KORN: 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.
KORN
Largest movements
- Cash -€65,741
down €65,741 (-32.5%), from €202,446 to €136,705
mainly Debts after one year (-€61,305) and Other debts (-€39,993)
- Receivables within one year -€39,368
down €39,368 (-20.4%), from €193,216 to €153,848
of which Trade receivables: -€40,269
- Tangible fixed assets -€13,610
down €13,610 (-2.0%), from €684,789 to €671,180
of which Land and buildings: -€15,642
- Debts after one year -€61,305
down €61,305 (-18.1%), from €338,724 to €277,419
- Other debts -€39,993
down €39,993 (-83.5%), from €47,876 to €7,883
- Tax, wage and social debts -€28,275
down €28,275 (-55.4%), from €51,068 to €22,793
of which Remuneration and social security: -€22,550
- Gross operating margin -€62,159
down €62,159 (-52.3%), from €118,783 to €56,623
- Taxes -€11,399
down €11,399 (-67.7%), from €16,835 to €5,436
- Depreciation +€2,574
up €2,574 (+13.5%), from €19,057 to €21,632
- Financial income -€2,352
down €2,352 (-98.7%), from €2,383 to €32
- Staff costs +€2,064
up €2,064 (+504.7%), from €409 to €2,472
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.
Cash bridge derived
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 | €1,082,658 | €965,138 | -€117,520 | -10.9% |
| Fixed assets | 21/28 | €684,989 | €671,380 | -€13,610 | -2.0% |
| Tangible fixed assets | 22/27 | €684,789 | €671,180 | -€13,610 | -2.0% |
| Land and buildings | 22 | €672,606 | €656,964 | -€15,642 | -2.3% |
| Plant, machinery and equipment | 23 | €10,377 | €7,509 | -€2,869 | -27.6% |
| Furniture and vehicles | 24 | €1,806 | €6,707 | +€4,901 | +271.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €397,669 | €293,759 | -€103,910 | -26.1% |
| Amounts receivable within one year | 40/41 | €193,216 | €153,848 | -€39,368 | -20.4% |
| Trade receivables | 40 | €191,643 | €151,374 | -€40,269 | -21.0% |
| Other amounts receivable | 41 | €1,573 | €2,474 | +€901 | +57.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €202,446 | €136,705 | -€65,741 | -32.5% |
| Deferred charges and accrued income | 490/1 | €2,007 | €3,205 | +€1,198 | +59.7% |
| Total equity and liabilities | 10/49 | €1,082,658 | €965,138 | -€117,520 | -10.9% |
| Equity | 10/15 | €609,286 | €618,339 | +€9,053 | +1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €547,286 | €556,339 | +€9,053 | +1.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €541,086 | €550,139 | +€9,053 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €473,371 | €346,799 | -€126,572 | -26.7% |
| Amounts payable after more than one year | 17 | €338,724 | €277,419 | -€61,305 | -18.1% |
| Financial debts | 170/4 | €338,724 | €277,419 | -€61,305 | -18.1% |
| Amounts payable within one year | 42/48 | €134,621 | €68,670 | -€65,951 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €35,324 | €36,305 | +€981 | +2.8% |
| Trade debts | 44 | €354 | €1,690 | +€1,337 | +378.1% |
| Suppliers | 440/4 | €354 | €1,690 | +€1,337 | +378.1% |
| Taxes, remuneration and social security | 45 | €51,068 | €22,793 | -€28,275 | -55.4% |
| Taxes | 450/3 | €15,968 | €10,243 | -€5,725 | -35.9% |
| Remuneration and social security | 454/9 | €35,100 | €12,550 | -€22,550 | -64.2% |
| Other amounts payable | 47/48 | €47,876 | €7,883 | -€39,993 | -83.5% |
| Accrued charges and deferred income | 492/3 | €27 | €710 | +€683 | +2529.6% |
| Remuneration, social security and pensions | 62 | €409 | €2,472 | +€2,064 | +504.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,057 | €21,632 | +€2,574 | +13.5% |
| Other operating charges | 640/8 | €5,393 | €5,731 | +€337 | +6.3% |
| Gross operating margin | 9900 | €118,783 | €56,623 | -€62,159 | -52.3% |
| Operating profit (loss) | 9901 | €93,923 | €26,789 | -€67,135 | -71.5% |
| Financial income | 75/76B | €2,383 | €32 | -€2,352 | -98.7% |
| Recurring financial income | 75 | €2,383 | €32 | -€2,352 | -98.7% |
| Financial charges | 65/66B | €13,228 | €12,332 | -€896 | -6.8% |
| Recurring financial charges | 65 | €13,228 | €12,332 | -€896 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €83,079 | €14,489 | -€68,590 | -82.6% |
| Income taxes | 67/77 | €16,835 | €5,436 | -€11,399 | -67.7% |
| Profit (loss) for the period | 9904 | €66,244 | €9,053 | -€57,191 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,244 | €9,053 | -€57,191 | -86.3% |
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 11 October 2026 via checked.be.