KUSTERMANS & 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.
KUSTERMANS & CO
Largest movements
- Tangible fixed assets +€303,440
up €303,440 (+127%), from €238,392 to €541,832
of which Furniture and vehicles: +€250,847
- Receivables within one year +€131,744
up €131,744 (+109%), from €121,281 to €253,025
of which Trade receivables: +€120,680
- Cash -€36,368
down €36,368 (-95.4%), from €38,130 to €1,762
mainly Investment in fixed assets (net) (-€382,595) and Receivables within one year (-€131,744)
- Debts after one year +€223,293
up €223,293 (+162%), from €137,891 to €361,184
- Reserves +€98,249
up €98,249 (+125%), from €78,860 to €177,109
of which Tax-exempt reserves: +€78,214
- Trade debts +€53,349
up €53,349 (+90.9%), from €58,721 to €112,071
- Tax, wage and social debts -€46,383
down €46,383 (-89.7%), from €51,716 to €5,333
of which Taxes: -€38,667
- Current portion of long-term debt +€43,034
up €43,034 (+99.9%), from €43,056 to €86,090
- Gross operating margin +€119,357
up €119,357 (+41.1%), from €290,250 to €409,606
- Staff costs +€44,827
up €44,827 (+31.4%), from €142,742 to €187,568
- Taxes -€27,974
down €27,974 (-95.9%), from €29,175 to €1,201
- Depreciation +€13,830
up €13,830 (+21.2%), from €65,325 to €79,155
- Financial charges +€6,563
up €6,563 (+99.9%), from €6,567 to €13,129
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 | €412,039 | €814,840 | +€402,801 | +97.8% |
| Fixed assets | 21/28 | €238,517 | €541,957 | +€303,440 | +127% |
| Tangible fixed assets | 22/27 | €238,392 | €541,832 | +€303,440 | +127% |
| Land and buildings | 22 | €160,915 | €152,815 | -€8,100 | -5.0% |
| Plant, machinery and equipment | 23 | €19,702 | €43,368 | +€23,666 | +120% |
| Furniture and vehicles | 24 | €57,775 | €308,622 | +€250,847 | +434% |
| Leasing and similar rights | 25 | - | €37,027 | +€37,027 | |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €173,522 | €272,883 | +€99,361 | +57.3% |
| Amounts receivable within one year | 40/41 | €121,281 | €253,025 | +€131,744 | +109% |
| Trade receivables | 40 | €71,182 | €191,862 | +€120,680 | +170% |
| Other amounts receivable | 41 | €50,099 | €61,163 | +€11,064 | +22.1% |
| Cash at bank and in hand | 54/58 | €38,130 | €1,762 | -€36,368 | -95.4% |
| Deferred charges and accrued income | 490/1 | €14,111 | €18,097 | +€3,986 | +28.2% |
| Total equity and liabilities | 10/49 | €412,039 | €814,840 | +€402,801 | +97.8% |
| Equity | 10/15 | €111,155 | €209,403 | +€98,249 | +88.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,860 | €177,109 | +€98,249 | +125% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €78,214 | +€78,214 | |
| Distributable reserves | 133 | €77,000 | €97,035 | +€20,035 | +26.0% |
| Profit (loss) carried forward | 14 | €13,695 | €13,695 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €19,553 | +€19,553 | |
| Deferred taxes | 168 | - | €19,553 | +€19,553 | |
| Amounts payable | 17/49 | €300,885 | €585,884 | +€284,999 | +94.7% |
| Amounts payable after more than one year | 17 | €137,891 | €361,184 | +€223,293 | +162% |
| Financial debts | 170/4 | €137,891 | €361,184 | +€223,293 | +162% |
| Amounts payable within one year | 42/48 | €162,994 | €203,493 | +€40,500 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €43,056 | €86,090 | +€43,034 | +99.9% |
| Trade debts | 44 | €58,721 | €112,071 | +€53,349 | +90.9% |
| Suppliers | 440/4 | €58,721 | €112,071 | +€53,349 | +90.9% |
| Taxes, remuneration and social security | 45 | €51,716 | €5,333 | -€46,383 | -89.7% |
| Taxes | 450/3 | €39,341 | €673 | -€38,667 | -98.3% |
| Remuneration and social security | 454/9 | €12,375 | €4,659 | -€7,716 | -62.3% |
| Other amounts payable | 47/48 | €9,500 | €0 | -€9,500 | -100% |
| Accrued charges and deferred income | 492/3 | - | €21,206 | +€21,206 | |
| Remuneration, social security and pensions | 62 | €142,742 | €187,568 | +€44,827 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,325 | €79,155 | +€13,830 | +21.2% |
| Other operating charges | 640/8 | €17,297 | €11,013 | -€6,284 | -36.3% |
| Gross operating margin | 9900 | €290,250 | €409,606 | +€119,357 | +41.1% |
| Operating profit (loss) | 9901 | €64,886 | €131,870 | +€66,984 | +103% |
| Financial income | 75/76B | €0 | €263 | +€262 | +63,995% |
| Recurring financial income | 75 | €0 | €263 | +€262 | +63,995% |
| Financial charges | 65/66B | €6,567 | €13,129 | +€6,563 | +99.9% |
| Recurring financial charges | 65 | €6,567 | €13,129 | +€6,563 | +99.9% |
| Profit (loss) for the period before taxes | 9903 | €58,320 | €119,003 | +€60,684 | +104% |
| Transfer from deferred taxes | 780 | €1,300 | €2,434 | +€1,134 | +87.2% |
| Transfer to deferred taxes | 680 | - | €21,987 | +€21,987 | |
| Income taxes | 67/77 | €29,175 | €1,201 | -€27,974 | -95.9% |
| Profit (loss) for the period | 9904 | €30,444 | €98,249 | +€67,804 | +223% |
| Transfer from tax-exempt reserves | 789 | €5,200 | €9,735 | +€4,535 | +87.2% |
| Transfer to tax-exempt reserves | 689 | - | €87,948 | +€87,948 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,644 | €20,035 | -€15,609 | -43.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.