KORTUS: 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.
KORTUS
Largest movements
- Cash +€12,129
up €12,129 (+21.6%), from €56,061 to €68,190
mainly Net result for the year (+€113,696) and Tax, wage and social debts (+€5,193)
- Current investments +€6,161
up €6,161 (+2.2%), from €280,597 to €286,758
- Receivables within one year -€4,901
down €4,901 (-13.7%), from €35,877 to €30,976
of which Other amounts receivable: -€4,943
- Tax, wage and social debts +€5,193
up €5,193 (+32.9%), from €15,807 to €21,000
- Reserves +€4,951
up €4,951 (+1.4%), from €350,161 to €355,112
- Financial income +€14,514
up €14,514 (+188%), from €7,708 to €22,221
of which Non-recurring financial income: +€14,482
- Taxes +€6,987
up €6,987 (+17.0%), from €41,181 to €48,168
- Gross operating margin +€6,702
up €6,702 (+4.9%), from €137,375 to €144,078
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 | €381,316 | €392,842 | +€11,526 | +3.0% |
| Fixed assets | 21/28 | €8,781 | €6,919 | -€1,862 | -21.2% |
| Tangible fixed assets | 22/27 | €8,781 | €6,919 | -€1,862 | -21.2% |
| Plant, machinery and equipment | 23 | €269 | €99 | -€170 | -63.2% |
| Furniture and vehicles | 24 | €8,512 | €6,820 | -€1,693 | -19.9% |
| Current assets | 29/58 | €372,535 | €385,923 | +€13,388 | +3.6% |
| Amounts receivable within one year | 40/41 | €35,877 | €30,976 | -€4,901 | -13.7% |
| Trade receivables | 40 | €20,558 | €20,600 | +€42 | +0.2% |
| Other amounts receivable | 41 | €15,319 | €10,376 | -€4,943 | -32.3% |
| Current investments | 50/53 | €280,597 | €286,758 | +€6,161 | +2.2% |
| Cash at bank and in hand | 54/58 | €56,061 | €68,190 | +€12,129 | +21.6% |
| Total equity and liabilities | 10/49 | €381,316 | €392,842 | +€11,526 | +3.0% |
| Equity | 10/15 | €355,163 | €360,115 | +€4,951 | +1.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €350,161 | €355,112 | +€4,951 | +1.4% |
| Distributable reserves | 133 | €350,161 | €355,112 | +€4,951 | +1.4% |
| Profit (loss) carried forward | 14 | €2 | €3 | +€0 | +13.3% |
| Amounts payable | 17/49 | €26,153 | €32,727 | +€6,575 | +25.1% |
| Amounts payable within one year | 42/48 | €26,153 | €32,727 | +€6,575 | +25.1% |
| Financial debts | 43 | €8,560 | €8,591 | +€31 | +0.4% |
| Credit institutions | 430/8 | €8,560 | €8,591 | +€31 | +0.4% |
| Trade debts | 44 | €1,786 | €3,136 | +€1,350 | +75.6% |
| Suppliers | 440/4 | €1,786 | €3,136 | +€1,350 | +75.6% |
| Taxes, remuneration and social security | 45 | €15,807 | €21,000 | +€5,193 | +32.9% |
| Taxes | 450/3 | €15,807 | €21,000 | +€5,193 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,198 | €1,862 | -€336 | -15.3% |
| Other operating charges | 640/8 | €342 | €679 | +€336 | +98.3% |
| Gross operating margin | 9900 | €137,375 | €144,078 | +€6,702 | +4.9% |
| Operating profit (loss) | 9901 | €134,835 | €141,536 | +€6,701 | +5.0% |
| Financial income | 75/76B | €7,708 | €22,221 | +€14,514 | +188% |
| Recurring financial income | 75 | €7,708 | €7,739 | +€32 | +0.4% |
| Non-recurring financial income | 76B | - | €14,482 | +€14,482 | |
| Financial charges | 65/66B | €2,314 | €1,894 | -€420 | -18.2% |
| Recurring financial charges | 65 | €2,314 | €1,894 | -€420 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €140,229 | €161,864 | +€21,636 | +15.4% |
| Income taxes | 67/77 | €41,181 | €48,168 | +€6,987 | +17.0% |
| Profit (loss) for the period | 9904 | €99,048 | €113,696 | +€14,649 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €99,048 | €113,696 | +€14,649 | +14.8% |
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 13 October 2026 via checked.be.