KUSCH + CO: 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.
KUSCH + CO
Largest movements
- Cash -€47,011
down €47,011 (-45.0%), from €104,454 to €57,443
mainly Contributions, distributions and other (-€400,000) and Net result for the year (-€65,142)
- Deferred charges and accrued income -€31,137
no longer reported in 2025 (was €31,137)
- Tangible fixed assets -€14,385
down €14,385 (-21.9%), from €65,636 to €51,251
of which Furniture and vehicles: -€13,925
- Reserves -€531,631
down €531,631 (-99.7%), from €533,491 to €1,859
of which Distributable reserves: -€531,631
- Other debts +€400,244
new in 2025: €400,244
- Profit (loss) carried forward +€66,490
new in 2025: €66,490
- Trade debts +€29,425
up €29,425 (+146.2%), from €20,125 to €49,550
- Short-term financial debts -€25,639
down €25,639 (-20.4%), from €125,639 to €100,000
- Gross operating margin -€77,954
down €77,954 (-60.0%), from €129,818 to €51,864
- Taxes -€11,251
down €11,251, from €10,430 to -€821
- Depreciation +€7,229
up €7,229 (+90.7%), from €7,973 to €15,202
- Staff costs +€6,027
up €6,027 (+6.6%), from €90,950 to €96,977
- Financial income -€1,788
down €1,788 (-20.1%), from €8,878 to €7,090
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 | €827,165 | €738,287 | -€88,878 | -10.7% |
| Fixed assets | 21/28 | €65,636 | €51,251 | -€14,385 | -21.9% |
| Tangible fixed assets | 22/27 | €65,636 | €51,251 | -€14,385 | -21.9% |
| Plant, machinery and equipment | 23 | €460 | €0 | -€460 | -100.0% |
| Furniture and vehicles | 24 | €65,176 | €51,251 | -€13,925 | -21.4% |
| Current assets | 29/58 | €761,529 | €687,036 | -€74,493 | -9.8% |
| Amounts receivable within one year | 40/41 | €625,938 | €629,593 | +€3,655 | +0.6% |
| Trade receivables | 40 | €266,399 | €62,931 | -€203,468 | -76.4% |
| Other amounts receivable | 41 | €359,539 | €566,662 | +€207,124 | +57.6% |
| Cash at bank and in hand | 54/58 | €104,454 | €57,443 | -€47,011 | -45.0% |
| Deferred charges and accrued income | 490/1 | €31,137 | - | -€31,137 | |
| Total equity and liabilities | 10/49 | €827,165 | €738,287 | -€88,878 | -10.7% |
| Equity | 10/15 | €552,083 | €86,941 | -€465,142 | -84.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €533,491 | €1,859 | -€531,631 | -99.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €531,631 | - | -€531,631 | |
| Profit (loss) carried forward | 14 | - | €66,490 | +€66,490 | |
| Amounts payable | 17/49 | €275,082 | €651,346 | +€376,263 | +136.8% |
| Amounts payable after more than one year | 17 | €41,434 | €30,142 | -€11,293 | -27.3% |
| Financial debts | 170/4 | €41,434 | €30,142 | -€11,293 | -27.3% |
| Amounts payable within one year | 42/48 | €233,648 | €621,204 | +€387,556 | +165.9% |
| Current portion of amounts payable after more than one year | 42 | €10,879 | €11,293 | +€413 | +3.8% |
| Financial debts | 43 | €125,639 | €100,000 | -€25,639 | -20.4% |
| Credit institutions | 430/8 | €125,639 | €100,000 | -€25,639 | -20.4% |
| Trade debts | 44 | €20,125 | €49,550 | +€29,425 | +146.2% |
| Suppliers | 440/4 | €20,125 | €49,550 | +€29,425 | +146.2% |
| Taxes, remuneration and social security | 45 | €77,005 | €60,117 | -€16,888 | -21.9% |
| Taxes | 450/3 | €58,296 | €60,117 | +€1,821 | +3.1% |
| Remuneration and social security | 454/9 | €18,709 | - | -€18,709 | |
| Other amounts payable | 47/48 | - | €400,244 | +€400,244 | |
| Non-recurring operating income | 76A | €41,322 | - | -€41,322 | |
| Remuneration, social security and pensions | 62 | €90,950 | €96,977 | +€6,027 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,973 | €15,202 | +€7,229 | +90.7% |
| Other operating charges | 640/8 | €2,418 | €1,723 | -€695 | -28.8% |
| Non-recurring operating charges | 66A | - | €3,795 | +€3,795 | |
| Gross operating margin | 9900 | €129,818 | €51,864 | -€77,954 | -60.0% |
| Operating profit (loss) | 9901 | €28,476 | -€65,833 | -€94,309 | |
| Financial income | 75/76B | €8,878 | €7,090 | -€1,788 | -20.1% |
| Recurring financial income | 75 | €8,878 | €7,090 | -€1,788 | -20.1% |
| Financial charges | 65/66B | €8,283 | €7,220 | -€1,063 | -12.8% |
| Recurring financial charges | 65 | €8,283 | €7,220 | -€1,063 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €29,072 | -€65,963 | -€95,034 | |
| Income taxes | 67/77 | €10,430 | -€821 | -€11,251 | |
| Profit (loss) for the period | 9904 | €18,641 | -€65,142 | -€83,783 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,641 | -€65,142 | -€83,783 |
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 10 October 2026 via checked.be.