K2M: what changed
Two fiscal 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.
K2M
Largest movements
- Current investments -€4.9m
down €4.9m (-98.0%), from €5.0m to €100,000
- Cash +€3.7m
up €3.7m (+631.4%), from €580,692 to €4.2m
mainly Current investments (+€4.9m) and Trade debts (+€17,771)
- Receivables within one year +€293,240
up €293,240 (+1586.2%), from €18,487 to €311,726
of which Trade receivables: +€220,732
- Stocks and contracts +€252,070
new in 2025: €252,070
- Tax, wage and social debts -€318,500
no longer reported in 2025 (was €318,500)
- Profit (loss) carried forward -€268,714
down €268,714 (-10.9%), from €2.5m to €2.2m
- Other debts -€84,313
no longer reported in 2025 (was €84,313)
- Financial income -€1.9m
down €1.9m (-93.5%), from €2.0m to €131,383
- Financial charges -€550,783
down €550,783 (-63.8%), from €863,571 to €312,787
- Taxes -€392,347
down €392,347, from €360,164 to -€32,183
- Gross operating margin +€320,669
up €320,669 (+73.5%), from -€436,411 to -€115,742
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 | €5,718,889 | €5,065,134 | -€653,755 | -11.4% |
| Fixed assets | 21/28 | €114,595 | €132,329 | +€17,735 | +15.5% |
| Tangible fixed assets | 22/27 | €3,082 | €766 | -€2,315 | -75.1% |
| Furniture and vehicles | 24 | €3,082 | €766 | -€2,315 | -75.1% |
| Financial fixed assets | 28 | €111,513 | €131,563 | +€20,050 | +18.0% |
| Current assets | 29/58 | €5,604,294 | €4,932,804 | -€671,490 | -12.0% |
| Stocks and contracts in progress | 3 | - | €252,070 | +€252,070 | |
| Stocks | 30/36 | - | €252,070 | +€252,070 | |
| Amounts receivable within one year | 40/41 | €18,487 | €311,726 | +€293,240 | +1586.2% |
| Trade receivables | 40 | - | €220,732 | +€220,732 | |
| Other amounts receivable | 41 | €18,487 | €90,995 | +€72,508 | +392.2% |
| Current investments | 50/53 | €4,999,870 | €100,000 | -€4.9m | -98.0% |
| Cash at bank and in hand | 54/58 | €580,692 | €4,246,961 | +€3.7m | +631.4% |
| Deferred charges and accrued income | 490/1 | €5,245 | €22,047 | +€16,802 | +320.3% |
| Total equity and liabilities | 10/49 | €5,718,889 | €5,065,134 | -€653,755 | -11.4% |
| Equity | 10/15 | €5,294,627 | €5,025,913 | -€268,714 | -5.1% |
| Contributions | 10/11 | €2,620,800 | €2,620,800 | = | 0.0% |
| Reserves | 13 | €204,100 | €204,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €192,100 | €192,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,469,727 | €2,201,013 | -€268,714 | -10.9% |
| Amounts payable | 17/49 | €424,262 | €39,220 | -€385,042 | -90.8% |
| Amounts payable within one year | 42/48 | €424,262 | €39,220 | -€385,042 | -90.8% |
| Trade debts | 44 | €21,449 | €39,220 | +€17,771 | +82.9% |
| Suppliers | 440/4 | €21,449 | €39,220 | +€17,771 | +82.9% |
| Taxes, remuneration and social security | 45 | €318,500 | - | -€318,500 | |
| Taxes | 450/3 | €318,500 | - | -€318,500 | |
| Other amounts payable | 47/48 | €84,313 | - | -€84,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,469 | €2,315 | -€1,154 | -33.3% |
| Other operating charges | 640/8 | €1,351 | €1,435 | +€84 | +6.2% |
| Gross operating margin | 9900 | -€436,411 | -€115,742 | +€320,669 | +73.5% |
| Operating profit (loss) | 9901 | -€441,231 | -€119,492 | +€321,739 | +72.9% |
| Financial income | 75/76B | €2,023,311 | €131,383 | -€1.9m | -93.5% |
| Recurring financial income | 75 | €2,023,311 | €131,383 | -€1.9m | -93.5% |
| Financial charges | 65/66B | €863,571 | €312,787 | -€550,783 | -63.8% |
| Recurring financial charges | 65 | €863,571 | €312,787 | -€550,783 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | €718,510 | -€300,897 | -€1.0m | |
| Income taxes | 67/77 | €360,164 | -€32,183 | -€392,347 | |
| Profit (loss) for the period | 9904 | €358,346 | -€268,714 | -€627,059 | |
| Profit (loss) for the period to be appropriated | 9905 | €358,346 | -€268,714 | -€627,059 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.