Volume: 04 | Number 02 | August 2025 | E-ISSN: 2962-5505 | DOI: doi.
org/10.
47709/governors.
The Effect Of Debt On Residual Business Results Herti Nabu1.
Made Susilawati2.
Dwi Dersmi Selan3* Universitas Persatuan Guru 1945 NTT.
Indonesia dersmi@gmail.
*Corresponding Author
1,2,3
ABSTRACT
The purpose of this study is to determine the extent of the influence of debt on the remaining operating results of the Kopdit Swasti Sari Kupang Savings and Loan Cooperative in 2021-2023.
The method used in this study is descriptive quantitative using simple linear regression analysis The population and sample in this study are all financial statements of debt and SHU of the Swasti Sari Cooperative from 2021-2023.
The data sources in this study use primary and secondary data.
Data collection techniques in this study are interviews, documentation and literature studies.
This research was conducted at the Swasti Sari Kupang Savings and Loan Cooperative using data analysis techniques are financial report data from 2021-2023.
The variables used in this study are Debt (X) and Operating Surplus (Y).
Data processing in this study uses SPSS Version 21.
The results of the study obtained a regression equation Y= 2046383657.
698 ,001 bX, meaning that each factorincrease of one rupiah in total debt (X) will increase the SHU value by 001 rupiah and the value is significant for total debtis 0.
047 which shows that total debt has a significant influence on SHU because the significance value is less than 0.
Keywords: Cooperative.
Debt.
Residual Business.
Saving and Loan.
SHU
INTRODUCTION
Cooperatives, as business entities, focus on improving the welfare of their members through the principles of togetherness and mutual cooperation.
One measure of a cooperative's success is its Operating Surplus (SHU), which is the surplus or net income after deducting all operational costs, liabilities, and reserve allocations as determined by its members.
To achieve this goal, cooperatives often require additional capital to support operations and business expansion.
Debt can have both positive and negative impacts on Net Operating Profit (SHU).
On the one hand, if managed properly, the use of debt can increase business revenue.
However, on the other hand, interest expenses and principal repayment obligations can reduce revenue, potentially reducing SHU.
Therefore, effective debt management is key to maintaining a balance between business growth and cooperative sustainability.
One common source of capital is loans, either from external financial institutions such as banks or from other parties.
While using these loans provides opportunities for cooperatives to expand their business scale, they also carry certain consequences for financial performance, including impacting the Company's operating profit.
According to Law Number 17 of 2012, a cooperative is a legal entity established by a group of individuals with a common goal.
A cooperative can be understood as a group of people who join together voluntarily and independently to meet their social, economic, and cultural needs and aspirations together.
The businesses they manage are collectively owned and democratically A savings and loan cooperative, or savings and loan unit, is a business entity focused on providing credit and raising funds, with characteristics that distinguish it from other financial One of the unique characteristics of a cooperative is its member ownership, where business capital is collected from member contributions and distributed in the form of loans to members in need.
Cooperatives, including KSPs, are required to account for their performance through the Annual Members' Meeting (RAT).
Cooperatives are required to hold an Annual Members' Meeting (RAT) annually to ensure member participation and transparency in financial performance reports.
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Good financial performance is defined as one that effectively manages the cooperative's debts .
to its members.
The following is the debt data of the Kopdit Swasti Sari Kupang Savings and Loan Cooperative for 2021-2023.
Table 1.
Debt of the Swasti Sari Kupang Savings and Loan Cooperative Year Total Debt Value Rp.
28,818,649,861
Rp.
2,777,420,895
Rp32.
Rp.
2,937,279,725
Rp.
35,955,280,272
Rp.
3,561,313,061
Source: Data processed, 2025 Based on the above, the author is interested in studying "The Effect of Debt on the Remaining Operating Results of the Swasti Sari Kupang Savings and Loans CooperativeAy LITERATURE STUDY Definition of Debt Debt is an obligation that must be fulfilled in the future, upon maturity, arising from the acquisition of goods and services on credit (Evan, 2021:.
Meanwhile.
Ely Suhayati and Sri Dewi Anggadini .
explain that liabilities are debts owed by a company to external parties .
, and the term "accounts payable" is usually added to the balance sheet.
Payable.
"On the other hand.
Jumingan .
defines debt as a company's obligation to another party to pay a certain amount of money or deliver goods and services at a certain time.
