Koren: 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.
Koren
Largest movements
- Stocks and contracts +€57,495
up €57,495 (+44.6%), from €128,945 to €186,440
- Cash -€17,762
down €17,762 (-99.3%), from €17,896 to €134
mainly Stocks and contracts (-€57,495) and Net result for the year (-€27,402)
- Other debts +€67,420
up €67,420 (+25732.8%), from €262 to €67,682
- Profit (loss) carried forward -€27,402
down €27,402 (-5.1%), from -€538,070 to -€565,472
- Accrued charges and deferred income -€6,500
down €6,500 (-48.1%), from €13,500 to €7,000
- Trade debts +€4,547
new in 2025: €4,547
- Gross operating margin +€3,592
up €3,592 (+11.9%), from -€30,147 to -€26,555
- Other operating charges -€477
down €477 (-40.4%), from €1,180 to €703
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 | €260,692 | €298,757 | +€38,065 | +14.6% |
| Current assets | 29/58 | €260,692 | €298,757 | +€38,065 | +14.6% |
| Stocks and contracts in progress | 3 | €128,945 | €186,440 | +€57,495 | +44.6% |
| Stocks | 30/36 | €128,945 | €186,440 | +€57,495 | +44.6% |
| Amounts receivable within one year | 40/41 | €113,851 | €112,183 | -€1,668 | -1.5% |
| Trade receivables | 40 | €111,195 | €102,988 | -€8,207 | -7.4% |
| Other amounts receivable | 41 | €2,656 | €9,195 | +€6,539 | +246.2% |
| Cash at bank and in hand | 54/58 | €17,896 | €134 | -€17,762 | -99.3% |
| Total equity and liabilities | 10/49 | €260,692 | €298,757 | +€38,065 | +14.6% |
| Equity | 10/15 | €246,930 | €219,528 | -€27,402 | -11.1% |
| Contributions | 10/11 | €763,000 | €763,000 | = | 0.0% |
| Capital | 10 | €763,000 | €763,000 | = | 0.0% |
| Issued capital | 100 | €763,000 | €763,000 | = | 0.0% |
| Reserves | 13 | €22,000 | €22,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,000 | €22,000 | = | 0.0% |
| Legal reserve | 130 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€538,070 | -€565,472 | -€27,402 | -5.1% |
| Amounts payable | 17/49 | €13,762 | €79,229 | +€65,467 | +475.7% |
| Amounts payable within one year | 42/48 | €262 | €72,229 | +€71,967 | +27468.3% |
| Trade debts | 44 | - | €4,547 | +€4,547 | |
| Suppliers | 440/4 | - | €4,547 | +€4,547 | |
| Other amounts payable | 47/48 | €262 | €67,682 | +€67,420 | +25732.8% |
| Accrued charges and deferred income | 492/3 | €13,500 | €7,000 | -€6,500 | -48.1% |
| Other operating charges | 640/8 | €1,180 | €703 | -€477 | -40.4% |
| Non-recurring operating charges | 66A | - | €1 | +€1 | |
| Gross operating margin | 9900 | -€30,147 | -€26,555 | +€3,592 | +11.9% |
| Operating profit (loss) | 9901 | -€31,327 | -€27,259 | +€4,068 | +13.0% |
| Financial charges | 65/66B | €69 | €143 | +€74 | +107.2% |
| Recurring financial charges | 65 | €69 | €143 | +€74 | +107.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,396 | -€27,402 | +€3,994 | +12.7% |
| Profit (loss) for the period | 9904 | -€31,396 | -€27,402 | +€3,994 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,396 | -€27,402 | +€3,994 | +12.7% |
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.