KUZEY GROUP: 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.
KUZEY GROUP
Largest movements
- Tangible fixed assets +€60,734
up €60,734 (+43.5%), from €139,699 to €200,433
of which Leasing and similar rights: +€56,925
- Receivables within one year +€18,629
up €18,629 (+10.4%), from €179,610 to €198,239
- Debts after one year +€40,880
up €40,880 (+49.4%), from €82,835 to €123,715
- Current portion of long-term debt +€29,214
up €29,214 (+67.3%), from €43,396 to €72,610
- Trade debts +€23,984
up €23,984 (+65.4%), from €36,661 to €60,645
- Other debts -€21,313
down €21,313 (-19.8%), from €107,418 to €86,105
- Gross operating margin +€77,890
up €77,890 (+35.6%), from €218,709 to €296,599
- Depreciation +€39,952
up €39,952 (+127%), from €31,341 to €71,293
- Staff costs +€21,620
up €21,620 (+14.2%), from €151,787 to €173,408
- Other operating charges +€11,396
up €11,396 (+44.9%), from €25,367 to €36,764
- Financial charges +€3,619
up €3,619 (+56.1%), from €6,448 to €10,067
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 | €378,480 | €456,024 | +€77,544 | +20.5% |
| Fixed assets | 21/28 | €183,699 | €244,433 | +€60,734 | +33.1% |
| Tangible fixed assets | 22/27 | €139,699 | €200,433 | +€60,734 | +43.5% |
| Plant, machinery and equipment | 23 | €365 | €2,625 | +€2,260 | +619% |
| Furniture and vehicles | 24 | €139,334 | €140,883 | +€1,549 | +1.1% |
| Leasing and similar rights | 25 | - | €56,925 | +€56,925 | |
| Financial fixed assets | 28 | €44,000 | €44,000 | = | 0.0% |
| Current assets | 29/58 | €194,781 | €211,591 | +€16,810 | +8.6% |
| Amounts receivable within one year | 40/41 | €179,610 | €198,239 | +€18,629 | +10.4% |
| Trade receivables | 40 | €179,610 | €198,239 | +€18,629 | +10.4% |
| Cash at bank and in hand | 54/58 | €8,771 | €4,791 | -€3,980 | -45.4% |
| Deferred charges and accrued income | 490/1 | €6,400 | €8,561 | +€2,161 | +33.8% |
| Total equity and liabilities | 10/49 | €378,480 | €456,024 | +€77,544 | +20.5% |
| Equity | 10/15 | €51,635 | €55,798 | +€4,163 | +8.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,635 | €30,798 | +€4,163 | +15.6% |
| Amounts payable | 17/49 | €326,845 | €400,227 | +€73,382 | +22.5% |
| Amounts payable after more than one year | 17 | €82,835 | €123,715 | +€40,880 | +49.4% |
| Financial debts | 170/4 | €82,835 | €123,715 | +€40,880 | +49.4% |
| Amounts payable within one year | 42/48 | €244,009 | €276,511 | +€32,502 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €43,396 | €72,610 | +€29,214 | +67.3% |
| Trade debts | 44 | €36,661 | €60,645 | +€23,984 | +65.4% |
| Suppliers | 440/4 | €36,661 | €60,645 | +€23,984 | +65.4% |
| Taxes, remuneration and social security | 45 | €56,535 | €57,151 | +€616 | +1.1% |
| Taxes | 450/3 | €21,485 | €27,484 | +€6,000 | +27.9% |
| Remuneration and social security | 454/9 | €35,050 | €29,667 | -€5,383 | -15.4% |
| Other amounts payable | 47/48 | €107,418 | €86,105 | -€21,313 | -19.8% |
| Remuneration, social security and pensions | 62 | €151,787 | €173,408 | +€21,620 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,341 | €71,293 | +€39,952 | +127% |
| Other operating charges | 640/8 | €25,367 | €36,764 | +€11,396 | +44.9% |
| Gross operating margin | 9900 | €218,709 | €296,599 | +€77,890 | +35.6% |
| Operating profit (loss) | 9901 | €10,213 | €15,135 | +€4,922 | +48.2% |
| Financial income | 75/76B | €1 | €100 | +€99 | +7,534% |
| Recurring financial income | 75 | €1 | €100 | +€99 | +7,534% |
| Financial charges | 65/66B | €6,448 | €10,067 | +€3,619 | +56.1% |
| Recurring financial charges | 65 | €6,448 | €10,067 | +€3,619 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €3,766 | €5,168 | +€1,402 | +37.2% |
| Income taxes | 67/77 | €3,714 | €1,005 | -€2,709 | -72.9% |
| Profit (loss) for the period | 9904 | €52 | €4,163 | +€4,111 | +7,947% |
| Profit (loss) for the period to be appropriated | 9905 | €52 | €4,163 | +€4,111 | +7,947% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.