KAM'S: 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.
KAM'S
Largest movements
- Cash -€29,743
down €29,743 (-23.0%), from €129,202 to €99,459
mainly Other debts (-€65,301) and Contributions, distributions and other (-€45,000)
- Receivables within one year -€7,163
no longer reported in 2025 (was €7,163)
- Tangible fixed assets -€2,087
down €2,087 (-26.9%), from €7,762 to €5,675
of which Furniture and vehicles: -€1,807
- Other debts -€65,301
down €65,301 (-52.9%), from €123,546 to €58,245
- Profit (loss) carried forward +€21,375
up €21,375 (+297%), from €7,188 to €28,564
- Trade debts +€4,068
up €4,068 (+673%), from €604 to €4,673
- Gross operating margin -€15,239
down €15,239 (-16.4%), from €92,719 to €77,480
- Financial charges -€2,263
down €2,263 (-91.4%), from €2,476 to €213
- Staff costs -€1,377
down €1,377 (-99.3%), from €1,386 to €10
- Taxes -€1,294
down €1,294 (-13.0%), from €9,950 to €8,655
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 | €152,225 | €113,207 | -€39,018 | -25.6% |
| Fixed assets | 21/28 | €11,734 | €9,647 | -€2,087 | -17.8% |
| Tangible fixed assets | 22/27 | €7,762 | €5,675 | -€2,087 | -26.9% |
| Plant, machinery and equipment | 23 | €280 | - | -€280 | |
| Furniture and vehicles | 24 | €7,482 | €5,675 | -€1,807 | -24.2% |
| Financial fixed assets | 28 | €3,972 | €3,972 | = | 0.0% |
| Current assets | 29/58 | €140,491 | €103,560 | -€36,931 | -26.3% |
| Stocks and contracts in progress | 3 | €4,126 | €4,101 | -€25 | -0.6% |
| Stocks | 30/36 | €4,126 | €4,101 | -€25 | -0.6% |
| Amounts receivable within one year | 40/41 | €7,163 | - | -€7,163 | |
| Trade receivables | 40 | €7,163 | - | -€7,163 | |
| Cash at bank and in hand | 54/58 | €129,202 | €99,459 | -€29,743 | -23.0% |
| Total equity and liabilities | 10/49 | €152,225 | €113,207 | -€39,018 | -25.6% |
| Equity | 10/15 | €26,028 | €47,404 | +€21,375 | +82.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €248 | €248 | = | 0.0% |
| Non-distributable reserves | 130/1 | €248 | €248 | = | 0.0% |
| Legal reserve | 130 | €248 | €248 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,188 | €28,564 | +€21,375 | +297% |
| Amounts payable | 17/49 | €126,197 | €65,803 | -€60,394 | -47.9% |
| Amounts payable within one year | 42/48 | €126,197 | €65,803 | -€60,394 | -47.9% |
| Trade debts | 44 | €604 | €4,673 | +€4,068 | +673% |
| Suppliers | 440/4 | €604 | €4,673 | +€4,068 | +673% |
| Taxes, remuneration and social security | 45 | €2,047 | €2,886 | +€839 | +41.0% |
| Taxes | 450/3 | €2,047 | €2,886 | +€839 | +41.0% |
| Other amounts payable | 47/48 | €123,546 | €58,245 | -€65,301 | -52.9% |
| Remuneration, social security and pensions | 62 | €1,386 | €10 | -€1,377 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,087 | €2,087 | = | 0.0% |
| Other operating charges | 640/8 | €140 | €140 | = | 0.0% |
| Gross operating margin | 9900 | €92,719 | €77,480 | -€15,239 | -16.4% |
| Operating profit (loss) | 9901 | €89,106 | €75,244 | -€13,862 | -15.6% |
| Financial charges | 65/66B | €2,476 | €213 | -€2,263 | -91.4% |
| Recurring financial charges | 65 | €2,476 | €213 | -€2,263 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €86,630 | €75,031 | -€11,599 | -13.4% |
| Income taxes | 67/77 | €9,950 | €8,655 | -€1,294 | -13.0% |
| Profit (loss) for the period | 9904 | €76,680 | €66,375 | -€10,305 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,680 | €66,375 | -€10,305 | -13.4% |
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.