DE KUST: 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.
DE KUST
Largest movements
- Receivables within one year +€21,058
up €21,058 (+57.9%), from €36,371 to €57,428
of which Other amounts receivable: +€23,828
- Cash +€5,313
up €5,313 (+162%), from €3,275 to €8,588
mainly Net result for the year (+€23,649) and Other debts (+€15,000)
- Tangible fixed assets -€3,581
down €3,581 (-31.6%), from €11,340 to €7,759
of which Plant, machinery and equipment: -€3,307
- Other debts +€15,000
up €15,000 (+66.7%), from €22,500 to €37,500
- Reserves +€12,245
up €12,245 (+415%), from €2,952 to €15,197
of which Distributable reserves: +€12,245
- Profit (loss) carried forward -€3,596
no longer reported in 2025 (was €3,596)
- Current portion of long-term debt -€1,204
no longer reported in 2025 (was €1,204)
- Tax, wage and social debts +€1,089
up €1,089 (+86.1%), from €1,264 to €2,353
- Gross operating margin +€13,019
up €13,019 (+58.1%), from €22,391 to €35,410
- Taxes +€2,786
up €2,786 (+89.8%), from €3,102 to €5,888
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 | €50,986 | €73,776 | +€22,790 | +44.7% |
| Fixed assets | 21/28 | €11,340 | €7,759 | -€3,581 | -31.6% |
| Tangible fixed assets | 22/27 | €11,340 | €7,759 | -€3,581 | -31.6% |
| Plant, machinery and equipment | 23 | €10,839 | €7,532 | -€3,307 | -30.5% |
| Furniture and vehicles | 24 | €501 | €227 | -€274 | -54.7% |
| Current assets | 29/58 | €39,646 | €66,017 | +€26,371 | +66.5% |
| Amounts receivable within one year | 40/41 | €36,371 | €57,428 | +€21,058 | +57.9% |
| Trade receivables | 40 | €2,770 | - | -€2,770 | |
| Other amounts receivable | 41 | €33,600 | €57,428 | +€23,828 | +70.9% |
| Cash at bank and in hand | 54/58 | €3,275 | €8,588 | +€5,313 | +162% |
| Total equity and liabilities | 10/49 | €50,986 | €73,776 | +€22,790 | +44.7% |
| Equity | 10/15 | €25,139 | €33,789 | +€8,649 | +34.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,952 | €15,197 | +€12,245 | +415% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,092 | €13,337 | +€12,245 | +1,121% |
| Profit (loss) carried forward | 14 | €3,596 | - | -€3,596 | |
| Amounts payable | 17/49 | €25,847 | €39,987 | +€14,141 | +54.7% |
| Amounts payable within one year | 42/48 | €25,847 | €39,987 | +€14,141 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €1,204 | - | -€1,204 | |
| Trade debts | 44 | €878 | €134 | -€744 | -84.8% |
| Suppliers | 440/4 | €878 | €134 | -€744 | -84.8% |
| Taxes, remuneration and social security | 45 | €1,264 | €2,353 | +€1,089 | +86.1% |
| Taxes | 450/3 | €1,264 | €2,353 | +€1,089 | +86.1% |
| Other amounts payable | 47/48 | €22,500 | €37,500 | +€15,000 | +66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,531 | €3,581 | +€50 | +1.4% |
| Other operating charges | 640/8 | €1,591 | €1,637 | +€46 | +2.9% |
| Gross operating margin | 9900 | €22,391 | €35,410 | +€13,019 | +58.1% |
| Operating profit (loss) | 9901 | €17,269 | €30,192 | +€12,923 | +74.8% |
| Financial income | 75/76B | €0 | €52 | +€51 | +19,708% |
| Recurring financial income | 75 | €0 | €52 | +€51 | +19,708% |
| Financial charges | 65/66B | €917 | €706 | -€211 | -23.0% |
| Recurring financial charges | 65 | €917 | €706 | -€211 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €16,352 | €29,537 | +€13,185 | +80.6% |
| Income taxes | 67/77 | €3,102 | €5,888 | +€2,786 | +89.8% |
| Profit (loss) for the period | 9904 | €13,250 | €23,649 | +€10,399 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,250 | €23,649 | +€10,399 | +78.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.