Based on the repayment period, debt can be divided into short-term debt .
urrent liabilitie.
and long-term debt .
oncurrent Furthermore, according to Hendra .
, debt is defined as a company's current obligations arising from past events, where the settlement is expected to result in an outflow of company resources that have economic benefits.
Mia .
also adds that debt is a company's obligation used to finance various needs, in the form of transactions that carry obligations to be paid to other parties.
Debt Indicator According to Munawir .
, one important indicator in measuring a savings and loan cooperative's debt is the liquidity ratio.
This ratio reflects the cooperative's ability to meet its shortterm obligations.
To calculate the liquidity ratio, a comparison is made between current assets and current liabilities, which is then expressed as a percentage.
Munawir further explained that the formula for calculating debt is as follows:
Debt = Short Term Debt Long Term Debt Definition of Net Operating Surplus (SHU) Definition of Business Surplus, according to Jumaidi .
,is a term used in cooperatives to refer to the net profit obtained after deducting all costs, depreciation, and other obligations including taxes in one financial year.
Simply put.
SHU is the difference between the cooperative's income and all expenses or costs incurred during one financial year.
The difference generated from the cooperative's business activities is referred to as the Operating Surplus (SHU).
This SHU is distributed to members after deducting operating expenses, and the distribution is based on the contributions made by members and the amount of capital invested by each member.
Contributions are measured based on the number of member transactions with the cooperative within a given period and the member's capital balance.
Operating Profit Remainder (SHU) Indicator According to Muljanto .
there are several SHU indicators, namely.
Capital.
Income.
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Calculation of Remaining Business Results (SHU) In Article 45 paragraph .
of Law Number 25 of 2012, the Remaining Business Results (SHU) can be formulated as follows:
SHU = Income- (Costs Preparation Other liabilities Taxe.
Previous Research Previous research is conducted to provide researchers with a reference and comparison for the upcoming research.
Furthermore, prior research is conducted to avoid overlapping with existing research, allowing the author to identify the strengths and weaknesses of previous research.
The following are some previous studies related to the problem the author will be investigating.
No.
Name of research Muhammad Iqbal.
Linda Widiya .
The Effect Total Debt Operating Costs Remaining Operating Results at the Buanan Endah Credit Cooperative in 2010-2016.
The Effect of Capital and Debt Increasing Operating Surplus (SHU) at PKPRI (Center for Indonesian Employees' Cooperative.
in West Sumatra Province.
Ferline Ariesta .
The Influence of Member
Savings and Member
Loans on the Earnings of Surplus Operating Results (SHU) KOPDIT
TIMAU
KUPANG.
Darwin Yopie Kefi, 2015.
Table 2.
Previous Research Research methods Research result Quantitative Total Debt and Operating Costs Influence Descriptive on Remaining Operating Results Method.
The .
cU = yca yca1ycU1 yca2ycU2 U ycaycuycU.
Quantitative The factors that influence the remaining Descriptive business results at PKP-RI West Sumatra Method.
Province are the number of members and The research member savings.
method uses a regression analysis (Y = a b.
Quantitative The number of member savings and the Descriptive number of member loans continues to Method.
The increase from year to year, the number of research method SHU acquisitions has increased but the multiple increasing trend has fluctuated, the linear regression number of savings arrears and loan defaults has increased fluctuatingly, the .
cU = yca yca1ycU1 number of member savings and the yca2ycU2 U number of member loans partially and simultaneously have a significant effect ycaycuycU.
on SHU acquisition and the contribution of the variable number of savings and the number of loans to SHU acquisition is Source: Data Processed, 2025 Previous research serves as a reference for content, allowing researchers to enrich the theories used in analyzing the current research.
This research was conducted by reviewing national and international journals from previous studies.
The author did not find similar titles, but found several journals related to the current research.
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The difference between previous research and the research conducted by the researcher lies in the research location.
The previous research in 2021 used PKPRI (Center for Employee Cooperatives of the Republic of Indonesi.
as the research subject.
Meanwhile, this researcher used the Kopdit Swasti Sari Kupang Savings and Loans Cooperative.
In 2022, the researcher used the Buanan Credit Cooperative as the research subject.
Meanwhile, this researcher used the Kopdit Swasti Sari Kupang Savings and Loans Cooperative.
