KORFMAKER: 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.
KORFMAKER
Largest movements
- Cash +€114,429
up €114,429 (+68.3%), from €167,486 to €281,915
mainly Net result for the year (+€210,181) and Depreciation (+€96,916)
- Deferred charges and accrued income +€54,232
up €54,232 (+766.7%), from €7,073 to €61,305
- Tangible fixed assets -€53,731
down €53,731 (-28.4%), from €189,264 to €135,533
of which Plant, machinery and equipment: -€59,231
- Receivables within one year -€40,566
down €40,566 (-24.6%), from €164,601 to €124,034
of which Trade receivables: -€38,193
- Profit (loss) carried forward +€142,936
up €142,936, from -€142,936 to €0
- Current portion of long-term debt -€76,265
down €76,265 (-53.2%), from €143,291 to €67,026
- Debts after one year -€71,188
down €71,188 (-100.0%), from €71,188 to €0
- Reserves +€67,245
up €67,245 (+2169.2%), from €3,100 to €70,345
- Other debts +€9,661
up €9,661 (+116.1%), from €8,324 to €17,986
- Staff costs -€217,466
down €217,466 (-18.2%), from €1.2m to €978,692
- Depreciation -€70,595
down €70,595 (-42.1%), from €167,511 to €96,916
- Gross operating margin -€31,275
down €31,275 (-2.3%), from €1.3m to €1.3m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,095 | €634,708 | +€78,613 | +14.1% |
| Fixed assets | 21/28 | €196,514 | €142,783 | -€53,731 | -27.3% |
| Tangible fixed assets | 22/27 | €189,264 | €135,533 | -€53,731 | -28.4% |
| Plant, machinery and equipment | 23 | €187,796 | €128,565 | -€59,231 | -31.5% |
| Furniture and vehicles | 24 | €1,468 | €6,969 | +€5,501 | +374.6% |
| Financial fixed assets | 28 | €7,250 | €7,250 | = | 0.0% |
| Current assets | 29/58 | €359,581 | €491,924 | +€132,344 | +36.8% |
| Stocks and contracts in progress | 3 | €20,420 | €24,670 | +€4,250 | +20.8% |
| Stocks | 30/36 | €20,420 | €24,670 | +€4,250 | +20.8% |
| Amounts receivable within one year | 40/41 | €164,601 | €124,034 | -€40,566 | -24.6% |
| Trade receivables | 40 | €90,149 | €51,956 | -€38,193 | -42.4% |
| Other amounts receivable | 41 | €74,452 | €72,078 | -€2,373 | -3.2% |
| Cash at bank and in hand | 54/58 | €167,486 | €281,915 | +€114,429 | +68.3% |
| Deferred charges and accrued income | 490/1 | €7,073 | €61,305 | +€54,232 | +766.7% |
| Total equity and liabilities | 10/49 | €556,095 | €634,708 | +€78,613 | +14.1% |
| Equity | 10/15 | -€108,836 | €101,345 | +€210,181 | |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €3,100 | €70,345 | +€67,245 | +2169.2% |
| Distributable reserves | 133 | €3,100 | €70,345 | +€67,245 | +2169.2% |
| Profit (loss) carried forward | 14 | -€142,936 | €0 | +€142,936 | |
| Amounts payable | 17/49 | €664,931 | €533,363 | -€131,568 | -19.8% |
| Amounts payable after more than one year | 17 | €71,188 | €0 | -€71,188 | -100.0% |
| Financial debts | 170/4 | €71,188 | €0 | -€71,188 | -100.0% |
| Amounts payable within one year | 42/48 | €586,552 | €524,583 | -€61,969 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €143,291 | €67,026 | -€76,265 | -53.2% |
| Trade debts | 44 | €296,030 | €296,221 | +€191 | +0.1% |
| Suppliers | 440/4 | €296,030 | €296,221 | +€191 | +0.1% |
| Taxes, remuneration and social security | 45 | €138,907 | €143,350 | +€4,443 | +3.2% |
| Taxes | 450/3 | €10,889 | €12,348 | +€1,459 | +13.4% |
| Remuneration and social security | 454/9 | €128,018 | €131,003 | +€2,985 | +2.3% |
| Other amounts payable | 47/48 | €8,324 | €17,986 | +€9,661 | +116.1% |
| Accrued charges and deferred income | 492/3 | €7,191 | €8,780 | +€1,589 | +22.1% |
| Remuneration, social security and pensions | 62 | €1,196,158 | €978,692 | -€217,466 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,511 | €96,916 | -€70,595 | -42.1% |
| Other operating charges | 640/8 | €14,028 | €11,433 | -€2,595 | -18.5% |
| Gross operating margin | 9900 | €1,348,311 | €1,317,036 | -€31,275 | -2.3% |
| Operating profit (loss) | 9901 | -€29,387 | €229,994 | +€259,380 | |
| Financial income | 75/76B | €2,142 | €269 | -€1,873 | -87.4% |
| Recurring financial income | 75 | €2,142 | €269 | -€1,873 | -87.4% |
| Financial charges | 65/66B | €24,278 | €19,712 | -€4,566 | -18.8% |
| Recurring financial charges | 65 | €24,278 | €19,712 | -€4,566 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | -€51,523 | €210,551 | +€262,074 | |
| Income taxes | 67/77 | €380 | €370 | -€10 | -2.7% |
| Profit (loss) for the period | 9904 | -€51,903 | €210,181 | +€262,084 | |
| Profit (loss) for the period to be appropriated | 9905 | -€51,903 | €210,181 | +€262,084 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.