KUREV: 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.
KUREV
Largest movements
- Tangible fixed assets +€157,542
up €157,542 (+52.1%), from €302,430 to €459,973
of which Land and buildings: +€147,001
- Cash -€41,291
down €41,291 (-23.4%), from €176,264 to €134,973
mainly Investment in fixed assets (net) (-€232,803) and Contributions, distributions and other (-€71,951)
- Receivables within one year +€21,394
up €21,394 (+80.2%), from €26,676 to €48,070
of which Other amounts receivable: +€16,391
- Other debts +€133,945
up €133,945 (+337.1%), from €39,738 to €173,683
- Reserves -€97,264
down €97,264 (-31.4%), from €309,713 to €212,450
of which Distributable reserves: -€97,264
- Debts after one year +€90,000
up €90,000 (+83.7%), from €107,500 to €197,500
- Current portion of long-term debt +€15,000
up €15,000 (+37.5%), from €40,000 to €55,000
- Gross operating margin -€159,021
down €159,021 (-73.1%), from €217,506 to €58,486
- Taxes -€34,540
down €34,540 (-99.6%), from €34,693 to €153
- Depreciation +€2,214
up €2,214 (+3.0%), from €73,046 to €75,261
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 | €508,699 | €647,371 | +€138,672 | +27.3% |
| Fixed assets | 21/28 | €302,930 | €460,473 | +€157,542 | +52.0% |
| Tangible fixed assets | 22/27 | €302,430 | €459,973 | +€157,542 | +52.1% |
| Land and buildings | 22 | €296,318 | €443,319 | +€147,001 | +49.6% |
| Furniture and vehicles | 24 | €6,112 | €16,654 | +€10,541 | +172.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €205,768 | €186,898 | -€18,870 | -9.2% |
| Amounts receivable within one year | 40/41 | €26,676 | €48,070 | +€21,394 | +80.2% |
| Trade receivables | 40 | €14,700 | €19,703 | +€5,003 | +34.0% |
| Other amounts receivable | 41 | €11,976 | €28,367 | +€16,391 | +136.9% |
| Cash at bank and in hand | 54/58 | €176,264 | €134,973 | -€41,291 | -23.4% |
| Deferred charges and accrued income | 490/1 | €2,829 | €3,856 | +€1,027 | +36.3% |
| Total equity and liabilities | 10/49 | €508,699 | €647,371 | +€138,672 | +27.3% |
| Equity | 10/15 | €315,913 | €218,650 | -€97,264 | -30.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €309,713 | €212,450 | -€97,264 | -31.4% |
| Tax-exempt reserves | 132 | €50,916 | €50,916 | = | 0.0% |
| Distributable reserves | 133 | €258,797 | €161,534 | -€97,264 | -37.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €192,785 | €428,721 | +€235,936 | +122.4% |
| Amounts payable after more than one year | 17 | €107,500 | €197,500 | +€90,000 | +83.7% |
| Financial debts | 170/4 | €107,500 | €197,500 | +€90,000 | +83.7% |
| Amounts payable within one year | 42/48 | €84,032 | €231,221 | +€147,189 | +175.2% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €55,000 | +€15,000 | +37.5% |
| Trade debts | 44 | €1,918 | €238 | -€1,680 | -87.6% |
| Suppliers | 440/4 | €1,918 | €238 | -€1,680 | -87.6% |
| Taxes, remuneration and social security | 45 | €2,376 | €2,301 | -€76 | -3.2% |
| Taxes | 450/3 | €861 | €2,301 | +€1,440 | +167.3% |
| Remuneration and social security | 454/9 | €1,516 | €0 | -€1,516 | -100.0% |
| Other amounts payable | 47/48 | €39,738 | €173,683 | +€133,945 | +337.1% |
| Accrued charges and deferred income | 492/3 | €1,253 | €0 | -€1,253 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,046 | €75,261 | +€2,214 | +3.0% |
| Other operating charges | 640/8 | €2,806 | €2,860 | +€54 | +1.9% |
| Gross operating margin | 9900 | €217,506 | €58,486 | -€159,021 | -73.1% |
| Operating profit (loss) | 9901 | €141,654 | -€19,635 | -€161,289 | |
| Financial income | 75/76B | €1,558 | €11 | -€1,547 | -99.3% |
| Recurring financial income | 75 | €1,558 | €11 | -€1,547 | -99.3% |
| Financial charges | 65/66B | €6,305 | €5,536 | -€770 | -12.2% |
| Recurring financial charges | 65 | €6,305 | €5,536 | -€770 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €136,907 | -€25,160 | -€162,067 | |
| Income taxes | 67/77 | €34,693 | €153 | -€34,540 | -99.6% |
| Profit (loss) for the period | 9904 | €102,214 | -€25,313 | -€127,527 | |
| Transfer to tax-exempt reserves | 689 | €50,520 | €0 | -€50,520 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,694 | -€25,313 | -€77,007 |
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 1 October 2026 via checked.be.