KULTUR BAKERY: 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.
KULTUR BAKERY
Largest movements
- Tangible fixed assets +€50,150
up €50,150 (+3.6%), from €1.4m to €1.4m
of which Plant, machinery and equipment: +€52,029
- Cash -€33,806
down €33,806 (-49.8%), from €67,913 to €34,107
mainly Investment in fixed assets (net) (-€167,972) and Other debts (-€68,273)
- Receivables within one year -€24,754
down €24,754 (-48.0%), from €51,570 to €26,816
of which Other amounts receivable: -€13,645
- Stocks and contracts +€18,635
up €18,635 (+182%), from €10,237 to €28,872
- Reserves +€105,574
up €105,574 (+64.3%), from €164,179 to €269,753
- Other debts -€68,273
down €68,273 (-51.9%), from €131,618 to €63,344
- Debts after one year -€42,538
down €42,538 (-4.0%), from €1.1m to €1.0m
- Gross operating margin +€90,486
up €90,486 (+22.1%), from €410,100 to €500,585
- Depreciation +€34,352
up €34,352 (+41.5%), from €82,774 to €117,125
- Staff costs +€33,975
up €33,975 (+24.4%), from €139,184 to €173,159
- Taxes +€9,214
up €9,214 (+25.8%), from €35,686 to €44,901
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 | €1,520,400 | €1,530,165 | +€9,766 | +0.6% |
| Formation expenses | 20 | €164 | €0 | -€164 | -100% |
| Fixed assets | 21/28 | €1,388,322 | €1,439,333 | +€51,011 | +3.7% |
| Intangible fixed assets | 21 | €311 | €3 | -€308 | -99.2% |
| Tangible fixed assets | 22/27 | €1,386,624 | €1,436,774 | +€50,150 | +3.6% |
| Land and buildings | 22 | €1,244,279 | €1,240,270 | -€4,009 | -0.3% |
| Plant, machinery and equipment | 23 | €133,576 | €185,605 | +€52,029 | +39.0% |
| Furniture and vehicles | 24 | €3,524 | €9,052 | +€5,528 | +157% |
| Leasing and similar rights | 25 | €5,246 | €1,847 | -€3,399 | -64.8% |
| Financial fixed assets | 28 | €1,388 | €2,557 | +€1,170 | +84.3% |
| Current assets | 29/58 | €131,913 | €90,832 | -€41,081 | -31.1% |
| Stocks and contracts in progress | 3 | €10,237 | €28,872 | +€18,635 | +182% |
| Stocks | 30/36 | €10,237 | €28,872 | +€18,635 | +182% |
| Amounts receivable within one year | 40/41 | €51,570 | €26,816 | -€24,754 | -48.0% |
| Trade receivables | 40 | €37,607 | €26,497 | -€11,109 | -29.5% |
| Other amounts receivable | 41 | €13,963 | €318 | -€13,645 | -97.7% |
| Cash at bank and in hand | 54/58 | €67,913 | €34,107 | -€33,806 | -49.8% |
| Deferred charges and accrued income | 490/1 | €2,193 | €1,037 | -€1,155 | -52.7% |
| Total equity and liabilities | 10/49 | €1,520,400 | €1,530,165 | +€9,766 | +0.6% |
| Equity | 10/15 | €179,179 | €284,753 | +€105,574 | +58.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €164,179 | €269,753 | +€105,574 | +64.3% |
| Distributable reserves | 133 | €164,179 | €269,753 | +€105,574 | +64.3% |
| Amounts payable | 17/49 | €1,341,221 | €1,245,412 | -€95,809 | -7.1% |
| Amounts payable after more than one year | 17 | €1,053,504 | €1,010,966 | -€42,538 | -4.0% |
| Financial debts | 170/4 | €1,053,504 | €1,010,966 | -€42,538 | -4.0% |
| Amounts payable within one year | 42/48 | €287,717 | €234,447 | -€53,270 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €98,346 | €98,252 | -€94 | -0.1% |
| Trade debts | 44 | €17,526 | €18,904 | +€1,378 | +7.9% |
| Suppliers | 440/4 | €17,526 | €18,904 | +€1,378 | +7.9% |
| Taxes, remuneration and social security | 45 | €40,227 | €53,946 | +€13,719 | +34.1% |
| Taxes | 450/3 | €18,605 | €30,850 | +€12,246 | +65.8% |
| Remuneration and social security | 454/9 | €21,623 | €23,096 | +€1,473 | +6.8% |
| Other amounts payable | 47/48 | €131,618 | €63,344 | -€68,273 | -51.9% |
| Non-recurring operating income | 76A | €299 | - | -€299 | |
| Remuneration, social security and pensions | 62 | €139,184 | €173,159 | +€33,975 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,774 | €117,125 | +€34,352 | +41.5% |
| Other operating charges | 640/8 | €4,595 | €9,419 | +€4,824 | +105% |
| Non-recurring operating charges | 66A | - | €169 | +€169 | |
| Gross operating margin | 9900 | €410,100 | €500,585 | +€90,486 | +22.1% |
| Operating profit (loss) | 9901 | €183,547 | €200,714 | +€17,166 | +9.4% |
| Financial income | 75/76B | €77 | €7 | -€69 | -90.4% |
| Recurring financial income | 75 | €77 | €7 | -€69 | -90.4% |
| Financial charges | 65/66B | €46,582 | €50,246 | +€3,664 | +7.9% |
| Recurring financial charges | 65 | €46,582 | €50,246 | +€3,664 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €137,042 | €150,475 | +€13,433 | +9.8% |
| Income taxes | 67/77 | €35,686 | €44,901 | +€9,214 | +25.8% |
| Profit (loss) for the period | 9904 | €101,356 | €105,574 | +€4,219 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,356 | €105,574 | +€4,219 | +4.2% |
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 31 October 2026 via checked.be.