De Kunst: 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.
De Kunst
Largest movements
- Receivables within one year +€13,797
up €13,797 (+51.0%), from €27,058 to €40,854
of which Other amounts receivable: +€16,271
- Tangible fixed assets +€7,362
up €7,362 (+25.1%), from €29,360 to €36,722
of which Plant, machinery and equipment: +€8,811
- Deferred charges and accrued income +€1,151
up €1,151 (+334.0%), from €345 to €1,496
- Other debts +€18,652
up €18,652 (+34.8%), from €53,667 to €72,319
- Tax, wage and social debts +€14,651
up €14,651 (+62.0%), from €23,647 to €38,298
of which Taxes: +€18,581
- Debts after one year -€10,000
down €10,000 (-35.7%), from €28,000 to €18,000
- Profit (loss) carried forward +€5,399
up €5,399 (+8.1%), from -€66,587 to -€61,188
- Trade debts -€3,545
down €3,545 (-13.3%), from €26,730 to €23,185
- Gross operating margin +€91,905
up €91,905 (+237.3%), from €38,736 to €130,640
- Staff costs +€16,084
up €16,084 (+15.8%), from €101,700 to €117,784
- Depreciation +€2,756
up €2,756 (+108.5%), from €2,539 to €5,295
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 | €77,457 | €100,114 | +€22,657 | +29.3% |
| Fixed assets | 21/28 | €42,860 | €50,222 | +€7,362 | +17.2% |
| Tangible fixed assets | 22/27 | €29,360 | €36,722 | +€7,362 | +25.1% |
| Plant, machinery and equipment | 23 | €15,570 | €24,381 | +€8,811 | +56.6% |
| Other tangible fixed assets | 26 | €13,790 | €12,341 | -€1,449 | -10.5% |
| Financial fixed assets | 28 | €13,500 | €13,500 | = | 0.0% |
| Current assets | 29/58 | €34,597 | €49,892 | +€15,295 | +44.2% |
| Amounts receivable within one year | 40/41 | €27,058 | €40,854 | +€13,797 | +51.0% |
| Trade receivables | 40 | €2,883 | €408 | -€2,475 | -85.8% |
| Other amounts receivable | 41 | €24,175 | €40,446 | +€16,271 | +67.3% |
| Cash at bank and in hand | 54/58 | €7,195 | €7,542 | +€347 | +4.8% |
| Deferred charges and accrued income | 490/1 | €345 | €1,496 | +€1,151 | +334.0% |
| Total equity and liabilities | 10/49 | €77,457 | €100,114 | +€22,657 | +29.3% |
| Equity | 10/15 | -€65,587 | -€60,188 | +€5,399 | +8.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,587 | -€61,188 | +€5,399 | +8.1% |
| Amounts payable | 17/49 | €143,044 | €160,302 | +€17,258 | +12.1% |
| Amounts payable after more than one year | 17 | €28,000 | €18,000 | -€10,000 | -35.7% |
| Financial debts | 170/4 | €28,000 | €18,000 | -€10,000 | -35.7% |
| Amounts payable within one year | 42/48 | €115,044 | €142,302 | +€27,258 | +23.7% |
| Financial debts | 43 | €11,000 | €8,500 | -€2,500 | -22.7% |
| Other loans | 439 | €11,000 | €8,500 | -€2,500 | -22.7% |
| Trade debts | 44 | €26,730 | €23,185 | -€3,545 | -13.3% |
| Suppliers | 440/4 | €26,730 | €23,185 | -€3,545 | -13.3% |
| Taxes, remuneration and social security | 45 | €23,647 | €38,298 | +€14,651 | +62.0% |
| Taxes | 450/3 | €6,416 | €24,997 | +€18,581 | +289.6% |
| Remuneration and social security | 454/9 | €17,232 | €13,301 | -€3,931 | -22.8% |
| Other amounts payable | 47/48 | €53,667 | €72,319 | +€18,652 | +34.8% |
| Remuneration, social security and pensions | 62 | €101,700 | €117,784 | +€16,084 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,539 | €5,295 | +€2,756 | +108.5% |
| Other operating charges | 640/8 | €1,440 | €1,700 | +€260 | +18.0% |
| Non-recurring operating charges | 66A | €128 | €1,338 | +€1,210 | +945.5% |
| Gross operating margin | 9900 | €38,736 | €130,640 | +€91,905 | +237.3% |
| Operating profit (loss) | 9901 | -€67,072 | €4,523 | +€71,594 | |
| Financial income | 75/76B | €345 | €1,496 | +€1,152 | +334.0% |
| Recurring financial income | 75 | €345 | €1,496 | +€1,152 | +334.0% |
| Financial charges | 65/66B | -€140 | €620 | +€760 | |
| Recurring financial charges | 65 | -€140 | €620 | +€760 | |
| Profit (loss) for the period before taxes | 9903 | -€66,587 | €5,399 | +€71,986 | |
| Profit (loss) for the period | 9904 | -€66,587 | €5,399 | +€71,986 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,587 | €5,399 | +€71,986 |
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 1 October 2026 via checked.be.