KOREL: 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.
KOREL
Largest movements
- Cash +€1,133
up €1,133 (+10.1%), from €11,202 to €12,335
mainly Net result for the year (+€3,270) and Deferred charges and accrued income (+€447)
- Deferred charges and accrued income -€447
down €447 (-22.3%), from €2,005 to €1,558
- Profit (loss) carried forward +€3,270
up €3,270 (+672.8%), from €486 to €3,756
- Trade debts -€2,283
down €2,283 (-27.6%), from €8,262 to €5,979
- Tax, wage and social debts -€531
down €531 (-24.4%), from €2,177 to €1,646
of which Taxes: -€531
- Gross operating margin +€3,375
up €3,375 (+184.1%), from €1,833 to €5,208
- Financial charges +€670
up €670 (+127.6%), from €525 to €1,195
- Financial income -€98
no longer reported in 2025 (was €98)
of which Financial income: -€98
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,109 | €18,565 | +€456 | +2.5% |
| Fixed assets | 21/28 | €320 | €320 | = | 0.0% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €17,789 | €18,245 | +€456 | +2.6% |
| Stocks and contracts in progress | 3 | €4,234 | €4,056 | -€178 | -4.2% |
| Stocks | 30/36 | €4,234 | €4,056 | -€178 | -4.2% |
| Amounts receivable within one year | 40/41 | €348 | €296 | -€52 | -14.9% |
| Other amounts receivable | 41 | €348 | €296 | -€52 | -14.9% |
| Cash at bank and in hand | 54/58 | €11,202 | €12,335 | +€1,133 | +10.1% |
| Deferred charges and accrued income | 490/1 | €2,005 | €1,558 | -€447 | -22.3% |
| Total equity and liabilities | 10/49 | €18,109 | €18,565 | +€456 | +2.5% |
| Equity | 10/15 | €7,328 | €10,598 | +€3,270 | +44.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €642 | €642 | = | 0.0% |
| Non-distributable reserves | 130/1 | €642 | €642 | = | 0.0% |
| Reserves not available under the articles | 1311 | €642 | €642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €486 | €3,756 | +€3,270 | +672.8% |
| Amounts payable | 17/49 | €10,781 | €7,967 | -€2,814 | -26.1% |
| Amounts payable within one year | 42/48 | €10,781 | €7,967 | -€2,814 | -26.1% |
| Trade debts | 44 | €8,262 | €5,979 | -€2,283 | -27.6% |
| Suppliers | 440/4 | €8,262 | €5,979 | -€2,283 | -27.6% |
| Taxes, remuneration and social security | 45 | €2,177 | €1,646 | -€531 | -24.4% |
| Taxes | 450/3 | €531 | - | -€531 | |
| Remuneration and social security | 454/9 | €1,646 | €1,646 | = | 0.0% |
| Other amounts payable | 47/48 | €342 | €342 | = | 0.0% |
| Other operating charges | 640/8 | €728 | €743 | +€15 | +2.1% |
| Gross operating margin | 9900 | €1,833 | €5,208 | +€3,375 | +184.1% |
| Operating profit (loss) | 9901 | €1,105 | €4,465 | +€3,360 | +304.1% |
| Financial income | 75/76B | €98 | - | -€98 | |
| Recurring financial income | 75 | €98 | - | -€98 | |
| Non-recurring financial income | 76B | €98 | - | -€98 | |
| Financial charges | 65/66B | €525 | €1,195 | +€670 | +127.6% |
| Recurring financial charges | 65 | €525 | €1,195 | +€670 | +127.6% |
| Profit (loss) for the period before taxes | 9903 | €678 | €3,270 | +€2,592 | +382.3% |
| Profit (loss) for the period | 9904 | €678 | €3,270 | +€2,592 | +382.3% |
| Profit (loss) for the period to be appropriated | 9905 | €678 | €3,270 | +€2,592 | +382.3% |
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.