KUNWAR: 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.
KUNWAR
Largest movements
- Tangible fixed assets +€40,151
up €40,151 (+195.6%), from €20,528 to €60,679
of which Other tangible fixed assets: +€44,296
- Cash -€33,691
down €33,691 (-38.3%), from €88,071 to €54,381
mainly Investment in fixed assets (net) (-€45,159) and Tax, wage and social debts (-€22,653)
- Trade debts +€24,443
up €24,443 (+295.6%), from €8,270 to €32,712
- Tax, wage and social debts -€22,653
down €22,653 (-43.1%), from €52,608 to €29,955
of which Taxes: -€23,045
- Reserves +€6,917
up €6,917 (+6.8%), from €102,065 to €108,982
- Gross operating margin -€46,457
down €46,457 (-23.3%), from €199,769 to €153,312
- Taxes -€19,237
down €19,237 (-91.0%), from €21,135 to €1,897
- Staff costs +€14,584
up €14,584 (+12.1%), from €120,311 to €134,895
- Other operating charges +€2,470
up €2,470 (+196.6%), from €1,256 to €3,726
- Depreciation +€2,064
up €2,064 (+70.1%), from €2,945 to €5,008
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 | €165,943 | €174,649 | +€8,707 | +5.2% |
| Fixed assets | 21/28 | €20,528 | €60,679 | +€40,151 | +195.6% |
| Tangible fixed assets | 22/27 | €20,528 | €60,679 | +€40,151 | +195.6% |
| Plant, machinery and equipment | 23 | €15,750 | €11,604 | -€4,146 | -26.3% |
| Other tangible fixed assets | 26 | €4,778 | €49,075 | +€44,296 | +927.1% |
| Current assets | 29/58 | €145,414 | €113,970 | -€31,444 | -21.6% |
| Stocks and contracts in progress | 3 | €597 | €625 | +€28 | +4.7% |
| Stocks | 30/36 | €597 | €625 | +€28 | +4.7% |
| Amounts receivable within one year | 40/41 | €54,287 | €54,856 | +€569 | +1.0% |
| Other amounts receivable | 41 | €54,287 | €54,856 | +€569 | +1.0% |
| Cash at bank and in hand | 54/58 | €88,071 | €54,381 | -€33,691 | -38.3% |
| Deferred charges and accrued income | 490/1 | €2,459 | €4,109 | +€1,650 | +67.1% |
| Total equity and liabilities | 10/49 | €165,943 | €174,649 | +€8,707 | +5.2% |
| Equity | 10/15 | €105,065 | €111,982 | +€6,917 | +6.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €102,065 | €108,982 | +€6,917 | +6.8% |
| Distributable reserves | 133 | €102,065 | €108,982 | +€6,917 | +6.8% |
| Amounts payable | 17/49 | €60,878 | €62,667 | +€1,790 | +2.9% |
| Amounts payable within one year | 42/48 | €60,878 | €62,667 | +€1,790 | +2.9% |
| Trade debts | 44 | €8,270 | €32,712 | +€24,443 | +295.6% |
| Suppliers | 440/4 | €8,270 | €32,712 | +€24,443 | +295.6% |
| Taxes, remuneration and social security | 45 | €52,608 | €29,955 | -€22,653 | -43.1% |
| Taxes | 450/3 | €28,403 | €5,358 | -€23,045 | -81.1% |
| Remuneration and social security | 454/9 | €24,205 | €24,597 | +€392 | +1.6% |
| Remuneration, social security and pensions | 62 | €120,311 | €134,895 | +€14,584 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,945 | €5,008 | +€2,064 | +70.1% |
| Other operating charges | 640/8 | €1,256 | €3,726 | +€2,470 | +196.6% |
| Gross operating margin | 9900 | €199,769 | €153,312 | -€46,457 | -23.3% |
| Operating profit (loss) | 9901 | €75,257 | €9,682 | -€65,575 | -87.1% |
| Financial income | 75/76B | €2,397 | €3,077 | +€680 | +28.4% |
| Recurring financial income | 75 | €2,397 | €3,077 | +€680 | +28.4% |
| Financial charges | 65/66B | €3,394 | €3,945 | +€551 | +16.2% |
| Recurring financial charges | 65 | €3,394 | €3,945 | +€551 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €74,259 | €8,814 | -€65,445 | -88.1% |
| Income taxes | 67/77 | €21,135 | €1,897 | -€19,237 | -91.0% |
| Profit (loss) for the period | 9904 | €53,125 | €6,917 | -€46,208 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,125 | €6,917 | -€46,208 | -87.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.