KURT & PARTNERS: 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 & PARTNERS
Largest movements
- Receivables after one year -€28,000
no longer reported in 2025 (was €28,000)
- Cash +€23,338
up €23,338 (+527.8%), from €4,422 to €27,760
mainly Receivables after one year (+€28,000) and Trade debts (+€16,278)
- Receivables within one year +€21,967
up €21,967 (+230.8%), from €9,516 to €31,483
- Tangible fixed assets +€13,497
up €13,497 (+173.3%), from €7,788 to €21,285
of which Other tangible fixed assets: +€15,125
- Deferred charges and accrued income -€949
no longer reported in 2025 (was €949)
- Trade debts +€16,278
up €16,278 (+381.7%), from €4,265 to €20,543
- Profit (loss) carried forward -€16,146
down €16,146 (-73.1%), from €22,076 to €5,930
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Debts after one year +€11,625
new in 2025: €11,625
- Current portion of long-term debt +€8,887
new in 2025: €8,887
- Taxes -€8,571
down €8,571 (-57.1%), from €15,012 to €6,441
- Other operating charges +€4,793
up €4,793 (+363.4%), from €1,319 to €6,112
- Gross operating margin -€3,284
down €3,284 (-10.0%), from €32,874 to €29,590
- Financial income -€560
no longer reported in 2025 (was €560)
- Depreciation +€432
up €432 (+17.4%), from €2,477 to €2,909
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 | €50,675 | €80,528 | +€29,853 | +58.9% |
| Fixed assets | 21/28 | €7,788 | €21,285 | +€13,497 | +173.3% |
| Tangible fixed assets | 22/27 | €7,788 | €21,285 | +€13,497 | +173.3% |
| Furniture and vehicles | 24 | €7,788 | €6,160 | -€1,628 | -20.9% |
| Other tangible fixed assets | 26 | - | €15,125 | +€15,125 | |
| Current assets | 29/58 | €42,887 | €59,243 | +€16,356 | +38.1% |
| Amounts receivable after more than one year | 29 | €28,000 | - | -€28,000 | |
| Trade receivables | 290 | €28,000 | - | -€28,000 | |
| Amounts receivable within one year | 40/41 | €9,516 | €31,483 | +€21,967 | +230.8% |
| Trade receivables | 40 | €9,516 | €31,483 | +€21,967 | +230.8% |
| Cash at bank and in hand | 54/58 | €4,422 | €27,760 | +€23,338 | +527.8% |
| Deferred charges and accrued income | 490/1 | €949 | - | -€949 | |
| Total equity and liabilities | 10/49 | €50,675 | €80,528 | +€29,853 | +58.9% |
| Equity | 10/15 | €28,276 | €24,530 | -€3,746 | -13.2% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Profit (loss) carried forward | 14 | €22,076 | €5,930 | -€16,146 | -73.1% |
| Amounts payable | 17/49 | €22,399 | €55,998 | +€33,599 | +150.0% |
| Amounts payable after more than one year | 17 | - | €11,625 | +€11,625 | |
| Financial debts | 170/4 | - | €11,625 | +€11,625 | |
| Amounts payable within one year | 42/48 | €22,399 | €44,373 | +€21,974 | +98.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,887 | +€8,887 | |
| Trade debts | 44 | €4,265 | €20,543 | +€16,278 | +381.7% |
| Suppliers | 440/4 | €4,265 | €20,543 | +€16,278 | +381.7% |
| Taxes, remuneration and social security | 45 | €17,682 | €14,452 | -€3,230 | -18.3% |
| Taxes | 450/3 | €17,682 | €14,452 | -€3,230 | -18.3% |
| Other amounts payable | 47/48 | €452 | €491 | +€39 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,477 | €2,909 | +€432 | +17.4% |
| Other operating charges | 640/8 | €1,319 | €6,112 | +€4,793 | +363.4% |
| Gross operating margin | 9900 | €32,874 | €29,590 | -€3,284 | -10.0% |
| Operating profit (loss) | 9901 | €29,078 | €20,569 | -€8,509 | -29.3% |
| Financial income | 75/76B | €560 | - | -€560 | |
| Recurring financial income | 75 | €560 | - | -€560 | |
| Financial charges | 65/66B | €1,161 | €1,274 | +€113 | +9.7% |
| Recurring financial charges | 65 | €1,161 | €1,274 | +€113 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €28,477 | €19,295 | -€9,182 | -32.2% |
| Income taxes | 67/77 | €15,012 | €6,441 | -€8,571 | -57.1% |
| Profit (loss) for the period | 9904 | €13,465 | €12,854 | -€611 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,465 | €12,854 | -€611 | -4.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.