KORAY: 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.
KORAY
Largest movements
- Receivables within one year +€97,451
up €97,451 (+204.3%), from €47,696 to €145,147
of which Trade receivables: +€80,041
- Cash +€70,829
up €70,829 (+92.0%), from €76,971 to €147,800
mainly Other debts (+€108,792) and Trade debts (+€16,933)
- Stocks and contracts -€15,473
down €15,473 (-29.3%), from €52,879 to €37,406
- Other debts +€108,792
new in 2024: €108,792
- Trade debts +€16,933
up €16,933 (+28.7%), from €59,005 to €75,937
- Current portion of long-term debt +€14,800
new in 2024: €14,800
- Debts after one year +€12,790
new in 2024: €12,790
- Gross operating margin -€41,290
down €41,290 (-94.2%), from €43,846 to €2,556
- Taxes -€11,694
down €11,694 (-99.1%), from €11,795 to €101
- Financial charges +€1,934
up €1,934 (+103.9%), from €1,861 to €3,795
- Depreciation -€1,173
down €1,173 (-41.0%), from €2,861 to €1,689
- Other operating charges -€638
down €638 (-57.4%), from €1,112 to €473
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,540 | €361,294 | +€151,753 | +72.4% |
| Fixed assets | 21/28 | €31,745 | €30,940 | -€805 | -2.5% |
| Tangible fixed assets | 22/27 | €2,322 | €1,518 | -€805 | -34.7% |
| Plant, machinery and equipment | 23 | - | €883 | +€883 | |
| Furniture and vehicles | 24 | €2,322 | €634 | -€1,688 | -72.7% |
| Financial fixed assets | 28 | €29,423 | €29,423 | = | 0.0% |
| Current assets | 29/58 | €177,795 | €330,353 | +€152,558 | +85.8% |
| Stocks and contracts in progress | 3 | €52,879 | €37,406 | -€15,473 | -29.3% |
| Stocks | 30/36 | €52,879 | €37,406 | -€15,473 | -29.3% |
| Amounts receivable within one year | 40/41 | €47,696 | €145,147 | +€97,451 | +204.3% |
| Trade receivables | 40 | €29,867 | €109,908 | +€80,041 | +268.0% |
| Other amounts receivable | 41 | €17,829 | €35,239 | +€17,410 | +97.7% |
| Cash at bank and in hand | 54/58 | €76,971 | €147,800 | +€70,829 | +92.0% |
| Deferred charges and accrued income | 490/1 | €249 | - | -€249 | |
| Total equity and liabilities | 10/49 | €209,540 | €361,294 | +€151,753 | +72.4% |
| Equity | 10/15 | €137,740 | €134,388 | -€3,352 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,860 | €31,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,280 | €83,928 | -€3,352 | -3.8% |
| Amounts payable | 17/49 | €71,801 | €226,906 | +€155,105 | +216.0% |
| Amounts payable after more than one year | 17 | - | €12,790 | +€12,790 | |
| Financial debts | 170/4 | - | €12,790 | +€12,790 | |
| Amounts payable within one year | 42/48 | €71,753 | €212,040 | +€140,286 | +195.5% |
| Current portion of amounts payable after more than one year | 42 | - | €14,800 | +€14,800 | |
| Financial debts | 43 | €217 | €215 | -€2 | -1.0% |
| Credit institutions | 430/8 | €217 | €215 | -€2 | -1.0% |
| Trade debts | 44 | €59,005 | €75,937 | +€16,933 | +28.7% |
| Suppliers | 440/4 | €59,005 | €75,937 | +€16,933 | +28.7% |
| Taxes, remuneration and social security | 45 | €12,532 | €12,295 | -€236 | -1.9% |
| Taxes | 450/3 | €12,532 | €12,295 | -€236 | -1.9% |
| Other amounts payable | 47/48 | - | €108,792 | +€108,792 | |
| Accrued charges and deferred income | 492/3 | €47 | €2,077 | +€2,029 | +4284.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,861 | €1,689 | -€1,173 | -41.0% |
| Other operating charges | 640/8 | €1,112 | €473 | -€638 | -57.4% |
| Gross operating margin | 9900 | €43,846 | €2,556 | -€41,290 | -94.2% |
| Operating profit (loss) | 9901 | €39,872 | €394 | -€39,479 | -99.0% |
| Financial income | 75/76B | €250 | €151 | -€99 | -39.7% |
| Recurring financial income | 75 | €250 | €151 | -€99 | -39.7% |
| Financial charges | 65/66B | €1,861 | €3,795 | +€1,934 | +103.9% |
| Recurring financial charges | 65 | €1,861 | €3,795 | +€1,934 | +103.9% |
| Profit (loss) for the period before taxes | 9903 | €38,261 | -€3,251 | -€41,512 | |
| Income taxes | 67/77 | €11,795 | €101 | -€11,694 | -99.1% |
| Profit (loss) for the period | 9904 | €26,467 | -€3,352 | -€29,819 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,467 | -€3,352 | -€29,819 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.