KAM: 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.
KAM
Largest movements
- Tangible fixed assets +€24,245
up €24,245 (+165.6%), from €14,636 to €38,881
of which Leasing and similar rights: +€25,444
- Receivables within one year +€21,253
up €21,253 (+1076.5%), from €1,974 to €23,228
- Cash -€10,878
down €10,878 (-95.1%), from €11,440 to €562
mainly Investment in fixed assets (net) (-€27,849) and Receivables within one year (-€21,253)
- Deferred charges and accrued income -€2,347
down €2,347 (-64.4%), from €3,642 to €1,295
- Debts after one year +€24,631
new in 2025: €24,631
- Reserves +€6,334
up €6,334 (+756.1%), from €838 to €7,172
- Short-term financial debts +€5,000
new in 2025: €5,000
- Trade debts -€4,855
down €4,855 (-60.5%), from €8,019 to €3,164
- Current portion of long-term debt +€896
up €896 (+7.6%), from €11,807 to €12,703
- Depreciation -€4,998
down €4,998 (-58.1%), from €8,603 to €3,605
- Taxes +€2,718
up €2,718 (+319.7%), from €850 to €3,568
- Gross operating margin +€2,288
up €2,288 (+14.8%), from €15,435 to €17,724
- Other operating charges -€931
down €931 (-30.6%), from €3,041 to €2,110
- Financial income +€435
up €435 (+48288.9%), from €1 to €436
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 | €31,692 | €63,965 | +€32,273 | +101.8% |
| Fixed assets | 21/28 | €14,636 | €38,881 | +€24,245 | +165.6% |
| Tangible fixed assets | 22/27 | €14,636 | €38,881 | +€24,245 | +165.6% |
| Furniture and vehicles | 24 | €2,026 | €826 | -€1,200 | -59.2% |
| Leasing and similar rights | 25 | €12,611 | €38,055 | +€25,444 | +201.8% |
| Current assets | 29/58 | €17,056 | €25,084 | +€8,028 | +47.1% |
| Amounts receivable within one year | 40/41 | €1,974 | €23,228 | +€21,253 | +1076.5% |
| Other amounts receivable | 41 | €1,974 | €23,228 | +€21,253 | +1076.5% |
| Cash at bank and in hand | 54/58 | €11,440 | €562 | -€10,878 | -95.1% |
| Deferred charges and accrued income | 490/1 | €3,642 | €1,295 | -€2,347 | -64.4% |
| Total equity and liabilities | 10/49 | €31,692 | €63,965 | +€32,273 | +101.8% |
| Equity | 10/15 | €10,838 | €17,172 | +€6,334 | +58.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €838 | €7,172 | +€6,334 | +756.1% |
| Distributable reserves | 133 | €838 | €7,172 | +€6,334 | +756.1% |
| Amounts payable | 17/49 | €20,855 | €46,793 | +€25,939 | +124.4% |
| Amounts payable after more than one year | 17 | - | €24,631 | +€24,631 | |
| Financial debts | 170/4 | - | €24,631 | +€24,631 | |
| Amounts payable within one year | 42/48 | €20,855 | €22,163 | +€1,308 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €11,807 | €12,703 | +€896 | +7.6% |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €8,019 | €3,164 | -€4,855 | -60.5% |
| Suppliers | 440/4 | €8,019 | €3,164 | -€4,855 | -60.5% |
| Taxes, remuneration and social security | 45 | €1,029 | €1,296 | +€267 | +26.0% |
| Taxes | 450/3 | €850 | €974 | +€124 | +14.6% |
| Remuneration and social security | 454/9 | €179 | €322 | +€143 | +80.0% |
| Non-recurring operating income | 76A | - | €5,984 | +€5,984 | |
| Remuneration, social security and pensions | 62 | €1,526 | €1,828 | +€301 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,603 | €3,605 | -€4,998 | -58.1% |
| Other operating charges | 640/8 | €3,041 | €2,110 | -€931 | -30.6% |
| Gross operating margin | 9900 | €15,435 | €17,724 | +€2,288 | +14.8% |
| Operating profit (loss) | 9901 | €2,265 | €10,181 | +€7,916 | +349.5% |
| Financial income | 75/76B | €1 | €436 | +€435 | +48288.9% |
| Recurring financial income | 75 | €1 | €436 | +€435 | +48288.9% |
| Financial charges | 65/66B | €578 | €714 | +€136 | +23.5% |
| Recurring financial charges | 65 | €578 | €714 | +€136 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €1,688 | €9,903 | +€8,215 | +486.7% |
| Income taxes | 67/77 | €850 | €3,568 | +€2,718 | +319.7% |
| Profit (loss) for the period | 9904 | €838 | €6,334 | +€5,497 | +656.1% |
| Profit (loss) for the period to be appropriated | 9905 | €838 | €6,334 | +€5,497 | +656.1% |
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 1 October 2026 via checked.be.