GROUP KUMADA: 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.
GROUP KUMADA
Largest movements
- Stocks and contracts +€91,490
up €91,490 (+4.2%), from €2.2m to €2.3m
- Receivables within one year -€75,820
down €75,820 (-30.0%), from €252,928 to €177,108
of which Trade receivables: -€84,651
- Cash +€56,660
up €56,660 (+62.1%), from €91,238 to €147,899
mainly Debts after one year (+€275,081) and Trade debts (+€90,366)
- Other debts -€352,105
down €352,105 (-93.4%), from €376,996 to €24,891
- Debts after one year +€275,081
up €275,081 (+44.8%), from €614,517 to €889,598
- Tax, wage and social debts -€115,200
down €115,200 (-75.7%), from €152,276 to €37,076
of which Taxes: -€138,172
- Trade debts +€90,366
up €90,366 (+20.9%), from €431,600 to €521,966
- Advances received +€88,500
up €88,500 (+44.3%), from €200,000 to €288,500
- Gross operating margin +€223,422
up €223,422 (+82.8%), from €269,952 to €493,373
- Staff costs +€39,895
up €39,895 (+15.8%), from €252,675 to €292,570
- Other operating charges +€24,136
up €24,136 (+263%), from €9,173 to €33,309
- Financial charges +€19,444
up €19,444 (+33.3%), from €58,326 to €77,770
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 | €3,365,162 | €3,426,630 | +€61,468 | +1.8% |
| Fixed assets | 21/28 | €816,999 | €807,205 | -€9,794 | -1.2% |
| Tangible fixed assets | 22/27 | €301,999 | €291,605 | -€10,394 | -3.4% |
| Land and buildings | 22 | €273,300 | €260,681 | -€12,620 | -4.6% |
| Plant, machinery and equipment | 23 | €8,215 | €14,399 | +€6,184 | +75.3% |
| Furniture and vehicles | 24 | €11,347 | €4,202 | -€7,145 | -63.0% |
| Other tangible fixed assets | 26 | €9,136 | €12,323 | +€3,187 | +34.9% |
| Financial fixed assets | 28 | €515,000 | €515,600 | +€600 | +0.1% |
| Current assets | 29/58 | €2,548,164 | €2,619,425 | +€71,261 | +2.8% |
| Stocks and contracts in progress | 3 | €2,181,023 | €2,272,513 | +€91,490 | +4.2% |
| Stocks | 30/36 | €2,181,023 | €2,272,513 | +€91,490 | +4.2% |
| Amounts receivable within one year | 40/41 | €252,928 | €177,108 | -€75,820 | -30.0% |
| Trade receivables | 40 | €236,618 | €151,967 | -€84,651 | -35.8% |
| Other amounts receivable | 41 | €16,310 | €25,141 | +€8,831 | +54.1% |
| Cash at bank and in hand | 54/58 | €91,238 | €147,899 | +€56,660 | +62.1% |
| Deferred charges and accrued income | 490/1 | €22,974 | €21,905 | -€1,070 | -4.7% |
| Total equity and liabilities | 10/49 | €3,365,162 | €3,426,630 | +€61,468 | +1.8% |
| Equity | 10/15 | €1,117,443 | €1,179,861 | +€62,418 | +5.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,184,950 | €1,184,950 | = | 0.0% |
| Distributable reserves | 133 | €1,184,950 | €1,184,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,907 | -€17,489 | +€62,418 | +78.1% |
| Amounts payable | 17/49 | €2,247,719 | €2,246,769 | -€950 | 0.0% |
| Amounts payable after more than one year | 17 | €614,517 | €889,598 | +€275,081 | +44.8% |
| Financial debts | 170/4 | €614,517 | €889,598 | +€275,081 | +44.8% |
| Amounts payable within one year | 42/48 | €1,633,203 | €1,356,679 | -€276,524 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €72,331 | €84,246 | +€11,915 | +16.5% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €431,600 | €521,966 | +€90,366 | +20.9% |
| Suppliers | 440/4 | €431,600 | €521,966 | +€90,366 | +20.9% |
| Advances received on contracts in progress | 46 | €200,000 | €288,500 | +€88,500 | +44.3% |
| Taxes, remuneration and social security | 45 | €152,276 | €37,076 | -€115,200 | -75.7% |
| Taxes | 450/3 | €150,629 | €12,458 | -€138,172 | -91.7% |
| Remuneration and social security | 454/9 | €1,647 | €24,618 | +€22,972 | +1,395% |
| Other amounts payable | 47/48 | €376,996 | €24,891 | -€352,105 | -93.4% |
| Accrued charges and deferred income | 492/3 | - | €493 | +€493 | |
| Non-recurring operating income | 76A | €12,783 | - | -€12,783 | |
| Remuneration, social security and pensions | 62 | €252,675 | €292,570 | +€39,895 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,699 | €27,358 | -€2,341 | -7.9% |
| Other operating charges | 640/8 | €9,173 | €33,309 | +€24,136 | +263% |
| Gross operating margin | 9900 | €269,952 | €493,373 | +€223,422 | +82.8% |
| Operating profit (loss) | 9901 | -€21,596 | €140,136 | +€161,732 | |
| Financial income | 75/76B | €15 | €51 | +€37 | +251% |
| Recurring financial income | 75 | €15 | €51 | +€37 | +251% |
| Financial charges | 65/66B | €58,326 | €77,770 | +€19,444 | +33.3% |
| Recurring financial charges | 65 | €58,326 | €77,770 | +€19,444 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | -€79,907 | €62,418 | +€142,324 | |
| Profit (loss) for the period | 9904 | -€79,907 | €62,418 | +€142,324 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,907 | €62,418 | +€142,324 |
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 28 October 2026 via checked.be.