KURT LAMBERT: 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.
KURT LAMBERT
Largest movements
- Cash -€19,163
down €19,163 (-13.7%), from €139,895 to €120,732
mainly Receivables within one year (-€14,738) and Debts after one year (-€9,873)
- Receivables within one year +€14,738
up €14,738 (+114.1%), from €12,922 to €27,660
of which Trade receivables: +€18,501
- Tangible fixed assets -€9,700
down €9,700 (-29.4%), from €32,986 to €23,286
of which Furniture and vehicles: -€9,238
- Debts after one year -€9,873
down €9,873 (-38.4%), from €25,742 to €15,869
- Reserves +€6,472
up €6,472 (+8.4%), from €77,427 to €83,899
of which Distributable reserves: +€6,472
- Trade debts -€5,786
down €5,786 (-21.9%), from €26,428 to €20,642
- Tax, wage and social debts -€4,126
down €4,126 (-54.6%), from €7,552 to €3,426
of which Remuneration and social security: -€3,001
- Staff costs -€25,636
down €25,636 (-23.4%), from €109,585 to €83,950
- Gross operating margin -€17,309
down €17,309 (-13.2%), from €130,906 to €113,596
- Depreciation +€5,351
up €5,351 (+40.7%), from €13,132 to €18,483
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 | €198,278 | €183,939 | -€14,339 | -7.2% |
| Fixed assets | 21/28 | €34,786 | €25,086 | -€9,700 | -27.9% |
| Tangible fixed assets | 22/27 | €32,986 | €23,286 | -€9,700 | -29.4% |
| Plant, machinery and equipment | 23 | €616 | €154 | -€462 | -75.1% |
| Furniture and vehicles | 24 | €32,370 | €23,132 | -€9,238 | -28.5% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €163,492 | €158,853 | -€4,638 | -2.8% |
| Amounts receivable within one year | 40/41 | €12,922 | €27,660 | +€14,738 | +114.1% |
| Trade receivables | 40 | €6,225 | €24,725 | +€18,501 | +297.2% |
| Other amounts receivable | 41 | €6,697 | €2,934 | -€3,763 | -56.2% |
| Cash at bank and in hand | 54/58 | €139,895 | €120,732 | -€19,163 | -13.7% |
| Deferred charges and accrued income | 490/1 | €10,675 | €10,461 | -€214 | -2.0% |
| Total equity and liabilities | 10/49 | €198,278 | €183,939 | -€14,339 | -7.2% |
| Equity | 10/15 | €105,066 | €111,538 | +€6,473 | +6.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €77,427 | €83,899 | +€6,472 | +8.4% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €58,677 | €65,149 | +€6,472 | +11.0% |
| Profit (loss) carried forward | 14 | €7,639 | €7,639 | +€1 | 0.0% |
| Amounts payable | 17/49 | €93,212 | €72,401 | -€20,811 | -22.3% |
| Amounts payable after more than one year | 17 | €25,742 | €15,869 | -€9,873 | -38.4% |
| Financial debts | 170/4 | €25,742 | €15,869 | -€9,873 | -38.4% |
| Amounts payable within one year | 42/48 | €58,470 | €47,475 | -€10,995 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €11,206 | €9,873 | -€1,333 | -11.9% |
| Trade debts | 44 | €26,428 | €20,642 | -€5,786 | -21.9% |
| Suppliers | 440/4 | €26,428 | €20,642 | -€5,786 | -21.9% |
| Advances received on contracts in progress | 46 | - | €250 | +€250 | |
| Taxes, remuneration and social security | 45 | €7,552 | €3,426 | -€4,126 | -54.6% |
| Taxes | 450/3 | €2,921 | €1,797 | -€1,124 | -38.5% |
| Remuneration and social security | 454/9 | €4,631 | €1,630 | -€3,001 | -64.8% |
| Other amounts payable | 47/48 | €13,284 | €13,284 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9,000 | €9,057 | +€57 | +0.6% |
| Remuneration, social security and pensions | 62 | €109,585 | €83,950 | -€25,636 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,132 | €18,483 | +€5,351 | +40.7% |
| Other operating charges | 640/8 | €1,765 | €1,460 | -€305 | -17.3% |
| Gross operating margin | 9900 | €130,906 | €113,596 | -€17,309 | -13.2% |
| Operating profit (loss) | 9901 | €6,423 | €9,703 | +€3,280 | +51.1% |
| Financial income | 75/76B | €309 | €85 | -€224 | -72.6% |
| Recurring financial income | 75 | €309 | €85 | -€224 | -72.6% |
| Financial charges | 65/66B | €1,318 | €1,046 | -€272 | -20.7% |
| Recurring financial charges | 65 | €1,318 | €1,046 | -€272 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €5,414 | €8,742 | +€3,328 | +61.5% |
| Income taxes | 67/77 | - | €670 | +€670 | |
| Profit (loss) for the period | 9904 | €5,414 | €8,073 | +€2,658 | +49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,414 | €8,073 | +€2,658 | +49.1% |
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 10 October 2026 via checked.be.