KM-E: 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.
KM-E
Largest movements
- Cash -€97,580
down €97,580 (-47.3%), from €206,128 to €108,548
mainly Receivables within one year (-€48,541) and Trade debts (-€46,503)
- Receivables within one year +€48,541
up €48,541 (+52.9%), from €91,740 to €140,281
of which Trade receivables: +€42,541
- Stocks and contracts +€18,790
up €18,790 (+16.2%), from €116,048 to €134,838
- Tangible fixed assets -€9,686
down €9,686 (-26.2%), from €36,942 to €27,256
- Reserves +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Trade debts -€46,503
down €46,503 (-91.6%), from €50,747 to €4,244
- Tax, wage and social debts -€31,056
down €31,056 (-45.5%), from €68,228 to €37,172
- Debts after one year -€29,310
down €29,310 (-15.0%), from €194,777 to €165,467
- Profit (loss) carried forward +€20,493
up €20,493 (+6,766%), from €303 to €20,796
- Gross operating margin -€38,672
down €38,672 (-26.0%), from €148,595 to €109,923
- Taxes -€7,355
down €7,355 (-27.7%), from €26,533 to €19,178
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 | €450,858 | €412,209 | -€38,649 | -8.6% |
| Fixed assets | 21/28 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Tangible fixed assets | 22/27 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Furniture and vehicles | 24 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Current assets | 29/58 | €413,915 | €384,953 | -€28,962 | -7.0% |
| Stocks and contracts in progress | 3 | €116,048 | €134,838 | +€18,790 | +16.2% |
| Stocks | 30/36 | €116,048 | €134,838 | +€18,790 | +16.2% |
| Amounts receivable within one year | 40/41 | €91,740 | €140,281 | +€48,541 | +52.9% |
| Trade receivables | 40 | €91,740 | €134,281 | +€42,541 | +46.4% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €206,128 | €108,548 | -€97,580 | -47.3% |
| Deferred charges and accrued income | 490/1 | - | €1,286 | +€1,286 | |
| Total equity and liabilities | 10/49 | €450,858 | €412,209 | -€38,649 | -8.6% |
| Equity | 10/15 | €100,363 | €170,856 | +€70,493 | +70.2% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Distributable reserves | 133 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Profit (loss) carried forward | 14 | €303 | €20,796 | +€20,493 | +6,766% |
| Amounts payable | 17/49 | €350,495 | €241,353 | -€109,141 | -31.1% |
| Amounts payable after more than one year | 17 | €194,777 | €165,467 | -€29,310 | -15.0% |
| Financial debts | 170/4 | €194,777 | €165,467 | -€29,310 | -15.0% |
| Amounts payable within one year | 42/48 | €155,718 | €75,533 | -€80,185 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €28,163 | €29,310 | +€1,147 | +4.1% |
| Trade debts | 44 | €50,747 | €4,244 | -€46,503 | -91.6% |
| Suppliers | 440/4 | €50,747 | €4,244 | -€46,503 | -91.6% |
| Taxes, remuneration and social security | 45 | €68,228 | €37,172 | -€31,056 | -45.5% |
| Taxes | 450/3 | €68,228 | €37,172 | -€31,056 | -45.5% |
| Other amounts payable | 47/48 | €8,580 | €4,807 | -€3,773 | -44.0% |
| Accrued charges and deferred income | 492/3 | - | €354 | +€354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,399 | €9,686 | -€713 | -6.9% |
| Other operating charges | 640/8 | €296 | €546 | +€250 | +84.4% |
| Gross operating margin | 9900 | €148,595 | €109,923 | -€38,672 | -26.0% |
| Operating profit (loss) | 9901 | €137,900 | €99,691 | -€38,209 | -27.7% |
| Financial income | 75/76B | €477 | €560 | +€83 | +17.4% |
| Recurring financial income | 75 | €477 | €560 | +€83 | +17.4% |
| Financial charges | 65/66B | €9,822 | €8,914 | -€909 | -9.3% |
| Recurring financial charges | 65 | €9,822 | €8,914 | -€909 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €128,554 | €91,337 | -€37,217 | -29.0% |
| Income taxes | 67/77 | €26,533 | €19,178 | -€7,355 | -27.7% |
| Profit (loss) for the period | 9904 | €102,021 | €72,159 | -€29,862 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,021 | €72,159 | -€29,862 | -29.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.