KAMD: 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.
KAMD
Largest movements
- Tangible fixed assets -€88,456
down €88,456 (-21.3%), from €414,339 to €325,883
of which Furniture and vehicles: -€71,447
- Receivables within one year +€22,578
up €22,578 (+12.6%), from €179,401 to €201,979
of which Trade receivables: +€22,036
- Deferred charges and accrued income -€7,906
no longer reported in 2025 (was €7,906)
- Debts after one year -€45,379
down €45,379 (-70.3%), from €64,509 to €19,130
- Current portion of long-term debt -€42,130
down €42,130 (-39.8%), from €105,798 to €63,668
- Trade debts +€21,741
up €21,741 (+32.2%), from €67,522 to €89,263
- Other debts -€14,776
down €14,776 (-14.5%), from €102,066 to €87,290
- Gross operating margin -€32,839
down €32,839 (-7.0%), from €468,517 to €435,678
- Depreciation -€23,185
down €23,185 (-19.4%), from €119,242 to €96,056
- Other operating charges +€9,065
up €9,065 (+54.4%), from €16,677 to €25,742
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 | €654,703 | €574,789 | -€79,914 | -12.2% |
| Fixed assets | 21/28 | €445,649 | €356,607 | -€89,041 | -20.0% |
| Intangible fixed assets | 21 | €1,130 | €545 | -€585 | -51.8% |
| Tangible fixed assets | 22/27 | €414,339 | €325,883 | -€88,456 | -21.3% |
| Land and buildings | 22 | €111,785 | €96,588 | -€15,197 | -13.6% |
| Plant, machinery and equipment | 23 | €2,775 | €962 | -€1,813 | -65.3% |
| Furniture and vehicles | 24 | €299,779 | €228,332 | -€71,447 | -23.8% |
| Financial fixed assets | 28 | €30,180 | €30,180 | = | 0.0% |
| Current assets | 29/58 | €209,054 | €218,181 | +€9,127 | +4.4% |
| Amounts receivable within one year | 40/41 | €179,401 | €201,979 | +€22,578 | +12.6% |
| Trade receivables | 40 | €155,401 | €177,436 | +€22,036 | +14.2% |
| Other amounts receivable | 41 | €24,000 | €24,543 | +€543 | +2.3% |
| Cash at bank and in hand | 54/58 | €21,747 | €16,202 | -€5,545 | -25.5% |
| Deferred charges and accrued income | 490/1 | €7,906 | - | -€7,906 | |
| Total equity and liabilities | 10/49 | €654,703 | €574,789 | -€79,914 | -12.2% |
| Equity | 10/15 | €267,349 | €265,069 | -€2,280 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,860 | €59,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €58,000 | €58,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,889 | €186,609 | -€2,280 | -1.2% |
| Amounts payable | 17/49 | €387,354 | €309,720 | -€77,634 | -20.0% |
| Amounts payable after more than one year | 17 | €64,509 | €19,130 | -€45,379 | -70.3% |
| Financial debts | 170/4 | €64,509 | €19,130 | -€45,379 | -70.3% |
| Amounts payable within one year | 42/48 | €322,845 | €290,590 | -€32,255 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €105,798 | €63,668 | -€42,130 | -39.8% |
| Trade debts | 44 | €67,522 | €89,263 | +€21,741 | +32.2% |
| Suppliers | 440/4 | €67,522 | €89,263 | +€21,741 | +32.2% |
| Taxes, remuneration and social security | 45 | €47,460 | €50,370 | +€2,910 | +6.1% |
| Taxes | 450/3 | €16,550 | €25,435 | +€8,885 | +53.7% |
| Remuneration and social security | 454/9 | €30,910 | €24,935 | -€5,975 | -19.3% |
| Other amounts payable | 47/48 | €102,066 | €87,290 | -€14,776 | -14.5% |
| Remuneration, social security and pensions | 62 | €311,708 | €311,287 | -€420 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,242 | €96,056 | -€23,185 | -19.4% |
| Other operating charges | 640/8 | €16,677 | €25,742 | +€9,065 | +54.4% |
| Gross operating margin | 9900 | €468,517 | €435,678 | -€32,839 | -7.0% |
| Operating profit (loss) | 9901 | €20,891 | €2,593 | -€18,298 | -87.6% |
| Financial income | 75/76B | €35 | €57 | +€22 | +63.4% |
| Recurring financial income | 75 | €35 | €57 | +€22 | +63.4% |
| Financial charges | 65/66B | €9,758 | €5,304 | -€4,453 | -45.6% |
| Recurring financial charges | 65 | €9,758 | €5,304 | -€4,453 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €11,168 | -€2,654 | -€13,823 | |
| Income taxes | 67/77 | - | -€374 | -€374 | |
| Profit (loss) for the period | 9904 | €11,168 | -€2,280 | -€13,448 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,168 | -€2,280 | -€13,448 |
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 9 October 2026 via checked.be.