KUNARI: 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.
KUNARI
Largest movements
- Receivables within one year +€183,662
up €183,662 (+27.7%), from €662,519 to €846,181
of which Trade receivables: +€290,405
- Tangible fixed assets -€131,346
down €131,346 (-73.0%), from €179,949 to €48,603
of which Plant, machinery and equipment: -€72,609
- Trade debts -€133,885
down €133,885 (-35.8%), from €373,920 to €240,034
- Tax, wage and social debts +€89,130
up €89,130 (+2,239%), from €3,981 to €93,110
of which Taxes: +€89,130
- Other debts +€70,448
up €70,448 (+28.3%), from €249,034 to €319,481
- Reserves +€44,823
up €44,823 (+18.8%), from €238,926 to €283,749
of which Distributable reserves: +€44,823
- Debts after one year -€14,250
down €14,250 (-16.6%), from €85,750 to €71,500
- Gross operating margin +€84,776
up €84,776 (+83.7%), from €101,246 to €186,022
- Other operating charges +€71,704
up €71,704 (+1,653%), from €4,338 to €76,043
- Staff costs -€36,736
down €36,736 (-95.8%), from €38,336 to €1,600
- Depreciation -€25,450
down €25,450 (-61.2%), from €41,579 to €16,129
- Financial charges +€15,712
up €15,712 (+111%), from €14,117 to €29,829
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 | €1,177,516 | €1,219,964 | +€42,448 | +3.6% |
| Fixed assets | 21/28 | €191,749 | €60,403 | -€131,346 | -68.5% |
| Tangible fixed assets | 22/27 | €179,949 | €48,603 | -€131,346 | -73.0% |
| Land and buildings | 22 | €9,103 | €0 | -€9,103 | -100% |
| Plant, machinery and equipment | 23 | €115,682 | €43,073 | -€72,609 | -62.8% |
| Furniture and vehicles | 24 | €24,319 | €5,530 | -€18,789 | -77.3% |
| Other tangible fixed assets | 26 | €30,845 | €0 | -€30,845 | -100% |
| Financial fixed assets | 28 | €11,800 | €11,800 | = | 0.0% |
| Current assets | 29/58 | €985,767 | €1,159,561 | +€173,794 | +17.6% |
| Amounts receivable after more than one year | 29 | €283,639 | €272,062 | -€11,578 | -4.1% |
| Other amounts receivable | 291 | €283,639 | €272,062 | -€11,578 | -4.1% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €662,519 | €846,181 | +€183,662 | +27.7% |
| Trade receivables | 40 | €405,157 | €695,561 | +€290,405 | +71.7% |
| Other amounts receivable | 41 | €257,362 | €150,620 | -€106,743 | -41.5% |
| Cash at bank and in hand | 54/58 | €28,845 | €31,318 | +€2,473 | +8.6% |
| Deferred charges and accrued income | 490/1 | €763 | €0 | -€763 | -100% |
| Total equity and liabilities | 10/49 | €1,177,516 | €1,219,964 | +€42,448 | +3.6% |
| Equity | 10/15 | €300,926 | €345,749 | +€44,823 | +14.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €238,926 | €283,749 | +€44,823 | +18.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €232,726 | €277,549 | +€44,823 | +19.3% |
| Amounts payable | 17/49 | €876,590 | €874,215 | -€2,375 | -0.3% |
| Amounts payable after more than one year | 17 | €85,750 | €71,500 | -€14,250 | -16.6% |
| Financial debts | 170/4 | €85,750 | €71,500 | -€14,250 | -16.6% |
| Amounts payable within one year | 42/48 | €790,840 | €802,715 | +€11,875 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €163,906 | €150,089 | -€13,817 | -8.4% |
| Trade debts | 44 | €373,920 | €240,034 | -€133,885 | -35.8% |
| Suppliers | 440/4 | €373,920 | €240,034 | -€133,885 | -35.8% |
| Taxes, remuneration and social security | 45 | €3,981 | €93,110 | +€89,130 | +2,239% |
| Taxes | 450/3 | €3,981 | €93,110 | +€89,130 | +2,239% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €249,034 | €319,481 | +€70,448 | +28.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €98,477 | €0 | -€98,477 | -100% |
| Remuneration, social security and pensions | 62 | €38,336 | €1,600 | -€36,736 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,579 | €16,129 | -€25,450 | -61.2% |
| Other operating charges | 640/8 | €4,338 | €76,043 | +€71,704 | +1,653% |
| Gross operating margin | 9900 | €101,246 | €186,022 | +€84,776 | +83.7% |
| Operating profit (loss) | 9901 | €16,992 | €92,251 | +€75,258 | +443% |
| Financial income | 75/76B | €45 | €0 | -€45 | -100% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -100% |
| Financial charges | 65/66B | €14,117 | €29,829 | +€15,712 | +111% |
| Recurring financial charges | 65 | €14,117 | €29,829 | +€15,712 | +111% |
| Profit (loss) for the period before taxes | 9903 | €2,921 | €62,422 | +€59,501 | +2,037% |
| Income taxes | 67/77 | €11,463 | €17,599 | +€6,136 | +53.5% |
| Profit (loss) for the period | 9904 | -€8,542 | €44,823 | +€53,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,542 | €44,823 | +€53,365 |
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 14 October 2026 via checked.be.