Kunstwerkt: 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.
Kunstwerkt
Largest movements
- Cash -€152,667
down €152,667 (-36.5%), from €418,764 to €266,097
mainly Receivables within one year (-€87,336) and Investment in fixed assets (net) (-€84,982)
- Receivables within one year +€87,336
up €87,336 (+79.9%), from €109,242 to €196,578
of which Other amounts receivable: +€44,032
- Intangible fixed assets +€52,956
new in 2025: €52,956
- Profit (loss) carried forward -€59,960
down €59,960 (-24.7%), from €242,381 to €182,422
- Accrued charges and deferred income +€35,658
up €35,658 (+351%), from €10,145 to €45,804
- Debts within one year +€21,678
up €21,678 (+15.1%), from €143,091 to €164,769
of which Tax, wage and social debts: +€31,179
- Reserves -€15,252
down €15,252 (-8.0%), from €190,000 to €174,748
- Staff costs +€74,585
up €74,585 (+11.3%), from €658,572 to €733,157
- Depreciation +€26,937
up €26,937 (+332%), from €8,110 to €35,047
- Other operating charges +€15,717
up €15,717 (+176,000%), from €9 to €15,726
- Gross operating margin +€10,723
up €10,723 (+1.5%), from €697,609 to €708,332
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 | €585,618 | €567,743 | -€17,875 | -3.1% |
| Fixed assets | 21/28 | €49,878 | €99,813 | +€49,936 | +100% |
| Intangible fixed assets | 21 | - | €52,956 | +€52,956 | |
| Tangible fixed assets | 22/27 | €41,529 | €38,509 | -€3,020 | -7.3% |
| Plant, machinery and equipment | 23 | €3,821 | €3,750 | -€71 | -1.9% |
| Furniture and vehicles | 24 | €37,709 | €34,759 | -€2,949 | -7.8% |
| Financial fixed assets | 28 | €8,349 | €8,349 | = | 0.0% |
| Current assets | 29/58 | €535,740 | €467,929 | -€67,811 | -12.7% |
| Amounts receivable within one year | 40/41 | €109,242 | €196,578 | +€87,336 | +79.9% |
| Trade receivables | 40 | €6,651 | €49,955 | +€43,304 | +651% |
| Other amounts receivable | 41 | €102,591 | €146,623 | +€44,032 | +42.9% |
| Cash at bank and in hand | 54/58 | €418,764 | €266,097 | -€152,667 | -36.5% |
| Deferred charges and accrued income | 490/1 | €7,734 | €5,254 | -€2,480 | -32.1% |
| Total equity and liabilities | 10/49 | €585,618 | €567,743 | -€17,875 | -3.1% |
| Equity | 10/15 | €432,381 | €357,170 | -€75,211 | -17.4% |
| Reserves | 13 | €190,000 | €174,748 | -€15,252 | -8.0% |
| Profit (loss) carried forward | 14 | €242,381 | €182,422 | -€59,960 | -24.7% |
| Amounts payable | 17/49 | €153,237 | €210,573 | +€57,336 | +37.4% |
| Amounts payable within one year | 42/48 | €143,091 | €164,769 | +€21,678 | +15.1% |
| Trade debts | 44 | €29,735 | €38,571 | +€8,836 | +29.7% |
| Suppliers | 440/4 | €29,735 | €38,571 | +€8,836 | +29.7% |
| Advances received on contracts in progress | 46 | €287 | €100 | -€187 | -65.1% |
| Taxes, remuneration and social security | 45 | €94,919 | €126,098 | +€31,179 | +32.8% |
| Taxes | 450/3 | €17,514 | €20,523 | +€3,009 | +17.2% |
| Remuneration and social security | 454/9 | €77,405 | €105,575 | +€28,170 | +36.4% |
| Accrued charges and deferred income | 492/3 | €10,145 | €45,804 | +€35,658 | +351% |
| Non-recurring operating income | 76A | €8,782 | - | -€8,782 | |
| Remuneration, social security and pensions | 62 | €658,572 | €733,157 | +€74,585 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,110 | €35,047 | +€26,937 | +332% |
| Other operating charges | 640/8 | €9 | €15,726 | +€15,717 | +176,000% |
| Gross operating margin | 9900 | €697,609 | €708,332 | +€10,723 | +1.5% |
| Operating profit (loss) | 9901 | €30,919 | -€75,598 | -€106,516 | |
| Financial income | 75/76B | €641 | €1,677 | +€1,035 | +161% |
| Recurring financial income | 75 | €641 | €1,677 | +€1,035 | +161% |
| Financial charges | 65/66B | €1,586 | €1,290 | -€296 | -18.7% |
| Recurring financial charges | 65 | €1,586 | €1,290 | -€296 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €29,974 | -€75,211 | -€105,185 | |
| Profit (loss) for the period | 9904 | €29,974 | -€75,211 | -€105,185 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,974 | -€75,211 | -€105,185 |
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 18 October 2026 via checked.be.