KORFRU: what changed
KORFRU
Largest movements
- Cash -€23,133
down €23,133 (-54.7%), from €42,257 to €19,124
mainly Trade debts (-€34,219) and Investment in fixed assets (net) (-€8,451)
- Receivables within one year -€8,985
down €8,985 (-26.6%), from €33,756 to €24,772
of which Other amounts receivable: -€13,820
- Stocks and contracts +€1,728
up €1,728 (+45.2%), from €3,825 to €5,554
- Trade debts -€34,219
down €34,219 (-95.9%), from €35,679 to €1,461
- Reserves +€8,087
up €8,087 (+49.1%), from €16,483 to €24,570
of which Distributable reserves: +€22,710
- Provisions -€7,530
no longer reported in 2025 (was €7,530)
- Tax, wage and social debts +€1,720
up €1,720 (+45.4%), from €3,786 to €5,506
of which Taxes: +€1,562
- Taxes +€8,464
up €8,464 (+3,845%), from €220 to €8,684
- Staff costs -€5,331
down €5,331 (-9.3%), from €57,293 to €51,963
- Gross operating margin -€3,881
down €3,881 (-5.2%), from €73,964 to €70,083
- Financial income +€3,811
up €3,811 (+38,107,800%), from €0 to €3,811
- Other operating charges -€825
down €825 (-23.8%), from €3,465 to €2,640
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,700 | €114,799 | -€31,901 | -21.7% |
| Fixed assets | 21/28 | €66,861 | €65,349 | -€1,512 | -2.3% |
| Intangible fixed assets | 21 | €1,265 | €1,091 | -€174 | -13.7% |
| Tangible fixed assets | 22/27 | €65,596 | €64,258 | -€1,338 | -2.0% |
| Land and buildings | 22 | €48,248 | €45,909 | -€2,339 | -4.8% |
| Plant, machinery and equipment | 23 | €13,761 | €12,713 | -€1,049 | -7.6% |
| Furniture and vehicles | 24 | €3,588 | €5,637 | +€2,049 | +57.1% |
| Current assets | 29/58 | €79,839 | €49,450 | -€30,389 | -38.1% |
| Stocks and contracts in progress | 3 | €3,825 | €5,554 | +€1,728 | +45.2% |
| Stocks | 30/36 | €3,825 | €5,554 | +€1,728 | +45.2% |
| Amounts receivable within one year | 40/41 | €33,756 | €24,772 | -€8,985 | -26.6% |
| Trade receivables | 40 | €6,089 | €10,925 | +€4,835 | +79.4% |
| Other amounts receivable | 41 | €27,667 | €13,847 | -€13,820 | -50.0% |
| Cash at bank and in hand | 54/58 | €42,257 | €19,124 | -€23,133 | -54.7% |
| Total equity and liabilities | 10/49 | €146,700 | €114,799 | -€31,901 | -21.7% |
| Equity | 10/15 | €99,706 | €107,793 | +€8,087 | +8.1% |
| Contributions | 10/11 | €57,610 | €57,610 | = | 0.0% |
| Reserves | 13 | €16,483 | €24,570 | +€8,087 | +49.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,623 | - | -€14,623 | |
| Distributable reserves | 133 | - | €22,710 | +€22,710 | |
| Profit (loss) carried forward | 14 | €25,613 | €25,613 | = | 0.0% |
| Provisions and deferred taxes | 16 | €7,530 | - | -€7,530 | |
| Deferred taxes | 168 | €7,530 | - | -€7,530 | |
| Amounts payable | 17/49 | €39,465 | €7,007 | -€32,458 | -82.2% |
| Amounts payable within one year | 42/48 | €39,465 | €7,007 | -€32,458 | -82.2% |
| Trade debts | 44 | €35,679 | €1,461 | -€34,219 | -95.9% |
| Suppliers | 440/4 | €35,679 | €1,461 | -€34,219 | -95.9% |
| Taxes, remuneration and social security | 45 | €3,786 | €5,506 | +€1,720 | +45.4% |
| Taxes | 450/3 | €782 | €2,344 | +€1,562 | +200% |
| Remuneration and social security | 454/9 | €3,004 | €3,162 | +€158 | +5.3% |
| Other amounts payable | 47/48 | - | €40 | +€40 | |
| Remuneration, social security and pensions | 62 | €57,293 | €51,963 | -€5,331 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,305 | €9,963 | -€342 | -3.3% |
| Other operating charges | 640/8 | €3,465 | €2,640 | -€825 | -23.8% |
| Gross operating margin | 9900 | €73,964 | €70,083 | -€3,881 | -5.2% |
| Operating profit (loss) | 9901 | €2,901 | €5,518 | +€2,617 | +90.2% |
| Financial income | 75/76B | €0 | €3,811 | +€3,811 | +38,107,800% |
| Recurring financial income | 75 | €0 | €3,811 | +€3,811 | +38,107,800% |
| Financial charges | 65/66B | €236 | €88 | -€149 | -62.9% |
| Recurring financial charges | 65 | €236 | €88 | -€149 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €2,665 | €9,241 | +€6,576 | +247% |
| Income taxes | 67/77 | €220 | €8,684 | +€8,464 | +3,845% |
| Profit (loss) for the period | 9904 | €2,445 | €557 | -€1,888 | -77.2% |
| Transfer from tax-exempt reserves | 789 | - | €22,153 | +€22,153 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,445 | €22,710 | +€20,265 | +829% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.