Ku-Anne: 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.
Ku-Anne
Largest movements
- Receivables within one year +€98,220
up €98,220 (+296%), from €33,188 to €131,408
of which Trade receivables: +€98,203
- Cash +€49,671
up €49,671 (+144%), from €34,571 to €84,243
mainly Net result for the year (+€73,385) and Provisions (+€50,062)
- Deferred charges and accrued income +€23,523
up €23,523 (+3,488%), from €674 to €24,198
- Reserves +€73,385
up €73,385 (+176%), from €41,751 to €115,137
of which Tax-exempt reserves: +€42,100
- Provisions +€50,062
new in 2025: €50,062
- Tax, wage and social debts +€28,592
up €28,592 (+149%), from €19,173 to €47,765
- Trade debts +€11,258
up €11,258 (+175%), from €6,425 to €17,683
- Accrued charges and deferred income +€6,000
new in 2025: €6,000
- Gross operating margin +€160,795
up €160,795 (+514%), from €31,304 to €192,099
- Provisions +€50,062
new in 2025: €50,062
- Taxes +€42,245
up €42,245 (+316%), from €13,349 to €55,594
- Staff costs +€4,386
up €4,386 (+4,775%), from €92 to €4,478
- Financial charges +€4,084
up €4,084 (+2,002%), from €204 to €4,288
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 | €78,044 | €248,676 | +€170,632 | +219% |
| Fixed assets | 21/28 | €8,564 | €7,687 | -€877 | -10.2% |
| Tangible fixed assets | 22/27 | €8,564 | €7,687 | -€877 | -10.2% |
| Land and buildings | 22 | €4,965 | €4,042 | -€922 | -18.6% |
| Plant, machinery and equipment | 23 | €1,555 | €1,155 | -€399 | -25.7% |
| Furniture and vehicles | 24 | €2,045 | €2,490 | +€445 | +21.8% |
| Current assets | 29/58 | €69,480 | €240,988 | +€171,508 | +247% |
| Stocks and contracts in progress | 3 | €1,046 | €1,140 | +€94 | +9.0% |
| Stocks | 30/36 | €1,046 | €1,140 | +€94 | +9.0% |
| Amounts receivable within one year | 40/41 | €33,188 | €131,408 | +€98,220 | +296% |
| Trade receivables | 40 | €33,003 | €131,206 | +€98,203 | +298% |
| Other amounts receivable | 41 | €185 | €202 | +€17 | +9.2% |
| Cash at bank and in hand | 54/58 | €34,571 | €84,243 | +€49,671 | +144% |
| Deferred charges and accrued income | 490/1 | €674 | €24,198 | +€23,523 | +3,488% |
| Total equity and liabilities | 10/49 | €78,044 | €248,676 | +€170,632 | +219% |
| Equity | 10/15 | €46,751 | €120,137 | +€73,385 | +157% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,751 | €115,137 | +€73,385 | +176% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €41,751 | €73,037 | +€31,285 | +74.9% |
| Provisions and deferred taxes | 16 | - | €50,062 | +€50,062 | |
| Provisions for liabilities and charges | 160/5 | - | €50,062 | +€50,062 | |
| Other liabilities and charges | 164/5 | - | €50,062 | +€50,062 | |
| Amounts payable | 17/49 | €31,293 | €78,477 | +€47,184 | +151% |
| Amounts payable within one year | 42/48 | €31,293 | €72,477 | +€41,184 | +132% |
| Financial debts | 43 | €2,444 | €1,530 | -€914 | -37.4% |
| Credit institutions | 430/8 | €2,444 | €1,530 | -€914 | -37.4% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €6,425 | €17,683 | +€11,258 | +175% |
| Suppliers | 440/4 | €6,425 | €17,683 | +€11,258 | +175% |
| Taxes, remuneration and social security | 45 | €19,173 | €47,765 | +€28,592 | +149% |
| Taxes | 450/3 | €19,173 | €47,765 | +€28,592 | +149% |
| Other amounts payable | 47/48 | €3,250 | €5,498 | +€2,248 | +69.2% |
| Accrued charges and deferred income | 492/3 | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €92 | €4,478 | +€4,386 | +4,775% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,019 | €3,348 | +€1,328 | +65.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,062 | +€50,062 | |
| Other operating charges | 640/8 | €840 | €944 | +€103 | +12.3% |
| Gross operating margin | 9900 | €31,304 | €192,099 | +€160,795 | +514% |
| Operating profit (loss) | 9901 | €28,352 | €133,268 | +€104,915 | +370% |
| Financial income | 75/76B | €0 | €0 | +€0 | +3,000% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3,000% |
| Financial charges | 65/66B | €204 | €4,288 | +€4,084 | +2,002% |
| Recurring financial charges | 65 | €204 | €4,288 | +€4,084 | +2,002% |
| Profit (loss) for the period before taxes | 9903 | €28,148 | €128,980 | +€100,832 | +358% |
| Income taxes | 67/77 | €13,349 | €55,594 | +€42,245 | +316% |
| Profit (loss) for the period | 9904 | €14,799 | €73,385 | +€58,587 | +396% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,799 | €31,285 | +€16,487 | +111% |
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 24 October 2026 via checked.be.