VAN HERCK KURT: 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.
VAN HERCK KURT
Largest movements
- Stocks and contracts -€32,850
down €32,850 (-68.6%), from €47,900 to €15,050
- Cash +€17,269
up €17,269 (+49.2%), from €35,083 to €52,352
mainly Stocks and contracts (+€32,850) and Receivables within one year (+€5,499)
- Receivables within one year -€5,499
down €5,499 (-68.7%), from €8,002 to €2,503
of which Trade receivables: -€5,250
- Deferred charges and accrued income -€2,518
down €2,518 (-90.3%), from €2,788 to €270
- Other debts -€11,208
down €11,208 (-43.2%), from €25,941 to €14,733
- Profit (loss) carried forward -€9,460
down €9,460 (-267%), from -€3,550 to -€13,010
- Trade debts -€2,930
down €2,930 (-88.3%), from €3,316 to €387
- Gross operating margin -€12,415
down €12,415, from €5,340 to -€7,075
- Taxes -€1,614
no longer reported in 2025 (was €1,614)
- Other operating charges -€891
down €891 (-28.2%), from €3,160 to €2,269
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 | €95,080 | €71,482 | -€23,598 | -24.8% |
| Fixed assets | 21/28 | €1,308 | €1,308 | = | 0.0% |
| Financial fixed assets | 28 | €1,308 | €1,308 | = | 0.0% |
| Current assets | 29/58 | €93,772 | €70,175 | -€23,598 | -25.2% |
| Stocks and contracts in progress | 3 | €47,900 | €15,050 | -€32,850 | -68.6% |
| Stocks | 30/36 | €47,900 | €15,050 | -€32,850 | -68.6% |
| Amounts receivable within one year | 40/41 | €8,002 | €2,503 | -€5,499 | -68.7% |
| Trade receivables | 40 | €5,500 | €250 | -€5,250 | -95.5% |
| Other amounts receivable | 41 | €2,502 | €2,253 | -€249 | -9.9% |
| Cash at bank and in hand | 54/58 | €35,083 | €52,352 | +€17,269 | +49.2% |
| Deferred charges and accrued income | 490/1 | €2,788 | €270 | -€2,518 | -90.3% |
| Total equity and liabilities | 10/49 | €95,080 | €71,482 | -€23,598 | -24.8% |
| Equity | 10/15 | €62,884 | €53,424 | -€9,460 | -15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,834 | €47,834 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,974 | €45,974 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,550 | -€13,010 | -€9,460 | -267% |
| Amounts payable | 17/49 | €32,196 | €18,059 | -€14,137 | -43.9% |
| Amounts payable within one year | 42/48 | €32,196 | €18,059 | -€14,137 | -43.9% |
| Financial debts | 43 | €759 | €759 | = | 0.0% |
| Other loans | 439 | €759 | €759 | = | 0.0% |
| Trade debts | 44 | €3,316 | €387 | -€2,930 | -88.3% |
| Suppliers | 440/4 | €3,316 | €387 | -€2,930 | -88.3% |
| Taxes, remuneration and social security | 45 | €2,180 | €2,180 | = | 0.0% |
| Taxes | 450/3 | €2,180 | €2,180 | = | 0.0% |
| Other amounts payable | 47/48 | €25,941 | €14,733 | -€11,208 | -43.2% |
| Other operating charges | 640/8 | €3,160 | €2,269 | -€891 | -28.2% |
| Gross operating margin | 9900 | €5,340 | -€7,075 | -€12,415 | |
| Operating profit (loss) | 9901 | €2,179 | -€9,344 | -€11,524 | |
| Financial income | 75/76B | €9 | €4 | -€5 | -54.2% |
| Recurring financial income | 75 | €9 | €4 | -€5 | -54.2% |
| Financial charges | 65/66B | €108 | €120 | +€12 | +11.1% |
| Recurring financial charges | 65 | €108 | €120 | +€12 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €2,080 | -€9,460 | -€11,540 | |
| Income taxes | 67/77 | €1,614 | - | -€1,614 | |
| Profit (loss) for the period | 9904 | €466 | -€9,460 | -€9,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €466 | -€9,460 | -€9,926 |
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 27 October 2026 via checked.be.