KORAGE: 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.
What changed
KORAGE
NACE 46.494, Wholesale of non-electrical household articles
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€215,746
2024 · €254,129-€38,383
Equity
€1.2m
2024 · €1.1m+€115,746
Cash
€706,434
2024 · €702,537+€3,897
Balance sheet total
€1.7m
2024 · €1.8m-€86,668
Largest movements
Assets
- Receivables within one year -€224,812
down €224,812 (-43.8%), from €512,978 to €288,166
of which Trade receivables: -€260,069
- Current investments +€205,587
up €205,587 (+102.0%), from €201,626 to €407,213
- Tangible fixed assets -€58,565
down €58,565 (-25.7%), from €227,465 to €168,901
of which Furniture and vehicles: -€45,926
- Stocks and contracts -€29,565
down €29,565 (-23.0%), from €128,349 to €98,784
of which Contracts in progress: -€38,167
Equity and liabilities
- Other debts -€246,000
down €246,000 (-71.1%), from €346,146 to €100,146
- Reserves +€115,746
up €115,746 (+11.2%), from €1.0m to €1.2m
of which Distributable reserves: +€216,786
- Trade debts +€41,599
up €41,599 (+28.7%), from €144,842 to €186,441
- Debts after one year -€27,944
down €27,944 (-29.5%), from €94,613 to €66,670
Income statement
- Gross operating margin -€72,844
down €72,844 (-4.4%), from €1.6m to €1.6m
- Staff costs -€22,285
down €22,285 (-1.8%), from €1.2m to €1.2m
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.
Result 2024
€254,129
Gross operating margin
-€72,844
Staff costs
+€22,285
Depreciation
-€1,638
Other operating charges
+€2,315
Financial income
+€5,818
Financial charges
-€5,808
Taxes
+€11,490
Result 2025
€215,746
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.
From operations
+€341,655
Investment
-€217,346
Financing
-€120,411
Cash 2024
€702,537
From operations (derived)
+€341,655
Net result for the year
+€215,746
Depreciation
+€70,399
Stocks and contracts
+€29,565
Receivables within one year
+€224,812
Deferred charges and accrued income
-€16,865
Trade debts
+€41,599
Tax, wage and social debts
+€17,786
Other debts
-€246,000
Accrued charges and deferred income
+€4,613
Investment (derived)
-€217,346
Investment in fixed assets (net)
-€11,759
Current investments
-€205,587
Financing
-€120,411
Debts after one year
-€27,944
Current portion of long-term debt
+€1,018
Short-term financial debts
+€6,514
Contributions, distributions and other
-€100,000
Cash 2025
€706,434
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,789,992 | €1,703,324 | -€86,668 | -4.8% |
| Fixed assets | 21/28 | €228,681 | €170,041 | -€58,640 | -25.6% |
| Intangible fixed assets | 21 | €75 | €0 | -€75 | -100.0% |
| Tangible fixed assets | 22/27 | €227,465 | €168,901 | -€58,565 | -25.7% |
| Land and buildings | 22 | €30,515 | €24,517 | -€5,999 | -19.7% |
| Plant, machinery and equipment | 23 | €20,727 | €14,087 | -€6,640 | -32.0% |
| Furniture and vehicles | 24 | €176,223 | €130,297 | -€45,926 | -26.1% |
| Financial fixed assets | 28 | €1,140 | €1,140 | = | 0.0% |
| Current assets | 29/58 | €1,561,312 | €1,533,284 | -€28,028 | -1.8% |
| Stocks and contracts in progress | 3 | €128,349 | €98,784 | -€29,565 | -23.0% |
| Stocks | 30/36 | €76,692 | €85,294 | +€8,602 | +11.2% |
| Contracts in progress | 37 | €51,657 | €13,490 | -€38,167 | -73.9% |
| Amounts receivable within one year | 40/41 | €512,978 | €288,166 | -€224,812 | -43.8% |
| Trade receivables | 40 | €512,842 | €252,773 | -€260,069 | -50.7% |
| Other amounts receivable | 41 | €136 | €35,393 | +€35,258 | +26003.2% |
| Current investments | 50/53 | €201,626 | €407,213 | +€205,587 | +102.0% |
| Cash at bank and in hand | 54/58 | €702,537 | €706,434 | +€3,897 | +0.6% |
| Deferred charges and accrued income | 490/1 | €15,822 | €32,686 | +€16,865 | +106.6% |
| Total equity and liabilities | 10/49 | €1,789,992 | €1,703,324 | -€86,668 | -4.8% |
| Equity | 10/15 | €1,062,843 | €1,178,589 | +€115,746 | +10.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,037,843 | €1,153,589 | +€115,746 | +11.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €101,040 | €0 | -€101,040 | -100.0% |
| Distributable reserves | 133 | €936,803 | €1,153,589 | +€216,786 | +23.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €727,149 | €524,735 | -€202,414 | -27.8% |
| Amounts payable after more than one year | 17 | €94,613 | €66,670 | -€27,944 | -29.5% |
| Financial debts | 170/4 | €94,613 | €66,670 | -€27,944 | -29.5% |
| Amounts payable within one year | 42/48 | €632,536 | €453,453 | -€179,083 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €26,926 | €27,944 | +€1,018 | +3.8% |
| Financial debts | 43 | €10,153 | €16,667 | +€6,514 | +64.2% |
| Credit institutions | 430/8 | €10,153 | €16,667 | +€6,514 | +64.2% |
| Trade debts | 44 | €144,842 | €186,441 | +€41,599 | +28.7% |
| Suppliers | 440/4 | €144,842 | €186,441 | +€41,599 | +28.7% |
| Taxes, remuneration and social security | 45 | €104,470 | €122,257 | +€17,786 | +17.0% |
| Taxes | 450/3 | €35,625 | €37,394 | +€1,770 | +5.0% |
| Remuneration and social security | 454/9 | €68,846 | €84,862 | +€16,017 | +23.3% |
| Other amounts payable | 47/48 | €346,146 | €100,146 | -€246,000 | -71.1% |
| Accrued charges and deferred income | 492/3 | - | €4,613 | +€4,613 | |
| Non-recurring operating income | 76A | €10,838 | €165 | -€10,673 | -98.5% |
| Remuneration, social security and pensions | 62 | €1,238,582 | €1,216,297 | -€22,285 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,761 | €70,399 | +€1,638 | +2.4% |
| Other operating charges | 640/8 | €13,308 | €10,993 | -€2,315 | -17.4% |
| Gross operating margin | 9900 | €1,637,649 | €1,564,804 | -€72,844 | -4.4% |
| Operating profit (loss) | 9901 | €316,999 | €267,116 | -€49,883 | -15.7% |
| Financial income | 75/76B | €34,000 | €39,818 | +€5,818 | +17.1% |
| Recurring financial income | 75 | €34,000 | €39,818 | +€5,818 | +17.1% |
| Financial charges | 65/66B | €5,100 | €10,908 | +€5,808 | +113.9% |
| Recurring financial charges | 65 | €5,100 | €10,908 | +€5,808 | +113.9% |
| Profit (loss) for the period before taxes | 9903 | €345,899 | €296,026 | -€49,873 | -14.4% |
| Income taxes | 67/77 | €91,769 | €80,279 | -€11,490 | -12.5% |
| Profit (loss) for the period | 9904 | €254,129 | €215,746 | -€38,383 | -15.1% |
| Transfer from tax-exempt reserves | 789 | - | €101,040 | +€101,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €254,129 | €316,786 | +€62,657 | +24.7% |
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 5 October 2026 via checked.be.