes | 67/77 | €1,167 | €3,092 | +€1,925 | +165% |
| Profit (loss) for the period | 9904 | €1,932 | €6,361 | +€4,429 | +229% |
| Profit (loss) for the period to be appropriated | 9905 | €1,932 | €6,361 | +€4,429 | +229% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.