KURE: 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.
KURE
Largest movements
- Receivables within one year +€38,089
up €38,089 (+23.8%), from €160,229 to €198,317
of which Other amounts receivable: +€32,370
- Cash -€33,456
down €33,456 (-76.5%), from €43,718 to €10,261
mainly Receivables within one year (-€38,089) and Net result for the year (-€24,971)
- Current investments -€20,000
down €20,000 (-16.7%), from €120,000 to €100,000
- Tangible fixed assets -€8,969
down €8,969 (-17.8%), from €50,257 to €41,288
of which Furniture and vehicles: -€8,969
- Profit (loss) carried forward -€24,971
down €24,971 (-148.7%), from -€16,790 to -€41,760
- Gross operating margin +€11,059
up €11,059 (+34.3%), from -€32,204 to -€21,145
- Financial income -€1,982
down €1,982 (-19.9%), from €9,959 to €7,977
- Depreciation +€1,161
up €1,161 (+11.9%), from €9,783 to €10,944
- Financial charges -€329
down €329 (-70.1%), from €470 to €140
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 | €386,624 | €362,964 | -€23,660 | -6.1% |
| Fixed assets | 21/28 | €57,141 | €48,826 | -€8,314 | -14.6% |
| Intangible fixed assets | 21 | €6,884 | €7,539 | +€655 | +9.5% |
| Tangible fixed assets | 22/27 | €50,257 | €41,288 | -€8,969 | -17.8% |
| Land and buildings | 22 | €15,000 | €15,000 | = | 0.0% |
| Furniture and vehicles | 24 | €35,257 | €26,288 | -€8,969 | -25.4% |
| Current assets | 29/58 | €329,483 | €314,137 | -€15,346 | -4.7% |
| Stocks and contracts in progress | 3 | €2,989 | €3,978 | +€989 | +33.1% |
| Stocks | 30/36 | €2,989 | €3,978 | +€989 | +33.1% |
| Amounts receivable within one year | 40/41 | €160,229 | €198,317 | +€38,089 | +23.8% |
| Trade receivables | 40 | - | €5,719 | +€5,719 | |
| Other amounts receivable | 41 | €160,229 | €192,598 | +€32,370 | +20.2% |
| Current investments | 50/53 | €120,000 | €100,000 | -€20,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €43,718 | €10,261 | -€33,456 | -76.5% |
| Deferred charges and accrued income | 490/1 | €2,547 | €1,580 | -€967 | -38.0% |
| Total equity and liabilities | 10/49 | €386,624 | €362,964 | -€23,660 | -6.1% |
| Equity | 10/15 | €385,672 | €360,702 | -€24,971 | -6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €3,924 | €3,924 | = | 0.0% |
| Reserves | 13 | €386,138 | €386,138 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,245 | €3,245 | = | 0.0% |
| Distributable reserves | 133 | €381,033 | €381,033 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,790 | -€41,760 | -€24,971 | -148.7% |
| Amounts payable | 17/49 | €951 | €2,262 | +€1,310 | +137.8% |
| Amounts payable within one year | 42/48 | €601 | €1,912 | +€1,310 | +217.9% |
| Trade debts | 44 | €601 | €1,912 | +€1,310 | +217.9% |
| Suppliers | 440/4 | €601 | €1,912 | +€1,310 | +217.9% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,783 | €10,944 | +€1,161 | +11.9% |
| Other operating charges | 640/8 | €699 | €553 | -€146 | -20.9% |
| Gross operating margin | 9900 | -€32,204 | -€21,145 | +€11,059 | +34.3% |
| Operating profit (loss) | 9901 | -€42,686 | -€32,642 | +€10,044 | +23.5% |
| Financial income | 75/76B | €9,959 | €7,977 | -€1,982 | -19.9% |
| Recurring financial income | 75 | €9,959 | €7,977 | -€1,982 | -19.9% |
| Financial charges | 65/66B | €470 | €140 | -€329 | -70.1% |
| Recurring financial charges | 65 | €470 | €140 | -€329 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | -€33,196 | -€24,806 | +€8,390 | +25.3% |
| Income taxes | 67/77 | - | €165 | +€165 | |
| Profit (loss) for the period | 9904 | -€33,196 | -€24,971 | +€8,225 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,196 | -€24,971 | +€8,225 | +24.8% |
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 10 October 2026 via checked.be.