KOR Advisory: 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.
KOR Advisory
Largest movements
- Receivables within one year -€46,775
down €46,775 (-34.0%), from €137,760 to €90,985
of which Trade receivables: -€55,469
- Cash -€31,970
down €31,970 (-45.8%), from €69,804 to €37,834
mainly Tax, wage and social debts (-€37,745) and Net result for the year (-€35,216)
- Intangible fixed assets -€22,961
down €22,961 (-86.4%), from €26,587 to €3,626
- Tax, wage and social debts -€37,745
down €37,745 (-59.4%), from €63,596 to €25,851
of which Remuneration and social security: -€30,910
- Profit (loss) carried forward -€35,080
down €35,080 (-47.4%), from €74,038 to €38,958
- Trade debts -€27,179
down €27,179 (-24.8%), from €109,780 to €82,602
- Gross operating margin -€96,098
down €96,098 (-42.9%), from €224,250 to €128,152
- Staff costs -€48,278
down €48,278 (-27.4%), from €175,901 to €127,624
- Taxes -€6,265
down €6,265, from €5,724 to -€541
- Depreciation +€2,380
up €2,380 (+7.6%), from €31,395 to €33,775
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 | €265,404 | €163,463 | -€101,941 | -38.4% |
| Fixed assets | 21/28 | €42,531 | €21,256 | -€21,275 | -50.0% |
| Intangible fixed assets | 21 | €26,587 | €3,626 | -€22,961 | -86.4% |
| Tangible fixed assets | 22/27 | €14,100 | €13,985 | -€114 | -0.8% |
| Furniture and vehicles | 24 | €14,100 | €12,398 | -€1,702 | -12.1% |
| Other tangible fixed assets | 26 | - | €1,587 | +€1,587 | |
| Financial fixed assets | 28 | €1,845 | €3,645 | +€1,800 | +97.6% |
| Current assets | 29/58 | €222,873 | €142,207 | -€80,666 | -36.2% |
| Amounts receivable within one year | 40/41 | €137,760 | €90,985 | -€46,775 | -34.0% |
| Trade receivables | 40 | €137,611 | €82,141 | -€55,469 | -40.3% |
| Other amounts receivable | 41 | €149 | €8,844 | +€8,695 | +5830.3% |
| Cash at bank and in hand | 54/58 | €69,804 | €37,834 | -€31,970 | -45.8% |
| Deferred charges and accrued income | 490/1 | €15,309 | €13,388 | -€1,921 | -12.5% |
| Total equity and liabilities | 10/49 | €265,404 | €163,463 | -€101,941 | -38.4% |
| Equity | 10/15 | €86,038 | €50,958 | -€35,080 | -40.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,038 | €38,958 | -€35,080 | -47.4% |
| Amounts payable | 17/49 | €179,366 | €112,505 | -€66,862 | -37.3% |
| Amounts payable within one year | 42/48 | €173,928 | €109,005 | -€64,924 | -37.3% |
| Trade debts | 44 | €109,780 | €82,602 | -€27,179 | -24.8% |
| Suppliers | 440/4 | €109,780 | €82,602 | -€27,179 | -24.8% |
| Taxes, remuneration and social security | 45 | €63,596 | €25,851 | -€37,745 | -59.4% |
| Taxes | 450/3 | €20,154 | €13,319 | -€6,834 | -33.9% |
| Remuneration and social security | 454/9 | €43,443 | €12,532 | -€30,910 | -71.2% |
| Other amounts payable | 47/48 | €552 | €552 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,438 | €3,500 | -€1,938 | -35.6% |
| Remuneration, social security and pensions | 62 | €175,901 | €127,624 | -€48,278 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,395 | €33,775 | +€2,380 | +7.6% |
| Other operating charges | 640/8 | €628 | €1,979 | +€1,350 | +214.9% |
| Gross operating margin | 9900 | €224,250 | €128,152 | -€96,098 | -42.9% |
| Operating profit (loss) | 9901 | €16,326 | -€35,225 | -€51,551 | |
| Financial income | 75/76B | €80 | €164 | +€85 | +106.3% |
| Recurring financial income | 75 | €80 | €164 | +€85 | +106.3% |
| Financial charges | 65/66B | €74 | €696 | +€623 | +842.3% |
| Recurring financial charges | 65 | €74 | €696 | +€623 | +842.3% |
| Profit (loss) for the period before taxes | 9903 | €16,331 | -€35,757 | -€52,089 | |
| Income taxes | 67/77 | €5,724 | -€541 | -€6,265 | |
| Profit (loss) for the period | 9904 | €10,607 | -€35,216 | -€45,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,607 | -€35,216 | -€45,824 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.