De KuSt Invest: what changed
What changed
De KuSt Invest
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€3,435
2024 · €5,769-€2,334
Equity
€22,125
2024 · €18,690+€3,435
Cash
€1,648
2024 · €316+€1,332
Balance sheet total
€187,450
2024 · €35,248+€152,202
Largest movements
Assets
- Receivables after one year +€79,932
up €79,932 (+280%), from €28,500 to €108,432
- Tangible fixed assets +€52,240
new in 2025: €52,240
- Receivables within one year +€16,988
up €16,988 (+264%), from €6,432 to €23,419
of which Trade receivables: +€19,349
Equity and liabilities
- Debts after one year +€152,500
new in 2025: €152,500
- Tax, wage and social debts -€8,203
down €8,203 (-95.3%), from €8,610 to €408
- Other debts +€4,904
up €4,904 (+92.3%), from €5,313 to €10,218
- Reserves +€3,435
up €3,435 (+39.5%), from €8,690 to €12,125
Income statement
- Gross operating margin -€9,544
down €9,544 (-58.1%), from €16,438 to €6,894
- Financial charges -€5,577
down €5,577 (-83.9%), from €6,645 to €1,068
- Other operating charges -€1,580
down €1,580 (-66.9%), from €2,363 to €783
- Taxes -€1,282
down €1,282 (-62.8%), from €2,042 to €760
- Depreciation +€1,189
new in 2025: €1,189
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€5,769
Gross operating margin
-€9,544
Depreciation
-€1,189
Other operating charges
+€1,580
Financial income
-€41
Financial charges
+€5,577
Taxes
+€1,282
Result 2025
€3,435
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€97,739
Investment
-€53,429
Financing
+€152,500
Cash 2024
€316
From operations (derived)
-€97,739
Net result for the year
+€3,435
Depreciation
+€1,189
Receivables after one year
-€79,932
Receivables within one year
-€16,988
Deferred charges and accrued income
-€1,711
Trade debts
-€435
Tax, wage and social debts
-€8,203
Other debts
+€4,904
Investment (derived)
-€53,429
Investment in fixed assets (net)
-€53,429
Financing
+€152,500
Debts after one year
+€152,500
Cash 2025
€1,648
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,248 | €187,450 | +€152,202 | +432% |
| Fixed assets | 21/28 | - | €52,240 | +€52,240 | |
| Tangible fixed assets | 22/27 | - | €52,240 | +€52,240 | |
| Furniture and vehicles | 24 | - | €52,240 | +€52,240 | |
| Current assets | 29/58 | €35,248 | €135,211 | +€99,963 | +284% |
| Amounts receivable after more than one year | 29 | €28,500 | €108,432 | +€79,932 | +280% |
| Other amounts receivable | 291 | €28,500 | €108,432 | +€79,932 | +280% |
| Amounts receivable within one year | 40/41 | €6,432 | €23,419 | +€16,988 | +264% |
| Trade receivables | 40 | - | €19,349 | +€19,349 | |
| Other amounts receivable | 41 | €6,432 | €4,070 | -€2,361 | -36.7% |
| Cash at bank and in hand | 54/58 | €316 | €1,648 | +€1,332 | +421% |
| Deferred charges and accrued income | 490/1 | - | €1,711 | +€1,711 | |
| Total equity and liabilities | 10/49 | €35,248 | €187,450 | +€152,202 | +432% |
| Equity | 10/15 | €18,690 | €22,125 | +€3,435 | +18.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €8,690 | €12,125 | +€3,435 | +39.5% |
| Distributable reserves | 133 | €8,690 | €12,125 | +€3,435 | +39.5% |
| Amounts payable | 17/49 | €16,558 | €165,325 | +€148,767 | +898% |
| Amounts payable after more than one year | 17 | - | €152,500 | +€152,500 | |
| Financial debts | 170/4 | - | €152,500 | +€152,500 | |
| Amounts payable within one year | 42/48 | €16,558 | €12,825 | -€3,733 | -22.5% |
| Trade debts | 44 | €2,635 | €2,200 | -€435 | -16.5% |
| Suppliers | 440/4 | €2,635 | €2,200 | -€435 | -16.5% |
| Taxes, remuneration and social security | 45 | €8,610 | €408 | -€8,203 | -95.3% |
| Taxes | 450/3 | €8,610 | €408 | -€8,203 | -95.3% |
| Other amounts payable | 47/48 | €5,313 | €10,218 | +€4,904 | +92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,189 | +€1,189 | |
| Other operating charges | 640/8 | €2,363 | €783 | -€1,580 | -66.9% |
| Gross operating margin | 9900 | €16,438 | €6,894 | -€9,544 | -58.1% |
| Operating profit (loss) | 9901 | €14,075 | €4,922 | -€9,152 | -65.0% |
| Financial income | 75/76B | €382 | €341 | -€41 | -10.7% |
| Recurring financial income | 75 | €382 | €341 | -€41 | -10.7% |
| Financial charges | 65/66B | €6,645 | €1,068 | -€5,577 | -83.9% |
| Recurring financial charges | 65 | €6,645 | €1,068 | -€5,577 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €7,811 | €4,195 | -€3,616 | -46.3% |
| Income taxes | 67/77 | €2,042 | €760 | -€1,282 | -62.8% |
| Profit (loss) for the period | 9904 | €5,769 | €3,435 | -€2,334 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,769 | €3,435 | -€2,334 | -40.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.