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
- Cash -€14,522
down €14,522 (-8.6%), from €168,787 to €154,265
mainly Other debts (-€28,295) and Trade debts (-€7,463)
- Receivables within one year -€4,827
down €4,827 (-47.4%), from €10,190 to €5,362
of which Trade receivables: -€3,651
- Other debts -€28,295
down €28,295 (-36.6%), from €77,375 to €49,080
- Trade debts -€7,463
no longer reported in 2025 (was €7,463)
- Reserves +€5,913
up €5,913 (+8.0%), from €74,151 to €80,064
- Provisions +€4,350
new in 2025: €4,350
- Tax, wage and social debts +€3,883
up €3,883 (+775.6%), from €501 to €4,383
- Gross operating margin -€130,620
down €130,620 (-89.3%), from €146,249 to €15,629
- Taxes -€39,890
down €39,890 (-93.1%), from €42,824 to €2,934
- Provisions +€4,350
new in 2025: €4,350
- Financial income -€3,854
no longer reported in 2025 (was €3,854)
- Financial charges -€3,394
down €3,394 (-98.1%), from €3,460 to €66
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 | €179,489 | €159,627 | -€19,862 | -11.1% |
| Fixed assets | 21/28 | €513 | - | -€513 | |
| Tangible fixed assets | 22/27 | €513 | - | -€513 | |
| Furniture and vehicles | 24 | €513 | - | -€513 | |
| Current assets | 29/58 | €178,977 | €159,627 | -€19,349 | -10.8% |
| Amounts receivable within one year | 40/41 | €10,190 | €5,362 | -€4,827 | -47.4% |
| Trade receivables | 40 | €8,995 | €5,344 | -€3,651 | -40.6% |
| Other amounts receivable | 41 | €1,194 | €18 | -€1,176 | -98.5% |
| Cash at bank and in hand | 54/58 | €168,787 | €154,265 | -€14,522 | -8.6% |
| Total equity and liabilities | 10/49 | €179,489 | €159,627 | -€19,862 | -11.1% |
| Equity | 10/15 | €94,151 | €101,814 | +€7,663 | +8.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €74,151 | €80,064 | +€5,913 | +8.0% |
| Distributable reserves | 133 | €74,151 | €80,064 | +€5,913 | +8.0% |
| Profit (loss) carried forward | 14 | - | €1,750 | +€1,750 | |
| Provisions and deferred taxes | 16 | - | €4,350 | +€4,350 | |
| Provisions for liabilities and charges | 160/5 | - | €4,350 | +€4,350 | |
| Other liabilities and charges | 164/5 | - | €4,350 | +€4,350 | |
| Amounts payable | 17/49 | €85,339 | €53,463 | -€31,875 | -37.4% |
| Amounts payable within one year | 42/48 | €85,339 | €53,463 | -€31,875 | -37.4% |
| Trade debts | 44 | €7,463 | - | -€7,463 | |
| Suppliers | 440/4 | €7,463 | - | -€7,463 | |
| Taxes, remuneration and social security | 45 | €501 | €4,383 | +€3,883 | +775.6% |
| Taxes | 450/3 | €501 | €4,383 | +€3,883 | +775.6% |
| Other amounts payable | 47/48 | €77,375 | €49,080 | -€28,295 | -36.6% |
| Non-recurring operating income | 76A | €146,350 | €7,537 | -€138,813 | -94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480 | - | -€480 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €4,350 | +€4,350 | |
| Other operating charges | 640/8 | €2,541 | €616 | -€1,925 | -75.8% |
| Gross operating margin | 9900 | €146,249 | €15,629 | -€130,620 | -89.3% |
| Operating profit (loss) | 9901 | €143,229 | €10,663 | -€132,566 | -92.6% |
| Financial income | 75/76B | €3,854 | - | -€3,854 | |
| Recurring financial income | 75 | €3,854 | - | -€3,854 | |
| Financial charges | 65/66B | €3,460 | €66 | -€3,394 | -98.1% |
| Recurring financial charges | 65 | €3,460 | €66 | -€3,394 | -98.1% |
| Profit (loss) for the period before taxes | 9903 | €143,623 | €10,597 | -€133,025 | -92.6% |
| Income taxes | 67/77 | €42,824 | €2,934 | -€39,890 | -93.1% |
| Profit (loss) for the period | 9904 | €100,799 | €7,663 | -€93,136 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €100,799 | €7,663 | -€93,136 | -92.4% |
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.