KORTE: 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.
KORTE
Largest movements
- Tangible fixed assets +€23,075
up €23,075 (+967.0%), from €2,386 to €25,461
of which Furniture and vehicles: +€23,695
- Cash -€12,878
down €12,878 (-95.6%), from €13,465 to €587
mainly Investment in fixed assets (net) (-€29,219) and Accrued charges and deferred income (-€12,203)
- Receivables within one year -€1,011
down €1,011 (-55.1%), from €1,834 to €822
of which Trade receivables: -€532
- Debts after one year +€17,210
new in 2025: €17,210
- Accrued charges and deferred income -€12,203
no longer reported in 2025 (was €12,203)
- Other debts -€6,725
down €6,725 (-27.1%), from €24,855 to €18,131
- Profit (loss) carried forward +€5,488
up €5,488 (+14.1%), from -€38,882 to -€33,394
- Current portion of long-term debt +€5,099
new in 2025: €5,099
- Depreciation +€5,672
up €5,672 (+1203.4%), from €471 to €6,144
- Gross operating margin +€1,735
up €1,735 (+14.6%), from €11,858 to €13,593
- Taxes +€675
new in 2025: €675
- Financial charges +€224
up €224 (+48.6%), from €462 to €686
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 | €18,296 | €27,500 | +€9,205 | +50.3% |
| Fixed assets | 21/28 | €2,386 | €25,461 | +€23,075 | +967.0% |
| Tangible fixed assets | 22/27 | €2,386 | €25,461 | +€23,075 | +967.0% |
| Plant, machinery and equipment | 23 | €2,386 | €1,766 | -€620 | -26.0% |
| Furniture and vehicles | 24 | - | €23,695 | +€23,695 | |
| Current assets | 29/58 | €15,909 | €2,039 | -€13,870 | -87.2% |
| Amounts receivable within one year | 40/41 | €1,834 | €822 | -€1,011 | -55.1% |
| Trade receivables | 40 | €691 | €159 | -€532 | -77.0% |
| Other amounts receivable | 41 | €1,142 | €663 | -€479 | -41.9% |
| Cash at bank and in hand | 54/58 | €13,465 | €587 | -€12,878 | -95.6% |
| Deferred charges and accrued income | 490/1 | €611 | €629 | +€18 | +3.0% |
| Total equity and liabilities | 10/49 | €18,296 | €27,500 | +€9,205 | +50.3% |
| Equity | 10/15 | -€20,282 | -€14,794 | +€5,488 | +27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,882 | -€33,394 | +€5,488 | +14.1% |
| Amounts payable | 17/49 | €38,578 | €42,294 | +€3,716 | +9.6% |
| Amounts payable after more than one year | 17 | - | €17,210 | +€17,210 | |
| Financial debts | 170/4 | - | €17,210 | +€17,210 | |
| Amounts payable within one year | 42/48 | €26,375 | €25,084 | -€1,291 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | - | €5,099 | +€5,099 | |
| Trade debts | 44 | €1,520 | €1,179 | -€341 | -22.4% |
| Suppliers | 440/4 | €1,520 | €1,179 | -€341 | -22.4% |
| Taxes, remuneration and social security | 45 | - | €675 | +€675 | |
| Taxes | 450/3 | - | €675 | +€675 | |
| Other amounts payable | 47/48 | €24,855 | €18,131 | -€6,725 | -27.1% |
| Accrued charges and deferred income | 492/3 | €12,203 | - | -€12,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €471 | €6,144 | +€5,672 | +1203.4% |
| Other operating charges | 640/8 | €556 | €607 | +€51 | +9.2% |
| Gross operating margin | 9900 | €11,858 | €13,593 | +€1,735 | +14.6% |
| Operating profit (loss) | 9901 | €10,831 | €6,843 | -€3,988 | -36.8% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €462 | €686 | +€224 | +48.6% |
| Recurring financial charges | 65 | €462 | €686 | +€224 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €10,369 | €6,164 | -€4,206 | -40.6% |
| Income taxes | 67/77 | - | €675 | +€675 | |
| Profit (loss) for the period | 9904 | €10,369 | €5,488 | -€4,881 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,369 | €5,488 | -€4,881 | -47.1% |
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.