KURSUN: 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.
KURSUN
Largest movements
- Receivables within one year +€27,483
up €27,483 (+63.1%), from €43,548 to €71,031
of which Other amounts receivable: +€16,138
- Tangible fixed assets +€1,281
up €1,281 (+556%), from €230 to €1,511
- Reserves +€19,998
up €19,998 (+110%), from €18,121 to €38,119
- Trade debts +€10,159
up €10,159 (+687%), from €1,479 to €11,638
- Purchases and services -€102,451
no longer reported in 2025 (was €102,451)
- Gross operating margin +€7,221
up €7,221 (+20.9%), from €34,612 to €41,833
- Depreciation +€6,047
up €6,047 (+1,316%), from €460 to €6,507
- Financial income +€682
up €682 (+34.5%), from €1,978 to €2,660
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 | €56,280 | €85,047 | +€28,767 | +51.1% |
| Fixed assets | 21/28 | €230 | €1,511 | +€1,281 | +556% |
| Tangible fixed assets | 22/27 | €230 | €1,511 | +€1,281 | +556% |
| Plant, machinery and equipment | 23 | €230 | €1,511 | +€1,281 | +556% |
| Current assets | 29/58 | €56,050 | €83,536 | +€27,486 | +49.0% |
| Amounts receivable within one year | 40/41 | €43,548 | €71,031 | +€27,483 | +63.1% |
| Trade receivables | 40 | - | €11,346 | +€11,346 | |
| Other amounts receivable | 41 | €43,548 | €59,686 | +€16,138 | +37.1% |
| Cash at bank and in hand | 54/58 | €12,502 | €12,505 | +€3 | 0.0% |
| Total equity and liabilities | 10/49 | €56,280 | €85,047 | +€28,767 | +51.1% |
| Equity | 10/15 | €36,190 | €56,188 | +€19,998 | +55.3% |
| Reserves | 13 | €18,121 | €38,119 | +€19,998 | +110% |
| Distributable reserves | 133 | €18,121 | €38,119 | +€19,998 | +110% |
| Profit (loss) carried forward | 14 | €18,069 | €18,069 | = | 0.0% |
| Amounts payable | 17/49 | €20,090 | €28,859 | +€8,769 | +43.6% |
| Amounts payable within one year | 42/48 | €20,090 | €28,859 | +€8,769 | +43.6% |
| Current portion of amounts payable after more than one year | 42 | €747 | - | -€747 | |
| Trade debts | 44 | €1,479 | €11,638 | +€10,159 | +687% |
| Suppliers | 440/4 | €1,479 | €11,638 | +€10,159 | +687% |
| Taxes, remuneration and social security | 45 | €17,865 | €17,222 | -€643 | -3.6% |
| Taxes | 450/3 | €17,865 | €17,222 | -€643 | -3.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €102,451 | - | -€102,451 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460 | €6,507 | +€6,047 | +1,316% |
| Other operating charges | 640/8 | €2,601 | €2,747 | +€146 | +5.6% |
| Non-recurring operating charges | 66A | €383 | - | -€383 | |
| Gross operating margin | 9900 | €34,612 | €41,833 | +€7,221 | +20.9% |
| Operating profit (loss) | 9901 | €31,168 | €32,579 | +€1,411 | +4.5% |
| Financial income | 75/76B | €1,978 | €2,660 | +€682 | +34.5% |
| Recurring financial income | 75 | €1,978 | €2,660 | +€682 | +34.5% |
| Financial charges | 65/66B | €4,264 | €4,415 | +€151 | +3.5% |
| Recurring financial charges | 65 | €4,264 | €4,415 | +€151 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €28,882 | €30,824 | +€1,942 | +6.7% |
| Income taxes | 67/77 | €10,761 | €10,826 | +€65 | +0.6% |
| Profit (loss) for the period | 9904 | €18,121 | €19,998 | +€1,877 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,121 | €19,998 | +€1,877 | +10.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.