GROUPE KUSTERS: 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.
GROUPE KUSTERS
Largest movements
- Cash -€77,265
down €77,265 (-82.7%), from €93,429 to €16,164
mainly Other debts (-€68,508) and Contributions, distributions and other (-€57,000)
- Receivables within one year -€38,637
down €38,637 (-49.2%), from €78,541 to €39,903
of which Trade receivables: -€31,601
- Stocks and contracts +€29,683
up €29,683 (+22.2%), from €133,613 to €163,295
- Tangible fixed assets -€17,263
down €17,263 (-20.8%), from €83,096 to €65,832
of which Furniture and vehicles: -€14,005
- Deferred charges and accrued income +€6,472
new in 2025: €6,472
- Other debts -€68,508
down €68,508 (-83.7%), from €81,859 to €13,351
- Tax, wage and social debts -€19,008
down €19,008 (-40.4%), from €47,024 to €28,016
of which Taxes: -€16,168
- Trade debts -€16,921
down €16,921 (-82.0%), from €20,647 to €3,727
- Reserves +€7,426
up €7,426 (+3.4%), from €220,773 to €228,199
- Gross operating margin -€123,639
down €123,639 (-49.9%), from €247,933 to €124,294
- Taxes -€12,470
down €12,470 (-28.2%), from €44,184 to €31,714
- Depreciation +€11,776
up €11,776 (+101.0%), from €11,664 to €23,440
- Other operating charges -€8,139
down €8,139 (-86.9%), from €9,367 to €1,227
- Staff costs -€7,621
down €7,621 (-74.0%), from €10,300 to €2,678
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 | €388,903 | €291,893 | -€97,010 | -24.9% |
| Fixed assets | 21/28 | €83,321 | €66,057 | -€17,263 | -20.7% |
| Tangible fixed assets | 22/27 | €83,096 | €65,832 | -€17,263 | -20.8% |
| Plant, machinery and equipment | 23 | €12,965 | €9,706 | -€3,259 | -25.1% |
| Furniture and vehicles | 24 | €70,131 | €56,126 | -€14,005 | -20.0% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €305,582 | €225,835 | -€79,747 | -26.1% |
| Stocks and contracts in progress | 3 | €133,613 | €163,295 | +€29,683 | +22.2% |
| Stocks | 30/36 | €133,613 | €163,295 | +€29,683 | +22.2% |
| Amounts receivable within one year | 40/41 | €78,541 | €39,903 | -€38,637 | -49.2% |
| Trade receivables | 40 | €67,777 | €36,176 | -€31,601 | -46.6% |
| Other amounts receivable | 41 | €10,764 | €3,728 | -€7,036 | -65.4% |
| Cash at bank and in hand | 54/58 | €93,429 | €16,164 | -€77,265 | -82.7% |
| Deferred charges and accrued income | 490/1 | - | €6,472 | +€6,472 | |
| Total equity and liabilities | 10/49 | €388,903 | €291,893 | -€97,010 | -24.9% |
| Equity | 10/15 | €239,373 | €246,799 | +€7,426 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €220,773 | €228,199 | +€7,426 | +3.4% |
| Distributable reserves | 133 | €220,773 | €228,199 | +€7,426 | +3.4% |
| Amounts payable | 17/49 | €149,531 | €45,094 | -€104,437 | -69.8% |
| Amounts payable within one year | 42/48 | €149,531 | €45,094 | -€104,437 | -69.8% |
| Trade debts | 44 | €20,647 | €3,727 | -€16,921 | -82.0% |
| Suppliers | 440/4 | €20,647 | €3,727 | -€16,921 | -82.0% |
| Taxes, remuneration and social security | 45 | €47,024 | €28,016 | -€19,008 | -40.4% |
| Taxes | 450/3 | €44,184 | €28,016 | -€16,168 | -36.6% |
| Remuneration and social security | 454/9 | €2,840 | - | -€2,840 | |
| Other amounts payable | 47/48 | €81,859 | €13,351 | -€68,508 | -83.7% |
| Non-recurring operating income | 76A | €61,919 | - | -€61,919 | |
| Remuneration, social security and pensions | 62 | €10,300 | €2,678 | -€7,621 | -74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,664 | €23,440 | +€11,776 | +101.0% |
| Other operating charges | 640/8 | €9,367 | €1,227 | -€8,139 | -86.9% |
| Gross operating margin | 9900 | €247,933 | €124,294 | -€123,639 | -49.9% |
| Operating profit (loss) | 9901 | €216,602 | €96,948 | -€119,654 | -55.2% |
| Financial income | 75/76B | €2,643 | €0 | -€2,643 | -100.0% |
| Recurring financial income | 75 | €2,643 | €0 | -€2,643 | -100.0% |
| Financial charges | 65/66B | €1,066 | €808 | -€258 | -24.2% |
| Recurring financial charges | 65 | €1,066 | €808 | -€258 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €218,179 | €96,140 | -€122,039 | -55.9% |
| Income taxes | 67/77 | €44,184 | €31,714 | -€12,470 | -28.2% |
| Profit (loss) for the period | 9904 | €173,995 | €64,426 | -€109,569 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €173,995 | €64,426 | -€109,569 | -63.0% |
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 10 October 2026 via checked.be.