In 2023, the researcher used the Kopdit Timau Kupang as the research subject.
Meanwhile, this researcher used the Kopdit Swasti Sari Kupang Savings and Loans Cooperative.
The next difference is that the previous research was conducted in 2018, while the current research was conducted in 2025.
The similarity between previous research and the current research is that it uses the regression method, debt and SHU variables, while the difference is that the research uses indicators other than debt, namely indicators (X), namely receivables.
Research Framework According to Sugiyono .
, the framework of thought is a conceptual model of how theory relates to various factors that have been identified as important problems.
From the theoretical study described above, it can be explained thatThe effect of debt on the remaining operating results (SHU) consists of the debt of the Swasti Sari Savings and Loans Cooperative (X) and the remaining operating results of the Swasti Sari Savings and Loans Cooperative (Y).
For further clarity, please see the following framework.
Figure 1.
Framework of thinking Debt of the Swasti Sari Remaining Operating Kupang Savings and Loan ResultSwasti Sari Kupang Cooperative for 2021-2023 Savings and Loan Cooperative 2021-2023 Research Hypothesis This hypothesis refers to the research findings of Agesti .
, which stated that debt (X) has a positive effect on remaining operating results (Y).
Based on these research findings, the researcher formulated the following hypothesis:
Ho = 0, it is assumed that there is no influence of debt on the remaining business results for 20212023.
Ha O 0, it is suspected that there is an influence of debt on the remaining business results for 20212023.
METHOD
According to Sugiyono .
there are 2 types of data, namely qualitative and quantitative The data that will be collected consists of primary data and secondary data.
Primary data is initial interview data taken directly from the debt and SHU of the Swasti Sari Kupang Savings and Loans Cooperative.
Secondary data is data obtained or collected by researchers from data debt and SHU of the Swasti Sari Kupang Savings and Loans Cooperative.
Data collection techniques are done by: Interview.
Documentation.
Literature study.
The regression analysis technique was chosen in this study because the simple regression analysis technique can directly draw conclusions regarding one dependent variable (Y) and one independent variable (X).
The simple linear regression analysis equation formula is: (Y = a bX) RESULTS AND DISCUSSION
RESEARCH RESULT
Financial Report Data of the Swasti Sari Kupang Savings and Loan Cooperative for 20212023 Balance Sheet This is an Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.
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The balance sheet is used to determine the financial position of the cooperative.
The following is the Balance Sheet Data of the Kopdit Swasti Sari Kupang Savings and Loan Cooperative for 2021-2023:
Table 3.
Balance Sheet of the Swasti Sari Kupang Savings and Loan Cooperative (R.
No.
Estimated Name
31/12/2021
31/12/2022
31/12/2023
Prk
Assets 10 Current assets 100 Cash and cash equivalents 101 Member Receivables 102 Preparation of Printed Materials and Stamps 103 Prepaid expenses 104 Allowance for doubtful 107 L/K 109 Savings on puskopdit
Total current assets Non-current assets 110 Participation 111 Fixed assets Cost of acquisition of fixed Accumulated depreciation of fixed assets 112 Other other assets Total non-current assets TOTAL ASSETS
LIABILITIES AND EQUITY
20 Short-term liabilities 200 Member savings 201 Dana SHU 202 YMH's burden is paid 204 Tax payable 205 Party debt 111 209 Deposit Total Short-Term Liabilities Long-term liabilities R/K passive Amount of liabilities Equity 300 Tree savings 301 Mandatory deposit 32 Reserved fund This is an Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.
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SHU Withheld SHU Current Year Office construction funds Amount of equity TOTAL LIABILITIES AND EQUITY Based on the financial report table above, it can be seen that debt has increased significantly each year.
In 2021, debt amounted to Rp.
829,654,103,100.
In 2022, the debt obtained amounted to Rp 881,652,218,074.
Meanwhile, in 2023, the debt increased by Rp 942,557,161,575.
Remaining Profits of the Swasti Sari Kupang Savings and Loan Cooperative for 2021-2023:
Net Operating Profit is a term used in cooperatives to refer to the net profit earned after deducting all costs, depreciation, and other liabilities, including taxes, for a fiscal year.
The following is a report on the Net Operating Profit of the Kopdit Swasti Sari Kupang Savings and Loan Cooperative.
from 2021-2023:
Table 4.
