KURUMAN
ActiveSummary
KURUMAN has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €124,548 and a net result of €12,519. Equity is shrinking by about 6% per year across the filed financial years. Its solvency ranks better than 37% of 642 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, abbreviated format
In the rankings
#5 company by total assets in Ranst, Arts, sports and recreation sector#9 oldest company in Ranst, Arts, sports and recreation sector
Turnover
≈ €110,000
Estimated: probably between €51,000 and €240,000
Total assets
€430,307▲ 31.7%
2024 · €326,818
Net result
€12,519▲ 16×
2024 · €790
Working capital
-€140,840▼ 4.5%
2024 · -€134,771
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 161% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€16,449
2025
Net result€12,519
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€430,307
2025
Equity€124,548
2025
Debt€305,760
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€140,840
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency28.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.48
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0.2
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€60,743-€39,014▼ 35.8%-€7,373-€22,093▼ 200%-€1,134▲ 94.9%€6,303€16,449▲ 161%
Net result€29,847-€23,784within the sector's middle half▼ 20.3%-€19,285below the sector's middle half-€32,954below the sector's middle half▼ 70.9%-€7,513below the sector's middle half▲ 77.2%€790within the sector's middle half€12,519within the sector's middle half▲ 16×
Equity€148,806-€171,790within the sector's middle half▲ 15.4%€152,506within the sector's middle half▼ 11.2%€118,751within the sector's middle half▼ 22.1%€111,239within the sector's middle half▼ 6.3%€112,029within the sector's middle half▲ 0.7%€124,548within the sector's middle half▲ 11.2%
Total assets€583,537-€551,596within the sector's middle half▼ 5.5%€516,149within the sector's middle half▼ 6.4%€456,408within the sector's middle half▼ 11.6%€447,104within the sector's middle half▼ 2.0%€326,818within the sector's middle half▼ 26.9%€430,307within the sector's middle half▲ 31.7%
Debt€434,731-€379,806▼ 12.6%€363,643▼ 4.3%€337,657▼ 7.1%€335,866▼ 0.5%€214,789▼ 36.0%€305,760▲ 42.4%
Working capital-€6,001--€20,485below the sector's middle half▼ 241%-€42,583below the sector's middle half▼ 108%-€96,214below the sector's middle half▼ 126%-€120,229below the sector's middle half▼ 25.0%-€134,771below the sector's middle half▼ 12.1%-€140,840below the sector's middle half▼ 4.5%
Solvency25.5%-31.1%within the sector's middle half▲ 5.6pp29.5%within the sector's middle half▼ 1.6pp26.0%within the sector's middle half▼ 3.5pp24.9%within the sector's middle half▼ 1.1pp34.3%within the sector's middle half▲ 9.4pp28.9%within the sector's middle half▼ 5.3pp
Current ratio0.98-0.90below the sector's middle half▼ 0.080.80below the sector's middle half▼ 0.100.57below the sector's middle half▼ 0.230.52below the sector's middle half▼ 0.050.16below the sector's middle half▼ 0.360.48below the sector's middle half▲ 0.32
Return on assets (ROA)5.1%-4.3%within the sector's middle half▼ 0.8pp-3.7%within the sector's middle half▼ 8.0pp-7.2%below the sector's middle half▼ 3.5pp-1.7%below the sector's middle half▲ 5.5pp0.2%within the sector's middle half▲ 1.9pp2.9%within the sector's middle half▲ 2.7pp
Staff (FTE)0.1below the sector's middle half0.2below the sector's middle half▲ 100%
above
within
below
the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €430,307
Fixed assets
€301,294 ▼ 0.1%
Current assets
€129,013 ▲ 414%
Equity and liabilities €430,307
Equity
€124,548 ▲ 11.2%
Debt
€305,760 ▲ 42.4%
Debt's share of the balance-sheet total rises from 65.7% to 71.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,883▼
2024 · €20,537
Cash flow
€12,953▼
2024 · €15,024
Debt to equity
2.45▲
2024 · 1.92
ROE
10.1%▲
2024 · 0.7%
Interest coverage
4.30▲
2024 · 3.73
Debt ≤ 1 year
€269,853▲
2024 · €159,860
Debt > 1 year
€35,907▼
2024 · €54,929
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €5,914 | -€143 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,073 | €15,784 | €15,784 | €15,151 | €14,089 | €14,234 | €434 | ▼ 97.0% |
| Other operating charges640/8 | - | - | - | €496 | €482 | €393 | €997 | ▲ 154% |
| Gross operating margin9900 | €62,250 | €55,163 | €10,490 | -€532 | €13,294 | €20,930 | €17,880 | ▼ 14.6% |
| Operating profit (loss)9901 | €60,743 | €39,014 | -€7,373 | -€22,093 | -€1,134 | €6,303 | €16,449 | ▲ 161% |
| Financial income75/76B | - | - | - | €0 | €1 | - | €0 | - |
| Recurring financial income75 | €736 | €9 | €1 | €0 | €1 | - | €0 | - |
| Financial charges65/66B | - | - | - | €7,931 | €6,379 | €5,513 | €3,930 | ▼ 28.7% |
| Recurring financial charges65 | €9,017 | €8,729 | €11,913 | €7,931 | €6,379 | €5,513 | €3,930 | ▼ 28.7% |
