KM REALISATIONS: 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 REALISATIONS
Largest movements
- Stocks and contracts -€214,026
down €214,026 (-22.7%), from €944,266 to €730,240
of which Stocks: -€235,000
- Tangible fixed assets -€210,728
down €210,728 (-58.1%), from €362,734 to €152,005
of which Land and buildings: -€207,693
- Receivables within one year +€45,743
up €45,743 (+40.9%), from €111,884 to €157,626
of which Trade receivables: +€52,259
- Cash +€35,056
up €35,056 (+34.5%), from €101,675 to €136,730
mainly Stocks and contracts (+€214,026) and Investment in fixed assets (net) (+€200,392)
- Debts after one year -€224,266
down €224,266 (-66.3%), from €338,176 to €113,909
- Trade debts -€185,234
down €185,234 (-52.7%), from €351,454 to €166,220
- Other debts +€177,311
up €177,311 (+1,989%), from €8,917 to €186,228
- Short-term financial debts -€174,980
down €174,980 (-36.4%), from €480,819 to €305,839
- Tax, wage and social debts +€43,636
up €43,636 (+249%), from €17,515 to €61,151
of which Taxes: +€42,265
- Gross operating margin -€201,228
down €201,228 (-30.2%), from €665,414 to €464,186
- Staff costs -€87,297
down €87,297 (-19.3%), from €453,235 to €365,938
- Other operating charges -€76,676
down €76,676 (-99.9%), from €76,776 to €100
- Depreciation -€16,846
down €16,846 (-62.0%), from €27,182 to €10,336
- Financial charges -€12,867
down €12,867 (-21.0%), from €61,418 to €48,551
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 | €1,650,832 | €1,302,743 | -€348,089 | -21.1% |
| Fixed assets | 21/28 | €364,705 | €153,977 | -€210,728 | -57.8% |
| Tangible fixed assets | 22/27 | €362,734 | €152,005 | -€210,728 | -58.1% |
| Land and buildings | 22 | €349,152 | €141,459 | -€207,693 | -59.5% |
| Plant, machinery and equipment | 23 | €8,574 | €2,937 | -€5,637 | -65.7% |
| Furniture and vehicles | 24 | €5,008 | €7,610 | +€2,602 | +52.0% |
| Financial fixed assets | 28 | €1,972 | €1,972 | = | 0.0% |
| Current assets | 29/58 | €1,286,126 | €1,148,765 | -€137,361 | -10.7% |
| Stocks and contracts in progress | 3 | €944,266 | €730,240 | -€214,026 | -22.7% |
| Stocks | 30/36 | €813,037 | €578,037 | -€235,000 | -28.9% |
| Contracts in progress | 37 | €131,229 | €152,203 | +€20,974 | +16.0% |
| Amounts receivable within one year | 40/41 | €111,884 | €157,626 | +€45,743 | +40.9% |
| Trade receivables | 40 | €81,554 | €133,813 | +€52,259 | +64.1% |
| Other amounts receivable | 41 | €30,330 | €23,814 | -€6,516 | -21.5% |
| Current investments | 50/53 | €120,000 | €120,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €101,675 | €136,730 | +€35,056 | +34.5% |
| Deferred charges and accrued income | 490/1 | €8,302 | €4,169 | -€4,133 | -49.8% |
| Total equity and liabilities | 10/49 | €1,650,832 | €1,302,743 | -€348,089 | -21.1% |
| Equity | 10/15 | €439,087 | €464,483 | +€25,396 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,860 | €121,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €120,000 | €120,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €298,627 | €324,023 | +€25,396 | +8.5% |
| Amounts payable | 17/49 | €1,211,745 | €838,260 | -€373,485 | -30.8% |
| Amounts payable after more than one year | 17 | €338,176 | €113,909 | -€224,266 | -66.3% |
| Financial debts | 170/4 | €338,176 | €113,909 | -€224,266 | -66.3% |
| Amounts payable within one year | 42/48 | €873,552 | €724,350 | -€149,201 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €14,848 | €4,913 | -€9,935 | -66.9% |
| Financial debts | 43 | €480,819 | €305,839 | -€174,980 | -36.4% |
| Credit institutions | 430/8 | €480,819 | €305,839 | -€174,980 | -36.4% |
| Trade debts | 44 | €351,454 | €166,220 | -€185,234 | -52.7% |
| Suppliers | 440/4 | €351,454 | €166,220 | -€185,234 | -52.7% |
| Taxes, remuneration and social security | 45 | €17,515 | €61,151 | +€43,636 | +249% |
| Taxes | 450/3 | €7,951 | €50,217 | +€42,265 | +532% |
| Remuneration and social security | 454/9 | €9,563 | €10,934 | +€1,371 | +14.3% |
| Other amounts payable | 47/48 | €8,917 | €186,228 | +€177,311 | +1,989% |
| Accrued charges and deferred income | 492/3 | €18 | - | -€18 | |
| Remuneration, social security and pensions | 62 | €453,235 | €365,938 | -€87,297 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,182 | €10,336 | -€16,846 | -62.0% |
| Other operating charges | 640/8 | €76,776 | €100 | -€76,676 | -99.9% |
| Non-recurring operating charges | 66A | €440 | €281 | -€159 | -36.2% |
| Gross operating margin | 9900 | €665,414 | €464,186 | -€201,228 | -30.2% |
| Operating profit (loss) | 9901 | €107,780 | €87,531 | -€20,249 | -18.8% |
| Financial charges | 65/66B | €61,418 | €48,551 | -€12,867 | -21.0% |
| Recurring financial charges | 65 | €61,418 | €48,551 | -€12,867 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €46,362 | €38,980 | -€7,382 | -15.9% |
| Income taxes | 67/77 | €15,344 | €13,584 | -€1,760 | -11.5% |
| Profit (loss) for the period | 9904 | €31,018 | €25,396 | -€5,622 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,018 | €25,396 | -€5,622 | -18.1% |
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 24 October 2026 via checked.be.