Kalumat: 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.
Kalumat
Largest movements
- Stocks and contracts +€47,489
new in 2025: €47,489
- Deferred charges and accrued income -€28,790
no longer reported in 2025 (was €28,790)
- Receivables within one year +€20,812
up €20,812 (+12.8%), from €162,095 to €182,907
of which Other amounts receivable: +€23,934
- Tangible fixed assets -€19,169
down €19,169 (-7.0%), from €272,987 to €253,818
of which Other tangible fixed assets: -€16,426
- Cash +€13,838
up €13,838 (+3.0%), from €460,890 to €474,729
mainly Net result for the year (+€160,939) and Depreciation (+€31,183)
- Reserves +€160,939
up €160,939 (+32.5%), from €495,093 to €656,033
of which Distributable reserves: +€160,939
- Trade debts -€70,951
down €70,951 (-39.2%), from €180,838 to €109,887
- Debts after one year -€37,888
down €37,888 (-20.1%), from €188,670 to €150,783
- Accrued charges and deferred income -€18,214
no longer reported in 2025 (was €18,214)
- Gross operating margin +€43,630
up €43,630 (+12.5%), from €347,865 to €391,495
- Staff costs +€18,982
up €18,982 (+19.0%), from €100,131 to €119,113
- Taxes +€13,594
up €13,594 (+24.0%), from €56,682 to €70,276
- Financial charges -€8,364
down €8,364 (-41.6%), from €20,106 to €11,742
- Financial income +€5,583
new in 2025: €5,583
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 | €925,174 | €959,354 | +€34,180 | +3.7% |
| Fixed assets | 21/28 | €272,987 | €253,818 | -€19,169 | -7.0% |
| Tangible fixed assets | 22/27 | €272,987 | €253,818 | -€19,169 | -7.0% |
| Plant, machinery and equipment | 23 | €1,257 | €838 | -€419 | -33.3% |
| Furniture and vehicles | 24 | €59,559 | €57,235 | -€2,324 | -3.9% |
| Other tangible fixed assets | 26 | €212,172 | €195,746 | -€16,426 | -7.7% |
| Current assets | 29/58 | €652,187 | €705,536 | +€53,348 | +8.2% |
| Amounts receivable after more than one year | 29 | €412 | €412 | = | 0.0% |
| Other amounts receivable | 291 | €412 | €412 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €47,489 | +€47,489 | |
| Stocks | 30/36 | - | €47,489 | +€47,489 | |
| Amounts receivable within one year | 40/41 | €162,095 | €182,907 | +€20,812 | +12.8% |
| Trade receivables | 40 | €118,777 | €115,655 | -€3,122 | -2.6% |
| Other amounts receivable | 41 | €43,318 | €67,252 | +€23,934 | +55.3% |
| Cash at bank and in hand | 54/58 | €460,890 | €474,729 | +€13,838 | +3.0% |
| Deferred charges and accrued income | 490/1 | €28,790 | - | -€28,790 | |
| Total equity and liabilities | 10/49 | €925,174 | €959,354 | +€34,180 | +3.7% |
| Equity | 10/15 | €496,953 | €657,893 | +€160,939 | +32.4% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €495,093 | €656,033 | +€160,939 | +32.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €495,093 | €656,033 | +€160,939 | +32.5% |
| Amounts payable | 17/49 | €428,221 | €301,461 | -€126,760 | -29.6% |
| Amounts payable after more than one year | 17 | €188,670 | €150,783 | -€37,888 | -20.1% |
| Financial debts | 170/4 | €188,670 | €150,783 | -€37,888 | -20.1% |
| Amounts payable within one year | 42/48 | €221,337 | €150,679 | -€70,658 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €37,605 | €37,888 | +€283 | +0.8% |
| Trade debts | 44 | €180,838 | €109,887 | -€70,951 | -39.2% |
| Suppliers | 440/4 | €180,838 | €109,887 | -€70,951 | -39.2% |
| Taxes, remuneration and social security | 45 | €2,894 | €2,904 | +€9 | +0.3% |
| Remuneration and social security | 454/9 | €2,894 | €2,904 | +€9 | +0.3% |
| Accrued charges and deferred income | 492/3 | €18,214 | - | -€18,214 | |
| Remuneration, social security and pensions | 62 | €100,131 | €119,113 | +€18,982 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,765 | €31,183 | -€582 | -1.8% |
| Other operating charges | 640/8 | €3,392 | €3,826 | +€434 | +12.8% |
| Gross operating margin | 9900 | €347,865 | €391,495 | +€43,630 | +12.5% |
| Operating profit (loss) | 9901 | €212,577 | €237,374 | +€24,797 | +11.7% |
| Financial income | 75/76B | - | €5,583 | +€5,583 | |
| Recurring financial income | 75 | - | €5,583 | +€5,583 | |
| Financial charges | 65/66B | €20,106 | €11,742 | -€8,364 | -41.6% |
| Recurring financial charges | 65 | €20,106 | €11,742 | -€8,364 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €192,471 | €231,215 | +€38,744 | +20.1% |
| Income taxes | 67/77 | €56,682 | €70,276 | +€13,594 | +24.0% |
| Profit (loss) for the period | 9904 | €135,790 | €160,939 | +€25,150 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €135,790 | €160,939 | +€25,150 | +18.5% |
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 13 October 2026 via checked.be.