KORENMARKT 16: 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.
What changed
KORENMARKT 16
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€91,194
2024 · -€167,424+€258,618
Equity
-€840,018
2024 · -€931,212+€91,194
Cash
€99,053
2024 · €12,393+€86,660
Balance sheet total
€11.9m
2024 · €12.4m-€495,401
Largest movements
Assets
- Tangible fixed assets -€526,335
down €526,335 (-4.4%), from €12.1m to €11.5m
of which Land and buildings: -€444,579
Equity and liabilities
- Debts after one year -€449,304
down €449,304 (-5.6%), from €8.1m to €7.6m
- Other debts -€156,254
no longer reported in 2025 (was €156,254)
Income statement
- Gross operating margin +€157,431
up €157,431 (+17.3%), from €910,095 to €1.1m
- Financial charges -€106,115
down €106,115 (-21.6%), from €490,440 to €384,325
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
-€167,424
Gross operating margin
+€157,431
Depreciation
-€2,321
Other operating charges
-€862
Financial income
-€1,749
Financial charges
+€106,115
Taxes
+€4
Result 2025
€91,194
raises the resultlowers the result
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.
From operations
+€540,402
Investment
-€30,389
Financing
-€423,353
Cash 2024
€12,393
From operations (derived)
+€540,402
Net result for the year
+€91,194
Depreciation
+€564,224
Receivables within one year
+€48,226
Smaller working-capital items
-€867
Other debts
-€156,254
Accrued charges and deferred income
-€6,121
Investment (derived)
-€30,389
Investment in fixed assets (net)
-€30,389
Financing
-€423,353
Debts after one year
-€449,304
Current portion of long-term debt
+€25,951
Cash 2025
€99,053
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,410,026 | €11,914,625 | -€495,401 | -4.0% |
| Fixed assets | 21/28 | €12,083,087 | €11,549,252 | -€533,835 | -4.4% |
| Intangible fixed assets | 21 | €30,000 | €22,500 | -€7,500 | -25.0% |
| Tangible fixed assets | 22/27 | €12,053,087 | €11,526,752 | -€526,335 | -4.4% |
| Land and buildings | 22 | €11,725,826 | €11,281,247 | -€444,579 | -3.8% |
| Plant, machinery and equipment | 23 | €315,692 | €236,728 | -€78,964 | -25.0% |
| Furniture and vehicles | 24 | €8,377 | €5,585 | -€2,792 | -33.3% |
| Other tangible fixed assets | 26 | €3,192 | €3,192 | = | 0.0% |
| Current assets | 29/58 | €326,939 | €365,373 | +€38,434 | +11.8% |
| Amounts receivable within one year | 40/41 | €314,546 | €266,320 | -€48,226 | -15.3% |
| Trade receivables | 40 | €246,948 | €198,494 | -€48,454 | -19.6% |
| Other amounts receivable | 41 | €67,598 | €67,826 | +€228 | +0.3% |
| Cash at bank and in hand | 54/58 | €12,393 | €99,053 | +€86,660 | +699% |
| Total equity and liabilities | 10/49 | €12,410,026 | €11,914,625 | -€495,401 | -4.0% |
| Equity | 10/15 | -€931,212 | -€840,018 | +€91,194 | +9.8% |
| Contributions | 10/11 | €64,500 | €64,500 | = | 0.0% |
| Capital | 10 | €64,500 | €64,500 | = | 0.0% |
| Issued capital | 100 | €64,500 | €64,500 | = | 0.0% |
| Reserves | 13 | €142,628 | €142,628 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,452 | €6,452 | = | 0.0% |
| Legal reserve | 130 | €6,452 | €6,452 | = | 0.0% |
| Distributable reserves | 133 | €136,176 | €136,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,138,340 | -€1,047,146 | +€91,194 | +8.0% |
| Amounts payable | 17/49 | €13,341,238 | €12,754,643 | -€586,595 | -4.4% |
| Amounts payable after more than one year | 17 | €8,057,154 | €7,607,850 | -€449,304 | -5.6% |
| Financial debts | 170/4 | €8,057,154 | €7,607,850 | -€449,304 | -5.6% |
| Amounts payable within one year | 42/48 | €5,218,556 | €5,087,386 | -€131,170 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €423,286 | €449,237 | +€25,951 | +6.1% |
| Financial debts | 43 | €4,500,000 | €4,500,000 | = | 0.0% |
| Credit institutions | 430/8 | €4,500,000 | €4,500,000 | = | 0.0% |
| Trade debts | 44 | €139,016 | €138,110 | -€906 | -0.7% |
| Suppliers | 440/4 | €139,016 | €138,110 | -€906 | -0.7% |
| Taxes, remuneration and social security | 45 | - | €39 | +€39 | |
| Taxes | 450/3 | - | €39 | +€39 | |
| Other amounts payable | 47/48 | €156,254 | - | -€156,254 | |
| Accrued charges and deferred income | 492/3 | €65,528 | €59,407 | -€6,121 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561,903 | €564,224 | +€2,321 | +0.4% |
| Other operating charges | 640/8 | €27,550 | €28,412 | +€862 | +3.1% |
| Gross operating margin | 9900 | €910,095 | €1,067,526 | +€157,431 | +17.3% |
| Operating profit (loss) | 9901 | €320,642 | €474,890 | +€154,248 | +48.1% |
| Financial income | 75/76B | €2,376 | €627 | -€1,749 | -73.6% |
| Recurring financial income | 75 | €2,376 | €627 | -€1,749 | -73.6% |
| Financial charges | 65/66B | €490,440 | €384,325 | -€106,115 | -21.6% |
| Recurring financial charges | 65 | €490,440 | €384,325 | -€106,115 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | -€167,422 | €91,192 | +€258,614 | |
| Income taxes | 67/77 | €2 | -€2 | -€4 | |
| Profit (loss) for the period | 9904 | -€167,424 | €91,194 | +€258,618 | |
| Profit (loss) for the period to be appropriated | 9905 | -€167,424 | €91,194 | +€258,618 |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.