KM: 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.
KM
Largest movements
- Receivables within one year +€62,878
up €62,878 (+106429.0%), from €59 to €62,937
- Deferred charges and accrued income +€41,977
up €41,977 (+11.6%), from €361,494 to €403,472
- Cash -€23,809
down €23,809 (-15.1%), from €157,589 to €133,781
mainly Contributions, distributions and other (-€88,127) and Other debts (-€73,728)
- Tangible fixed assets -€7,714
down €7,714 (-11.5%), from €66,962 to €59,248
of which Other tangible fixed assets: -€7,515
- Reserves +€202,572
up €202,572 (+61.5%), from €329,567 to €532,139
- Other debts -€73,728
down €73,728 (-98.9%), from €74,561 to €833
- Debts after one year -€42,025
down €42,025 (-49.3%), from €85,178 to €43,153
- Tax, wage and social debts -€11,322
down €11,322 (-56.6%), from €20,016 to €8,694
- Trade debts -€10,099
down €10,099 (-83.3%), from €12,130 to €2,032
- Gross operating margin -€41,953
down €41,953 (-9.5%), from €441,775 to €399,822
- Taxes -€13,896
down €13,896 (-13.3%), from €104,705 to €90,809
- Financial income -€9,950
down €9,950 (-98.9%), from €10,065 to €115
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 | €586,104 | €659,438 | +€73,334 | +12.5% |
| Fixed assets | 21/28 | €66,962 | €59,248 | -€7,714 | -11.5% |
| Tangible fixed assets | 22/27 | €66,962 | €59,248 | -€7,714 | -11.5% |
| Furniture and vehicles | 24 | €3,066 | €2,868 | -€199 | -6.5% |
| Other tangible fixed assets | 26 | €63,896 | €56,381 | -€7,515 | -11.8% |
| Current assets | 29/58 | €519,142 | €600,190 | +€81,047 | +15.6% |
| Amounts receivable within one year | 40/41 | €59 | €62,937 | +€62,878 | +106429.0% |
| Other amounts receivable | 41 | €59 | €62,937 | +€62,878 | +106429.0% |
| Cash at bank and in hand | 54/58 | €157,589 | €133,781 | -€23,809 | -15.1% |
| Deferred charges and accrued income | 490/1 | €361,494 | €403,472 | +€41,977 | +11.6% |
| Total equity and liabilities | 10/49 | €586,104 | €659,438 | +€73,334 | +12.5% |
| Equity | 10/15 | €332,567 | €535,139 | +€202,572 | +60.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €329,567 | €532,139 | +€202,572 | +61.5% |
| Distributable reserves | 133 | €329,567 | €532,139 | +€202,572 | +61.5% |
| Amounts payable | 17/49 | €253,537 | €124,299 | -€129,239 | -51.0% |
| Amounts payable after more than one year | 17 | €85,178 | €43,153 | -€42,025 | -49.3% |
| Financial debts | 170/4 | €85,178 | €43,153 | -€42,025 | -49.3% |
| Amounts payable within one year | 42/48 | €167,634 | €78,959 | -€88,676 | -52.9% |
| Current portion of amounts payable after more than one year | 42 | €60,928 | €67,400 | +€6,473 | +10.6% |
| Trade debts | 44 | €12,130 | €2,032 | -€10,099 | -83.3% |
| Suppliers | 440/4 | €12,130 | €2,032 | -€10,099 | -83.3% |
| Taxes, remuneration and social security | 45 | €20,016 | €8,694 | -€11,322 | -56.6% |
| Taxes | 450/3 | €20,016 | €8,694 | -€11,322 | -56.6% |
| Other amounts payable | 47/48 | €74,561 | €833 | -€73,728 | -98.9% |
| Accrued charges and deferred income | 492/3 | €725 | €2,187 | +€1,462 | +201.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,087 | €8,803 | -€284 | -3.1% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | - | €210 | +€210 | |
| Gross operating margin | 9900 | €441,775 | €399,822 | -€41,953 | -9.5% |
| Operating profit (loss) | 9901 | €432,175 | €390,282 | -€41,893 | -9.7% |
| Financial income | 75/76B | €10,065 | €115 | -€9,950 | -98.9% |
| Recurring financial income | 75 | €10,065 | €115 | -€9,950 | -98.9% |
| Financial charges | 65/66B | €7,135 | €8,888 | +€1,754 | +24.6% |
| Recurring financial charges | 65 | €7,135 | €8,888 | +€1,754 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €435,105 | €381,509 | -€53,597 | -12.3% |
| Income taxes | 67/77 | €104,705 | €90,809 | -€13,896 | -13.3% |
| Profit (loss) for the period | 9904 | €330,400 | €290,700 | -€39,701 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €330,400 | €290,700 | -€39,701 | -12.0% |
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 29 September 2026 via checked.be.