Karel Decorte: 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.
Karel Decorte
Largest movements
- Receivables within one year -€7,715
down €7,715 (-28.8%), from €26,832 to €19,117
of which Trade receivables: -€11,888
- Tangible fixed assets -€5,548
down €5,548 (-16.5%), from €33,689 to €28,141
of which Furniture and vehicles: -€11,002
- Stocks and contracts -€1,875
down €1,875 (-17.3%), from €10,835 to €8,960
of which Contracts in progress: -€1,000
- Cash -€1,671
down €1,671 (-3.8%), from €43,750 to €42,079
mainly Trade debts (-€9,195) and Investment in fixed assets (net) (-€7,304)
- Trade debts -€9,195
down €9,195 (-98.1%), from €9,378 to €182
- Debts after one year -€6,483
down €6,483 (-55.3%), from €11,722 to €5,239
- Reserves +€6,470
up €6,470 (+10.5%), from €61,837 to €68,306
- Other debts -€6,130
down €6,130 (-34.6%), from €17,693 to €11,563
- Gross operating margin -€1,194
down €1,194 (-4.9%), from €24,455 to €23,260
- Taxes -€678
down €678 (-25.6%), from €2,648 to €1,971
- Financial charges -€375
down €375 (-41.5%), from €905 to €529
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 | €117,038 | €100,236 | -€16,803 | -14.4% |
| Fixed assets | 21/28 | €33,885 | €28,287 | -€5,598 | -16.5% |
| Intangible fixed assets | 21 | €196 | €146 | -€50 | -25.5% |
| Tangible fixed assets | 22/27 | €33,689 | €28,141 | -€5,548 | -16.5% |
| Plant, machinery and equipment | 23 | €2,900 | €8,354 | +€5,453 | +188% |
| Furniture and vehicles | 24 | €30,789 | €19,787 | -€11,002 | -35.7% |
| Current assets | 29/58 | €83,153 | €71,949 | -€11,205 | -13.5% |
| Stocks and contracts in progress | 3 | €10,835 | €8,960 | -€1,875 | -17.3% |
| Stocks | 30/36 | €5,835 | €4,960 | -€875 | -15.0% |
| Contracts in progress | 37 | €5,000 | €4,000 | -€1,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €26,832 | €19,117 | -€7,715 | -28.8% |
| Trade receivables | 40 | €22,275 | €10,387 | -€11,888 | -53.4% |
| Other amounts receivable | 41 | €4,557 | €8,730 | +€4,173 | +91.6% |
| Cash at bank and in hand | 54/58 | €43,750 | €42,079 | -€1,671 | -3.8% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,793 | +€56 | +3.3% |
| Total equity and liabilities | 10/49 | €117,038 | €100,236 | -€16,803 | -14.4% |
| Equity | 10/15 | €69,837 | €76,306 | +€6,470 | +9.3% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €61,837 | €68,306 | +€6,470 | +10.5% |
| Distributable reserves | 133 | €61,837 | €68,306 | +€6,470 | +10.5% |
| Amounts payable | 17/49 | €47,202 | €23,929 | -€23,272 | -49.3% |
| Amounts payable after more than one year | 17 | €11,722 | €5,239 | -€6,483 | -55.3% |
| Financial debts | 170/4 | €11,722 | €5,239 | -€6,483 | -55.3% |
| Amounts payable within one year | 42/48 | €35,480 | €18,690 | -€16,790 | -47.3% |
| Current portion of amounts payable after more than one year | 42 | €7,567 | €6,483 | -€1,084 | -14.3% |
| Trade debts | 44 | €9,378 | €182 | -€9,195 | -98.1% |
| Suppliers | 440/4 | €9,378 | €182 | -€9,195 | -98.1% |
| Taxes, remuneration and social security | 45 | €843 | €462 | -€381 | -45.2% |
| Taxes | 450/3 | €843 | €462 | -€381 | -45.2% |
| Other amounts payable | 47/48 | €17,693 | €11,563 | -€6,130 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,866 | €12,903 | +€36 | +0.3% |
| Other operating charges | 640/8 | €1,197 | €1,388 | +€191 | +16.0% |
| Gross operating margin | 9900 | €24,455 | €23,260 | -€1,194 | -4.9% |
| Operating profit (loss) | 9901 | €10,392 | €8,970 | -€1,422 | -13.7% |
| Financial income | 75/76B | €83 | - | -€83 | |
| Recurring financial income | 75 | €83 | - | -€83 | |
| Financial charges | 65/66B | €905 | €529 | -€375 | -41.5% |
| Recurring financial charges | 65 | €905 | €529 | -€375 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €9,570 | €8,440 | -€1,130 | -11.8% |
| Income taxes | 67/77 | €2,648 | €1,971 | -€678 | -25.6% |
| Profit (loss) for the period | 9904 | €6,922 | €6,470 | -€452 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,922 | €6,470 | -€452 | -6.5% |
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 21 October 2026 via checked.be.