DSP Kortenberg: 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.
DSP Kortenberg
Largest movements
- Stocks and contracts -€636,451
down €636,451 (-51.5%), from €1.2m to €599,699
- Tangible fixed assets -€55,690
down €55,690 (-3.8%), from €1.5m to €1.4m
- Cash +€32,280
up €32,280 (+235%), from €13,730 to €46,010
mainly Stocks and contracts (+€636,451) and Debts after one year (+€370,416)
- Trade debts -€538,537
down €538,537 (-98.0%), from €549,776 to €11,239
- Other debts -€418,170
down €418,170 (-100%), from €418,170 to €0
- Debts after one year +€370,416
up €370,416 (+38.6%), from €960,780 to €1.3m
of which Financial debts: +€366,038
- Short-term financial debts -€280,000
down €280,000 (-100%), from €280,000 to €0
- Reserves +€156,722
up €156,722 (+90.8%), from €172,524 to €329,246
- Financial charges -€29,964
down €29,964 (-27.9%), from €107,255 to €77,291
- Gross operating margin -€27,983
down €27,983 (-7.5%), from €371,991 to €344,007
- Depreciation +€27,154
up €27,154 (+95.2%), from €28,535 to €55,690
- Taxes -€4,329
down €4,329 (-8.5%), from €50,841 to €46,513
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 | €2,767,766 | €2,091,865 | -€675,901 | -24.4% |
| Fixed assets | 21/28 | €1,468,459 | €1,412,769 | -€55,690 | -3.8% |
| Tangible fixed assets | 22/27 | €1,468,459 | €1,412,769 | -€55,690 | -3.8% |
| Land and buildings | 22 | €1,468,459 | €1,412,769 | -€55,690 | -3.8% |
| Current assets | 29/58 | €1,299,307 | €679,096 | -€620,212 | -47.7% |
| Stocks and contracts in progress | 3 | €1,236,150 | €599,699 | -€636,451 | -51.5% |
| Stocks | 30/36 | €1,236,150 | €599,699 | -€636,451 | -51.5% |
| Amounts receivable within one year | 40/41 | €49,427 | €33,356 | -€16,071 | -32.5% |
| Trade receivables | 40 | €35,961 | €33,356 | -€2,606 | -7.2% |
| Other amounts receivable | 41 | €13,465 | €0 | -€13,465 | -100% |
| Cash at bank and in hand | 54/58 | €13,730 | €46,010 | +€32,280 | +235% |
| Deferred charges and accrued income | 490/1 | - | €31 | +€31 | |
| Total equity and liabilities | 10/49 | €2,767,766 | €2,091,865 | -€675,901 | -24.4% |
| Equity | 10/15 | €372,524 | €529,246 | +€156,722 | +42.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €172,524 | €329,246 | +€156,722 | +90.8% |
| Distributable reserves | 133 | €172,524 | €329,246 | +€156,722 | +90.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,395,242 | €1,562,619 | -€832,623 | -34.8% |
| Amounts payable after more than one year | 17 | €960,780 | €1,331,197 | +€370,416 | +38.6% |
| Financial debts | 170/4 | €949,845 | €1,315,884 | +€366,038 | +38.5% |
| Other amounts payable | 178/9 | €10,935 | €15,313 | +€4,378 | +40.0% |
| Amounts payable within one year | 42/48 | €1,348,943 | €116,297 | -€1.2m | -91.4% |
| Current portion of amounts payable after more than one year | 42 | €50,155 | €52,132 | +€1,977 | +3.9% |
| Financial debts | 43 | €280,000 | €0 | -€280,000 | -100% |
| Credit institutions | 430/8 | €280,000 | €0 | -€280,000 | -100% |
| Trade debts | 44 | €549,776 | €11,239 | -€538,537 | -98.0% |
| Suppliers | 440/4 | €549,776 | €11,239 | -€538,537 | -98.0% |
| Taxes, remuneration and social security | 45 | €50,841 | €52,926 | +€2,084 | +4.1% |
| Taxes | 450/3 | €50,841 | €52,926 | +€2,084 | +4.1% |
| Other amounts payable | 47/48 | €418,170 | €0 | -€418,170 | -100% |
| Accrued charges and deferred income | 492/3 | €85,519 | €115,126 | +€29,606 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,535 | €55,690 | +€27,154 | +95.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,355 | €4,121 | -€234 | -5.4% |
| Other operating charges | 640/8 | €417 | €3,814 | +€3,397 | +814% |
| Gross operating margin | 9900 | €371,991 | €344,007 | -€27,983 | -7.5% |
| Operating profit (loss) | 9901 | €338,683 | €280,382 | -€58,300 | -17.2% |
| Financial income | 75/76B | - | €143 | +€143 | |
| Recurring financial income | 75 | - | €143 | +€143 | |
| Financial charges | 65/66B | €107,255 | €77,291 | -€29,964 | -27.9% |
| Recurring financial charges | 65 | €107,255 | €77,291 | -€29,964 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €231,428 | €203,235 | -€28,194 | -12.2% |
| Income taxes | 67/77 | €50,841 | €46,513 | -€4,329 | -8.5% |
| Profit (loss) for the period | 9904 | €180,587 | €156,722 | -€23,865 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €180,587 | €156,722 | -€23,865 | -13.2% |
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 22 October 2026 via checked.be.