KUSE - INVEST: 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.
KUSE - INVEST
Largest movements
- Tangible fixed assets -€24,959
down €24,959 (-1.5%), from €1.7m to €1.6m
of which Land and buildings: -€24,959
- Debts after one year -€82,559
down €82,559 (-7.1%), from €1.2m to €1.1m
- Profit (loss) carried forward +€64,347
up €64,347 (+32.9%), from €195,487 to €259,834
- Other operating charges -€130,091
no longer reported in 2024 (was €130,091)
- Gross operating margin +€50,053
up €50,053 (+54.2%), from €92,318 to €142,371
- Financial charges +€35,121
up €35,121 (+258%), from €13,630 to €48,751
- Depreciation +€24,959
new in 2024: €24,959
- Taxes +€4,315
up €4,315, from €0 to €4,315
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,736,958 | €1,719,438 | -€17,520 | -1.0% |
| Fixed assets | 21/28 | €1,667,760 | €1,642,802 | -€24,959 | -1.5% |
| Tangible fixed assets | 22/27 | €1,667,760 | €1,642,802 | -€24,959 | -1.5% |
| Land and buildings | 22 | €1,667,760 | €1,642,802 | -€24,959 | -1.5% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €69,198 | €76,636 | +€7,439 | +10.7% |
| Amounts receivable within one year | 40/41 | €66,063 | €74,885 | +€8,822 | +13.4% |
| Other amounts receivable | 41 | €66,063 | €74,885 | +€8,822 | +13.4% |
| Cash at bank and in hand | 54/58 | €3,135 | €1,751 | -€1,384 | -44.1% |
| Total equity and liabilities | 10/49 | €1,736,958 | €1,719,438 | -€17,520 | -1.0% |
| Equity | 10/15 | €215,947 | €280,294 | +€64,347 | +29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,487 | €259,834 | +€64,347 | +32.9% |
| Amounts payable | 17/49 | €1,521,011 | €1,439,144 | -€81,867 | -5.4% |
| Amounts payable after more than one year | 17 | €1,170,491 | €1,087,932 | -€82,559 | -7.1% |
| Financial debts | 170/4 | €1,170,491 | €1,087,932 | -€82,559 | -7.1% |
| Amounts payable within one year | 42/48 | €343,970 | €344,662 | +€692 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €80,194 | €84,962 | +€4,768 | +5.9% |
| Financial debts | 43 | €3,828 | €3,814 | -€13 | -0.3% |
| Credit institutions | 430/8 | €3,828 | €3,814 | -€13 | -0.3% |
| Trade debts | 44 | €37,243 | €32,531 | -€4,712 | -12.7% |
| Suppliers | 440/4 | €37,243 | €32,531 | -€4,712 | -12.7% |
| Taxes, remuneration and social security | 45 | €40,690 | €43,090 | +€2,400 | +5.9% |
| Taxes | 450/3 | €6,190 | €6,190 | = | 0.0% |
| Remuneration and social security | 454/9 | €34,500 | €36,900 | +€2,400 | +7.0% |
| Other amounts payable | 47/48 | €182,016 | €180,266 | -€1,750 | -1.0% |
| Accrued charges and deferred income | 492/3 | €6,550 | €6,550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €24,959 | +€24,959 | |
| Other operating charges | 640/8 | €130,091 | - | -€130,091 | |
| Gross operating margin | 9900 | €92,318 | €142,371 | +€50,053 | +54.2% |
| Operating profit (loss) | 9901 | -€37,773 | €117,412 | +€155,185 | |
| Financial charges | 65/66B | €13,630 | €48,751 | +€35,121 | +258% |
| Recurring financial charges | 65 | €13,630 | €48,751 | +€35,121 | +258% |
| Profit (loss) for the period before taxes | 9903 | -€51,403 | €68,661 | +€120,064 | |
| Income taxes | 67/77 | €0 | €4,315 | +€4,315 | |
| Profit (loss) for the period | 9904 | -€51,403 | €64,347 | +€115,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€51,403 | €64,347 | +€115,750 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.