Kurt Neuskens: what changed
Kurt Neuskens
Largest movements
- Cash -€11,504
down €11,504 (-44.6%), from €25,822 to €14,318
mainly Investment in fixed assets (net) (-€11,142) and Current investments (-€10,000)
- Current investments +€10,000
new in 2025: €10,000
- Tangible fixed assets -€2,183
down €2,183 (-5.5%), from €40,013 to €37,830
of which Plant, machinery and equipment: -€2,942
- Intangible fixed assets +€2,037
new in 2025: €2,037
- Receivables within one year -€1,743
down €1,743 (-8.5%), from €20,573 to €18,830
of which Trade receivables: -€7,816
- Debts after one year -€9,660
down €9,660 (-41.5%), from €23,263 to €13,603
- Reserves +€7,027
up €7,027 (+17.3%), from €40,522 to €47,549
- Trade debts +€4,659
up €4,659 (+234%), from €1,991 to €6,650
- Accrued charges and deferred income -€2,322
down €2,322 (-100%), from €2,322 to €0
- Other debts -€2,260
down €2,260 (-100%), from €2,260 to €0
- Gross operating margin -€19,869
down €19,869 (-45.9%), from €43,315 to €23,446
- Taxes -€4,327
down €4,327 (-52.8%), from €8,201 to €3,875
- Depreciation +€4,146
up €4,146 (+58.0%), from €7,142 to €11,288
- Financial income +€463
up €463 (+15,632%), from €3 to €466
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,642 | €83,997 | -€3,645 | -4.2% |
| Fixed assets | 21/28 | €40,013 | €39,867 | -€146 | -0.4% |
| Intangible fixed assets | 21 | - | €2,037 | +€2,037 | |
| Tangible fixed assets | 22/27 | €40,013 | €37,830 | -€2,183 | -5.5% |
| Plant, machinery and equipment | 23 | €6,926 | €3,984 | -€2,942 | -42.5% |
| Furniture and vehicles | 24 | €33,087 | €33,846 | +€759 | +2.3% |
| Current assets | 29/58 | €47,628 | €44,130 | -€3,499 | -7.3% |
| Amounts receivable within one year | 40/41 | €20,573 | €18,830 | -€1,743 | -8.5% |
| Trade receivables | 40 | €20,521 | €12,705 | -€7,816 | -38.1% |
| Other amounts receivable | 41 | €51 | €6,125 | +€6,073 | +11,841% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €25,822 | €14,318 | -€11,504 | -44.6% |
| Deferred charges and accrued income | 490/1 | €1,234 | €982 | -€252 | -20.4% |
| Total equity and liabilities | 10/49 | €87,642 | €83,997 | -€3,645 | -4.2% |
| Equity | 10/15 | €43,522 | €50,549 | +€7,027 | +16.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €40,522 | €47,549 | +€7,027 | +17.3% |
| Distributable reserves | 133 | €40,522 | €47,549 | +€7,027 | +17.3% |
| Amounts payable | 17/49 | €44,120 | €33,448 | -€10,672 | -24.2% |
| Amounts payable after more than one year | 17 | €23,263 | €13,603 | -€9,660 | -41.5% |
| Financial debts | 170/4 | €23,263 | €13,603 | -€9,660 | -41.5% |
| Amounts payable within one year | 42/48 | €18,535 | €19,845 | +€1,310 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €9,219 | €9,660 | +€441 | +4.8% |
| Trade debts | 44 | €1,991 | €6,650 | +€4,659 | +234% |
| Suppliers | 440/4 | €1,991 | €6,650 | +€4,659 | +234% |
| Taxes, remuneration and social security | 45 | €5,065 | €3,535 | -€1,530 | -30.2% |
| Taxes | 450/3 | €5,065 | €3,535 | -€1,530 | -30.2% |
| Other amounts payable | 47/48 | €2,260 | €0 | -€2,260 | -100% |
| Accrued charges and deferred income | 492/3 | €2,322 | €0 | -€2,322 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,142 | €11,288 | +€4,146 | +58.0% |
| Other operating charges | 640/8 | €106 | €180 | +€74 | +69.7% |
| Gross operating margin | 9900 | €43,315 | €23,446 | -€19,869 | -45.9% |
| Operating profit (loss) | 9901 | €36,067 | €11,978 | -€24,089 | -66.8% |
| Financial income | 75/76B | €3 | €466 | +€463 | +15,632% |
| Recurring financial income | 75 | €3 | €466 | +€463 | +15,632% |
| Financial charges | 65/66B | €1,202 | €1,542 | +€340 | +28.3% |
| Recurring financial charges | 65 | €1,202 | €1,542 | +€340 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €34,867 | €10,902 | -€23,966 | -68.7% |
| Income taxes | 67/77 | €8,201 | €3,875 | -€4,327 | -52.8% |
| Profit (loss) for the period | 9904 | €26,666 | €7,027 | -€19,639 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,666 | €7,027 | -€19,639 | -73.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.