K plus 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 plus M
Largest movements
- Cash -€76,211
down €76,211 (-81.0%), from €94,141 to €17,930
mainly Receivables within one year (-€30,000) and Investment in fixed assets (net) (-€18,342)
- Receivables within one year +€30,000
new in 2025: €30,000
- Tangible fixed assets +€18,342
up €18,342 (+74.1%), from €24,749 to €43,091
of which Other tangible fixed assets: +€18,342
- Other debts -€15,056
down €15,056 (-16.8%), from €89,490 to €74,434
- Profit (loss) carried forward -€14,805
down €14,805, from €3,341 to -€11,464
- Tax, wage and social debts +€1,870
up €1,870 (+33.3%), from €5,608 to €7,478
- Gross operating margin -€42,892
down €42,892, from €31,374 to -€11,518
- Depreciation -€18,679
no longer reported in 2025 (was €18,679)
- Other operating charges +€1,255
up €1,255 (+68.4%), from €1,834 to €3,089
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 | €118,890 | €91,021 | -€27,869 | -23.4% |
| Fixed assets | 21/28 | €24,749 | €43,091 | +€18,342 | +74.1% |
| Tangible fixed assets | 22/27 | €24,749 | €43,091 | +€18,342 | +74.1% |
| Furniture and vehicles | 24 | €24,749 | €24,749 | = | 0.0% |
| Other tangible fixed assets | 26 | - | €18,342 | +€18,342 | |
| Current assets | 29/58 | €94,141 | €47,930 | -€46,211 | -49.1% |
| Amounts receivable within one year | 40/41 | - | €30,000 | +€30,000 | |
| Trade receivables | 40 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €94,141 | €17,930 | -€76,211 | -81.0% |
| Total equity and liabilities | 10/49 | €118,890 | €91,021 | -€27,869 | -23.4% |
| Equity | 10/15 | €23,792 | €8,987 | -€14,805 | -62.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,341 | -€11,464 | -€14,805 | |
| Amounts payable | 17/49 | €95,098 | €82,034 | -€13,064 | -13.7% |
| Amounts payable within one year | 42/48 | €95,098 | €82,034 | -€13,064 | -13.7% |
| Trade debts | 44 | - | €122 | +€122 | |
| Suppliers | 440/4 | - | €122 | +€122 | |
| Taxes, remuneration and social security | 45 | €5,608 | €7,478 | +€1,870 | +33.3% |
| Taxes | 450/3 | €5,608 | €7,478 | +€1,870 | +33.3% |
| Other amounts payable | 47/48 | €89,490 | €74,434 | -€15,056 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,679 | - | -€18,679 | |
| Other operating charges | 640/8 | €1,834 | €3,089 | +€1,255 | +68.4% |
| Gross operating margin | 9900 | €31,374 | -€11,518 | -€42,892 | |
| Operating profit (loss) | 9901 | €10,861 | -€14,607 | -€25,468 | |
| Financial charges | 65/66B | €326 | €198 | -€128 | -39.3% |
| Recurring financial charges | 65 | €326 | €198 | -€128 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €10,535 | -€14,805 | -€25,340 | |
| Profit (loss) for the period | 9904 | €10,535 | -€14,805 | -€25,340 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,535 | -€14,805 | -€25,340 |
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 17 October 2026 via checked.be.