KAMMCO: 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.
KAMMCO
Largest movements
- Cash +€98,760
up €98,760 (+37.2%), from €265,623 to €364,382
mainly Net result for the year (+€67,366) and Receivables within one year (+€52,827)
- Receivables within one year -€52,827
down €52,827 (-55.7%), from €94,758 to €41,931
of which Trade receivables: -€52,827
- Deferred charges and accrued income -€9,949
down €9,949 (-61.9%), from €16,069 to €6,120
- Reserves +€67,366
up €67,366 (+18.2%), from €370,385 to €437,751
of which Distributable reserves: +€51,707
- Trade debts -€12,849
down €12,849 (-92.9%), from €13,826 to €977
- Tax, wage and social debts -€8,754
down €8,754 (-48.6%), from €18,004 to €9,250
of which Remuneration and social security: -€5,800
- Gross operating margin +€15,065
up €15,065 (+19.4%), from €77,596 to €92,660
- Taxes +€8,832
up €8,832 (+57.2%), from €15,440 to €24,272
- Financial income +€5,050
up €5,050 (+1,079%), from €468 to €5,518
- Financial charges -€2,766
down €2,766 (-38.2%), from €7,237 to €4,471
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 | €473,155 | €512,191 | +€39,037 | +8.3% |
| Fixed assets | 21/28 | €3,043 | €4,420 | +€1,378 | +45.3% |
| Tangible fixed assets | 22/27 | €2,443 | €3,820 | +€1,378 | +56.4% |
| Furniture and vehicles | 24 | €1,375 | €2,144 | +€768 | +55.8% |
| Other tangible fixed assets | 26 | €1,067 | €1,677 | +€610 | +57.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €470,112 | €507,771 | +€37,659 | +8.0% |
| Amounts receivable within one year | 40/41 | €94,758 | €41,931 | -€52,827 | -55.7% |
| Trade receivables | 40 | €90,104 | €37,276 | -€52,827 | -58.6% |
| Other amounts receivable | 41 | €4,655 | €4,655 | = | 0.0% |
| Current investments | 50/53 | €93,662 | €95,337 | +€1,675 | +1.8% |
| Cash at bank and in hand | 54/58 | €265,623 | €364,382 | +€98,760 | +37.2% |
| Deferred charges and accrued income | 490/1 | €16,069 | €6,120 | -€9,949 | -61.9% |
| Total equity and liabilities | 10/49 | €473,155 | €512,191 | +€39,037 | +8.3% |
| Equity | 10/15 | €431,269 | €498,634 | +€67,366 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €370,385 | €437,751 | +€67,366 | +18.2% |
| Tax-exempt reserves | 132 | €68,541 | €84,200 | +€15,659 | +22.8% |
| Distributable reserves | 133 | €301,844 | €353,551 | +€51,707 | +17.1% |
| Profit (loss) carried forward | 14 | €42,283 | €42,283 | = | 0.0% |
| Amounts payable | 17/49 | €41,886 | €13,557 | -€28,329 | -67.6% |
| Amounts payable within one year | 42/48 | €41,886 | €13,557 | -€28,329 | -67.6% |
| Financial debts | 43 | €3,277 | €60 | -€3,217 | -98.2% |
| Credit institutions | 430/8 | €3,277 | €60 | -€3,217 | -98.2% |
| Trade debts | 44 | €13,826 | €977 | -€12,849 | -92.9% |
| Suppliers | 440/4 | €13,826 | €977 | -€12,849 | -92.9% |
| Taxes, remuneration and social security | 45 | €18,004 | €9,250 | -€8,754 | -48.6% |
| Taxes | 450/3 | €12,204 | €9,250 | -€2,954 | -24.2% |
| Remuneration and social security | 454/9 | €5,800 | - | -€5,800 | |
| Other amounts payable | 47/48 | €6,779 | €3,270 | -€3,509 | -51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,170 | €1,554 | +€384 | +32.9% |
| Other operating charges | 640/8 | €462 | €515 | +€53 | +11.5% |
| Gross operating margin | 9900 | €77,596 | €92,660 | +€15,065 | +19.4% |
| Operating profit (loss) | 9901 | €75,964 | €90,591 | +€14,627 | +19.3% |
| Financial income | 75/76B | €468 | €5,518 | +€5,050 | +1,079% |
| Recurring financial income | 75 | €468 | €5,518 | +€5,050 | +1,079% |
| Financial charges | 65/66B | €7,237 | €4,471 | -€2,766 | -38.2% |
| Recurring financial charges | 65 | €7,237 | €4,471 | -€2,766 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €69,195 | €91,638 | +€22,443 | +32.4% |
| Income taxes | 67/77 | €15,440 | €24,272 | +€8,832 | +57.2% |
| Profit (loss) for the period | 9904 | €53,755 | €67,366 | +€13,611 | +25.3% |
| Transfer to tax-exempt reserves | 689 | €26,878 | €15,659 | -€11,219 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,878 | €51,707 | +€24,829 | +92.4% |
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 19 October 2026 via checked.be.