K.C.M.: 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.
K.C.M.
Largest movements
- Receivables within one year -€73,142
down €73,142 (-17.1%), from €428,805 to €355,663
of which Trade receivables: -€76,176
- Receivables after one year +€38,408
up €38,408 (+6.1%), from €632,179 to €670,586
- Cash +€29,418
up €29,418 (+38.9%), from €75,603 to €105,022
mainly Receivables within one year (+€73,142) and Depreciation (+€5,429)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€4,533
down €4,533 (-35.9%), from €12,614 to €8,081
- Depreciation -€3,137
down €3,137 (-36.6%), from €8,566 to €5,429
- Other operating charges +€795
up €795 (+10.1%), from €7,886 to €8,681
- Taxes -€353
down €353 (-21.6%), from €1,635 to €1,282
- Financial charges +€297
up €297 (+97.8%), from €303 to €600
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 | €1,191,867 | €1,191,971 | +€104 | 0.0% |
| Fixed assets | 21/28 | €17,948 | €20,296 | +€2,348 | +13.1% |
| Tangible fixed assets | 22/27 | €3,948 | €6,296 | +€2,348 | +59.5% |
| Plant, machinery and equipment | 23 | €1,601 | €3,396 | +€1,795 | +112.1% |
| Furniture and vehicles | 24 | €2,347 | €2,900 | +€553 | +23.5% |
| Financial fixed assets | 28 | €14,000 | €14,000 | = | 0.0% |
| Current assets | 29/58 | €1,173,919 | €1,171,675 | -€2,243 | -0.2% |
| Amounts receivable after more than one year | 29 | €632,179 | €670,586 | +€38,408 | +6.1% |
| Other amounts receivable | 291 | €632,179 | €670,586 | +€38,408 | +6.1% |
| Stocks and contracts in progress | 3 | €30,475 | €32,085 | +€1,609 | +5.3% |
| Stocks | 30/36 | €30,475 | €32,085 | +€1,609 | +5.3% |
| Amounts receivable within one year | 40/41 | €428,805 | €355,663 | -€73,142 | -17.1% |
| Trade receivables | 40 | €427,605 | €351,429 | -€76,176 | -17.8% |
| Other amounts receivable | 41 | €1,200 | €4,234 | +€3,034 | +252.8% |
| Cash at bank and in hand | 54/58 | €75,603 | €105,022 | +€29,418 | +38.9% |
| Deferred charges and accrued income | 490/1 | €6,856 | €8,320 | +€1,464 | +21.3% |
| Total equity and liabilities | 10/49 | €1,191,867 | €1,191,971 | +€104 | 0.0% |
| Equity | 10/15 | €1,159,255 | €1,162,585 | +€3,329 | +0.3% |
| Contributions | 10/11 | €127,500 | €127,500 | = | 0.0% |
| Reserves | 13 | €12,750 | €12,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,750 | €12,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,750 | €12,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,019,005 | €1,022,335 | +€3,329 | +0.3% |
| Amounts payable | 17/49 | €32,611 | €29,386 | -€3,225 | -9.9% |
| Amounts payable within one year | 42/48 | €32,611 | €28,886 | -€3,725 | -11.4% |
| Trade debts | 44 | €23,448 | €23,188 | -€260 | -1.1% |
| Suppliers | 440/4 | €23,448 | €23,188 | -€260 | -1.1% |
| Taxes, remuneration and social security | 45 | €8,856 | €5,660 | -€3,196 | -36.1% |
| Taxes | 450/3 | €8,707 | €5,660 | -€3,047 | -35.0% |
| Remuneration and social security | 454/9 | €149 | - | -€149 | |
| Other amounts payable | 47/48 | €308 | €38 | -€270 | -87.6% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,566 | €5,429 | -€3,137 | -36.6% |
| Other operating charges | 640/8 | €7,886 | €8,681 | +€795 | +10.1% |
| Gross operating margin | 9900 | €12,614 | €8,081 | -€4,533 | -35.9% |
| Operating profit (loss) | 9901 | -€3,838 | -€6,028 | -€2,190 | -57.1% |
| Financial income | 75/76B | €11,197 | €11,240 | +€42 | +0.4% |
| Recurring financial income | 75 | €11,197 | €11,240 | +€42 | +0.4% |
| Financial charges | 65/66B | €303 | €600 | +€297 | +97.8% |
| Recurring financial charges | 65 | €303 | €600 | +€297 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | €7,056 | €4,612 | -€2,445 | -34.6% |
| Income taxes | 67/77 | €1,635 | €1,282 | -€353 | -21.6% |
| Profit (loss) for the period | 9904 | €5,421 | €3,329 | -€2,092 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,421 | €3,329 | -€2,092 | -38.6% |
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 12 October 2026 via checked.be.