KM LAW: 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 LAW
Largest movements
- Cash -€284,394
down €284,394 (-68.7%), from €413,752 to €129,358
mainly Contributions, distributions and other (-€211,785) and Other debts (-€169,161)
- Receivables within one year -€16,268
down €16,268 (-12.8%), from €126,870 to €110,602
- Tangible fixed assets +€14,305
up €14,305 (+55.0%), from €26,032 to €40,337
of which Other tangible fixed assets: +€15,306
- Profit (loss) carried forward -€211,785
no longer reported in 2025 (was €211,785)
- Other debts -€169,161
down €169,161 (-71.9%), from €235,294 to €66,133
- Reserves +€127,662
new in 2025: €127,662
- Trade debts -€25,051
down €25,051 (-61.2%), from €40,938 to €15,886
- Tax, wage and social debts -€8,023
down €8,023 (-10.7%), from €74,874 to €66,851
- Gross operating margin -€43,879
down €43,879 (-18.6%), from €236,360 to €192,481
- Taxes +€4,964
up €4,964 (+9.3%), from €53,120 to €58,084
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 | €566,891 | €280,533 | -€286,357 | -50.5% |
| Fixed assets | 21/28 | €26,032 | €40,337 | +€14,305 | +55.0% |
| Tangible fixed assets | 22/27 | €26,032 | €40,337 | +€14,305 | +55.0% |
| Furniture and vehicles | 24 | €5,898 | €4,897 | -€1,001 | -17.0% |
| Other tangible fixed assets | 26 | €20,134 | €35,439 | +€15,306 | +76.0% |
| Current assets | 29/58 | €540,859 | €240,197 | -€300,662 | -55.6% |
| Amounts receivable within one year | 40/41 | €126,870 | €110,602 | -€16,268 | -12.8% |
| Trade receivables | 40 | €126,870 | €110,602 | -€16,268 | -12.8% |
| Cash at bank and in hand | 54/58 | €413,752 | €129,358 | -€284,394 | -68.7% |
| Deferred charges and accrued income | 490/1 | €237 | €237 | = | 0.0% |
| Total equity and liabilities | 10/49 | €566,891 | €280,533 | -€286,357 | -50.5% |
| Equity | 10/15 | €215,785 | €131,662 | -€84,122 | -39.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €127,662 | +€127,662 | |
| Distributable reserves | 133 | - | €127,662 | +€127,662 | |
| Profit (loss) carried forward | 14 | €211,785 | - | -€211,785 | |
| Amounts payable | 17/49 | €351,106 | €148,871 | -€202,235 | -57.6% |
| Amounts payable within one year | 42/48 | €351,106 | €148,871 | -€202,235 | -57.6% |
| Trade debts | 44 | €40,938 | €15,886 | -€25,051 | -61.2% |
| Suppliers | 440/4 | €40,938 | €15,886 | -€25,051 | -61.2% |
| Taxes, remuneration and social security | 45 | €74,874 | €66,851 | -€8,023 | -10.7% |
| Taxes | 450/3 | €74,874 | €66,851 | -€8,023 | -10.7% |
| Other amounts payable | 47/48 | €235,294 | €66,133 | -€169,161 | -71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,511 | €6,187 | +€1,676 | +37.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €236,360 | €192,481 | -€43,879 | -18.6% |
| Operating profit (loss) | 9901 | €231,462 | €185,894 | -€45,567 | -19.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.9% |
| Financial charges | 65/66B | €56 | €148 | +€92 | +166% |
| Recurring financial charges | 65 | €56 | €148 | +€92 | +166% |
| Profit (loss) for the period before taxes | 9903 | €231,407 | €185,746 | -€45,661 | -19.7% |
| Income taxes | 67/77 | €53,120 | €58,084 | +€4,964 | +9.3% |
| Profit (loss) for the period | 9904 | €178,287 | €127,662 | -€50,625 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €178,287 | €127,662 | -€50,625 | -28.4% |
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.