KUS-PROJECTS: what changed
Two fiscal 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.
KUS-PROJECTS
Largest movements
- Cash -€56,403
down €56,403 (-98.9%), from €57,021 to €618
mainly Other debts (-€153,329) and Tax, wage and social debts (-€55,352)
- Stocks and contracts +€35,523
up €35,523 (+17.8%), from €199,477 to €235,000
- Receivables within one year -€34,938
down €34,938 (-15.2%), from €229,558 to €194,620
of which Trade receivables: -€46,284
- Short-term financial debts +€163,835
new in 2025: €163,835
- Other debts -€153,329
down €153,329 (-82.3%), from €186,246 to €32,916
- Tax, wage and social debts -€55,352
down €55,352 (-84.6%), from €65,420 to €10,069
- Trade debts -€21,930
no longer reported in 2025 (was €21,930)
- Profit (loss) carried forward +€10,958
up €10,958 (+87.2%), from €12,569 to €23,526
- Gross operating margin -€21,521
down €21,521, from €20,458 to -€1,062
- Financial income +€18,072
new in 2025: €18,072
of which Financial income: +€18,072
- Financial charges -€6,840
down €6,840 (-73.2%), from €9,347 to €2,507
- Taxes -€5,061
down €5,061 (-84.1%), from €6,020 to €958
- Other operating charges +€704
up €704 (+37.4%), from €1,882 to €2,586
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 | €486,055 | €430,237 | -€55,818 | -11.5% |
| Current assets | 29/58 | €486,055 | €430,237 | -€55,818 | -11.5% |
| Stocks and contracts in progress | 3 | €199,477 | €235,000 | +€35,523 | +17.8% |
| Stocks | 30/36 | €199,477 | €235,000 | +€35,523 | +17.8% |
| Amounts receivable within one year | 40/41 | €229,558 | €194,620 | -€34,938 | -15.2% |
| Trade receivables | 40 | €82,584 | €36,300 | -€46,284 | -56.0% |
| Other amounts receivable | 41 | €146,974 | €158,320 | +€11,346 | +7.7% |
| Cash at bank and in hand | 54/58 | €57,021 | €618 | -€56,403 | -98.9% |
| Total equity and liabilities | 10/49 | €486,055 | €430,237 | -€55,818 | -11.5% |
| Equity | 10/15 | €212,460 | €223,417 | +€10,958 | +5.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €174,891 | €174,891 | = | 0.0% |
| Distributable reserves | 133 | €174,891 | €174,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,569 | €23,526 | +€10,958 | +87.2% |
| Amounts payable | 17/49 | €273,596 | €206,820 | -€66,775 | -24.4% |
| Amounts payable within one year | 42/48 | €273,596 | €206,820 | -€66,775 | -24.4% |
| Financial debts | 43 | - | €163,835 | +€163,835 | |
| Credit institutions | 430/8 | - | €163,835 | +€163,835 | |
| Trade debts | 44 | €21,930 | - | -€21,930 | |
| Suppliers | 440/4 | €21,930 | - | -€21,930 | |
| Taxes, remuneration and social security | 45 | €65,420 | €10,069 | -€55,352 | -84.6% |
| Taxes | 450/3 | €65,420 | €10,069 | -€55,352 | -84.6% |
| Other amounts payable | 47/48 | €186,246 | €32,916 | -€153,329 | -82.3% |
| Other operating charges | 640/8 | €1,882 | €2,586 | +€704 | +37.4% |
| Gross operating margin | 9900 | €20,458 | -€1,062 | -€21,521 | |
| Operating profit (loss) | 9901 | €18,576 | -€3,649 | -€22,225 | |
| Financial income | 75/76B | - | €18,072 | +€18,072 | |
| Recurring financial income | 75 | - | €18,072 | +€18,072 | |
| Non-recurring financial income | 76B | - | €18,072 | +€18,072 | |
| Financial charges | 65/66B | €9,347 | €2,507 | -€6,840 | -73.2% |
| Recurring financial charges | 65 | €9,347 | €2,507 | -€6,840 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | €9,229 | €11,916 | +€2,687 | +29.1% |
| Income taxes | 67/77 | €6,020 | €958 | -€5,061 | -84.1% |
| Profit (loss) for the period | 9904 | €3,210 | €10,958 | +€7,748 | +241.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,210 | €10,958 | +€7,748 | +241.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.