KORVO: 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.
KORVO
Largest movements
- Cash +€95,491
up €95,491 (+161.6%), from €59,083 to €154,574
mainly Other debts (+€204,854) and Net result for the year (+€147,268)
- Tangible fixed assets -€26,204
down €26,204 (-3.9%), from €668,473 to €642,269
of which Land and buildings: -€29,800
- Other debts +€204,854
up €204,854 (+196.4%), from €104,283 to €309,137
- Profit (loss) carried forward -€91,233
down €91,233 (-100.0%), from €91,233 to €0
- Debts after one year -€21,405
down €21,405 (-3.7%), from €579,373 to €557,968
- Tax, wage and social debts -€18,045
down €18,045 (-49.6%), from €36,407 to €18,362
of which Taxes: -€9,375
- Gross operating margin +€88,359
up €88,359 (+51.1%), from €173,081 to €261,440
- Other operating charges -€84,737
down €84,737 (-97.8%), from €86,608 to €1,870
- Staff costs -€75,011
down €75,011 (-100.0%), from €75,011 to €0
- Taxes +€47,101
up €47,101 (+1360.8%), from €3,461 to €50,563
- Depreciation +€34,657
up €34,657 (+755.6%), from €4,587 to €39,244
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 | €894,944 | €965,552 | +€70,608 | +7.9% |
| Fixed assets | 21/28 | €818,473 | €792,269 | -€26,204 | -3.2% |
| Tangible fixed assets | 22/27 | €668,473 | €642,269 | -€26,204 | -3.9% |
| Land and buildings | 22 | €593,639 | €563,839 | -€29,800 | -5.0% |
| Plant, machinery and equipment | 23 | €70,987 | €75,933 | +€4,945 | +7.0% |
| Furniture and vehicles | 24 | €3,847 | €2,498 | -€1,349 | -35.1% |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €76,471 | €173,283 | +€96,812 | +126.6% |
| Amounts receivable within one year | 40/41 | €17,093 | €18,702 | +€1,609 | +9.4% |
| Trade receivables | 40 | €2,334 | €2,190 | -€144 | -6.2% |
| Other amounts receivable | 41 | €14,759 | €16,512 | +€1,753 | +11.9% |
| Cash at bank and in hand | 54/58 | €59,083 | €154,574 | +€95,491 | +161.6% |
| Deferred charges and accrued income | 490/1 | €295 | €7 | -€288 | -97.6% |
| Total equity and liabilities | 10/49 | €894,944 | €965,552 | +€70,608 | +7.9% |
| Equity | 10/15 | €146,233 | €55,000 | -€91,233 | -62.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,233 | €0 | -€91,233 | -100.0% |
| Amounts payable | 17/49 | €748,712 | €910,552 | +€161,840 | +21.6% |
| Amounts payable after more than one year | 17 | €579,373 | €557,968 | -€21,405 | -3.7% |
| Financial debts | 170/4 | €579,373 | €557,968 | -€21,405 | -3.7% |
| Amounts payable within one year | 42/48 | €168,596 | €352,584 | +€183,987 | +109.1% |
| Current portion of amounts payable after more than one year | 42 | €20,627 | €21,405 | +€778 | +3.8% |
| Trade debts | 44 | €7,279 | €3,679 | -€3,600 | -49.5% |
| Suppliers | 440/4 | €7,279 | €3,679 | -€3,600 | -49.5% |
| Taxes, remuneration and social security | 45 | €36,407 | €18,362 | -€18,045 | -49.6% |
| Taxes | 450/3 | €27,737 | €18,362 | -€9,375 | -33.8% |
| Remuneration and social security | 454/9 | €8,670 | €0 | -€8,670 | -100.0% |
| Other amounts payable | 47/48 | €104,283 | €309,137 | +€204,854 | +196.4% |
| Accrued charges and deferred income | 492/3 | €742 | €0 | -€742 | -100.0% |
| Non-recurring operating income | 76A | €2,897 | €71 | -€2,826 | -97.5% |
| Remuneration, social security and pensions | 62 | €75,011 | €0 | -€75,011 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,587 | €39,244 | +€34,657 | +755.6% |
| Other operating charges | 640/8 | €86,608 | €1,870 | -€84,737 | -97.8% |
| Non-recurring operating charges | 66A | - | €284 | +€284 | |
| Gross operating margin | 9900 | €173,081 | €261,440 | +€88,359 | +51.1% |
| Operating profit (loss) | 9901 | €6,876 | €220,040 | +€213,165 | +3100.1% |
| Financial income | 75/76B | €4 | €1 | -€4 | -86.4% |
| Recurring financial income | 75 | €4 | €1 | -€4 | -86.4% |
| Financial charges | 65/66B | €2,073 | €22,210 | +€20,138 | +971.6% |
| Recurring financial charges | 65 | €2,073 | €22,210 | +€20,138 | +971.6% |
| Profit (loss) for the period before taxes | 9903 | €4,808 | €197,831 | +€193,023 | +4014.8% |
| Income taxes | 67/77 | €3,461 | €50,563 | +€47,101 | +1360.8% |
| Profit (loss) for the period | 9904 | €1,347 | €147,268 | +€145,922 | +10836.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,347 | €147,268 | +€145,922 | +10836.5% |
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 6 October 2026 via checked.be.