K-NM: 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-NM
Largest movements
- Tangible fixed assets -€13,278
down €13,278 (-53.5%), from €24,810 to €11,532
- Cash -€8,927
down €8,927 (-90.6%), from €9,850 to €923
mainly Advances received (-€12,646) and Net result for the year (-€12,622)
- Receivables within one year -€8,811
down €8,811 (-30.0%), from €29,330 to €20,520
of which Trade receivables: -€7,979
- Advances received -€12,646
down €12,646 (-63.6%), from €19,883 to €7,236
- Profit (loss) carried forward -€12,622
down €12,622 (-220%), from -€5,749 to -€18,372
- Trade debts -€9,746
down €9,746 (-40.6%), from €23,999 to €14,254
- Other debts +€4,954
up €4,954 (+52.5%), from €9,440 to €14,394
- Tax, wage and social debts -€955
down €955 (-94.1%), from €1,015 to €60
of which Remuneration and social security: -€956
- Gross operating margin -€17,244
down €17,244 (-63.4%), from €27,190 to €9,947
- Other operating charges -€3,951
down €3,951 (-89.5%), from €4,416 to €465
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 | €67,188 | €36,172 | -€31,016 | -46.2% |
| Fixed assets | 21/28 | €28,007 | €14,729 | -€13,278 | -47.4% |
| Tangible fixed assets | 22/27 | €24,810 | €11,532 | -€13,278 | -53.5% |
| Furniture and vehicles | 24 | €24,810 | €11,532 | -€13,278 | -53.5% |
| Financial fixed assets | 28 | €3,197 | €3,197 | = | 0.0% |
| Current assets | 29/58 | €39,181 | €21,443 | -€17,738 | -45.3% |
| Amounts receivable within one year | 40/41 | €29,330 | €20,520 | -€8,811 | -30.0% |
| Trade receivables | 40 | €24,621 | €16,643 | -€7,979 | -32.4% |
| Other amounts receivable | 41 | €4,709 | €3,877 | -€832 | -17.7% |
| Cash at bank and in hand | 54/58 | €9,850 | €923 | -€8,927 | -90.6% |
| Total equity and liabilities | 10/49 | €67,188 | €36,172 | -€31,016 | -46.2% |
| Equity | 10/15 | €12,851 | €228 | -€12,622 | -98.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,749 | -€18,372 | -€12,622 | -220% |
| Amounts payable | 17/49 | €54,337 | €35,943 | -€18,393 | -33.9% |
| Amounts payable within one year | 42/48 | €54,337 | €35,943 | -€18,393 | -33.9% |
| Trade debts | 44 | €23,999 | €14,254 | -€9,746 | -40.6% |
| Suppliers | 440/4 | €23,999 | €14,254 | -€9,746 | -40.6% |
| Advances received on contracts in progress | 46 | €19,883 | €7,236 | -€12,646 | -63.6% |
| Taxes, remuneration and social security | 45 | €1,015 | €60 | -€955 | -94.1% |
| Taxes | 450/3 | - | €1 | +€1 | |
| Remuneration and social security | 454/9 | €1,015 | €59 | -€956 | -94.2% |
| Other amounts payable | 47/48 | €9,440 | €14,394 | +€4,954 | +52.5% |
| Remuneration, social security and pensions | 62 | €8,713 | €8,785 | +€72 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,278 | €13,278 | = | 0.0% |
| Other operating charges | 640/8 | €4,416 | €465 | -€3,951 | -89.5% |
| Gross operating margin | 9900 | €27,190 | €9,947 | -€17,244 | -63.4% |
| Operating profit (loss) | 9901 | €783 | -€12,582 | -€13,365 | |
| Financial income | 75/76B | €0 | €7 | +€7 | +8,213% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +8,213% |
| Financial charges | 65/66B | €109 | €47 | -€62 | -56.9% |
| Recurring financial charges | 65 | €109 | €47 | -€62 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €674 | -€12,622 | -€13,297 | |
| Profit (loss) for the period | 9904 | €674 | -€12,622 | -€13,297 | |
| Profit (loss) for the period to be appropriated | 9905 | €674 | -€12,622 | -€13,297 |
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 22 October 2026 via checked.be.