KMA Belgium: what changed
KMA Belgium
Largest movements
- Receivables within one year +€229,526
up €229,526 (+145%), from €158,457 to €387,983
of which Other amounts receivable: +€134,840
- Cash -€66,124
down €66,124 (-86.4%), from €76,533 to €10,409
mainly Receivables within one year (-€229,526) and Trade debts (-€53,419)
- Deferred charges and accrued income +€7,311
up €7,311 (+200%), from €3,664 to €10,975
- Debts after one year +€91,420
new in 2025: €91,420
- Profit (loss) carried forward +€64,975
up €64,975 (+91.9%), from €70,725 to €135,700
- Trade debts -€53,419
down €53,419 (-39.7%), from €134,425 to €81,006
- Tax, wage and social debts +€27,954
up €27,954 (+420%), from €6,655 to €34,609
of which Remuneration and social security: +€23,793
- Short-term financial debts +€20,500
new in 2025: €20,500
- Gross operating margin +€70,120
up €70,120 (+71.2%), from €98,508 to €168,628
- Staff costs +€59,248
up €59,248 (+180%), from €32,835 to €92,083
- Purchases and services +€29,121
up €29,121 (+7.3%), from €398,528 to €427,649
- Financial income -€14,209
no longer reported in 2025 (was €14,209)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,157 | €432,535 | +€171,378 | +65.6% |
| Fixed assets | 21/28 | €22,504 | €23,169 | +€665 | +3.0% |
| Intangible fixed assets | 21 | €8,500 | €6,800 | -€1,700 | -20.0% |
| Tangible fixed assets | 22/27 | €3,204 | €5,569 | +€2,365 | +73.8% |
| Furniture and vehicles | 24 | €2,204 | €4,769 | +€2,565 | +116% |
| Other tangible fixed assets | 26 | €1,000 | €800 | -€200 | -20.0% |
| Financial fixed assets | 28 | €10,800 | €10,800 | = | 0.0% |
| Current assets | 29/58 | €238,653 | €409,366 | +€170,713 | +71.5% |
| Amounts receivable within one year | 40/41 | €158,457 | €387,983 | +€229,526 | +145% |
| Trade receivables | 40 | €91,678 | €186,364 | +€94,686 | +103% |
| Other amounts receivable | 41 | €66,779 | €201,619 | +€134,840 | +202% |
| Cash at bank and in hand | 54/58 | €76,533 | €10,409 | -€66,124 | -86.4% |
| Deferred charges and accrued income | 490/1 | €3,664 | €10,975 | +€7,311 | +200% |
| Total equity and liabilities | 10/49 | €261,157 | €432,535 | +€171,378 | +65.6% |
| Equity | 10/15 | €95,725 | €160,700 | +€64,975 | +67.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,725 | €135,700 | +€64,975 | +91.9% |
| Amounts payable | 17/49 | €165,432 | €271,835 | +€106,402 | +64.3% |
| Amounts payable after more than one year | 17 | - | €91,420 | +€91,420 | |
| Financial debts | 170/4 | - | €91,420 | +€91,420 | |
| Amounts payable within one year | 42/48 | €165,432 | €180,415 | +€14,982 | +9.1% |
| Financial debts | 43 | - | €20,500 | +€20,500 | |
| Credit institutions | 430/8 | - | €20,500 | +€20,500 | |
| Trade debts | 44 | €134,425 | €81,006 | -€53,419 | -39.7% |
| Suppliers | 440/4 | €134,425 | €81,006 | -€53,419 | -39.7% |
| Advances received on contracts in progress | 46 | €24,352 | €44,300 | +€19,948 | +81.9% |
| Taxes, remuneration and social security | 45 | €6,655 | €34,609 | +€27,954 | +420% |
| Taxes | 450/3 | €388 | €4,549 | +€4,161 | +1,072% |
| Remuneration and social security | 454/9 | €6,267 | €30,060 | +€23,793 | +380% |
| Goods, raw materials, services and sundry goods | 60/61 | €398,528 | €427,649 | +€29,121 | +7.3% |
| Remuneration, social security and pensions | 62 | €32,835 | €92,083 | +€59,248 | +180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,002 | €3,335 | +€333 | +11.1% |
| Other operating charges | 640/8 | €2,881 | €4,335 | +€1,454 | +50.5% |
| Gross operating margin | 9900 | €98,508 | €168,628 | +€70,120 | +71.2% |
| Operating profit (loss) | 9901 | €59,790 | €68,875 | +€9,085 | +15.2% |
| Financial income | 75/76B | €14,209 | - | -€14,209 | |
| Recurring financial income | 75 | €14,209 | - | -€14,209 | |
| Financial charges | 65/66B | €2,456 | €3,900 | +€1,444 | +58.8% |
| Recurring financial charges | 65 | €2,456 | €3,900 | +€1,444 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €71,543 | €64,975 | -€6,568 | -9.2% |
| Income taxes | 67/77 | €1,000 | - | -€1,000 | |
| Profit (loss) for the period | 9904 | €70,543 | €64,975 | -€5,568 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,543 | €64,975 | -€5,568 | -7.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.