KRUG CONSEILS: what changed
KRUG CONSEILS
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€252,301
down €252,301 (-78.4%), from €321,779 to €69,477
mainly Current investments (-€300,000) and Contributions, distributions and other (-€40,000)
- Receivables within one year -€20,830
down €20,830 (-75.5%), from €27,593 to €6,763
of which Trade receivables: -€16,106
- Tangible fixed assets -€14,225
down €14,225 (-7.5%), from €188,956 to €174,731
of which Furniture and vehicles: -€13,280
- Reserves +€48,390
up €48,390 (+10.6%), from €454,825 to €503,215
- Debts after one year -€18,263
no longer reported in 2025 (was €18,263)
- Current portion of long-term debt -€15,200
down €15,200 (-45.4%), from €33,463 to €18,263
- Gross operating margin +€8,221
up €8,221 (+5.7%), from €143,211 to €151,431
- Taxes +€3,576
up €3,576 (+9.1%), from €39,233 to €42,809
- Depreciation -€3,510
down €3,510 (-15.7%), from €22,321 to €18,811
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €539,475 | €552,118 | +€12,643 | +2.3% |
| Fixed assets | 21/28 | €188,956 | €174,731 | -€14,225 | -7.5% |
| Tangible fixed assets | 22/27 | €188,956 | €174,731 | -€14,225 | -7.5% |
| Land and buildings | 22 | €129,489 | €129,859 | +€370 | +0.3% |
| Plant, machinery and equipment | 23 | €4,018 | €2,703 | -€1,315 | -32.7% |
| Furniture and vehicles | 24 | €41,890 | €28,610 | -€13,280 | -31.7% |
| Other tangible fixed assets | 26 | €13,560 | €13,560 | = | 0.0% |
| Current assets | 29/58 | €350,519 | €377,387 | +€26,868 | +7.7% |
| Amounts receivable within one year | 40/41 | €27,593 | €6,763 | -€20,830 | -75.5% |
| Trade receivables | 40 | €17,843 | €1,737 | -€16,106 | -90.3% |
| Other amounts receivable | 41 | €9,750 | €5,025 | -€4,725 | -48.5% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €321,779 | €69,477 | -€252,301 | -78.4% |
| Deferred charges and accrued income | 490/1 | €1,147 | €1,147 | = | 0.0% |
| Total equity and liabilities | 10/49 | €539,475 | €552,118 | +€12,643 | +2.3% |
| Equity | 10/15 | €473,452 | €521,850 | +€48,398 | +10.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €454,825 | €503,215 | +€48,390 | +10.6% |
| Distributable reserves | 133 | €454,825 | €503,215 | +€48,390 | +10.6% |
| Profit (loss) carried forward | 14 | €77 | €85 | +€8 | +10.4% |
| Amounts payable | 17/49 | €66,023 | €30,268 | -€35,755 | -54.2% |
| Amounts payable after more than one year | 17 | €18,263 | - | -€18,263 | |
| Financial debts | 170/4 | €18,263 | - | -€18,263 | |
| Amounts payable within one year | 42/48 | €47,760 | €30,268 | -€17,492 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €33,463 | €18,263 | -€15,200 | -45.4% |
| Trade debts | 44 | €3,609 | €209 | -€3,400 | -94.2% |
| Suppliers | 440/4 | €3,609 | €209 | -€3,400 | -94.2% |
| Taxes, remuneration and social security | 45 | €10,688 | €11,796 | +€1,108 | +10.4% |
| Taxes | 450/3 | €10,688 | €11,796 | +€1,108 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,321 | €18,811 | -€3,510 | -15.7% |
| Other operating charges | 640/8 | €873 | €803 | -€70 | -8.0% |
| Gross operating margin | 9900 | €143,211 | €151,431 | +€8,221 | +5.7% |
| Operating profit (loss) | 9901 | €120,017 | €131,817 | +€11,801 | +9.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €767 | €610 | -€156 | -20.4% |
| Recurring financial charges | 65 | €767 | €610 | -€156 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €119,250 | €131,207 | +€11,957 | +10.0% |
| Income taxes | 67/77 | €39,233 | €42,809 | +€3,576 | +9.1% |
| Profit (loss) for the period | 9904 | €80,017 | €88,398 | +€8,381 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,017 | €88,398 | +€8,381 | +10.5% |
Next steps
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 4 November 2026 via checked.be.