KM INVEST: 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 INVEST
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+1,661%), from €70,758 to €1.2m
of which Land and buildings: +€1.2m
- Receivables within one year -€25,790
down €25,790 (-52.3%), from €49,295 to €23,506
of which Trade receivables: -€37,587
- Debts after one year +€715,374
up €715,374 (+164%), from €435,500 to €1.2m
- Trade debts +€402,571
up €402,571 (+8,782%), from €4,584 to €407,155
- Reserves +€33,103
up €33,103 (+8.5%), from €388,796 to €421,899
- Tax, wage and social debts -€24,910
down €24,910 (-51.6%), from €48,267 to €23,357
- Depreciation +€84,220
up €84,220 (+417%), from €20,177 to €104,397
- Gross operating margin -€50,793
down €50,793 (-24.1%), from €210,481 to €159,688
- Taxes -€36,317
down €36,317 (-99.0%), from €36,674 to €357
- Financial income -€24,323
down €24,323 (-96.1%), from €25,316 to €992
- Financial charges -€5,148
down €5,148 (-21.2%), from €24,302 to €19,155
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 | €1,061,066 | €2,200,942 | +€1.1m | +107% |
| Fixed assets | 21/28 | €970,758 | €2,146,183 | +€1.2m | +121% |
| Tangible fixed assets | 22/27 | €70,758 | €1,246,183 | +€1.2m | +1,661% |
| Land and buildings | 22 | - | €1,200,838 | +€1.2m | |
| Plant, machinery and equipment | 23 | €529 | €193 | -€336 | -63.5% |
| Furniture and vehicles | 24 | €70,229 | €45,152 | -€25,077 | -35.7% |
| Financial fixed assets | 28 | €900,000 | €900,000 | = | 0.0% |
| Current assets | 29/58 | €90,308 | €54,759 | -€35,550 | -39.4% |
| Amounts receivable within one year | 40/41 | €49,295 | €23,506 | -€25,790 | -52.3% |
| Trade receivables | 40 | €37,628 | €41 | -€37,587 | -99.9% |
| Other amounts receivable | 41 | €11,667 | €23,464 | +€11,797 | +101% |
| Cash at bank and in hand | 54/58 | €40,156 | €29,007 | -€11,149 | -27.8% |
| Deferred charges and accrued income | 490/1 | €857 | €2,246 | +€1,389 | +162% |
| Total equity and liabilities | 10/49 | €1,061,066 | €2,200,942 | +€1.1m | +107% |
| Equity | 10/15 | €463,796 | €496,899 | +€33,103 | +7.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €388,796 | €421,899 | +€33,103 | +8.5% |
| Distributable reserves | 133 | €388,796 | €421,899 | +€33,103 | +8.5% |
| Amounts payable | 17/49 | €597,270 | €1,704,043 | +€1.1m | +185% |
| Amounts payable after more than one year | 17 | €435,500 | €1,150,874 | +€715,374 | +164% |
| Financial debts | 170/4 | €435,500 | €1,150,874 | +€715,374 | +164% |
| Amounts payable within one year | 42/48 | €156,517 | €551,787 | +€395,269 | +253% |
| Current portion of amounts payable after more than one year | 42 | €102,000 | €119,608 | +€17,608 | +17.3% |
| Trade debts | 44 | €4,584 | €407,155 | +€402,571 | +8,782% |
| Suppliers | 440/4 | €4,584 | €407,155 | +€402,571 | +8,782% |
| Taxes, remuneration and social security | 45 | €48,267 | €23,357 | -€24,910 | -51.6% |
| Taxes | 450/3 | €48,267 | €23,357 | -€24,910 | -51.6% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,253 | €1,382 | -€3,871 | -73.7% |
| Non-recurring operating income | 76A | - | €3,368 | +€3,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,177 | €104,397 | +€84,220 | +417% |
| Other operating charges | 640/8 | €1,344 | €2,003 | +€659 | +49.0% |
| Gross operating margin | 9900 | €210,481 | €159,688 | -€50,793 | -24.1% |
| Operating profit (loss) | 9901 | €188,959 | €53,288 | -€135,671 | -71.8% |
| Financial income | 75/76B | €25,316 | €992 | -€24,323 | -96.1% |
| Recurring financial income | 75 | €25,316 | €992 | -€24,323 | -96.1% |
| Financial charges | 65/66B | €24,302 | €19,155 | -€5,148 | -21.2% |
| Recurring financial charges | 65 | €24,302 | €19,155 | -€5,148 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €189,973 | €35,126 | -€154,847 | -81.5% |
| Income taxes | 67/77 | €36,674 | €357 | -€36,317 | -99.0% |
| Profit (loss) for the period | 9904 | €153,299 | €34,769 | -€118,530 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €153,299 | €34,769 | -€118,530 | -77.3% |
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 23 October 2026 via checked.be.