KMA 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.
KMA Invest
Largest movements
- Tangible fixed assets -€59,564
down €59,564 (-2.3%), from €2.6m to €2.6m
of which Land and buildings: -€57,164
- Deferred charges and accrued income +€42,000
new in 2025: €42,000
- Cash +€37,688
up €37,688 (+358%), from €10,527 to €48,215
mainly Depreciation (+€62,714) and Trade debts (+€33,178)
- Trade debts +€33,178
up €33,178 (+8,566%), from €387 to €33,566
- Profit (loss) carried forward +€32,870
up €32,870 (+57.9%), from -€56,742 to -€23,872
- Other debts -€30,924
down €30,924 (-3.9%), from €790,438 to €759,514
- Gross operating margin +€57,701
up €57,701 (+107%), from €54,114 to €111,815
- Depreciation -€32,970
down €32,970 (-34.5%), from €95,684 to €62,714
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 | €2,669,353 | €2,704,478 | +€35,124 | +1.3% |
| Fixed assets | 21/28 | €2,638,827 | €2,579,262 | -€59,564 | -2.3% |
| Tangible fixed assets | 22/27 | €2,638,827 | €2,579,262 | -€59,564 | -2.3% |
| Land and buildings | 22 | €2,628,201 | €2,571,037 | -€57,164 | -2.2% |
| Furniture and vehicles | 24 | €10,626 | €8,226 | -€2,400 | -22.6% |
| Current assets | 29/58 | €30,527 | €125,215 | +€94,688 | +310% |
| Amounts receivable within one year | 40/41 | €20,000 | €35,000 | +€15,000 | +75.0% |
| Trade receivables | 40 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 41 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,527 | €48,215 | +€37,688 | +358% |
| Deferred charges and accrued income | 490/1 | - | €42,000 | +€42,000 | |
| Total equity and liabilities | 10/49 | €2,669,353 | €2,704,478 | +€35,124 | +1.3% |
| Equity | 10/15 | €1,780,788 | €1,813,658 | +€32,870 | +1.8% |
| Contributions | 10/11 | €1,340,000 | €1,340,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,340,000 | €1,340,000 | = | 0.0% |
| Other | 1109/19 | €1,340,000 | €1,340,000 | = | 0.0% |
| Reserves | 13 | €497,529 | €497,529 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €198,442 | €198,442 | = | 0.0% |
| Distributable reserves | 133 | €286,588 | €286,588 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,742 | -€23,872 | +€32,870 | +57.9% |
| Provisions and deferred taxes | 16 | €97,740 | €97,740 | = | 0.0% |
| Deferred taxes | 168 | €97,740 | €97,740 | = | 0.0% |
| Amounts payable | 17/49 | €790,826 | €793,080 | +€2,254 | +0.3% |
| Amounts payable within one year | 42/48 | €790,826 | €793,080 | +€2,254 | +0.3% |
| Trade debts | 44 | €387 | €33,566 | +€33,178 | +8,566% |
| Suppliers | 440/4 | €387 | €33,566 | +€33,178 | +8,566% |
| Other amounts payable | 47/48 | €790,438 | €759,514 | -€30,924 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,684 | €62,714 | -€32,970 | -34.5% |
| Other operating charges | 640/8 | €14,988 | €16,040 | +€1,052 | +7.0% |
| Gross operating margin | 9900 | €54,114 | €111,815 | +€57,701 | +107% |
| Operating profit (loss) | 9901 | -€56,558 | €33,061 | +€89,620 | |
| Financial charges | 65/66B | €183 | €191 | +€8 | +4.5% |
| Recurring financial charges | 65 | €183 | €191 | +€8 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | -€56,742 | €32,870 | +€89,611 | |
| Profit (loss) for the period | 9904 | -€56,742 | €32,870 | +€89,611 | |
| Profit (loss) for the period to be appropriated | 9905 | -€56,742 | €32,870 | +€89,611 |
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.