KUSVÂ: 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.
KUSVÂ
Largest movements
- Tangible fixed assets -€20,287
down €20,287 (-35.3%), from €57,509 to €37,222
of which Furniture and vehicles: -€11,986
- Receivables within one year +€10,133
up €10,133 (+11.4%), from €89,186 to €99,319
of which Other amounts receivable: +€11,408
- Cash -€6,592
down €6,592 (-17.6%), from €37,470 to €30,878
mainly Debts after one year (-€17,908) and Receivables within one year (-€10,133)
- Debts after one year -€17,908
down €17,908 (-46.6%), from €38,456 to €20,547
- Profit (loss) carried forward -€2,073
down €2,073 (-2.0%), from €101,864 to €99,792
- Gross operating margin -€60,262
down €60,262 (-69.3%), from €86,921 to €26,659
- Staff costs -€40,671
down €40,671 (-90.8%), from €44,771 to €4,100
- Taxes -€2,792
down €2,792 (-55.8%), from €5,000 to €2,208
- Financial charges -€1,820
down €1,820 (-31.6%), from €5,757 to €3,938
- Other operating charges +€1,070
up €1,070 (+106.9%), from €1,001 to €2,070
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 | €184,165 | €167,419 | -€16,745 | -9.1% |
| Fixed assets | 21/28 | €57,509 | €37,222 | -€20,287 | -35.3% |
| Tangible fixed assets | 22/27 | €57,509 | €37,222 | -€20,287 | -35.3% |
| Furniture and vehicles | 24 | €26,534 | €14,547 | -€11,986 | -45.2% |
| Leasing and similar rights | 25 | €30,975 | €22,675 | -€8,301 | -26.8% |
| Current assets | 29/58 | €126,656 | €130,197 | +€3,541 | +2.8% |
| Amounts receivable within one year | 40/41 | €89,186 | €99,319 | +€10,133 | +11.4% |
| Trade receivables | 40 | €16,863 | €15,588 | -€1,275 | -7.6% |
| Other amounts receivable | 41 | €72,323 | €83,731 | +€11,408 | +15.8% |
| Cash at bank and in hand | 54/58 | €37,470 | €30,878 | -€6,592 | -17.6% |
| Total equity and liabilities | 10/49 | €184,165 | €167,419 | -€16,745 | -9.1% |
| Equity | 10/15 | €122,324 | €120,252 | -€2,073 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,864 | €99,792 | -€2,073 | -2.0% |
| Amounts payable | 17/49 | €61,840 | €47,168 | -€14,672 | -23.7% |
| Amounts payable after more than one year | 17 | €38,456 | €20,547 | -€17,908 | -46.6% |
| Financial debts | 170/4 | €38,456 | €20,547 | -€17,908 | -46.6% |
| Amounts payable within one year | 42/48 | €23,385 | €26,621 | +€3,236 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €16,963 | €17,908 | +€946 | +5.6% |
| Trade debts | 44 | €122 | €1,137 | +€1,015 | +833.3% |
| Suppliers | 440/4 | €122 | €1,137 | +€1,015 | +833.3% |
| Taxes, remuneration and social security | 45 | €6,300 | €7,575 | +€1,275 | +20.2% |
| Taxes | 450/3 | €500 | €2,175 | +€1,675 | +335.0% |
| Remuneration and social security | 454/9 | €5,800 | €5,400 | -€400 | -6.9% |
| Remuneration, social security and pensions | 62 | €44,771 | €4,100 | -€40,671 | -90.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,287 | €20,287 | = | 0.0% |
| Other operating charges | 640/8 | €1,001 | €2,070 | +€1,070 | +106.9% |
| Gross operating margin | 9900 | €86,921 | €26,659 | -€60,262 | -69.3% |
| Operating profit (loss) | 9901 | €20,863 | €202 | -€20,661 | -99.0% |
| Financial income | 75/76B | €3,330 | €3,871 | +€541 | +16.2% |
| Recurring financial income | 75 | €3,330 | €3,871 | +€541 | +16.2% |
| Financial charges | 65/66B | €5,757 | €3,938 | -€1,820 | -31.6% |
| Recurring financial charges | 65 | €5,757 | €3,938 | -€1,820 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €18,435 | €135 | -€18,301 | -99.3% |
| Income taxes | 67/77 | €5,000 | €2,208 | -€2,792 | -55.8% |
| Profit (loss) for the period | 9904 | €13,435 | -€2,073 | -€15,508 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,435 | -€2,073 | -€15,508 |
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 8 October 2026 via checked.be.