KUMA MANAGEMENT: what changed
Two fiscal 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.
KUMA MANAGEMENT
Largest movements
- Tangible fixed assets -€39,500
down €39,500 (-7.6%), from €519,800 to €480,300
- Cash +€19,142
up €19,142 (+68.6%), from €27,905 to €47,047
mainly Depreciation (+€39,500) and Net result for the year (+€18,133)
- Debts after one year -€35,211
down €35,211 (-10.0%), from €350,741 to €315,530
- Profit (loss) carried forward +€18,133
up €18,133 (+79.4%), from -€22,850 to -€4,718
- Gross operating margin +€6,486
up €6,486 (+9.5%), from €68,065 to €74,551
- Other operating charges +€3,050
up €3,050 (+32.3%), from €9,437 to €12,487
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.
Cash bridge derived
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 | €547,801 | €527,885 | -€19,915 | -3.6% |
| Fixed assets | 21/28 | €519,800 | €480,300 | -€39,500 | -7.6% |
| Tangible fixed assets | 22/27 | €519,800 | €480,300 | -€39,500 | -7.6% |
| Land and buildings | 22 | €519,800 | €480,300 | -€39,500 | -7.6% |
| Current assets | 29/58 | €28,000 | €47,585 | +€19,585 | +69.9% |
| Amounts receivable within one year | 40/41 | - | €538 | +€538 | |
| Trade receivables | 40 | - | €538 | +€538 | |
| Cash at bank and in hand | 54/58 | €27,905 | €47,047 | +€19,142 | +68.6% |
| Deferred charges and accrued income | 490/1 | €96 | €0 | -€96 | -100.0% |
| Total equity and liabilities | 10/49 | €547,801 | €527,885 | -€19,915 | -3.6% |
| Equity | 10/15 | €156,950 | €175,082 | +€18,133 | +11.6% |
| Contributions | 10/11 | €179,800 | €179,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,850 | -€4,718 | +€18,133 | +79.4% |
| Amounts payable | 17/49 | €390,851 | €352,803 | -€38,048 | -9.7% |
| Amounts payable after more than one year | 17 | €350,741 | €315,530 | -€35,211 | -10.0% |
| Financial debts | 170/4 | €350,741 | €315,530 | -€35,211 | -10.0% |
| Amounts payable within one year | 42/48 | €39,992 | €36,466 | -€3,527 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €34,824 | €35,211 | +€387 | +1.1% |
| Trade debts | 44 | - | €771 | +€771 | |
| Suppliers | 440/4 | - | €771 | +€771 | |
| Other amounts payable | 47/48 | €5,168 | €483 | -€4,685 | -90.6% |
| Accrued charges and deferred income | 492/3 | €117 | €807 | +€689 | +588.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,500 | €39,500 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €9,437 | €12,487 | +€3,050 | +32.3% |
| Gross operating margin | 9900 | €68,065 | €74,551 | +€6,486 | +9.5% |
| Operating profit (loss) | 9901 | €19,128 | €22,565 | +€3,436 | +18.0% |
| Financial charges | 65/66B | €4,796 | €4,432 | -€364 | -7.6% |
| Recurring financial charges | 65 | €4,796 | €4,432 | -€364 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €14,332 | €18,133 | +€3,800 | +26.5% |
| Profit (loss) for the period | 9904 | €14,332 | €18,133 | +€3,800 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,332 | €18,133 | +€3,800 | +26.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.