Data on the remaining business results Savings and Loan Cooperative No.
31/12/2021
31/12/2022
31/12/2023
Estimated Name Prk (In Rupia.
(In Rupia.
(In Rupia.
INCOME Business Deposit 400 Loan Services 401 Loan Administration Income outside of Business Total Income Burden Operating expenses 500 Member Savings Service Charges 501 Puskopdit Debt Interest Burden 502 Organizational Burden 503 Personnel Management Burden 504 Administrative and General Expenses 505 Depreciation Expense and Fixed Assets Expenses outside of Business Total Load SHU Before Tax income tax SHU After Tax Source: KSP Kopdit Swasti Sari Kupang, 2025 Based on Table 4 above, it can be seen that the total revenue in 2021-2023 was Rp 100,553,130,687.
In 2022, the total revenue increased to Rp114.
and in 2023 the total income was Rp.
114,259,048,817, while the total expenses in 2021 were97,238,041,672.
In 2022, the total burden was 97,238,041,672.
And in 2023, the total burden was 110,763,797,187.
The remaining operating results obtained after deducting all costs and expenses and taxes.
2021, the SHU obtained was Rp 3,315,089,015, which was obtained from the total income of Rp This is an Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.
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100,553,130,687 minus the total expenses of Rp 97,238,041,672, so that it was reduced by income tax, the calculation of SHU after tax was Rp 2,777,420,895 for 2022, the calculation was the same, so that in 2022 the SHU obtained was Rp 2,937,279,725 and in 2023 it was Rp 3,561,313,061.
Normality Test Normality test used to examine the variables being studied to determine whether the data is normally distributed or not.
The results of the normality test can be seen in the following table:
Table 5.
Normality test Tests of Normality Shapiro-Wilk Statistic Say.
Total Debt
,999
,927
Total_SHU ,979 ,725 Lilliefors Significance Correction Source: Data Processed, 2025 Based on the results of table 5 above, it is known that the results of the normality analysis obtained a normal variable .
>0.
From the table above, it can be seen that the significance level value of total debt is 0.
927 and the significance level value of SHU is 0.
Therefore, it can be concluded that the total debt and SHU data are normally distributed.
If the significance value is greater than 0.
05, the data is assumed to be normally distributed.
Simple Linear Regression Test The analysis technique used to determine the influence between the dependent variable, net operating income (Y), and the independent variable, debt (X), in this case the researcher used net operating income after tax.
The results of the simple linear regression test can be seen in the following table:
Table 6.
Simple Linear Regression Test Results Coefficients Model Unstandardized Coefficients Standardized Coefficients Prob Std.
Error Beta 1 (Constan.
2046383657,698 86972173,062 23,529 ,027 Total Debt
,001
,000
,994 9,432
,047
Dependent Variable: Total_SHU Source: Data Processed, 2025 Based on the results of table 6 above, it is known that the constant value .
698 and the correlation coefficient value of total debt .
WithThus, the simple linear regression equation model resulting from the analysis above is:
Y=a bX Y= 2046383657.
From the equation above, it can be seen that the positive value of b indicates that the influence of debt (X) on the remaining operating results (Y) is in the same direction.
This means that every kenincrease of one rupiah in total debt (X) will increase the SHU value by 0.
001 rupiah and the value is significant for total debtis 0.
047 which shows that total debt has a significant influence on SHU because the significance value is less than 0.
t-test The t-test is used to determine the effect of the independent variable, debt, on the dependent variable.
Remaining Operating Result.
The results of the significant test .
-tes.
can be seen in the table.
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Table 7.
t-Test Coefficients Model Unstandardized Coefficients Standardized Coefficients Prob.
Std.
Error Beta 1 (Constan.
2046383657,698 86972173,062 23,529 ,027 Total Debt
,001
,000
,994
9,432
,047
Dependent Variable: Total_SHU Source: Data Processed, 2025 Based on table 7 it can be seen that t as big as23,529 while t at a significance level of 2.
f = .
then it can be concluded that t > t that is 23,529>6,314 This means that there is no influence between the debt variable and the remaining operating results.
Therefore, the initial hypothesis (H.
: it is suspected that there is no influence of debt on the remaining operating results, is accepted.
(H.
: it is suspected that there is an influence of debt on the remaining operating results, is rejected.
Test of the Coefficient of Determination r2 According to Ghozali .
