KAMA: 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.
KAMA
Largest movements
- Financial fixed assets -€498,715
down €498,715 (-34.0%), from €1.5m to €968,344
- Cash +€388,069
up €388,069 (+186%), from €208,499 to €596,568
mainly Net result for the year (+€1.4m) and Investment in fixed assets (net) (+€330,399)
- Receivables after one year +€240,000
up €240,000 (+80.0%), from €300,000 to €540,000
- Receivables within one year +€195,368
up €195,368 (+58.4%), from €334,431 to €529,799
of which Trade receivables: +€219,291
- Reserves +€1.4m
up €1.4m (+30.9%), from €4.5m to €5.9m
of which Distributable reserves: +€1.4m
- Debts after one year -€899,687
down €899,687 (-55.8%), from €1.6m to €711,471
- Tax, wage and social debts -€103,099
down €103,099 (-46.1%), from €223,604 to €120,505
of which Taxes: -€117,292
- Financial charges -€179,739
down €179,739, from €146,204 to -€33,535
- Staff costs -€101,478
down €101,478 (-18.8%), from €540,315 to €438,837
- Taxes -€65,571
down €65,571 (-19.4%), from €337,925 to €272,354
- Gross operating margin +€26,391
up €26,391 (+1.6%), from €1.6m to €1.7m
- Depreciation +€20,178
up €20,178 (+13.6%), from €148,622 to €168,800
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,658,028 | €6,983,697 | +€325,668 | +4.9% |
| Fixed assets | 21/28 | €5,813,577 | €5,314,378 | -€499,199 | -8.6% |
| Intangible fixed assets | 21 | - | €3,545 | +€3,545 | |
| Tangible fixed assets | 22/27 | €4,346,518 | €4,342,489 | -€4,029 | -0.1% |
| Land and buildings | 22 | €4,246,773 | €4,228,736 | -€18,037 | -0.4% |
| Furniture and vehicles | 24 | €99,746 | €113,754 | +€14,008 | +14.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,467,059 | €968,344 | -€498,715 | -34.0% |
| Current assets | 29/58 | €844,451 | €1,669,319 | +€824,868 | +97.7% |
| Amounts receivable after more than one year | 29 | €300,000 | €540,000 | +€240,000 | +80.0% |
| Other amounts receivable | 291 | €300,000 | €540,000 | +€240,000 | +80.0% |
| Amounts receivable within one year | 40/41 | €334,431 | €529,799 | +€195,368 | +58.4% |
| Trade receivables | 40 | €292,650 | €511,941 | +€219,291 | +74.9% |
| Other amounts receivable | 41 | €41,781 | €17,858 | -€23,924 | -57.3% |
| Cash at bank and in hand | 54/58 | €208,499 | €596,568 | +€388,069 | +186% |
| Deferred charges and accrued income | 490/1 | €1,521 | €2,952 | +€1,432 | +94.1% |
| Total equity and liabilities | 10/49 | €6,658,028 | €6,983,697 | +€325,668 | +4.9% |
| Equity | 10/15 | €4,513,702 | €5,898,783 | +€1.4m | +30.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,488,702 | €5,873,783 | +€1.4m | +30.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €4,488,702 | €5,873,783 | +€1.4m | +30.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,144,327 | €1,084,914 | -€1.1m | -49.4% |
| Amounts payable after more than one year | 17 | €1,611,158 | €711,471 | -€899,687 | -55.8% |
| Financial debts | 170/4 | €1,611,158 | €711,471 | -€899,687 | -55.8% |
| Amounts payable within one year | 42/48 | €461,159 | €357,633 | -€103,526 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €172,950 | €174,687 | +€1,737 | +1.0% |
| Financial debts | 43 | €53,516 | €0 | -€53,516 | -100% |
| Credit institutions | 430/8 | €53,516 | €0 | -€53,516 | -100% |
| Trade debts | 44 | €11,089 | €14,078 | +€2,989 | +27.0% |
| Suppliers | 440/4 | €11,089 | €14,078 | +€2,989 | +27.0% |
| Taxes, remuneration and social security | 45 | €223,604 | €120,505 | -€103,099 | -46.1% |
| Taxes | 450/3 | €168,902 | €51,610 | -€117,292 | -69.4% |
| Remuneration and social security | 454/9 | €54,702 | €68,895 | +€14,193 | +25.9% |
| Other amounts payable | 47/48 | €0 | €48,363 | +€48,363 | |
| Accrued charges and deferred income | 492/3 | €72,010 | €15,810 | -€56,200 | -78.0% |
| Non-recurring operating income | 76A | €12,000 | €2,000 | -€10,001 | -83.3% |
| Remuneration, social security and pensions | 62 | €540,315 | €438,837 | -€101,478 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,622 | €168,800 | +€20,178 | +13.6% |
| Other operating charges | 640/8 | €15,347 | €16,555 | +€1,208 | +7.9% |
| Gross operating margin | 9900 | €1,628,830 | €1,655,221 | +€26,391 | +1.6% |
| Operating profit (loss) | 9901 | €924,546 | €1,031,029 | +€106,483 | +11.5% |
| Financial income | 75/76B | €590,206 | €592,871 | +€2,666 | +0.5% |
| Recurring financial income | 75 | €17,906 | €16,235 | -€1,671 | -9.3% |
| Non-recurring financial income | 76B | €572,300 | €576,637 | +€4,337 | +0.8% |
| Financial charges | 65/66B | €146,204 | -€33,535 | -€179,739 | |
| Recurring financial charges | 65 | €146,204 | -€33,535 | -€179,739 | |
| Profit (loss) for the period before taxes | 9903 | €1,368,547 | €1,657,435 | +€288,888 | +21.1% |
| Income taxes | 67/77 | €337,925 | €272,354 | -€65,571 | -19.4% |
| Profit (loss) for the period | 9904 | €1,030,622 | €1,385,081 | +€354,459 | +34.4% |
| Transfer from tax-exempt reserves | 789 | €715,700 | €0 | -€715,700 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,746,322 | €1,385,081 | -€361,241 | -20.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.