KCMV: what changed
KCMV
Largest movements
- Receivables within one year -€16,640
down €16,640 (-58.5%), from €28,435 to €11,795
of which Trade receivables: -€16,736
- Deferred charges and accrued income +€3,209
up €3,209 (+199%), from €1,609 to €4,818
- Cash -€2,932
down €2,932 (-30.8%), from €9,533 to €6,601
mainly Debts after one year (-€48,185) and Tax, wage and social debts (-€3,859)
- Debts after one year -€48,185
down €48,185 (-40.4%), from €119,206 to €71,021
- Reserves +€34,368
up €34,368 (+33.6%), from €102,295 to €136,662
- Tax, wage and social debts -€3,859
down €3,859 (-35.3%), from €10,932 to €7,072
of which Taxes: -€3,859
- Gross operating margin -€11,559
down €11,559 (-18.8%), from €61,568 to €50,009
- Taxes -€2,717
down €2,717 (-18.3%), from €14,821 to €12,104
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €258,826 | €241,718 | -€17,107 | -6.6% |
| Fixed assets | 21/28 | €219,248 | €218,505 | -€744 | -0.3% |
| Tangible fixed assets | 22/27 | €998 | €255 | -€744 | -74.5% |
| Furniture and vehicles | 24 | €998 | €255 | -€744 | -74.5% |
| Financial fixed assets | 28 | €218,250 | €218,250 | = | 0.0% |
| Current assets | 29/58 | €39,577 | €23,214 | -€16,364 | -41.3% |
| Amounts receivable within one year | 40/41 | €28,435 | €11,795 | -€16,640 | -58.5% |
| Trade receivables | 40 | €28,435 | €11,699 | -€16,736 | -58.9% |
| Other amounts receivable | 41 | - | €96 | +€96 | |
| Cash at bank and in hand | 54/58 | €9,533 | €6,601 | -€2,932 | -30.8% |
| Deferred charges and accrued income | 490/1 | €1,609 | €4,818 | +€3,209 | +199% |
| Total equity and liabilities | 10/49 | €258,826 | €241,718 | -€17,107 | -6.6% |
| Equity | 10/15 | €105,295 | €139,662 | +€34,368 | +32.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €102,295 | €136,662 | +€34,368 | +33.6% |
| Distributable reserves | 133 | €102,295 | €136,662 | +€34,368 | +33.6% |
| Amounts payable | 17/49 | €153,531 | €102,056 | -€51,475 | -33.5% |
| Amounts payable after more than one year | 17 | €119,206 | €71,021 | -€48,185 | -40.4% |
| Financial debts | 170/4 | €119,206 | €71,021 | -€48,185 | -40.4% |
| Amounts payable within one year | 42/48 | €33,610 | €30,207 | -€3,403 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €12,752 | €12,985 | +€233 | +1.8% |
| Trade debts | 44 | €1,003 | €1,732 | +€729 | +72.6% |
| Suppliers | 440/4 | €1,003 | €1,732 | +€729 | +72.6% |
| Taxes, remuneration and social security | 45 | €10,932 | €7,072 | -€3,859 | -35.3% |
| Taxes | 450/3 | €10,932 | €7,072 | -€3,859 | -35.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,923 | €8,417 | -€506 | -5.7% |
| Accrued charges and deferred income | 492/3 | €714 | €828 | +€113 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €784 | €744 | -€40 | -5.1% |
| Other operating charges | 640/8 | €847 | €964 | +€117 | +13.8% |
| Gross operating margin | 9900 | €61,568 | €50,009 | -€11,559 | -18.8% |
| Operating profit (loss) | 9901 | €59,937 | €48,301 | -€11,636 | -19.4% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €2,124 | €1,829 | -€295 | -13.9% |
| Recurring financial charges | 65 | €2,124 | €1,829 | -€295 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €57,812 | €46,472 | -€11,341 | -19.6% |
| Income taxes | 67/77 | €14,821 | €12,104 | -€2,717 | -18.3% |
| Profit (loss) for the period | 9904 | €42,991 | €34,368 | -€8,623 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,991 | €34,368 | -€8,623 | -20.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.