KUNO: 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.
KUNO
Largest movements
- Tangible fixed assets -€77,795
down €77,795 (-3.3%), from €2.3m to €2.3m
of which Land and buildings: -€75,474
- Receivables within one year +€58,707
up €58,707 (+16.9%), from €347,800 to €406,507
- Debts after one year +€1.7m
up €1.7m (+197%), from €878,153 to €2.6m
of which Other amounts payable: +€1.3m
- Other debts -€1.6m
down €1.6m (-89.0%), from €1.8m to €199,982
- Profit (loss) carried forward -€293,164
new in 2025: -€293,164
- Reserves +€122,688
up €122,688 (+13.7%), from €895,583 to €1.0m
of which Distributable reserves: +€128,419
- Current portion of long-term debt +€47,216
up €47,216 (+45.9%), from €102,784 to €150,000
- Gross operating margin -€94,398
down €94,398, from €76,527 to -€17,871
- Other operating charges +€21,327
up €21,327 (+251%), from €8,505 to €29,832
- Financial charges +€14,064
up €14,064 (+27.7%), from €50,709 to €64,773
- Financial income -€5,616
down €5,616 (-18.5%), from €30,360 to €24,744
- Depreciation -€4,851
down €4,851 (-5.6%), from €86,269 to €81,418
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 | €3,992,529 | €3,974,661 | -€17,868 | -0.4% |
| Fixed assets | 21/28 | €2,334,375 | €2,256,580 | -€77,795 | -3.3% |
| Tangible fixed assets | 22/27 | €2,332,590 | €2,254,795 | -€77,795 | -3.3% |
| Land and buildings | 22 | €2,286,018 | €2,210,544 | -€75,474 | -3.3% |
| Plant, machinery and equipment | 23 | €33,566 | €34,670 | +€1,104 | +3.3% |
| Furniture and vehicles | 24 | €13,006 | €9,581 | -€3,425 | -26.3% |
| Financial fixed assets | 28 | €1,785 | €1,785 | = | 0.0% |
| Current assets | 29/58 | €1,658,154 | €1,718,081 | +€59,927 | +3.6% |
| Amounts receivable after more than one year | 29 | €1,300,000 | €1,300,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,300,000 | €1,300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €347,800 | €406,507 | +€58,707 | +16.9% |
| Other amounts receivable | 41 | €347,800 | €406,507 | +€58,707 | +16.9% |
| Cash at bank and in hand | 54/58 | €42 | €87 | +€45 | +107% |
| Deferred charges and accrued income | 490/1 | €10,312 | €11,487 | +€1,175 | +11.4% |
| Total equity and liabilities | 10/49 | €3,992,529 | €3,974,661 | -€17,868 | -0.4% |
| Equity | 10/15 | €1,108,188 | €937,712 | -€170,476 | -15.4% |
| Contributions | 10/11 | €212,605 | €212,605 | = | 0.0% |
| Reserves | 13 | €895,583 | €1,018,271 | +€122,688 | +13.7% |
| Tax-exempt reserves | 132 | €99,705 | €93,974 | -€5,731 | -5.7% |
| Distributable reserves | 133 | €795,878 | €924,297 | +€128,419 | +16.1% |
| Profit (loss) carried forward | 14 | - | -€293,164 | -€293,164 | |
| Provisions and deferred taxes | 16 | €58,495 | €56,584 | -€1,911 | -3.3% |
| Deferred taxes | 168 | €58,495 | €56,584 | -€1,911 | -3.3% |
| Amounts payable | 17/49 | €2,825,846 | €2,980,365 | +€154,519 | +5.5% |
| Amounts payable after more than one year | 17 | €878,153 | €2,607,171 | +€1.7m | +197% |
| Financial debts | 170/4 | €878,153 | €1,350,000 | +€471,847 | +53.7% |
| Other amounts payable | 178/9 | - | €1,257,171 | +€1.3m | |
| Amounts payable within one year | 42/48 | €1,947,693 | €373,194 | -€1.6m | -80.8% |
| Current portion of amounts payable after more than one year | 42 | €102,784 | €150,000 | +€47,216 | +45.9% |
| Trade debts | 44 | €16,569 | €15,846 | -€723 | -4.4% |
| Suppliers | 440/4 | €16,569 | €15,846 | -€723 | -4.4% |
| Taxes, remuneration and social security | 45 | €8,719 | €7,366 | -€1,353 | -15.5% |
| Taxes | 450/3 | €8,719 | €7,366 | -€1,353 | -15.5% |
| Other amounts payable | 47/48 | €1,819,621 | €199,982 | -€1.6m | -89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,269 | €81,418 | -€4,851 | -5.6% |
| Other operating charges | 640/8 | €8,505 | €29,832 | +€21,327 | +251% |
| Gross operating margin | 9900 | €76,527 | -€17,871 | -€94,398 | |
| Operating profit (loss) | 9901 | -€18,247 | -€129,121 | -€110,874 | -608% |
| Financial income | 75/76B | €30,360 | €24,744 | -€5,616 | -18.5% |
| Recurring financial income | 75 | €30,360 | €24,744 | -€5,616 | -18.5% |
| Financial charges | 65/66B | €50,709 | €64,773 | +€14,064 | +27.7% |
| Recurring financial charges | 65 | €50,709 | €64,773 | +€14,064 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,596 | -€169,150 | -€130,554 | -338% |
| Transfer from deferred taxes | 780 | €2,378 | €1,911 | -€467 | -19.6% |
| Income taxes | 67/77 | €3 | €3,238 | +€3,235 | +107,833% |
| Profit (loss) for the period | 9904 | -€36,221 | -€170,477 | -€134,256 | -371% |
| Transfer from tax-exempt reserves | 789 | €7,134 | €5,731 | -€1,403 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,087 | -€164,746 | -€135,659 | -466% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.