| Profit (loss) for the period before taxes9903 | €52,463 | €30,295 | -€19,285 | -€30,024 | -€7,513 | €790 | €12,519 | ▲ 16× |
| Income taxes67/77 | €22,616 | €6,511 | - | €2,930 | - | - | - | - |
| Profit (loss) for the period9904 | €29,847 | €23,784 | -€19,285 | -€32,954 | -€7,513 | €790 | €12,519 | ▲ 16× |
| Profit (loss) for the period to be appropriated9905 | €29,847 | €23,784 | -€19,285 | -€32,954 | -€7,513 | €790 | €12,519 | ▲ 16× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €583,537 | €551,596 | €516,149 | €456,408 | €447,104 | €326,818 | €430,307 | ▲ 31.7% |
| Fixed assets21/28 | €302,389 | €358,816 | €343,032 | €327,881 | €315,962 | €301,728 | €301,294 | ▼ 0.1% |
| Tangible fixed assets22/27 | €2,389 | €58,816 | €43,032 | €27,881 | €15,962 | €1,728 | €1,294 | ▼ 25.1% |
| Furniture and vehicles24 | - | - | - | €27,881 | €15,962 | €1,728 | €1,294 | ▼ 25.1% |
| Financial fixed assets28 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Current assets29/58 | €281,148 | €192,781 | €173,117 | €128,527 | €131,143 | €25,090 | €129,013 | ▲ 414% |
| Amounts receivable within one year40/41 | €262,018 | €185,084 | €131,429 | €121,169 | €123,212 | €15,981 | €121,814 | ▲ 662% |
| Trade receivables40 | - | - | - | €120,782 | €123,212 | €15,981 | €121,474 | ▲ 660% |
| Other amounts receivable41 | - | - | - | €387 | - | - | €339 | - |
| Cash at bank and in hand54/58 | €18,294 | €6,565 | €39,871 | €4,740 | €6,130 | €6,850 | €3,813 | ▼ 44.3% |
| Deferred charges and accrued income490/1 | - | - | - | €2,618 | €1,801 | €2,259 | €3,387 | ▲ 49.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €583,537 | €551,596 | €516,149 | €456,408 | €447,104 | €326,818 | €430,307 | ▲ 31.7% |
| Equity10/15 | €148,806 | €171,790 | €152,506 | €118,751 | €111,239 | €112,029 | €124,548 | ▲ 11.2% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €31,707 | €31,707 | €31,707 | €31,707 | €31,707 | €31,707 | €31,707 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €29,847 | €29,847 | €31,707 | €31,707 | = |
| Profit (loss) carried forward14 | €110,900 | €133,883 | €114,599 | €80,845 | €73,332 | €74,122 | €86,641 | ▲ 16.9% |
| Amounts payable17/49 | €434,731 | €379,806 | €363,643 | €337,657 | €335,866 | €214,789 | €305,760 | ▲ 42.4% |
| Amounts payable after more than one year17 | €135,845 | €166,541 | €140,247 | €112,916 | €84,494 | €54,929 | €35,907 | ▼ 34.6% |
| Financial debts170/4 | - | - | - | €112,916 | €84,494 | €54,929 | €35,907 | ▼ 34.6% |
| Amounts payable within one year42/48 | €287,149 | €213,265 | €215,700 | €224,741 | €251,372 | €159,860 | €269,853 | ▲ 68.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €27,332 | €28,422 | €29,565 | €19,022 | ▼ 35.7% |
| Trade debts44 | €2,753 | €19,809 | €12,376 | €7,715 | €13,482 | €9,184 | €8,434 | ▼ 8.2% |
| Suppliers440/4 | - | - | - | €7,715 | €13,482 | €9,184 | €8,434 | ▼ 8.2% |
| Advances received on contracts in progress46 | - | - | - | €5,000 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €382 | €1,642 | €117 | €117 | = |
| Taxes450/3 | - | - | - | €382 | €1,642 | €117 | €117 | = |
| Other amounts payable47/48 | - | - | - | €184,313 | €207,826 | €120,994 | €242,280 | ▲ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,847 | €23,784 | -€19,285 | -€32,954 | -€7,513 | €790 | €12,519 | ▲ 16× |
| + Depreciation and write-downs630 | €1,073 | €15,784 | €15,784 | €15,151 | €14,089 | €14,234 | €434 | ▼ 97.0% |
| Operating cash flow (approximation) | €30,920 | €39,568 | -€3,501 | -€17,803 | €6,576 | €15,024 | €12,953 | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | -€72,211 | €0 | €0 | -€2,170 | €0 | €0 | - |
| Change in cash | - | -€11,730 | €33,306 | -€35,130 | €1,390 | €720 | -€3,037 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00020361 |
| 30-06-2024 | abbreviated format | 31-01-2025 | 2025-00028270 |
| 30-06-2023 | abbreviated format | 31-01-2024 | 2024-00023934 |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00020365 |
| 30-06-2021 | abbreviated format | 11-02-2022 | 2022-05500161 |
| 30-06-2020 | abbreviated format | 30-01-2021 | 2021-03700564 |
| 30-06-2019 | abbreviated format | 31-01-2020 | 2020-03500399 |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-04100324 |
| 30-06-2017 | abbreviated format | 29-01-2018 | 2018-02900279 |
| 30-06-2016 | abbreviated format | 29-11-2017 | 2017-70900213 |
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Of the 3,509 active companies whose main activity is promotion and organisation of arts and performing arts events (NACE 90391), figures are known for 696. 523 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €662 awarded · €437 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €165 |
| 2022 | 1 | €662 | €272 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.