KURTOGLU COMPANY: what changed
KURTOGLU COMPANY
Largest movements
- Cash -€30,153
no longer reported in 2025 (was €30,153)
mainly Investment in fixed assets (net) (-€24,500) and Net result for the year (-€21,922)
- Intangible fixed assets +€18,367
new in 2025: €18,367
- Tangible fixed assets -€5,708
down €5,708 (-29.5%), from €19,343 to €13,636
- Financial fixed assets +€4,500
new in 2025: €4,500
- Receivables within one year -€4,448
down €4,448 (-61.3%), from €7,261 to €2,812
of which Trade receivables: -€3,416
- Profit (loss) carried forward -€21,922
down €21,922 (-82.5%), from €26,561 to €4,639
- Tax, wage and social debts +€4,827
up €4,827 (+132%), from €3,660 to €8,487
of which Remuneration and social security: +€4,158
- Debts after one year -€4,174
down €4,174 (-39.9%), from €10,470 to €6,296
- Other debts +€2,149
up €2,149 (+28.3%), from €7,601 to €9,750
- Trade debts +€975
up €975 (+194%), from €503 to €1,478
- Gross operating margin -€21,182
down €21,182 (-92.0%), from €23,012 to €1,830
- Staff costs +€12,385
new in 2025: €12,385
- Depreciation +€3,853
up €3,853 (+111%), from €3,487 to €7,341
- Taxes -€3,657
no longer reported in 2025 (was €3,657)
- Other operating charges +€1,088
up €1,088 (+65.4%), from €1,663 to €2,751
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 | €56,757 | €39,641 | -€17,117 | -30.2% |
| Fixed assets | 21/28 | €19,343 | €36,503 | +€17,159 | +88.7% |
| Intangible fixed assets | 21 | - | €18,367 | +€18,367 | |
| Tangible fixed assets | 22/27 | €19,343 | €13,636 | -€5,708 | -29.5% |
| Furniture and vehicles | 24 | €19,343 | €13,636 | -€5,708 | -29.5% |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €37,414 | €3,138 | -€34,276 | -91.6% |
| Stocks and contracts in progress | 3 | - | €326 | +€326 | |
| Stocks | 30/36 | - | €326 | +€326 | |
| Amounts receivable within one year | 40/41 | €7,261 | €2,812 | -€4,448 | -61.3% |
| Trade receivables | 40 | €6,229 | €2,812 | -€3,416 | -54.9% |
| Other amounts receivable | 41 | €1,032 | - | -€1,032 | |
| Cash at bank and in hand | 54/58 | €30,153 | - | -€30,153 | |
| Total equity and liabilities | 10/49 | €56,757 | €39,641 | -€17,117 | -30.2% |
| Equity | 10/15 | €30,561 | €8,639 | -€21,922 | -71.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,561 | €4,639 | -€21,922 | -82.5% |
| Amounts payable | 17/49 | €26,197 | €31,002 | +€4,805 | +18.3% |
| Amounts payable after more than one year | 17 | €10,470 | €6,296 | -€4,174 | -39.9% |
| Financial debts | 170/4 | €10,470 | €6,296 | -€4,174 | -39.9% |
| Amounts payable within one year | 42/48 | €15,726 | €24,705 | +€8,979 | +57.1% |
| Current portion of amounts payable after more than one year | 42 | €3,963 | €4,174 | +€211 | +5.3% |
| Financial debts | 43 | - | €817 | +€817 | |
| Credit institutions | 430/8 | - | €817 | +€817 | |
| Trade debts | 44 | €503 | €1,478 | +€975 | +194% |
| Suppliers | 440/4 | €503 | €1,478 | +€975 | +194% |
| Taxes, remuneration and social security | 45 | €3,660 | €8,487 | +€4,827 | +132% |
| Taxes | 450/3 | €3,660 | €4,329 | +€669 | +18.3% |
| Remuneration and social security | 454/9 | - | €4,158 | +€4,158 | |
| Other amounts payable | 47/48 | €7,601 | €9,750 | +€2,149 | +28.3% |
| Remuneration, social security and pensions | 62 | - | €12,385 | +€12,385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,487 | €7,341 | +€3,853 | +111% |
| Other operating charges | 640/8 | €1,663 | €2,751 | +€1,088 | +65.4% |
| Non-recurring operating charges | 66A | €4,953 | - | -€4,953 | |
| Gross operating margin | 9900 | €23,012 | €1,830 | -€21,182 | -92.0% |
| Operating profit (loss) | 9901 | €12,909 | -€20,647 | -€33,556 | |
| Financial charges | 65/66B | €736 | €1,275 | +€539 | +73.1% |
| Recurring financial charges | 65 | €736 | €1,275 | +€539 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | €12,173 | -€21,922 | -€34,095 | |
| Income taxes | 67/77 | €3,657 | - | -€3,657 | |
| Profit (loss) for the period | 9904 | €8,516 | -€21,922 | -€30,438 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,516 | -€21,922 | -€30,438 |
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 2 November 2026 via checked.be.