IfRA = 0.
85, for 85% of variable Y can be explained by X, while the remainder .
%) is influenced by other variables outside the model.
r determination test In this study, the R square was used as the basis, the results of this study are shown in the following table:
Table 8.
Coefficient of Determination Test Model Summary Model R Square Adjusted R Square Std.
Error of the Estimate Predictors: (Constan.
Total_Hutang Source: Data Processed, 2025 Based on the results of table 8 above, the value is knownR Square of 0.
989 means that the debt variable has a positive effect (X) on the remaining operating results (Y) of 98.
The remaining .
% - 98.
9% = 1.
1%) other variables were not examined in this study.
Discussion This study examines the effect of total debt on the Remaining Operating Results (Sisa Hasil Usaha/SHU) of the Swasti Sari Kupang Savings and Loan Cooperative during the 2021Ae2023 Based on the descriptive analysis of financial statements, it is evident that the cooperative experienced a consistent increase in total liabilities over the three-year period.
Total debt rose from Rp 829.
65 billion in 2021 to Rp 942.
56 billion in 2023, indicating a growing reliance on external and member-based funding to support operational and lending activities.
At the same time.
SHU also showed an increasing trend, particularly in 2023, where SHU after tax reached Rp 3.
56 billion.
This condition suggests that the cooperative was able to utilize its increasing debt to generate income, mainly through loan services, which constitute the largest portion of total revenue.
This finding aligns with the concept of productive debt, where liabilities are used to expand operational capacity and increase income-generating activities.
The normality test using the ShapiroAeWilk method confirms that both total debt and SHU variables are normally distributed, as indicated by significance values greater than 0.
This result fulfills the classical assumption required for further parametric analysis, particularly simple linear The regression analysis reveals a positive regression coefficient ( = 0.
, indicating that debt has a positive directional relationship with SHU.
In other words, an increase in total debt tends to be followed by an increase in the cooperativeAos remaining operating results.
The significance value of 0.
047 (< 0.
indicates that statistically, total debt has a significant influence on SHU.
Furthermore, the coefficient of determination (RA) of 0.
989 implies 9% of the variation in SHU can be explained by changes in total debt.
This exceptionally This is an Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.
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high RA suggests a very strong relationship between the two variables, although it should be interpreted cautiously due to the limited number of observations .
hree year.
However, an inconsistency emerges in the interpretation of the t-test results.
While the statistical output shows that tcount is greater than ttable and the significance value is below 0.
05, which statistically indicates a significant effect, the study concludes that there is no influence of debt on SHU and accepts the null hypothesis (H.
From a statistical perspective, this interpretation is not fully Based on hypothesis testing principles, when tcount > ttable and Sig.
< 0.
05, the alternative hypothesis (H.
should be accepted, meaning that debt does have a significant effect on SHU.
Substantively, the findings suggest that debt plays a crucial role in supporting the cooperativeAos operational performance, especially in financing lending activities that generate interest income.
Nevertheless, the dominance of debt in explaining SHU also implies that other important factors, such as sales stability, asset structure, profitability, company growth, taxation, and managerial control,were not captured in this model.
These factors may also significantly influence SHU and should be considered in future research to avoid model overestimation and provide a more comprehensive understanding of cooperative financial performance.
CONCLUSION
Based on the results of the analysis, it can be concluded that the Swasti Sari Kupang Savings and Loan Cooperative experienced an increase in both total debt and Remaining Operating Results (SHU) during the 2021Ae2023 period.
The increasing level of debt indicates that the cooperative relies heavily on liabilities, particularly member savings and deposits, to finance its operational At the same time, the growth in SHU suggests that the cooperative has been able to utilize this debt productively to generate income.
The results of the simple linear regression analysis show that total debt has a positive and statistically significant effect on SHU.
This indicates that higher debt levels are associated with higher remaining operating results, reflecting the role of debt as a financial leverage instrument in cooperative operations.
The coefficient of determination reveals that debt explains 98.
9% of the variation in SHU, highlighting the strong relationship between the two variables within the observed period.
However, the study is limited by the small number of observations and the use of a single independent variable.
Therefore, future research is recommended to include additional variables such as profitability ratios, asset structure, sales stability, managerial efficiency, and growth indicators, as well as longer observation periods, to obtain more robust and comprehensive results.
References