KORNERSTONE: 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.
KORNERSTONE
Largest movements
- Cash +€41,570
up €41,570 (+137.5%), from €30,227 to €71,797
mainly Other debts (+€33,140) and Net result for the year (+€32,870)
- Receivables within one year -€11,948
down €11,948 (-55.3%), from €21,601 to €9,654
of which Other amounts receivable: -€9,773
- Deferred charges and accrued income -€6,632
down €6,632 (-81.0%), from €8,191 to €1,559
- Other debts +€33,140
up €33,140 (+40.4%), from €82,120 to €115,260
- Profit (loss) carried forward -€17,130
down €17,130 (-29.2%), from €58,617 to €41,487
- Tax, wage and social debts +€14,777
up €14,777 (+370.9%), from €3,984 to €18,761
- Debts after one year -€7,922
down €7,922 (-6.4%), from €124,592 to €116,670
- Gross operating margin +€20,782
up €20,782 (+44.2%), from €46,993 to €67,774
- Taxes +€6,917
up €6,917 (+114.7%), from €6,032 to €12,949
- Depreciation +€1,509
up €1,509 (+11.2%), from €13,501 to €15,010
- Financial charges -€810
down €810 (-12.3%), from €6,561 to €5,752
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 | €302,912 | €323,815 | +€20,902 | +6.9% |
| Fixed assets | 21/28 | €242,892 | €240,804 | -€2,088 | -0.9% |
| Tangible fixed assets | 22/27 | €242,892 | €240,804 | -€2,088 | -0.9% |
| Land and buildings | 22 | €234,864 | €237,923 | +€3,059 | +1.3% |
| Plant, machinery and equipment | 23 | - | €1,217 | +€1,217 | |
| Furniture and vehicles | 24 | €1,141 | €1,665 | +€524 | +45.9% |
| Assets under construction and advance payments | 27 | €6,888 | €0 | -€6,888 | -100.0% |
| Current assets | 29/58 | €60,020 | €83,010 | +€22,990 | +38.3% |
| Amounts receivable within one year | 40/41 | €21,601 | €9,654 | -€11,948 | -55.3% |
| Trade receivables | 40 | €11,828 | €9,654 | -€2,175 | -18.4% |
| Other amounts receivable | 41 | €9,773 | €0 | -€9,773 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,227 | €71,797 | +€41,570 | +137.5% |
| Deferred charges and accrued income | 490/1 | €8,191 | €1,559 | -€6,632 | -81.0% |
| Total equity and liabilities | 10/49 | €302,912 | €323,815 | +€20,902 | +6.9% |
| Equity | 10/15 | €79,077 | €61,947 | -€17,130 | -21.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,617 | €41,487 | -€17,130 | -29.2% |
| Amounts payable | 17/49 | €223,835 | €261,868 | +€38,033 | +17.0% |
| Amounts payable after more than one year | 17 | €124,592 | €116,670 | -€7,922 | -6.4% |
| Financial debts | 170/4 | €124,592 | €116,670 | -€7,922 | -6.4% |
| Amounts payable within one year | 42/48 | €98,852 | €144,791 | +€45,939 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €8,003 | €8,243 | +€239 | +3.0% |
| Trade debts | 44 | €4,745 | €2,527 | -€2,218 | -46.7% |
| Suppliers | 440/4 | €4,745 | €2,527 | -€2,218 | -46.7% |
| Taxes, remuneration and social security | 45 | €3,984 | €18,761 | +€14,777 | +370.9% |
| Taxes | 450/3 | €3,984 | €18,761 | +€14,777 | +370.9% |
| Other amounts payable | 47/48 | €82,120 | €115,260 | +€33,140 | +40.4% |
| Accrued charges and deferred income | 492/3 | €391 | €407 | +€16 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,501 | €15,010 | +€1,509 | +11.2% |
| Other operating charges | 640/8 | €1,207 | €1,395 | +€188 | +15.6% |
| Gross operating margin | 9900 | €46,993 | €67,774 | +€20,782 | +44.2% |
| Operating profit (loss) | 9901 | €32,285 | €51,370 | +€19,085 | +59.1% |
| Financial income | 75/76B | €197 | €200 | +€3 | +1.7% |
| Recurring financial income | 75 | €197 | €200 | +€3 | +1.7% |
| Financial charges | 65/66B | €6,561 | €5,752 | -€810 | -12.3% |
| Recurring financial charges | 65 | €6,561 | €5,752 | -€810 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €25,921 | €45,819 | +€19,898 | +76.8% |
| Income taxes | 67/77 | €6,032 | €12,949 | +€6,917 | +114.7% |
| Profit (loss) for the period | 9904 | €19,888 | €32,870 | +€12,981 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,888 | €32,870 | +€12,981 | +65.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.