Korsen: 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.
Korsen
Largest movements
- Receivables within one year -€7,640
down €7,640 (-33.7%), from €22,664 to €15,024
of which Other amounts receivable: -€8,083
- Cash -€2,840
down €2,840 (-7.6%), from €37,149 to €34,309
mainly Short-term financial debts (-€17,691) and Tax, wage and social debts (-€6,082)
- Short-term financial debts -€17,691
no longer reported in 2025 (was €17,691)
- Other debts +€12,370
up €12,370 (+30.1%), from €41,054 to €53,424
- Tax, wage and social debts -€6,082
down €6,082 (-73.0%), from €8,335 to €2,253
of which Remuneration and social security: -€3,708
- Trade debts +€2,623
up €2,623 (+9.7%), from €27,179 to €29,803
- Profit (loss) carried forward -€1,496
down €1,496 (-149%), from -€1,005 to -€2,501
- Purchases and services +€1.7m
new in 2025: €1.7m
- Gross operating margin +€16,331
up €16,331 (+42.3%), from €38,610 to €54,941
- Other operating charges -€1,746
down €1,746 (-90.0%), from €1,939 to €194
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 | €111,854 | €101,579 | -€10,275 | -9.2% |
| Fixed assets | 21/28 | €2,710 | €1,796 | -€914 | -33.7% |
| Tangible fixed assets | 22/27 | €2,710 | €1,796 | -€914 | -33.7% |
| Plant, machinery and equipment | 23 | €2,710 | €1,796 | -€914 | -33.7% |
| Current assets | 29/58 | €109,145 | €99,784 | -€9,361 | -8.6% |
| Stocks and contracts in progress | 3 | €49,112 | €50,230 | +€1,118 | +2.3% |
| Stocks | 30/36 | €49,112 | €50,230 | +€1,118 | +2.3% |
| Amounts receivable within one year | 40/41 | €22,664 | €15,024 | -€7,640 | -33.7% |
| Trade receivables | 40 | €8,126 | €8,569 | +€443 | +5.5% |
| Other amounts receivable | 41 | €14,538 | €6,455 | -€8,083 | -55.6% |
| Cash at bank and in hand | 54/58 | €37,149 | €34,309 | -€2,840 | -7.6% |
| Deferred charges and accrued income | 490/1 | €220 | €220 | = | 0.0% |
| Total equity and liabilities | 10/49 | €111,854 | €101,579 | -€10,275 | -9.2% |
| Equity | 10/15 | €17,595 | €16,099 | -€1,496 | -8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,005 | -€2,501 | -€1,496 | -149% |
| Amounts payable | 17/49 | €94,259 | €85,480 | -€8,779 | -9.3% |
| Amounts payable within one year | 42/48 | €94,259 | €85,480 | -€8,779 | -9.3% |
| Financial debts | 43 | €17,691 | - | -€17,691 | |
| Credit institutions | 430/8 | €17,691 | - | -€17,691 | |
| Trade debts | 44 | €27,179 | €29,803 | +€2,623 | +9.7% |
| Suppliers | 440/4 | €27,179 | €29,803 | +€2,623 | +9.7% |
| Taxes, remuneration and social security | 45 | €8,335 | €2,253 | -€6,082 | -73.0% |
| Taxes | 450/3 | €3,321 | €947 | -€2,374 | -71.5% |
| Remuneration and social security | 454/9 | €5,014 | €1,306 | -€3,708 | -73.9% |
| Other amounts payable | 47/48 | €41,054 | €53,424 | +€12,370 | +30.1% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,662,134 | +€1.7m | |
| Remuneration, social security and pensions | 62 | €50,575 | €50,932 | +€357 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,429 | €1,364 | -€66 | -4.6% |
| Other operating charges | 640/8 | €1,939 | €194 | -€1,746 | -90.0% |
| Gross operating margin | 9900 | €38,610 | €54,941 | +€16,331 | +42.3% |
| Operating profit (loss) | 9901 | -€15,334 | €2,452 | +€17,786 | |
| Financial charges | 65/66B | €3,115 | €3,183 | +€68 | +2.2% |
| Recurring financial charges | 65 | €3,115 | €3,183 | +€68 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,449 | -€731 | +€17,718 | +96.0% |
| Income taxes | 67/77 | €1,184 | €764 | -€420 | -35.4% |
| Profit (loss) for the period | 9904 | -€19,633 | -€1,496 | +€18,137 | +92.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,633 | -€1,496 | +€18,137 | +92.4% |
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 22 October 2026 via checked.be.