Korenza: 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.
Korenza
Largest movements
- Receivables within one year +€29,793
up €29,793 (+68.2%), from €43,663 to €73,456
of which Other amounts receivable: +€41,778
- Tangible fixed assets -€19,774
down €19,774 (-2.2%), from €914,418 to €894,644
of which Land and buildings: -€54,945
- Cash -€16,126
down €16,126 (-77.6%), from €20,772 to €4,645
mainly Trade debts (-€44,957) and Investment in fixed assets (net) (-€39,040)
- Profit (loss) carried forward +€68,051
up €68,051 (+41.4%), from -€164,494 to -€96,443
- Trade debts -€44,957
down €44,957 (-94.8%), from €47,436 to €2,479
- Debts after one year -€19,927
down €19,927 (-6.6%), from €302,698 to €282,771
- Other debts -€17,890
down €17,890 (-8.5%), from €211,069 to €193,179
- Revaluation surpluses -€17,687
down €17,687 (-4.8%), from €371,437 to €353,749
- Depreciation +€35,763
up €35,763 (+155%), from €23,051 to €58,814
- Gross operating margin +€24,612
up €24,612 (+20.2%), from €121,576 to €146,188
- Other operating charges +€2,632
up €2,632 (+41.1%), from €6,404 to €9,036
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 | €979,645 | €973,588 | -€6,057 | -0.6% |
| Fixed assets | 21/28 | €914,418 | €894,644 | -€19,774 | -2.2% |
| Tangible fixed assets | 22/27 | €914,418 | €894,644 | -€19,774 | -2.2% |
| Land and buildings | 22 | €914,383 | €859,438 | -€54,945 | -6.0% |
| Furniture and vehicles | 24 | €35 | €709 | +€674 | +1,913% |
| Leasing and similar rights | 25 | - | €34,497 | +€34,497 | |
| Current assets | 29/58 | €65,227 | €78,944 | +€13,717 | +21.0% |
| Amounts receivable within one year | 40/41 | €43,663 | €73,456 | +€29,793 | +68.2% |
| Trade receivables | 40 | €43,663 | €31,678 | -€11,985 | -27.4% |
| Other amounts receivable | 41 | - | €41,778 | +€41,778 | |
| Cash at bank and in hand | 54/58 | €20,772 | €4,645 | -€16,126 | -77.6% |
| Deferred charges and accrued income | 490/1 | €793 | €843 | +€51 | +6.4% |
| Total equity and liabilities | 10/49 | €979,645 | €973,588 | -€6,057 | -0.6% |
| Equity | 10/15 | €368,903 | €436,954 | +€68,051 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €371,437 | €353,749 | -€17,687 | -4.8% |
| Reserves | 13 | €143,360 | €161,047 | +€17,687 | +12.3% |
| Non-distributable reserves | 130/1 | €143,360 | €161,047 | +€17,687 | +12.3% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €141,500 | €159,187 | +€17,687 | +12.5% |
| Profit (loss) carried forward | 14 | -€164,494 | -€96,443 | +€68,051 | +41.4% |
| Amounts payable | 17/49 | €610,742 | €536,634 | -€74,108 | -12.1% |
| Amounts payable after more than one year | 17 | €302,698 | €282,771 | -€19,927 | -6.6% |
| Financial debts | 170/4 | €302,698 | €282,771 | -€19,927 | -6.6% |
| Amounts payable within one year | 42/48 | €308,044 | €253,863 | -€54,181 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €39,501 | €48,968 | +€9,467 | +24.0% |
| Trade debts | 44 | €47,436 | €2,479 | -€44,957 | -94.8% |
| Suppliers | 440/4 | €47,436 | €2,479 | -€44,957 | -94.8% |
| Taxes, remuneration and social security | 45 | €10,039 | €9,237 | -€802 | -8.0% |
| Taxes | 450/3 | €10,039 | €9,237 | -€802 | -8.0% |
| Other amounts payable | 47/48 | €211,069 | €193,179 | -€17,890 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,051 | €58,814 | +€35,763 | +155% |
| Other operating charges | 640/8 | €6,404 | €9,036 | +€2,632 | +41.1% |
| Non-recurring operating charges | 66A | - | €35 | +€35 | |
| Gross operating margin | 9900 | €121,576 | €146,188 | +€24,612 | +20.2% |
| Operating profit (loss) | 9901 | €92,121 | €78,302 | -€13,819 | -15.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,836 | €10,105 | +€1,269 | +14.4% |
| Recurring financial charges | 65 | €8,836 | €10,105 | +€1,269 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €83,285 | €68,197 | -€15,088 | -18.1% |
| Income taxes | 67/77 | €87 | €146 | +€59 | +67.8% |
| Profit (loss) for the period | 9904 | €83,198 | €68,051 | -€15,147 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,198 | €68,051 | -€15,147 | -18.2% |
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 20 October 2026 via checked.be.