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
- Cash -€5,078
down €5,078 (-82.6%), from €6,150 to €1,072
mainly Trade debts (-€8,212) and Tax, wage and social debts (-€6,941)
- Tangible fixed assets +€4,845
up €4,845 (+55.1%), from €8,794 to €13,639
of which Furniture and vehicles: +€4,076
- Receivables within one year +€3,306
up €3,306 (+6.9%), from €48,144 to €51,450
of which Trade receivables: +€17,772
- Advances received +€20,600
new in 2024: €20,600
- Trade debts -€8,212
down €8,212 (-35.6%), from €23,077 to €14,866
- Tax, wage and social debts -€6,941
down €6,941 (-98.0%), from €7,081 to €140
of which Taxes: -€6,137
- Profit (loss) carried forward -€2,561
down €2,561 (-17.7%), from €14,462 to €11,901
- Staff costs +€5,535
up €5,535 (+44.2%), from €12,522 to €18,057
- Gross operating margin +€1,375
up €1,375 (+8.8%), from €15,705 to €17,080
- Other operating charges -€1,011
down €1,011 (-22.6%), from €4,481 to €3,469
- Depreciation -€230
no longer reported in 2024 (was €230)
- Financial charges -€180
down €180 (-33.9%), from €530 to €350
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 | €65,080 | €67,967 | +€2,887 | +4.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €8,819 | €13,664 | +€4,845 | +54.9% |
| Tangible fixed assets | 22/27 | €8,794 | €13,639 | +€4,845 | +55.1% |
| Plant, machinery and equipment | 23 | €1,265 | €2,034 | +€769 | +60.8% |
| Furniture and vehicles | 24 | €1,620 | €5,696 | +€4,076 | +251.6% |
| Other tangible fixed assets | 26 | €5,910 | €5,910 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €56,261 | €54,302 | -€1,958 | -3.5% |
| Stocks and contracts in progress | 3 | €1,967 | €1,780 | -€187 | -9.5% |
| Stocks | 30/36 | €1,967 | €1,780 | -€187 | -9.5% |
| Amounts receivable within one year | 40/41 | €48,144 | €51,450 | +€3,306 | +6.9% |
| Trade receivables | 40 | €1,662 | €19,434 | +€17,772 | +1069.5% |
| Other amounts receivable | 41 | €46,482 | €32,016 | -€14,466 | -31.1% |
| Cash at bank and in hand | 54/58 | €6,150 | €1,072 | -€5,078 | -82.6% |
| Total equity and liabilities | 10/49 | €65,080 | €67,967 | +€2,887 | +4.4% |
| Equity | 10/15 | €34,922 | €32,361 | -€2,561 | -7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €14,462 | €11,901 | -€2,561 | -17.7% |
| Amounts payable | 17/49 | €30,159 | €35,606 | +€5,447 | +18.1% |
| Amounts payable within one year | 42/48 | €30,159 | €35,606 | +€5,447 | +18.1% |
| Trade debts | 44 | €23,077 | €14,866 | -€8,212 | -35.6% |
| Suppliers | 440/4 | €23,077 | €14,866 | -€8,212 | -35.6% |
| Advances received on contracts in progress | 46 | - | €20,600 | +€20,600 | |
| Taxes, remuneration and social security | 45 | €7,081 | €140 | -€6,941 | -98.0% |
| Taxes | 450/3 | €6,161 | €24 | -€6,137 | -99.6% |
| Remuneration and social security | 454/9 | €920 | €116 | -€804 | -87.4% |
| Remuneration, social security and pensions | 62 | €12,522 | €18,057 | +€5,535 | +44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230 | - | -€230 | |
| Other operating charges | 640/8 | €4,481 | €3,469 | -€1,011 | -22.6% |
| Gross operating margin | 9900 | €15,705 | €17,080 | +€1,375 | +8.8% |
| Operating profit (loss) | 9901 | -€1,528 | -€4,447 | -€2,919 | -191.0% |
| Financial income | 75/76B | €2,180 | €2,236 | +€56 | +2.6% |
| Recurring financial income | 75 | €2,180 | €2,236 | +€56 | +2.6% |
| Financial charges | 65/66B | €530 | €350 | -€180 | -33.9% |
| Recurring financial charges | 65 | €530 | €350 | -€180 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €122 | -€2,561 | -€2,683 | |
| Profit (loss) for the period | 9904 | €122 | -€2,561 | -€2,683 | |
| Profit (loss) for the period to be appropriated | 9905 | €122 | -€2,561 | -€2,683 |
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 4 October 2026 via checked.be.