KCLM: 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.
KCLM
Largest movements
- Tangible fixed assets +€378,658
up €378,658 (+14.9%), from €2.5m to €2.9m
of which Land and buildings: +€379,276
- Cash -€30,326
down €30,326 (-65.8%), from €46,073 to €15,747
mainly Investment in fixed assets (net) (-€444,535) and Net result for the year (-€85,297)
- Debts after one year +€417,507
up €417,507 (+18.2%), from €2.3m to €2.7m
- Profit (loss) carried forward -€85,297
down €85,297 (-35.7%), from -€238,853 to -€324,150
- Gross operating margin -€65,989
down €65,989 (-59.0%), from €111,814 to €45,825
- Depreciation +€11,164
up €11,164 (+20.4%), from €54,712 to €65,876
- Financial charges +€9,533
up €9,533 (+24.6%), from €38,679 to €48,212
- Other operating charges +€1,713
up €1,713 (+11.2%), from €15,320 to €17,033
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 | €2,586,091 | €2,933,664 | +€347,574 | +13.4% |
| Fixed assets | 21/28 | €2,539,259 | €2,917,917 | +€378,658 | +14.9% |
| Tangible fixed assets | 22/27 | €2,539,259 | €2,917,917 | +€378,658 | +14.9% |
| Land and buildings | 22 | €2,532,216 | €2,911,492 | +€379,276 | +15.0% |
| Plant, machinery and equipment | 23 | €7,043 | €6,425 | -€618 | -8.8% |
| Current assets | 29/58 | €46,832 | €15,747 | -€31,085 | -66.4% |
| Cash at bank and in hand | 54/58 | €46,073 | €15,747 | -€30,326 | -65.8% |
| Deferred charges and accrued income | 490/1 | €759 | - | -€759 | |
| Total equity and liabilities | 10/49 | €2,586,091 | €2,933,664 | +€347,574 | +13.4% |
| Equity | 10/15 | -€11,721 | -€97,018 | -€85,297 | -727.7% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Reserves | 13 | €8,532 | €8,532 | = | 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 | €6,672 | €6,672 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,853 | -€324,150 | -€85,297 | -35.7% |
| Amounts payable | 17/49 | €2,597,812 | €3,030,682 | +€432,870 | +16.7% |
| Amounts payable after more than one year | 17 | €2,295,253 | €2,712,760 | +€417,507 | +18.2% |
| Financial debts | 170/4 | €2,295,253 | €2,712,760 | +€417,507 | +18.2% |
| Amounts payable within one year | 42/48 | €287,572 | €291,134 | +€3,562 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €70,587 | €71,792 | +€1,205 | +1.7% |
| Trade debts | 44 | €1,726 | €1,742 | +€16 | +0.9% |
| Suppliers | 440/4 | €1,726 | €1,742 | +€16 | +0.9% |
| Other amounts payable | 47/48 | €215,259 | €217,600 | +€2,341 | +1.1% |
| Accrued charges and deferred income | 492/3 | €14,987 | €26,788 | +€11,801 | +78.7% |
| Non-recurring operating income | 76A | €64,092 | - | -€64,092 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,712 | €65,876 | +€11,164 | +20.4% |
| Other operating charges | 640/8 | €15,320 | €17,033 | +€1,713 | +11.2% |
| Gross operating margin | 9900 | €111,814 | €45,825 | -€65,989 | -59.0% |
| Operating profit (loss) | 9901 | €41,781 | -€37,085 | -€78,866 | |
| Financial charges | 65/66B | €38,679 | €48,212 | +€9,533 | +24.6% |
| Recurring financial charges | 65 | €38,679 | €48,212 | +€9,533 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €3,102 | -€85,297 | -€88,399 | |
| Profit (loss) for the period | 9904 | €3,102 | -€85,297 | -€88,399 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,102 | -€85,297 | -€88,399 |
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 8 October 2026 via checked.be.