Korean Tiger: 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.
Korean Tiger
Largest movements
- Cash -€14,781
down €14,781 (-43.6%), from €33,928 to €19,146
mainly Contributions, distributions and other (-€60,000) and Trade debts (-€42,846)
- Intangible fixed assets -€12,240
down €12,240 (-11.9%), from €102,787 to €90,547
- Receivables within one year +€11,421
up €11,421 (+61.4%), from €18,594 to €30,015
of which Other amounts receivable: +€10,942
- Deferred charges and accrued income +€9,441
up €9,441 (+1,299%), from €727 to €10,168
- Tangible fixed assets -€2,287
down €2,287 (-5.1%), from €44,724 to €42,437
of which Assets under construction and advance payments: -€10,000
- Other debts +€58,195
up €58,195 (+1,883%), from €3,090 to €61,285
- Trade debts -€42,846
down €42,846 (-59.9%), from €71,550 to €28,704
- Debts after one year -€13,639
down €13,639 (-65.9%), from €20,701 to €7,062
- Profit (loss) carried forward -€6,054
down €6,054 (-72.6%), from €8,335 to €2,281
- Tax, wage and social debts -€4,640
down €4,640 (-12.7%), from €36,418 to €31,777
of which Remuneration and social security: -€13,124
- Gross operating margin -€73,168
down €73,168 (-19.3%), from €378,317 to €305,149
- Staff costs -€67,234
down €67,234 (-25.1%), from €267,456 to €200,221
- Taxes -€12,788
down €12,788 (-47.9%), from €26,689 to €13,901
- Depreciation +€8,301
up €8,301 (+45.7%), from €18,181 to €26,483
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 | €215,453 | €207,090 | -€8,362 | -3.9% |
| Fixed assets | 21/28 | €151,516 | €136,989 | -€14,527 | -9.6% |
| Intangible fixed assets | 21 | €102,787 | €90,547 | -€12,240 | -11.9% |
| Tangible fixed assets | 22/27 | €44,724 | €42,437 | -€2,287 | -5.1% |
| Plant, machinery and equipment | 23 | €27,150 | €20,750 | -€6,400 | -23.6% |
| Furniture and vehicles | 24 | €7,574 | €13,687 | +€6,113 | +80.7% |
| Other tangible fixed assets | 26 | - | €8,000 | +€8,000 | |
| Assets under construction and advance payments | 27 | €10,000 | - | -€10,000 | |
| Financial fixed assets | 28 | €4,005 | €4,005 | = | 0.0% |
| Current assets | 29/58 | €63,937 | €70,102 | +€6,165 | +9.6% |
| Stocks and contracts in progress | 3 | €10,689 | €10,772 | +€84 | +0.8% |
| Stocks | 30/36 | €10,689 | €10,772 | +€84 | +0.8% |
| Amounts receivable within one year | 40/41 | €18,594 | €30,015 | +€11,421 | +61.4% |
| Trade receivables | 40 | €13,323 | €13,802 | +€479 | +3.6% |
| Other amounts receivable | 41 | €5,270 | €16,213 | +€10,942 | +208% |
| Cash at bank and in hand | 54/58 | €33,928 | €19,146 | -€14,781 | -43.6% |
| Deferred charges and accrued income | 490/1 | €727 | €10,168 | +€9,441 | +1,299% |
| Total equity and liabilities | 10/49 | €215,453 | €207,090 | -€8,362 | -3.9% |
| Equity | 10/15 | €70,677 | €64,623 | -€6,054 | -8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,142 | €56,142 | = | 0.0% |
| Distributable reserves | 133 | €56,142 | €56,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,335 | €2,281 | -€6,054 | -72.6% |
| Amounts payable | 17/49 | €144,776 | €142,467 | -€2,309 | -1.6% |
| Amounts payable after more than one year | 17 | €20,701 | €7,062 | -€13,639 | -65.9% |
| Financial debts | 170/4 | €20,701 | €7,062 | -€13,639 | -65.9% |
| Amounts payable within one year | 42/48 | €124,075 | €135,405 | +€11,330 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €13,017 | €13,639 | +€622 | +4.8% |
| Trade debts | 44 | €71,550 | €28,704 | -€42,846 | -59.9% |
| Suppliers | 440/4 | €71,550 | €28,704 | -€42,846 | -59.9% |
| Taxes, remuneration and social security | 45 | €36,418 | €31,777 | -€4,640 | -12.7% |
| Taxes | 450/3 | €8,027 | €16,511 | +€8,484 | +106% |
| Remuneration and social security | 454/9 | €28,390 | €15,267 | -€13,124 | -46.2% |
| Other amounts payable | 47/48 | €3,090 | €61,285 | +€58,195 | +1,883% |
| Remuneration, social security and pensions | 62 | €267,456 | €200,221 | -€67,234 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,181 | €26,483 | +€8,301 | +45.7% |
| Other operating charges | 640/8 | €891 | €2,165 | +€1,274 | +143% |
| Gross operating margin | 9900 | €378,317 | €305,149 | -€73,168 | -19.3% |
| Operating profit (loss) | 9901 | €91,789 | €76,280 | -€15,509 | -16.9% |
| Financial income | 75/76B | €4 | €95 | +€92 | +2,513% |
| Recurring financial income | 75 | €4 | €95 | +€92 | +2,513% |
| Financial charges | 65/66B | €8,962 | €8,528 | -€434 | -4.8% |
| Recurring financial charges | 65 | €8,962 | €8,528 | -€434 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €82,831 | €67,848 | -€14,983 | -18.1% |
| Income taxes | 67/77 | €26,689 | €13,901 | -€12,788 | -47.9% |
| Profit (loss) for the period | 9904 | €56,142 | €53,946 | -€2,195 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,142 | €53,946 | -€2,195 | -3.9% |
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 27 October 2026 via checked.be.