KORBATECK-DELTA: 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.
KORBATECK-DELTA
Largest movements
- Cash -€44,792
down €44,792 (-57.6%), from €77,760 to €32,968
mainly Contributions, distributions and other (-€121,930) and Debts after one year (-€8,321)
- Receivables after one year -€12,791
down €12,791 (-15.2%), from €84,307 to €71,516
- Current investments +€7,585
up €7,585 (+39.9%), from €18,998 to €26,583
- Tangible fixed assets -€3,932
down €3,932 (-2.9%), from €135,493 to €131,561
of which Land and buildings: -€3,221
- Receivables within one year -€3,847
down €3,847 (-12.1%), from €31,831 to €27,984
of which Trade receivables: -€3,991
- Reserves -€62,388
down €62,388 (-24.2%), from €257,681 to €195,293
- Other debts +€17,621
up €17,621 (+588%), from €2,995 to €20,616
- Debts after one year -€8,321
down €8,321 (-16.8%), from €49,592 to €41,271
- Contributions -€6,200
down €6,200 (-100%), from €6,200 to €0
- Gross operating margin +€1,396
up €1,396 (+1.8%), from €77,571 to €78,966
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 | €350,115 | €293,959 | -€56,157 | -16.0% |
| Fixed assets | 21/28 | €135,493 | €131,561 | -€3,932 | -2.9% |
| Tangible fixed assets | 22/27 | €135,493 | €131,561 | -€3,932 | -2.9% |
| Land and buildings | 22 | €134,782 | €131,561 | -€3,221 | -2.4% |
| Furniture and vehicles | 24 | €711 | €0 | -€711 | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €214,623 | €162,398 | -€52,224 | -24.3% |
| Amounts receivable after more than one year | 29 | €84,307 | €71,516 | -€12,791 | -15.2% |
| Other amounts receivable | 291 | €84,307 | €71,516 | -€12,791 | -15.2% |
| Amounts receivable within one year | 40/41 | €31,831 | €27,984 | -€3,847 | -12.1% |
| Trade receivables | 40 | €19,166 | €15,175 | -€3,991 | -20.8% |
| Other amounts receivable | 41 | €12,665 | €12,810 | +€144 | +1.1% |
| Current investments | 50/53 | €18,998 | €26,583 | +€7,585 | +39.9% |
| Cash at bank and in hand | 54/58 | €77,760 | €32,968 | -€44,792 | -57.6% |
| Deferred charges and accrued income | 490/1 | €1,726 | €3,347 | +€1,621 | +93.9% |
| Total equity and liabilities | 10/49 | €350,115 | €293,959 | -€56,157 | -16.0% |
| Equity | 10/15 | €263,881 | €195,293 | -€68,588 | -26.0% |
| Contributions | 10/11 | €6,200 | €0 | -€6,200 | -100% |
| Reserves | 13 | €257,681 | €195,293 | -€62,388 | -24.2% |
| Distributable reserves | 133 | €257,681 | €195,293 | -€62,388 | -24.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €86,235 | €98,666 | +€12,431 | +14.4% |
| Amounts payable after more than one year | 17 | €49,592 | €41,271 | -€8,321 | -16.8% |
| Financial debts | 170/4 | €49,592 | €41,271 | -€8,321 | -16.8% |
| Amounts payable within one year | 42/48 | €36,568 | €57,330 | +€20,762 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €8,874 | €9,008 | +€134 | +1.5% |
| Financial debts | 43 | €3,552 | €3,788 | +€236 | +6.6% |
| Credit institutions | 430/8 | €3,552 | €3,788 | +€236 | +6.6% |
| Trade debts | 44 | €1,642 | €5,008 | +€3,366 | +205% |
| Suppliers | 440/4 | €1,642 | €5,008 | +€3,366 | +205% |
| Taxes, remuneration and social security | 45 | €19,504 | €18,910 | -€593 | -3.0% |
| Taxes | 450/3 | €19,504 | €18,910 | -€593 | -3.0% |
| Other amounts payable | 47/48 | €2,995 | €20,616 | +€17,621 | +588% |
| Accrued charges and deferred income | 492/3 | €76 | €65 | -€11 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,219 | €3,932 | -€287 | -6.8% |
| Other operating charges | 640/8 | €1,413 | €1,475 | +€63 | +4.4% |
| Gross operating margin | 9900 | €77,571 | €78,966 | +€1,396 | +1.8% |
| Operating profit (loss) | 9901 | €71,939 | €73,559 | +€1,620 | +2.3% |
| Financial income | 75/76B | €2,241 | €1,504 | -€737 | -32.9% |
| Recurring financial income | 75 | €2,241 | €1,504 | -€737 | -32.9% |
| Financial charges | 65/66B | €1,993 | €1,384 | -€610 | -30.6% |
| Recurring financial charges | 65 | €1,993 | €1,384 | -€610 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €72,186 | €73,679 | +€1,493 | +2.1% |
| Income taxes | 67/77 | €20,929 | €20,337 | -€592 | -2.8% |
| Profit (loss) for the period | 9904 | €51,257 | €53,342 | +€2,085 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,257 | €53,342 | +€2,085 | +4.1% |
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 31 October 2026 via checked.be.