KORVAST: 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.
KORVAST
Largest movements
- Tangible fixed assets -€34,363
down €34,363 (-6.7%), from €514,005 to €479,642
of which Land and buildings: -€27,984
- Cash +€25,533
up €25,533 (+8.7%), from €291,925 to €317,459
mainly Depreciation (+€39,832) and Trade debts (+€175)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€9,040
down €9,040 (-14.9%), from €60,708 to €51,668
- Other operating charges +€1,555
up €1,555 (+18.1%), from €8,586 to €10,141
- Depreciation +€896
up €896 (+2.3%), from €38,937 to €39,832
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 | €805,931 | €797,101 | -€8,829 | -1.1% |
| Fixed assets | 21/28 | €514,005 | €479,642 | -€34,363 | -6.7% |
| Tangible fixed assets | 22/27 | €514,005 | €479,642 | -€34,363 | -6.7% |
| Land and buildings | 22 | €493,126 | €465,142 | -€27,984 | -5.7% |
| Furniture and vehicles | 24 | €20,879 | €14,501 | -€6,378 | -30.5% |
| Current assets | 29/58 | €291,925 | €317,459 | +€25,533 | +8.7% |
| Cash at bank and in hand | 54/58 | €291,925 | €317,459 | +€25,533 | +8.7% |
| Total equity and liabilities | 10/49 | €805,931 | €797,101 | -€8,829 | -1.1% |
| Equity | 10/15 | €722,288 | €721,533 | -€755 | -0.1% |
| Contributions | 10/11 | €503,420 | €503,420 | = | 0.0% |
| Reserves | 13 | €218,867 | €218,078 | -€790 | -0.4% |
| Non-distributable reserves | 130/1 | €476 | €476 | = | 0.0% |
| Reserves not available under the articles | 1311 | €476 | €476 | = | 0.0% |
| Tax-exempt reserves | 132 | €201,216 | €191,677 | -€9,540 | -4.7% |
| Distributable reserves | 133 | €17,175 | €25,925 | +€8,750 | +50.9% |
| Profit (loss) carried forward | 14 | €1 | €35 | +€34 | +5522.6% |
| Provisions and deferred taxes | 16 | €67,072 | €63,892 | -€3,180 | -4.7% |
| Deferred taxes | 168 | €67,072 | €63,892 | -€3,180 | -4.7% |
| Amounts payable | 17/49 | €16,571 | €11,677 | -€4,894 | -29.5% |
| Amounts payable within one year | 42/48 | €16,571 | €11,677 | -€4,894 | -29.5% |
| Trade debts | 44 | €653 | €829 | +€175 | +26.9% |
| Suppliers | 440/4 | €653 | €829 | +€175 | +26.9% |
| Taxes, remuneration and social security | 45 | €5,918 | €5,585 | -€333 | -5.6% |
| Taxes | 450/3 | €5,918 | €5,585 | -€333 | -5.6% |
| Other amounts payable | 47/48 | €10,000 | €5,263 | -€4,737 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,937 | €39,832 | +€896 | +2.3% |
| Other operating charges | 640/8 | €8,586 | €10,141 | +€1,555 | +18.1% |
| Gross operating margin | 9900 | €60,708 | €51,668 | -€9,040 | -14.9% |
| Operating profit (loss) | 9901 | €13,185 | €1,694 | -€11,491 | -87.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €155 | €45 | -€110 | -71.0% |
| Recurring financial charges | 65 | €155 | €45 | -€110 | -71.0% |
| Profit (loss) for the period before taxes | 9903 | €13,030 | €1,649 | -€11,381 | -87.3% |
| Transfer from deferred taxes | 780 | €3,069 | €3,180 | +€111 | +3.6% |
| Income taxes | 67/77 | €5,920 | €5,585 | -€335 | -5.7% |
| Profit (loss) for the period | 9904 | €10,179 | -€755 | -€10,934 | |
| Transfer from tax-exempt reserves | 789 | €9,206 | €9,540 | +€333 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,385 | €8,784 | -€10,601 | -54.7% |
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 12 October 2026 via checked.be.