KURT MANAGEMENT CONSULTING & ENGINEERING SUPPORT: 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 MANAGEMENT CONSULTING & ENGINEERING SUPPORT
Largest movements
- Cash -€19,884
down €19,884 (-12.7%), from €156,202 to €136,318
mainly Other debts (-€34,509) and Investment in fixed assets (net) (-€32,003)
- Tangible fixed assets +€5,868
up €5,868 (+3.1%), from €186,300 to €192,168
of which Land and buildings: +€8,684
- Reserves +€41,816
up €41,816 (+20.4%), from €204,629 to €246,445
- Other debts -€34,509
down €34,509 (-67.8%), from €50,902 to €16,393
- Debts after one year -€15,848
down €15,848 (-85.4%), from €18,550 to €2,702
- Current portion of long-term debt -€5,878
down €5,878 (-27.1%), from €21,726 to €15,848
- Depreciation -€14,340
down €14,340 (-35.4%), from €40,475 to €26,135
- Taxes +€3,936
up €3,936 (+24.0%), from €16,390 to €20,326
- Gross operating margin +€3,050
up €3,050 (+3.4%), from €90,798 to €93,848
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 | €364,947 | €350,092 | -€14,855 | -4.1% |
| Fixed assets | 21/28 | €186,300 | €192,168 | +€5,868 | +3.1% |
| Tangible fixed assets | 22/27 | €186,300 | €192,168 | +€5,868 | +3.1% |
| Land and buildings | 22 | €150,376 | €159,060 | +€8,684 | +5.8% |
| Plant, machinery and equipment | 23 | €35,456 | €32,970 | -€2,486 | -7.0% |
| Furniture and vehicles | 24 | €468 | €138 | -€330 | -70.5% |
| Current assets | 29/58 | €178,647 | €157,924 | -€20,723 | -11.6% |
| Amounts receivable within one year | 40/41 | €22,445 | €20,583 | -€1,862 | -8.3% |
| Trade receivables | 40 | €19,300 | €19,300 | = | 0.0% |
| Other amounts receivable | 41 | €3,145 | €1,283 | -€1,862 | -59.2% |
| Cash at bank and in hand | 54/58 | €156,202 | €136,318 | -€19,884 | -12.7% |
| Deferred charges and accrued income | 490/1 | - | €1,023 | +€1,023 | |
| Total equity and liabilities | 10/49 | €364,947 | €350,092 | -€14,855 | -4.1% |
| Equity | 10/15 | €261,978 | €303,794 | +€41,816 | +16.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €204,629 | €246,445 | +€41,816 | +20.4% |
| Distributable reserves | 133 | €204,629 | €246,445 | +€41,816 | +20.4% |
| Profit (loss) carried forward | 14 | €51,149 | €51,149 | = | 0.0% |
| Amounts payable | 17/49 | €102,969 | €46,298 | -€56,671 | -55.0% |
| Amounts payable after more than one year | 17 | €18,550 | €2,702 | -€15,848 | -85.4% |
| Financial debts | 170/4 | €18,550 | €2,702 | -€15,848 | -85.4% |
| Amounts payable within one year | 42/48 | €83,539 | €42,688 | -€40,851 | -48.9% |
| Current portion of amounts payable after more than one year | 42 | €21,726 | €15,848 | -€5,878 | -27.1% |
| Trade debts | 44 | €7,999 | €5,676 | -€2,323 | -29.0% |
| Suppliers | 440/4 | €7,999 | €5,676 | -€2,323 | -29.0% |
| Taxes, remuneration and social security | 45 | €2,912 | €4,771 | +€1,859 | +63.8% |
| Taxes | 450/3 | €2,912 | €4,771 | +€1,859 | +63.8% |
| Other amounts payable | 47/48 | €50,902 | €16,393 | -€34,509 | -67.8% |
| Accrued charges and deferred income | 492/3 | €880 | €908 | +€28 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,475 | €26,135 | -€14,340 | -35.4% |
| Other operating charges | 640/8 | €421 | €420 | -€1 | -0.2% |
| Gross operating margin | 9900 | €90,798 | €93,848 | +€3,050 | +3.4% |
| Operating profit (loss) | 9901 | €49,902 | €67,293 | +€17,391 | +34.9% |
| Financial income | 75/76B | €4,144 | €4,184 | +€40 | +1.0% |
| Recurring financial income | 75 | €4,144 | €4,184 | +€40 | +1.0% |
| Financial charges | 65/66B | €1,243 | €1,135 | -€108 | -8.7% |
| Recurring financial charges | 65 | €1,243 | €1,135 | -€108 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €52,803 | €70,342 | +€17,539 | +33.2% |
| Income taxes | 67/77 | €16,390 | €20,326 | +€3,936 | +24.0% |
| Profit (loss) for the period | 9904 | €36,413 | €50,016 | +€13,603 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,413 | €50,016 | +€13,603 | +37.4% |
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 31 October 2026 via checked.be.