KORTHO: 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.
KORTHO
Largest movements
- Cash +€124,300
up €124,300 (+31.5%), from €394,714 to €519,014
mainly Net result for the year (+€417,046) and Other debts (+€170,278)
- Other debts +€170,278
up €170,278 (+68.3%), from €249,315 to €419,593
- Reserves -€60,112
down €60,112 (-42.6%), from €141,164 to €81,051
- Tax, wage and social debts +€10,530
up €10,530 (+685.0%), from €1,537 to €12,067
- Gross operating margin +€234,476
up €234,476 (+73.5%), from €319,113 to €553,589
- Taxes +€61,785
up €61,785 (+81.4%), from €75,879 to €137,664
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 | €394,875 | €519,188 | +€124,313 | +31.5% |
| Fixed assets | 21/28 | €161 | - | -€161 | |
| Tangible fixed assets | 22/27 | €161 | - | -€161 | |
| Plant, machinery and equipment | 23 | €161 | - | -€161 | |
| Current assets | 29/58 | €394,714 | €519,188 | +€124,475 | +31.5% |
| Cash at bank and in hand | 54/58 | €394,714 | €519,014 | +€124,300 | +31.5% |
| Deferred charges and accrued income | 490/1 | - | €175 | +€175 | |
| Total equity and liabilities | 10/49 | €394,875 | €519,188 | +€124,313 | +31.5% |
| Equity | 10/15 | €143,164 | €83,051 | -€60,112 | -42.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €141,164 | €81,051 | -€60,112 | -42.6% |
| Distributable reserves | 133 | €141,164 | €81,051 | -€60,112 | -42.6% |
| Amounts payable | 17/49 | €251,712 | €436,137 | +€184,425 | +73.3% |
| Amounts payable within one year | 42/48 | €251,712 | €436,137 | +€184,425 | +73.3% |
| Trade debts | 44 | €860 | €4,477 | +€3,617 | +420.7% |
| Suppliers | 440/4 | €860 | €4,477 | +€3,617 | +420.7% |
| Taxes, remuneration and social security | 45 | €1,537 | €12,067 | +€10,530 | +685.0% |
| Taxes | 450/3 | €1,537 | €12,067 | +€10,530 | +685.0% |
| Other amounts payable | 47/48 | €249,315 | €419,593 | +€170,278 | +68.3% |
| Non-recurring operating income | 76A | - | €4,235 | +€4,235 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €802 | €161 | -€640 | -79.9% |
| Other operating charges | 640/8 | €604 | €619 | +€14 | +2.4% |
| Gross operating margin | 9900 | €319,113 | €553,589 | +€234,476 | +73.5% |
| Operating profit (loss) | 9901 | €317,707 | €552,809 | +€235,103 | +74.0% |
| Financial income | 75/76B | €1,141 | €1,991 | +€850 | +74.5% |
| Recurring financial income | 75 | €1,141 | €1,991 | +€850 | +74.5% |
| Financial charges | 65/66B | €481 | €90 | -€391 | -81.3% |
| Recurring financial charges | 65 | €481 | €90 | -€391 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €318,367 | €554,710 | +€236,343 | +74.2% |
| Income taxes | 67/77 | €75,879 | €137,664 | +€61,785 | +81.4% |
| Profit (loss) for the period | 9904 | €242,488 | €417,046 | +€174,559 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €242,488 | €417,046 | +€174,559 | +72.0% |
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 10 October 2026 via checked.be.