KURTHHUIS: 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.
KURTHHUIS
Largest movements
- Tangible fixed assets +€24,981
up €24,981 (+4.5%), from €549,302 to €574,283
of which Plant, machinery and equipment: +€15,525
- Profit (loss) carried forward +€24,446
up €24,446 (+7.5%), from -€325,413 to -€300,967
- Reserves -€17,208
down €17,208 (-6.0%), from €288,743 to €271,536
- Debts after one year +€12,871
up €12,871 (+6.3%), from €202,939 to €215,810
- Current portion of long-term debt +€8,806
up €8,806 (+51.5%), from €17,085 to €25,891
- Other debts -€7,500
down €7,500 (-4.3%), from €173,381 to €165,881
- Taxes +€5,518
up €5,518 (+1,135%), from €486 to €6,004
- Gross operating margin -€5,006
down €5,006 (-8.9%), from €56,193 to €51,187
- Depreciation -€3,652
down €3,652 (-8.5%), from €43,009 to €39,357
- Other operating charges -€2,786
down €2,786 (-94.5%), from €2,948 to €162
- Financial charges +€573
up €573 (+16.0%), from €3,588 to €4,162
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 | €560,347 | €583,722 | +€23,375 | +4.2% |
| Fixed assets | 21/28 | €549,902 | €574,883 | +€24,981 | +4.5% |
| Tangible fixed assets | 22/27 | €549,302 | €574,283 | +€24,981 | +4.5% |
| Land and buildings | 22 | €548,880 | €558,745 | +€9,865 | +1.8% |
| Plant, machinery and equipment | 23 | - | €15,525 | +€15,525 | |
| Other tangible fixed assets | 26 | €422 | €13 | -€409 | -96.9% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €10,445 | €8,839 | -€1,605 | -15.4% |
| Amounts receivable within one year | 40/41 | €504 | €14 | -€490 | -97.2% |
| Trade receivables | 40 | €369 | €0 | -€369 | -100% |
| Other amounts receivable | 41 | €135 | €14 | -€121 | -89.4% |
| Cash at bank and in hand | 54/58 | €9,941 | €8,825 | -€1,116 | -11.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €560,347 | €583,722 | +€23,375 | +4.2% |
| Equity | 10/15 | €68,685 | €75,924 | +€7,239 | +10.5% |
| Contributions | 10/11 | €105,355 | €105,355 | = | 0.0% |
| Reserves | 13 | €288,743 | €271,536 | -€17,208 | -6.0% |
| Tax-exempt reserves | 132 | €288,743 | €271,536 | -€17,208 | -6.0% |
| Profit (loss) carried forward | 14 | -€325,413 | -€300,967 | +€24,446 | +7.5% |
| Provisions and deferred taxes | 16 | €96,248 | €90,512 | -€5,736 | -6.0% |
| Deferred taxes | 168 | €96,248 | €90,512 | -€5,736 | -6.0% |
| Amounts payable | 17/49 | €395,414 | €417,286 | +€21,872 | +5.5% |
| Amounts payable after more than one year | 17 | €202,939 | €215,810 | +€12,871 | +6.3% |
| Financial debts | 170/4 | €202,939 | €215,810 | +€12,871 | +6.3% |
| Amounts payable within one year | 42/48 | €192,475 | €201,476 | +€9,002 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €17,085 | €25,891 | +€8,806 | +51.5% |
| Trade debts | 44 | €1,522 | €3,470 | +€1,948 | +128% |
| Suppliers | 440/4 | €1,522 | €3,470 | +€1,948 | +128% |
| Taxes, remuneration and social security | 45 | €486 | €6,235 | +€5,748 | +1,182% |
| Taxes | 450/3 | €486 | €6,235 | +€5,748 | +1,182% |
| Other amounts payable | 47/48 | €173,381 | €165,881 | -€7,500 | -4.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,009 | €39,357 | -€3,652 | -8.5% |
| Other operating charges | 640/8 | €2,948 | €162 | -€2,786 | -94.5% |
| Gross operating margin | 9900 | €56,193 | €51,187 | -€5,006 | -8.9% |
| Operating profit (loss) | 9901 | €10,236 | €11,668 | +€1,433 | +14.0% |
| Financial income | 75/76B | €47 | €0 | -€47 | -100% |
| Recurring financial income | 75 | €47 | €0 | -€47 | -100% |
| Financial charges | 65/66B | €3,588 | €4,162 | +€573 | +16.0% |
| Recurring financial charges | 65 | €3,588 | €4,162 | +€573 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €6,695 | €7,507 | +€812 | +12.1% |
| Transfer from deferred taxes | 780 | €4,961 | €5,736 | +€775 | +15.6% |
| Income taxes | 67/77 | €486 | €6,004 | +€5,518 | +1,135% |
| Profit (loss) for the period | 9904 | €11,170 | €7,239 | -€3,931 | -35.2% |
| Transfer from tax-exempt reserves | 789 | €14,884 | €17,208 | +€2,324 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,053 | €24,446 | -€1,607 | -6.2% |
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 19 October 2026 via checked.be.