KUDU STORIES: 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.
KUDU STORIES
Largest movements
- Receivables within one year +€6,334
up €6,334 (+49.8%), from €12,715 to €19,049
- Other debts +€6,000
up €6,000 (+42.9%), from €14,000 to €20,000
- Gross operating margin -€25,656
down €25,656 (-20.4%), from €125,606 to €99,950
- Taxes -€4,696
down €4,696 (-24.7%), from €19,013 to €14,317
- Other operating charges -€1,685
down €1,685 (-5.4%), from €30,987 to €29,302
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 | €102,079 | €108,534 | +€6,455 | +6.3% |
| Fixed assets | 21/28 | €904 | €461 | -€443 | -49.0% |
| Tangible fixed assets | 22/27 | €904 | €461 | -€443 | -49.0% |
| Furniture and vehicles | 24 | €904 | €461 | -€443 | -49.0% |
| Current assets | 29/58 | €101,175 | €108,073 | +€6,898 | +6.8% |
| Amounts receivable within one year | 40/41 | €12,715 | €19,049 | +€6,334 | +49.8% |
| Other amounts receivable | 41 | €12,715 | €19,049 | +€6,334 | +49.8% |
| Cash at bank and in hand | 54/58 | €88,460 | €88,958 | +€498 | +0.6% |
| Deferred charges and accrued income | 490/1 | - | €66 | +€66 | |
| Total equity and liabilities | 10/49 | €102,079 | €108,534 | +€6,455 | +6.3% |
| Equity | 10/15 | €55,553 | €55,167 | -€386 | -0.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,552 | €55,166 | -€386 | -0.7% |
| Amounts payable | 17/49 | €46,526 | €53,367 | +€6,841 | +14.7% |
| Amounts payable within one year | 42/48 | €46,526 | €53,367 | +€6,841 | +14.7% |
| Trade debts | 44 | €3,350 | €3,994 | +€644 | +19.2% |
| Suppliers | 440/4 | €3,350 | €3,994 | +€644 | +19.2% |
| Taxes, remuneration and social security | 45 | €29,176 | €29,373 | +€197 | +0.7% |
| Taxes | 450/3 | €29,176 | €29,373 | +€197 | +0.7% |
| Other amounts payable | 47/48 | €14,000 | €20,000 | +€6,000 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426 | €443 | +€17 | +4.0% |
| Other operating charges | 640/8 | €30,987 | €29,302 | -€1,685 | -5.4% |
| Gross operating margin | 9900 | €125,606 | €99,950 | -€25,656 | -20.4% |
| Operating profit (loss) | 9901 | €94,193 | €70,205 | -€23,988 | -25.5% |
| Financial income | 75/76B | €531 | €861 | +€330 | +62.1% |
| Recurring financial income | 75 | €531 | €861 | +€330 | +62.1% |
| Financial charges | 65/66B | €159 | €135 | -€24 | -15.1% |
| Recurring financial charges | 65 | €159 | €135 | -€24 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €94,565 | €70,931 | -€23,634 | -25.0% |
| Income taxes | 67/77 | €19,013 | €14,317 | -€4,696 | -24.7% |
| Profit (loss) for the period | 9904 | €75,552 | €56,614 | -€18,938 | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,552 | €56,614 | -€18,938 | -25.1% |
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 16 October 2026 via checked.be.