Kouron: 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.
Kouron
Largest movements
- Receivables within one year -€221,529
down €221,529 (-67.9%), from €326,116 to €104,586
of which Other amounts receivable: -€252,877
- Receivables after one year +€131,410
up €131,410 (+69.1%), from €190,250 to €321,660
- Current investments -€117,433
down €117,433 (-18.7%), from €629,210 to €511,777
- Cash +€86,192
up €86,192 (+93.9%), from €91,804 to €177,996
mainly Receivables within one year (+€221,529) and Current investments (+€117,433)
- Other debts -€156,695
down €156,695 (-62.3%), from €251,431 to €94,737
- Tax, wage and social debts +€41,383
up €41,383 (+694.3%), from €5,960 to €47,343
- Gross operating margin -€53,023
down €53,023 (-35.5%), from €149,278 to €96,255
- Financial charges -€20,563
down €20,563, from €7,273 to -€13,290
- Taxes -€10,236
down €10,236 (-25.0%), from €40,967 to €30,732
- Financial income -€6,010
down €6,010 (-17.2%), from €34,965 to €28,955
- Depreciation +€2,354
up €2,354 (+11.9%), from €19,809 to €22,164
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 | €1,329,588 | €1,196,343 | -€133,245 | -10.0% |
| Fixed assets | 21/28 | €81,402 | €69,199 | -€12,203 | -15.0% |
| Tangible fixed assets | 22/27 | €81,402 | €69,199 | -€12,203 | -15.0% |
| Furniture and vehicles | 24 | €48,364 | €38,435 | -€9,930 | -20.5% |
| Other tangible fixed assets | 26 | €33,037 | €30,764 | -€2,274 | -6.9% |
| Current assets | 29/58 | €1,248,186 | €1,127,145 | -€121,042 | -9.7% |
| Amounts receivable after more than one year | 29 | €190,250 | €321,660 | +€131,410 | +69.1% |
| Other amounts receivable | 291 | €190,250 | €321,660 | +€131,410 | +69.1% |
| Amounts receivable within one year | 40/41 | €326,116 | €104,586 | -€221,529 | -67.9% |
| Trade receivables | 40 | €314 | €31,662 | +€31,348 | +9983.1% |
| Other amounts receivable | 41 | €325,802 | €72,924 | -€252,877 | -77.6% |
| Current investments | 50/53 | €629,210 | €511,777 | -€117,433 | -18.7% |
| Cash at bank and in hand | 54/58 | €91,804 | €177,996 | +€86,192 | +93.9% |
| Deferred charges and accrued income | 490/1 | €10,806 | €11,125 | +€319 | +3.0% |
| Total equity and liabilities | 10/49 | €1,329,588 | €1,196,343 | -€133,245 | -10.0% |
| Equity | 10/15 | €1,055,225 | €1,044,622 | -€10,603 | -1.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,042,825 | €1,032,222 | -€10,603 | -1.0% |
| Distributable reserves | 133 | €1,042,825 | €1,032,222 | -€10,603 | -1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €274,363 | €151,721 | -€122,642 | -44.7% |
| Amounts payable within one year | 42/48 | €268,363 | €145,721 | -€122,642 | -45.7% |
| Trade debts | 44 | €10,772 | €3,641 | -€7,131 | -66.2% |
| Suppliers | 440/4 | €10,772 | €3,641 | -€7,131 | -66.2% |
| Advances received on contracts in progress | 46 | €200 | €0 | -€200 | -100.0% |
| Taxes, remuneration and social security | 45 | €5,960 | €47,343 | +€41,383 | +694.3% |
| Taxes | 450/3 | €5,960 | €47,343 | +€41,383 | +694.3% |
| Other amounts payable | 47/48 | €251,431 | €94,737 | -€156,695 | -62.3% |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Non-recurring operating income | 76A | €4,800 | €0 | -€4,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,809 | €22,164 | +€2,354 | +11.9% |
| Other operating charges | 640/8 | €1,670 | €1,471 | -€198 | -11.9% |
| Gross operating margin | 9900 | €149,278 | €96,255 | -€53,023 | -35.5% |
| Operating profit (loss) | 9901 | €127,799 | €72,620 | -€55,178 | -43.2% |
| Financial income | 75/76B | €34,965 | €28,955 | -€6,010 | -17.2% |
| Recurring financial income | 75 | €34,965 | €28,955 | -€6,010 | -17.2% |
| Financial charges | 65/66B | €7,273 | -€13,290 | -€20,563 | |
| Recurring financial charges | 65 | €7,273 | -€13,290 | -€20,563 | |
| Profit (loss) for the period before taxes | 9903 | €155,491 | €114,866 | -€40,625 | -26.1% |
| Income taxes | 67/77 | €40,967 | €30,732 | -€10,236 | -25.0% |
| Profit (loss) for the period | 9904 | €114,524 | €84,134 | -€30,390 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,524 | €84,134 | -€30,390 | -26.5% |
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 5 October 2026 via checked.be.