K.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.M.
Largest movements
- Receivables within one year -€46,830
down €46,830 (-51.8%), from €90,462 to €43,632
of which Other amounts receivable: -€33,194
- Tangible fixed assets -€40,615
down €40,615 (-36.4%), from €111,513 to €70,897
- Deferred charges and accrued income -€10,309
down €10,309 (-48.7%), from €21,168 to €10,859
- Profit (loss) carried forward -€92,678
down €92,678 (-79.5%), from €116,572 to €23,895
- Trade debts -€21,682
down €21,682 (-30.7%), from €70,597 to €48,915
- Tax, wage and social debts +€12,876
up €12,876 (+38.0%), from €33,905 to €46,781
of which Remuneration and social security: +€14,024
- Debts after one year +€5,933
up €5,933 (+125.3%), from €4,734 to €10,667
- Accrued charges and deferred income -€3,143
no longer reported in 2025 (was €3,143)
- Staff costs +€62,744
up €62,744 (+17.7%), from €354,012 to €416,755
- Gross operating margin -€21,698
down €21,698 (-5.1%), from €424,916 to €403,218
- Other operating charges +€16,897
up €16,897 (+893.6%), from €1,891 to €18,788
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 | €249,403 | €150,709 | -€98,694 | -39.6% |
| Fixed assets | 21/28 | €111,513 | €70,897 | -€40,615 | -36.4% |
| Tangible fixed assets | 22/27 | €111,513 | €70,897 | -€40,615 | -36.4% |
| Furniture and vehicles | 24 | €111,513 | €70,897 | -€40,615 | -36.4% |
| Current assets | 29/58 | €137,890 | €79,811 | -€58,078 | -42.1% |
| Amounts receivable within one year | 40/41 | €90,462 | €43,632 | -€46,830 | -51.8% |
| Trade receivables | 40 | €51,758 | €38,122 | -€13,636 | -26.3% |
| Other amounts receivable | 41 | €38,705 | €5,510 | -€33,194 | -85.8% |
| Cash at bank and in hand | 54/58 | €26,260 | €25,320 | -€940 | -3.6% |
| Deferred charges and accrued income | 490/1 | €21,168 | €10,859 | -€10,309 | -48.7% |
| Total equity and liabilities | 10/49 | €249,403 | €150,709 | -€98,694 | -39.6% |
| Equity | 10/15 | €137,024 | €44,346 | -€92,678 | -67.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,572 | €23,895 | -€92,678 | -79.5% |
| Amounts payable | 17/49 | €112,379 | €106,363 | -€6,016 | -5.4% |
| Amounts payable after more than one year | 17 | €4,734 | €10,667 | +€5,933 | +125.3% |
| Financial debts | 170/4 | €4,734 | €10,667 | +€5,933 | +125.3% |
| Amounts payable within one year | 42/48 | €104,502 | €95,696 | -€8,806 | -8.4% |
| Trade debts | 44 | €70,597 | €48,915 | -€21,682 | -30.7% |
| Suppliers | 440/4 | €70,597 | €48,915 | -€21,682 | -30.7% |
| Taxes, remuneration and social security | 45 | €33,905 | €46,781 | +€12,876 | +38.0% |
| Taxes | 450/3 | €1,148 | - | -€1,148 | |
| Remuneration and social security | 454/9 | €32,757 | €46,781 | +€14,024 | +42.8% |
| Accrued charges and deferred income | 492/3 | €3,143 | - | -€3,143 | |
| Remuneration, social security and pensions | 62 | €354,012 | €416,755 | +€62,744 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,150 | €47,530 | -€1,620 | -3.3% |
| Other operating charges | 640/8 | €1,891 | €18,788 | +€16,897 | +893.6% |
| Non-recurring operating charges | 66A | - | €8,226 | +€8,226 | |
| Gross operating margin | 9900 | €424,916 | €403,218 | -€21,698 | -5.1% |
| Operating profit (loss) | 9901 | €19,864 | -€88,082 | -€107,946 | |
| Financial charges | 65/66B | €6,955 | €4,596 | -€2,359 | -33.9% |
| Recurring financial charges | 65 | €6,955 | €4,596 | -€2,359 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €12,909 | -€92,678 | -€105,587 | |
| Profit (loss) for the period | 9904 | €12,909 | -€92,678 | -€105,587 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,909 | -€92,678 | -€105,587 |
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 9 October 2026 via checked.be.