VM Het Koraal: 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.
VM Het Koraal
Largest movements
- Receivables within one year +€48,855
up €48,855 (+320.5%), from €15,241 to €64,096
of which Other amounts receivable: +€47,978
- Tangible fixed assets -€6,121
down €6,121 (-36.6%), from €16,739 to €10,618
- Cash -€1,283
down €1,283 (-59.5%), from €2,156 to €873
mainly Receivables within one year (-€48,855) and Short-term financial debts (-€3,403)
- Reserves +€33,410
up €33,410 (+152.6%), from €21,893 to €55,303
- Tax, wage and social debts +€13,218
up €13,218 (+951.7%), from €1,389 to €14,607
of which Taxes: +€11,607
- Short-term financial debts -€3,403
down €3,403 (-77.5%), from €4,393 to €990
of which Credit institutions: -€3,403
- Trade debts -€1,706
down €1,706 (-34.9%), from €4,896 to €3,190
- Staff costs -€25,749
no longer reported in 2025 (was €25,749)
- Gross operating margin -€25,048
down €25,048 (-30.2%), from €82,883 to €57,835
- Taxes +€5,246
up €5,246 (+53.7%), from €9,762 to €15,008
- Financial income +€1,577
up €1,577 (+138328.9%), from €1 to €1,578
- Depreciation +€1,389
up €1,389 (+21.6%), from €6,432 to €7,821
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 | €34,571 | €76,090 | +€41,519 | +120.1% |
| Fixed assets | 21/28 | €16,739 | €10,618 | -€6,121 | -36.6% |
| Tangible fixed assets | 22/27 | €16,739 | €10,618 | -€6,121 | -36.6% |
| Furniture and vehicles | 24 | €16,739 | €10,618 | -€6,121 | -36.6% |
| Current assets | 29/58 | €17,832 | €65,472 | +€47,640 | +267.2% |
| Amounts receivable within one year | 40/41 | €15,241 | €64,096 | +€48,855 | +320.5% |
| Trade receivables | 40 | €9,432 | €10,309 | +€876 | +9.3% |
| Other amounts receivable | 41 | €5,809 | €53,788 | +€47,978 | +825.9% |
| Cash at bank and in hand | 54/58 | €2,156 | €873 | -€1,283 | -59.5% |
| Deferred charges and accrued income | 490/1 | €435 | €503 | +€68 | +15.6% |
| Total equity and liabilities | 10/49 | €34,571 | €76,090 | +€41,519 | +120.1% |
| Equity | 10/15 | €23,893 | €57,303 | +€33,410 | +139.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,893 | €55,303 | +€33,410 | +152.6% |
| Distributable reserves | 133 | €21,893 | €55,303 | +€33,410 | +152.6% |
| Amounts payable | 17/49 | €10,678 | €18,787 | +€8,109 | +75.9% |
| Amounts payable within one year | 42/48 | €10,678 | €18,787 | +€8,109 | +75.9% |
| Financial debts | 43 | €4,393 | €990 | -€3,403 | -77.5% |
| Credit institutions | 430/8 | €3,403 | - | -€3,403 | |
| Other loans | 439 | €990 | €990 | = | 0.0% |
| Trade debts | 44 | €4,896 | €3,190 | -€1,706 | -34.9% |
| Suppliers | 440/4 | €4,896 | €3,190 | -€1,706 | -34.9% |
| Taxes, remuneration and social security | 45 | €1,389 | €14,607 | +€13,218 | +951.7% |
| Taxes | 450/3 | - | €11,607 | +€11,607 | |
| Remuneration and social security | 454/9 | €1,389 | €3,000 | +€1,611 | +116.0% |
| Remuneration, social security and pensions | 62 | €25,749 | - | -€25,749 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,432 | €7,821 | +€1,389 | +21.6% |
| Other operating charges | 640/8 | €1,108 | €1,819 | +€711 | +64.2% |
| Non-recurring operating charges | 66A | €1,438 | - | -€1,438 | |
| Gross operating margin | 9900 | €82,883 | €57,835 | -€25,048 | -30.2% |
| Operating profit (loss) | 9901 | €48,157 | €48,196 | +€38 | +0.1% |
| Financial income | 75/76B | €1 | €1,578 | +€1,577 | +138328.9% |
| Recurring financial income | 75 | €1 | €1,578 | +€1,577 | +138328.9% |
| Financial charges | 65/66B | €1,591 | €1,356 | -€234 | -14.7% |
| Recurring financial charges | 65 | €1,591 | €1,356 | -€234 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €46,568 | €48,418 | +€1,850 | +4.0% |
| Income taxes | 67/77 | €9,762 | €15,008 | +€5,246 | +53.7% |
| Profit (loss) for the period | 9904 | €36,807 | €33,410 | -€3,396 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,807 | €33,410 | -€3,396 | -9.2% |
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 11 October 2026 via checked.be.