Koru+: what changed
Two financial 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.
Koru+
Largest movements
- Cash -€73,688
down €73,688 (-62.1%), from €118,749 to €45,061
mainly Contributions, distributions and other (-€51,666) and Trade debts (-€13,995)
- Receivables within one year +€9,550
up €9,550 (+12.1%), from €78,829 to €88,379
of which Trade receivables: +€14,944
- Tangible fixed assets +€9,180
up €9,180 (+33.1%), from €27,742 to €36,921
of which Other tangible fixed assets: +€6,831
- Reserves -€39,558
down €39,558 (-22.8%), from €173,688 to €134,130
- Debts after one year +€14,412
up €14,412 (+104%), from €13,850 to €28,262
- Trade debts -€13,995
down €13,995 (-91.2%), from €15,348 to €1,352
- Tax, wage and social debts -€13,775
down €13,775 (-76.9%), from €17,913 to €4,137
- Gross operating margin -€53,569
down €53,569 (-70.5%), from €75,974 to €22,405
- Taxes -€10,450
down €10,450 (-70.0%), from €14,936 to €4,487
- Depreciation +€3,321
up €3,321 (+268%), from €1,238 to €4,559
- Financial income +€2,190
up €2,190 (+149%), from €1,468 to €3,658
- Other operating charges -€1,727
down €1,727 (-34.1%), from €5,073 to €3,346
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.
Derived cash bridge
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 | €228,393 | €175,016 | -€53,378 | -23.4% |
| Fixed assets | 21/28 | €27,742 | €36,921 | +€9,180 | +33.1% |
| Tangible fixed assets | 22/27 | €27,742 | €36,921 | +€9,180 | +33.1% |
| Plant, machinery and equipment | 23 | €2,128 | €1,584 | -€544 | -25.6% |
| Furniture and vehicles | 24 | €1,012 | €3,905 | +€2,893 | +286% |
| Other tangible fixed assets | 26 | €24,602 | €31,432 | +€6,831 | +27.8% |
| Current assets | 29/58 | €200,652 | €138,095 | -€62,557 | -31.2% |
| Amounts receivable within one year | 40/41 | €78,829 | €88,379 | +€9,550 | +12.1% |
| Trade receivables | 40 | €5,728 | €20,672 | +€14,944 | +261% |
| Other amounts receivable | 41 | €73,101 | €67,707 | -€5,394 | -7.4% |
| Cash at bank and in hand | 54/58 | €118,749 | €45,061 | -€73,688 | -62.1% |
| Deferred charges and accrued income | 490/1 | €3,074 | €4,655 | +€1,581 | +51.4% |
| Total equity and liabilities | 10/49 | €228,393 | €175,016 | -€53,378 | -23.4% |
| Equity | 10/15 | €175,688 | €136,130 | -€39,558 | -22.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €173,688 | €134,130 | -€39,558 | -22.8% |
| Distributable reserves | 133 | €173,688 | €134,130 | -€39,558 | -22.8% |
| Amounts payable | 17/49 | €52,705 | €38,886 | -€13,819 | -26.2% |
| Amounts payable after more than one year | 17 | €13,850 | €28,262 | +€14,412 | +104% |
| Financial debts | 170/4 | €13,850 | €28,262 | +€14,412 | +104% |
| Amounts payable within one year | 42/48 | €37,878 | €10,224 | -€27,654 | -73.0% |
| Current portion of amounts payable after more than one year | 42 | €2,952 | €3,068 | +€116 | +3.9% |
| Trade debts | 44 | €15,348 | €1,352 | -€13,995 | -91.2% |
| Suppliers | 440/4 | €15,348 | €1,352 | -€13,995 | -91.2% |
| Taxes, remuneration and social security | 45 | €17,913 | €4,137 | -€13,775 | -76.9% |
| Taxes | 450/3 | €17,913 | €4,137 | -€13,775 | -76.9% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €976 | €400 | -€577 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,238 | €4,559 | +€3,321 | +268% |
| Other operating charges | 640/8 | €5,073 | €3,346 | -€1,727 | -34.1% |
| Gross operating margin | 9900 | €75,974 | €22,405 | -€53,569 | -70.5% |
| Operating profit (loss) | 9901 | €69,663 | €14,501 | -€55,162 | -79.2% |
| Financial income | 75/76B | €1,468 | €3,658 | +€2,190 | +149% |
| Recurring financial income | 75 | €1,468 | €3,658 | +€2,190 | +149% |
| Financial charges | 65/66B | €646 | €1,564 | +€918 | +142% |
| Recurring financial charges | 65 | €646 | €1,564 | +€918 | +142% |
| Profit (loss) for the period before taxes | 9903 | €70,485 | €16,594 | -€53,890 | -76.5% |
| Income taxes | 67/77 | €14,936 | €4,487 | -€10,450 | -70.0% |
| Profit (loss) for the period | 9904 | €55,548 | €12,108 | -€43,441 | -78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,548 | €12,108 | -€43,441 | -78.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.