KUMBA ERNEST: 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.
KUMBA ERNEST
Largest movements
- Receivables within one year +€331,496
up €331,496 (+650%), from €50,962 to €382,458
of which Other amounts receivable: +€278,496
- Cash -€21,986
down €21,986 (-59.0%), from €37,256 to €15,270
mainly Receivables within one year (-€331,496) and Investment in fixed assets (net) (-€24,752)
- Deferred charges and accrued income +€14,543
up €14,543 (+378%), from €3,846 to €18,390
- Tangible fixed assets +€11,996
up €11,996 (+3.3%), from €358,872 to €370,867
of which Furniture and vehicles: +€6,990
- Debts after one year +€245,263
up €245,263 (+76.8%), from €319,441 to €564,703
- Profit (loss) carried forward +€43,552
up €43,552 (+85.5%), from €50,926 to €94,479
- Trade debts +€27,310
up €27,310 (+294%), from €9,304 to €36,614
- Current portion of long-term debt +€15,426
up €15,426 (+85.4%), from €18,067 to €33,493
- Financial charges +€14,864
up €14,864 (+360%), from €4,131 to €18,995
- Gross operating margin +€13,545
up €13,545 (+17.9%), from €75,673 to €89,217
- Depreciation +€9,989
up €9,989 (+361%), from €2,767 to €12,756
- Financial income +€4,748
new in 2025: €4,748
- Taxes -€3,179
down €3,179 (-19.0%), from €16,763 to €13,584
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 | €450,936 | €786,985 | +€336,049 | +74.5% |
| Fixed assets | 21/28 | €358,872 | €370,867 | +€11,996 | +3.3% |
| Tangible fixed assets | 22/27 | €358,872 | €370,867 | +€11,996 | +3.3% |
| Land and buildings | 22 | €349,212 | €354,538 | +€5,326 | +1.5% |
| Plant, machinery and equipment | 23 | €1,266 | €946 | -€320 | -25.3% |
| Furniture and vehicles | 24 | €8,394 | €15,384 | +€6,990 | +83.3% |
| Current assets | 29/58 | €92,064 | €416,118 | +€324,053 | +352% |
| Amounts receivable within one year | 40/41 | €50,962 | €382,458 | +€331,496 | +650% |
| Trade receivables | 40 | - | €53,000 | +€53,000 | |
| Other amounts receivable | 41 | €50,962 | €329,458 | +€278,496 | +546% |
| Cash at bank and in hand | 54/58 | €37,256 | €15,270 | -€21,986 | -59.0% |
| Deferred charges and accrued income | 490/1 | €3,846 | €18,390 | +€14,543 | +378% |
| Total equity and liabilities | 10/49 | €450,936 | €786,985 | +€336,049 | +74.5% |
| Equity | 10/15 | €76,832 | €120,384 | +€43,552 | +56.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,905 | €23,905 | = | 0.0% |
| Distributable reserves | 133 | €23,905 | €23,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,926 | €94,479 | +€43,552 | +85.5% |
| Amounts payable | 17/49 | €374,105 | €666,601 | +€292,497 | +78.2% |
| Amounts payable after more than one year | 17 | €319,441 | €564,703 | +€245,263 | +76.8% |
| Financial debts | 170/4 | €319,441 | €564,703 | +€245,263 | +76.8% |
| Amounts payable within one year | 42/48 | €54,664 | €101,823 | +€47,159 | +86.3% |
| Current portion of amounts payable after more than one year | 42 | €18,067 | €33,493 | +€15,426 | +85.4% |
| Trade debts | 44 | €9,304 | €36,614 | +€27,310 | +294% |
| Suppliers | 440/4 | €9,304 | €36,614 | +€27,310 | +294% |
| Taxes, remuneration and social security | 45 | €27,293 | €31,133 | +€3,840 | +14.1% |
| Taxes | 450/3 | €27,293 | €30,792 | +€3,499 | +12.8% |
| Remuneration and social security | 454/9 | - | €341 | +€341 | |
| Other amounts payable | 47/48 | - | €583 | +€583 | |
| Accrued charges and deferred income | 492/3 | - | €75 | +€75 | |
| Remuneration, social security and pensions | 62 | - | €3,038 | +€3,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,767 | €12,756 | +€9,989 | +361% |
| Other operating charges | 640/8 | €1,085 | €1,207 | +€122 | +11.2% |
| Gross operating margin | 9900 | €75,673 | €89,217 | +€13,545 | +17.9% |
| Operating profit (loss) | 9901 | €71,821 | €72,216 | +€396 | +0.6% |
| Financial income | 75/76B | - | €4,748 | +€4,748 | |
| Recurring financial income | 75 | - | €4,748 | +€4,748 | |
| Financial charges | 65/66B | €4,131 | €18,995 | +€14,864 | +360% |
| Recurring financial charges | 65 | €4,131 | €18,995 | +€14,864 | +360% |
| Profit (loss) for the period before taxes | 9903 | €67,689 | €57,969 | -€9,720 | -14.4% |
| Income taxes | 67/77 | €16,763 | €13,584 | -€3,179 | -19.0% |
| Profit (loss) for the period | 9904 | €50,926 | €44,385 | -€6,541 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,926 | €44,385 | -€6,541 | -12.8% |
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 19 October 2026 via checked.be.