Kornati: 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.
Kornati
Largest movements
- Tangible fixed assets +€659,553
up €659,553 (+156%), from €424,095 to €1.1m
of which Land and buildings: +€671,536
- Current investments -€600,000
down €600,000 (-75.6%), from €793,522 to €193,522
- Cash +€377,812
up €377,812 (+83.4%), from €453,148 to €830,959
mainly Current investments (+€600,000) and Debts after one year (+€303,957)
- Receivables within one year -€41,013
down €41,013 (-44.1%), from €93,036 to €52,023
of which Trade receivables: -€42,590
- Debts after one year +€303,957
up €303,957 (+127%), from €238,776 to €542,733
- Reserves +€184,235
up €184,235 (+14.2%), from €1.3m to €1.5m
- Tax, wage and social debts -€47,893
down €47,893 (-40.7%), from €117,576 to €69,682
- Other debts -€28,895
down €28,895 (-95.2%), from €30,366 to €1,471
- Depreciation +€77,393
up €77,393 (+179%), from €43,158 to €120,551
- Taxes -€27,690
down €27,690 (-25.2%), from €109,839 to €82,149
- Financial income -€10,131
down €10,131 (-43.6%), from €23,255 to €13,124
- Financial charges +€7,253
up €7,253 (+96.9%), from €7,486 to €14,740
- Gross operating margin +€5,992
up €5,992 (+1.6%), from €386,314 to €392,305
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 | €1,770,559 | €2,164,930 | +€394,371 | +22.3% |
| Fixed assets | 21/28 | €424,095 | €1,083,647 | +€659,553 | +156% |
| Tangible fixed assets | 22/27 | €424,095 | €1,083,647 | +€659,553 | +156% |
| Land and buildings | 22 | €333,228 | €1,004,764 | +€671,536 | +202% |
| Plant, machinery and equipment | 23 | €6,265 | €7,503 | +€1,238 | +19.8% |
| Furniture and vehicles | 24 | €10,255 | €142 | -€10,113 | -98.6% |
| Other tangible fixed assets | 26 | €72,920 | €71,239 | -€1,681 | -2.3% |
| Assets under construction and advance payments | 27 | €1,427 | €0 | -€1,427 | -100% |
| Current assets | 29/58 | €1,346,464 | €1,081,283 | -€265,181 | -19.7% |
| Amounts receivable after more than one year | 29 | €6,759 | €0 | -€6,759 | -100.0% |
| Other amounts receivable | 291 | €6,759 | €0 | -€6,759 | -100.0% |
| Amounts receivable within one year | 40/41 | €93,036 | €52,023 | -€41,013 | -44.1% |
| Trade receivables | 40 | €93,036 | €50,446 | -€42,590 | -45.8% |
| Other amounts receivable | 41 | - | €1,577 | +€1,577 | |
| Current investments | 50/53 | €793,522 | €193,522 | -€600,000 | -75.6% |
| Cash at bank and in hand | 54/58 | €453,148 | €830,959 | +€377,812 | +83.4% |
| Deferred charges and accrued income | 490/1 | €0 | €4,779 | +€4,779 | |
| Total equity and liabilities | 10/49 | €1,770,559 | €2,164,930 | +€394,371 | +22.3% |
| Equity | 10/15 | €1,319,874 | €1,504,109 | +€184,236 | +14.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,299,735 | €1,483,970 | +€184,235 | +14.2% |
| Distributable reserves | 133 | €1,299,735 | €1,483,970 | +€184,235 | +14.2% |
| Profit (loss) carried forward | 14 | €139 | €139 | +€1 | +0.4% |
| Amounts payable | 17/49 | €450,685 | €660,821 | +€210,136 | +46.6% |
| Amounts payable after more than one year | 17 | €238,776 | €542,733 | +€303,957 | +127% |
| Financial debts | 170/4 | €238,776 | €542,733 | +€303,957 | +127% |
| Amounts payable within one year | 42/48 | €201,160 | €118,088 | -€83,071 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €37,197 | €37,614 | +€417 | +1.1% |
| Trade debts | 44 | €16,021 | €9,321 | -€6,700 | -41.8% |
| Suppliers | 440/4 | €16,021 | €9,321 | -€6,700 | -41.8% |
| Taxes, remuneration and social security | 45 | €117,576 | €69,682 | -€47,893 | -40.7% |
| Taxes | 450/3 | €117,576 | €69,682 | -€47,893 | -40.7% |
| Other amounts payable | 47/48 | €30,366 | €1,471 | -€28,895 | -95.2% |
| Accrued charges and deferred income | 492/3 | €10,750 | €0 | -€10,750 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,158 | €120,551 | +€77,393 | +179% |
| Other operating charges | 640/8 | €3,864 | €3,754 | -€110 | -2.8% |
| Gross operating margin | 9900 | €386,314 | €392,305 | +€5,992 | +1.6% |
| Operating profit (loss) | 9901 | €339,292 | €268,000 | -€71,292 | -21.0% |
| Financial income | 75/76B | €23,255 | €13,124 | -€10,131 | -43.6% |
| Recurring financial income | 75 | €23,255 | €13,124 | -€10,131 | -43.6% |
| Financial charges | 65/66B | €7,486 | €14,740 | +€7,253 | +96.9% |
| Recurring financial charges | 65 | €7,486 | €14,740 | +€7,253 | +96.9% |
| Profit (loss) for the period before taxes | 9903 | €355,061 | €266,385 | -€88,676 | -25.0% |
| Income taxes | 67/77 | €109,839 | €82,149 | -€27,690 | -25.2% |
| Profit (loss) for the period | 9904 | €245,222 | €184,236 | -€60,986 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €245,222 | €184,236 | -€60,986 | -24.9% |
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 18 October 2026 via checked.be.