Het Kunstuur: 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.
Het Kunstuur
Largest movements
- Tangible fixed assets -€216,226
down €216,226 (-13.1%), from €1.7m to €1.4m
- Cash +€101,826
up €101,826 (+662%), from €15,378 to €117,204
mainly Depreciation (+€223,959) and Debts after one year (+€178,758)
- Receivables within one year -€36,560
down €36,560 (-48.1%), from €75,968 to €39,408
of which Other amounts receivable: -€71,275
- Profit (loss) carried forward -€339,996
down €339,996 (-17.8%), from -€1.9m to -€2.3m
- Debts after one year +€178,758
up €178,758 (+4.9%), from €3.6m to €3.8m
- Trade debts +€33,464
up €33,464 (+37.6%), from €88,980 to €122,444
- Staff costs -€150,840
down €150,840 (-29.4%), from €512,716 to €361,875
- Depreciation -€85,047
down €85,047 (-27.5%), from €309,006 to €223,959
- Gross operating margin +€83,767
up €83,767 (+49.4%), from €169,651 to €253,419
- Financial charges -€8,735
down €8,735 (-61.4%), from €14,216 to €5,481
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 | €1,903,828 | €1,758,047 | -€145,781 | -7.7% |
| Formation expenses | 20 | €22 | - | -€22 | |
| Fixed assets | 21/28 | €1,687,218 | €1,466,898 | -€220,320 | -13.1% |
| Intangible fixed assets | 21 | €4,094 | - | -€4,094 | |
| Tangible fixed assets | 22/27 | €1,654,257 | €1,438,031 | -€216,226 | -13.1% |
| Plant, machinery and equipment | 23 | €1,654,257 | €1,438,031 | -€216,226 | -13.1% |
| Financial fixed assets | 28 | €28,867 | €28,867 | = | 0.0% |
| Current assets | 29/58 | €216,588 | €291,149 | +€74,560 | +34.4% |
| Amounts receivable within one year | 40/41 | €75,968 | €39,408 | -€36,560 | -48.1% |
| Trade receivables | 40 | €2,252 | €36,966 | +€34,715 | +1,542% |
| Other amounts receivable | 41 | €73,717 | €2,442 | -€71,275 | -96.7% |
| Cash at bank and in hand | 54/58 | €15,378 | €117,204 | +€101,826 | +662% |
| Deferred charges and accrued income | 490/1 | €125,241 | €134,536 | +€9,295 | +7.4% |
| Total equity and liabilities | 10/49 | €1,903,828 | €1,758,047 | -€145,781 | -7.7% |
| Equity | 10/15 | -€1,914,658 | -€2,254,653 | -€339,996 | -17.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,914,758 | -€2,254,753 | -€339,996 | -17.8% |
| Amounts payable | 17/49 | €3,818,485 | €4,012,700 | +€194,215 | +5.1% |
| Amounts payable after more than one year | 17 | €3,639,588 | €3,818,346 | +€178,758 | +4.9% |
| Other amounts payable | 178/9 | €3,639,588 | €3,818,346 | +€178,758 | +4.9% |
| Amounts payable within one year | 42/48 | €178,897 | €194,354 | +€15,457 | +8.6% |
| Trade debts | 44 | €88,980 | €122,444 | +€33,464 | +37.6% |
| Suppliers | 440/4 | €88,980 | €122,444 | +€33,464 | +37.6% |
| Taxes, remuneration and social security | 45 | €89,917 | €70,904 | -€19,012 | -21.1% |
| Taxes | 450/3 | €19,461 | €16,185 | -€3,277 | -16.8% |
| Remuneration and social security | 454/9 | €70,455 | €54,720 | -€15,735 | -22.3% |
| Other amounts payable | 47/48 | - | €1,005 | +€1,005 | |
| Remuneration, social security and pensions | 62 | €512,716 | €361,875 | -€150,840 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,006 | €223,959 | -€85,047 | -27.5% |
| Other operating charges | 640/8 | €1,725 | €2,107 | +€382 | +22.1% |
| Gross operating margin | 9900 | €169,651 | €253,419 | +€83,767 | +49.4% |
| Operating profit (loss) | 9901 | -€653,795 | -€334,522 | +€319,273 | +48.8% |
| Financial income | 75/76B | €0 | €8 | +€7 | +7,470% |
| Recurring financial income | 75 | €0 | €8 | +€7 | +7,470% |
| Financial charges | 65/66B | €14,216 | €5,481 | -€8,735 | -61.4% |
| Recurring financial charges | 65 | €14,216 | €5,481 | -€8,735 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | -€668,011 | -€339,996 | +€328,015 | +49.1% |
| Profit (loss) for the period | 9904 | -€668,011 | -€339,996 | +€328,015 | +49.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€668,011 | -€339,996 | +€328,015 | +49.1% |
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 17 October 2026 via checked.be.