André Kunzler: 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.
André Kunzler
Largest movements
- Cash +€122,532
up €122,532 (+235.3%), from €52,070 to €174,601
mainly Net result for the year (+€91,042) and Tax, wage and social debts (+€38,029)
- Reserves +€91,042
up €91,042 (+390.3%), from €23,326 to €114,367
- Tax, wage and social debts +€38,029
up €38,029 (+241.8%), from €15,727 to €53,756
- Trade debts -€8,336
down €8,336 (-86.2%), from €9,665 to €1,329
- Short-term financial debts +€1,874
up €1,874 (+3226.3%), from €58 to €1,932
- Gross operating margin +€90,649
up €90,649 (+286.2%), from €31,674 to €122,323
- Taxes +€19,840
up €19,840 (+308.7%), from €6,427 to €26,267
- Financial charges +€2,909
up €2,909 (+188.9%), from €1,540 to €4,449
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 | €54,430 | €177,818 | +€123,388 | +226.7% |
| Current assets | 29/58 | €54,430 | €177,818 | +€123,388 | +226.7% |
| Amounts receivable within one year | 40/41 | €1,150 | €460 | -€690 | -60.0% |
| Trade receivables | 40 | €1,150 | €0 | -€1,150 | -100.0% |
| Other amounts receivable | 41 | - | €460 | +€460 | |
| Cash at bank and in hand | 54/58 | €52,070 | €174,601 | +€122,532 | +235.3% |
| Deferred charges and accrued income | 490/1 | €1,210 | €2,756 | +€1,546 | +127.7% |
| Total equity and liabilities | 10/49 | €54,430 | €177,818 | +€123,388 | +226.7% |
| Equity | 10/15 | €28,326 | €119,367 | +€91,042 | +321.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €23,326 | €114,367 | +€91,042 | +390.3% |
| Distributable reserves | 133 | €23,326 | €114,367 | +€91,042 | +390.3% |
| Amounts payable | 17/49 | €26,104 | €58,450 | +€32,346 | +123.9% |
| Amounts payable within one year | 42/48 | €26,104 | €58,450 | +€32,346 | +123.9% |
| Financial debts | 43 | €58 | €1,932 | +€1,874 | +3226.3% |
| Credit institutions | 430/8 | €58 | €1,932 | +€1,874 | +3226.3% |
| Trade debts | 44 | €9,665 | €1,329 | -€8,336 | -86.2% |
| Suppliers | 440/4 | €9,665 | €1,329 | -€8,336 | -86.2% |
| Taxes, remuneration and social security | 45 | €15,727 | €53,756 | +€38,029 | +241.8% |
| Taxes | 450/3 | €15,727 | €53,756 | +€38,029 | +241.8% |
| Other amounts payable | 47/48 | €655 | €1,434 | +€779 | +119.0% |
| Other operating charges | 640/8 | €387 | €565 | +€178 | +45.9% |
| Gross operating margin | 9900 | €31,674 | €122,323 | +€90,649 | +286.2% |
| Operating profit (loss) | 9901 | €31,287 | €121,758 | +€90,471 | +289.2% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.5% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.5% |
| Financial charges | 65/66B | €1,540 | €4,449 | +€2,909 | +188.9% |
| Recurring financial charges | 65 | €1,540 | €4,449 | +€2,909 | +188.9% |
| Profit (loss) for the period before taxes | 9903 | €29,753 | €117,309 | +€87,556 | +294.3% |
| Income taxes | 67/77 | €6,427 | €26,267 | +€19,840 | +308.7% |
| Profit (loss) for the period | 9904 | €23,326 | €91,042 | +€67,716 | +290.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,326 | €91,042 | +€67,716 | +290.3% |
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.