KGM Management: 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.
KGM Management
Largest movements
- Receivables within one year +€7,827
up €7,827 (+20.0%), from €39,229 to €47,056
of which Trade receivables: +€7,830
- Cash +€6,616
up €6,616 (+11.7%), from €56,582 to €63,199
mainly Trade debts (+€20,005) and Other debts (+€2,620)
- Stocks and contracts +€3,678
up €3,678 (+12.8%), from €28,740 to €32,418
- Tangible fixed assets +€2,757
up €2,757 (+124%), from €2,215 to €4,972
of which Furniture and vehicles: +€3,446
- Trade debts +€20,005
up €20,005 (+176%), from €11,397 to €31,402
- Other debts +€2,620
up €2,620 (+7.6%), from €34,604 to €37,223
- Tax, wage and social debts -€1,634
down €1,634 (-10.3%), from €15,930 to €14,297
- Gross operating margin -€19,831
down €19,831 (-74.5%), from €26,625 to €6,793
- Taxes -€6,994
down €6,994 (-83.8%), from €8,349 to €1,355
- Other operating charges +€295
up €295 (+17.1%), from €1,725 to €2,020
- Financial income -€277
down €277 (-91.7%), from €302 to €25
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 | €129,648 | €150,832 | +€21,184 | +16.3% |
| Fixed assets | 21/28 | €2,215 | €4,972 | +€2,757 | +124% |
| Tangible fixed assets | 22/27 | €2,215 | €4,972 | +€2,757 | +124% |
| Land and buildings | 22 | €2,215 | €1,526 | -€689 | -31.1% |
| Furniture and vehicles | 24 | - | €3,446 | +€3,446 | |
| Current assets | 29/58 | €127,433 | €145,860 | +€18,427 | +14.5% |
| Stocks and contracts in progress | 3 | €28,740 | €32,418 | +€3,678 | +12.8% |
| Stocks | 30/36 | €28,740 | €32,418 | +€3,678 | +12.8% |
| Amounts receivable within one year | 40/41 | €39,229 | €47,056 | +€7,827 | +20.0% |
| Trade receivables | 40 | €39,226 | €47,056 | +€7,830 | +20.0% |
| Other amounts receivable | 41 | €3 | - | -€3 | |
| Cash at bank and in hand | 54/58 | €56,582 | €63,199 | +€6,616 | +11.7% |
| Deferred charges and accrued income | 490/1 | €2,882 | €3,187 | +€305 | +10.6% |
| Total equity and liabilities | 10/49 | €129,648 | €150,832 | +€21,184 | +16.3% |
| Equity | 10/15 | €67,717 | €67,684 | -€33 | 0.0% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €39,459 | €39,459 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,450 | €1,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,450 | €1,450 | = | 0.0% |
| Distributable reserves | 133 | €38,009 | €38,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,458 | €3,425 | -€33 | -0.9% |
| Amounts payable | 17/49 | €61,931 | €83,148 | +€21,217 | +34.3% |
| Amounts payable within one year | 42/48 | €61,931 | €82,922 | +€20,991 | +33.9% |
| Trade debts | 44 | €11,397 | €31,402 | +€20,005 | +176% |
| Suppliers | 440/4 | €11,397 | €31,402 | +€20,005 | +176% |
| Taxes, remuneration and social security | 45 | €15,930 | €14,297 | -€1,634 | -10.3% |
| Taxes | 450/3 | €15,930 | €14,297 | -€1,634 | -10.3% |
| Other amounts payable | 47/48 | €34,604 | €37,223 | +€2,620 | +7.6% |
| Accrued charges and deferred income | 492/3 | - | €226 | +€226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €689 | €831 | +€142 | +20.6% |
| Other operating charges | 640/8 | €1,725 | €2,020 | +€295 | +17.1% |
| Gross operating margin | 9900 | €26,625 | €6,793 | -€19,831 | -74.5% |
| Operating profit (loss) | 9901 | €24,212 | €3,943 | -€20,269 | -83.7% |
| Financial income | 75/76B | €302 | €25 | -€277 | -91.7% |
| Recurring financial income | 75 | €302 | €25 | -€277 | -91.7% |
| Financial charges | 65/66B | €2,748 | €2,646 | -€102 | -3.7% |
| Recurring financial charges | 65 | €2,748 | €2,646 | -€102 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €21,765 | €1,322 | -€20,443 | -93.9% |
| Income taxes | 67/77 | €8,349 | €1,355 | -€6,994 | -83.8% |
| Profit (loss) for the period | 9904 | €13,417 | -€33 | -€13,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,417 | -€33 | -€13,449 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.