KORIM: 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.
KORIM
Largest movements
- Stocks and contracts -€100,867
down €100,867 (-4.7%), from €2.1m to €2.0m
- Deferred charges and accrued income +€56,484
up €56,484 (+229%), from €24,682 to €81,165
- Cash -€43,686
down €43,686 (-60.2%), from €72,616 to €28,930
mainly Net result for the year (-€130,877) and Deferred charges and accrued income (-€56,484)
- Reserves -€108,342
down €108,342 (-71.0%), from €152,657 to €44,315
of which Distributable reserves: -€108,342
- Other debts +€32,766
up €32,766 (+1.8%), from €1.8m to €1.8m
- Gross operating margin -€191,440
down €191,440 (-46.3%), from €413,621 to €222,181
- Staff costs -€33,757
down €33,757 (-10.4%), from €325,230 to €291,473
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 | €2,329,160 | €2,234,673 | -€94,487 | -4.1% |
| Fixed assets | 21/28 | €48,918 | €29,301 | -€19,617 | -40.1% |
| Tangible fixed assets | 22/27 | €48,918 | €29,301 | -€19,617 | -40.1% |
| Land and buildings | 22 | €21,857 | €13,003 | -€8,854 | -40.5% |
| Plant, machinery and equipment | 23 | €8,313 | €8,399 | +€86 | +1.0% |
| Furniture and vehicles | 24 | €18,748 | €7,900 | -€10,848 | -57.9% |
| Current assets | 29/58 | €2,280,242 | €2,205,371 | -€74,870 | -3.3% |
| Stocks and contracts in progress | 3 | €2,131,071 | €2,030,205 | -€100,867 | -4.7% |
| Stocks | 30/36 | €2,131,071 | €2,030,205 | -€100,867 | -4.7% |
| Amounts receivable within one year | 40/41 | €51,873 | €65,072 | +€13,198 | +25.4% |
| Trade receivables | 40 | €51,873 | €65,072 | +€13,198 | +25.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,616 | €28,930 | -€43,686 | -60.2% |
| Deferred charges and accrued income | 490/1 | €24,682 | €81,165 | +€56,484 | +229% |
| Total equity and liabilities | 10/49 | €2,329,160 | €2,234,673 | -€94,487 | -4.1% |
| Equity | 10/15 | €490,657 | €359,780 | -€130,877 | -26.7% |
| Contributions | 10/11 | €338,000 | €338,000 | = | 0.0% |
| Capital | 10 | €338,000 | €338,000 | = | 0.0% |
| Issued capital | 100 | €338,000 | €338,000 | = | 0.0% |
| Reserves | 13 | €152,657 | €44,315 | -€108,342 | -71.0% |
| Non-distributable reserves | 130/1 | €33,800 | €33,800 | = | 0.0% |
| Legal reserve | 130 | €33,800 | €33,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,515 | €10,515 | = | 0.0% |
| Distributable reserves | 133 | €108,342 | €0 | -€108,342 | -100% |
| Profit (loss) carried forward | 14 | - | -€22,536 | -€22,536 | |
| Amounts payable | 17/49 | €1,838,503 | €1,874,893 | +€36,390 | +2.0% |
| Amounts payable within one year | 42/48 | €1,838,503 | €1,874,893 | +€36,390 | +2.0% |
| Trade debts | 44 | €19,597 | €24,219 | +€4,622 | +23.6% |
| Suppliers | 440/4 | €19,597 | €24,219 | +€4,622 | +23.6% |
| Taxes, remuneration and social security | 45 | €32,296 | €31,298 | -€998 | -3.1% |
| Taxes | 450/3 | €7,628 | €3,680 | -€3,949 | -51.8% |
| Remuneration and social security | 454/9 | €24,667 | €27,618 | +€2,951 | +12.0% |
| Other amounts payable | 47/48 | €1,786,611 | €1,819,377 | +€32,766 | +1.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €325,230 | €291,473 | -€33,757 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,020 | €22,992 | -€29 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,348 | €2,449 | +€101 | +4.3% |
| Gross operating margin | 9900 | €413,621 | €222,181 | -€191,440 | -46.3% |
| Operating profit (loss) | 9901 | €63,023 | -€94,733 | -€157,755 | |
| Financial income | 75/76B | €3,032 | €877 | -€2,155 | -71.1% |
| Recurring financial income | 75 | €3,032 | €877 | -€2,155 | -71.1% |
| Financial charges | 65/66B | €36,496 | €36,904 | +€408 | +1.1% |
| Recurring financial charges | 65 | €36,496 | €36,904 | +€408 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €29,558 | -€130,760 | -€160,318 | |
| Income taxes | 67/77 | - | €118 | +€118 | |
| Profit (loss) for the period | 9904 | €29,558 | -€130,877 | -€160,436 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,558 | -€130,877 | -€160,436 |
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 13 October 2026 via checked.be.