Kaem Group: 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.
Kaem Group
Largest movements
- Cash +€14,996
up €14,996 (+155%), from €9,649 to €24,646
mainly Net result for the year (+€21,969) and Receivables within one year (+€6,773)
- Receivables within one year -€6,773
down €6,773 (-17.9%), from €37,863 to €31,090
of which Trade receivables: -€17,126
- Tangible fixed assets +€2,750
new in 2025: €2,750
- Reserves +€21,969
up €21,969 (+102%), from €21,575 to €43,544
- Trade debts -€16,659
down €16,659 (-97.8%), from €17,027 to €368
- Tax, wage and social debts +€6,183
up €6,183 (+89.5%), from €6,911 to €13,094
- Gross operating margin +€3,455
up €3,455 (+10.8%), from €31,847 to €35,302
- Other operating charges +€1,621
up €1,621 (+88.1%), from €1,839 to €3,461
- Taxes +€1,478
up €1,478 (+24.3%), from €6,073 to €7,551
- Financial income +€412
new in 2025: €412
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 | €47,512 | €59,006 | +€11,494 | +24.2% |
| Fixed assets | 21/28 | - | €2,750 | +€2,750 | |
| Tangible fixed assets | 22/27 | - | €2,750 | +€2,750 | |
| Plant, machinery and equipment | 23 | - | €2,750 | +€2,750 | |
| Current assets | 29/58 | €47,512 | €56,256 | +€8,744 | +18.4% |
| Amounts receivable within one year | 40/41 | €37,863 | €31,090 | -€6,773 | -17.9% |
| Trade receivables | 40 | €29,126 | €12,000 | -€17,126 | -58.8% |
| Other amounts receivable | 41 | €8,737 | €19,090 | +€10,353 | +118% |
| Cash at bank and in hand | 54/58 | €9,649 | €24,646 | +€14,996 | +155% |
| Deferred charges and accrued income | 490/1 | - | €521 | +€521 | |
| Total equity and liabilities | 10/49 | €47,512 | €59,006 | +€11,494 | +24.2% |
| Equity | 10/15 | €23,575 | €45,544 | +€21,969 | +93.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,575 | €43,544 | +€21,969 | +102% |
| Distributable reserves | 133 | €21,575 | €43,544 | +€21,969 | +102% |
| Amounts payable | 17/49 | €23,937 | €13,462 | -€10,476 | -43.8% |
| Amounts payable within one year | 42/48 | €23,937 | €13,462 | -€10,476 | -43.8% |
| Trade debts | 44 | €17,027 | €368 | -€16,659 | -97.8% |
| Suppliers | 440/4 | €17,027 | €368 | -€16,659 | -97.8% |
| Taxes, remuneration and social security | 45 | €6,911 | €13,094 | +€6,183 | +89.5% |
| Taxes | 450/3 | €6,911 | €13,094 | +€6,183 | +89.5% |
| Remuneration, social security and pensions | 62 | €925 | €1,019 | +€93 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €270 | +€270 | |
| Other operating charges | 640/8 | €1,839 | €3,461 | +€1,621 | +88.1% |
| Gross operating margin | 9900 | €31,847 | €35,302 | +€3,455 | +10.8% |
| Operating profit (loss) | 9901 | €29,082 | €30,552 | +€1,471 | +5.1% |
| Financial income | 75/76B | - | €412 | +€412 | |
| Recurring financial income | 75 | - | €412 | +€412 | |
| Financial charges | 65/66B | €1,434 | €1,445 | +€11 | +0.7% |
| Recurring financial charges | 65 | €1,434 | €1,445 | +€11 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €27,648 | €29,520 | +€1,872 | +6.8% |
| Income taxes | 67/77 | €6,073 | €7,551 | +€1,478 | +24.3% |
| Profit (loss) for the period | 9904 | €21,575 | €21,969 | +€394 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,575 | €21,969 | +€394 | +1.8% |
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 20 October 2026 via checked.be.