KMG MANAGEMENT: 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.
KMG MANAGEMENT
Largest movements
- Cash +€135,665
up €135,665 (+231.7%), from €58,545 to €194,210
mainly Net result for the year (+€181,977) and Depreciation (+€13,242)
- Tangible fixed assets -€13,242
down €13,242 (-29.5%), from €44,839 to €31,597
- Reserves +€181,977
up €181,977 (+30.2%), from €601,881 to €783,858
of which Distributable reserves: +€181,977
- Other debts -€53,898
down €53,898 (-46.7%), from €115,393 to €61,496
- Gross operating margin +€137,393
up €137,393 (+186.3%), from €73,744 to €211,138
- Financial income +€14,105
up €14,105 (+817.6%), from €1,725 to €15,830
- Taxes +€10,480
up €10,480 (+51.6%), from €20,306 to €30,786
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.
Cash bridge derived
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 | €761,513 | €893,499 | +€131,986 | +17.3% |
| Fixed assets | 21/28 | €47,839 | €32,597 | -€15,242 | -31.9% |
| Tangible fixed assets | 22/27 | €44,839 | €31,597 | -€13,242 | -29.5% |
| Furniture and vehicles | 24 | €44,839 | €31,597 | -€13,242 | -29.5% |
| Financial fixed assets | 28 | €3,000 | €1,000 | -€2,000 | -66.7% |
| Current assets | 29/58 | €713,674 | €860,902 | +€147,227 | +20.6% |
| Amounts receivable after more than one year | 29 | €276,544 | €276,544 | = | 0.0% |
| Other amounts receivable | 291 | €276,544 | €276,544 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,659 | €19,163 | +€7,505 | +64.4% |
| Trade receivables | 40 | €11,459 | €9,075 | -€2,384 | -20.8% |
| Other amounts receivable | 41 | €200 | €10,088 | +€9,888 | +4946.7% |
| Current investments | 50/53 | €364,844 | €368,919 | +€4,075 | +1.1% |
| Cash at bank and in hand | 54/58 | €58,545 | €194,210 | +€135,665 | +231.7% |
| Deferred charges and accrued income | 490/1 | €2,083 | €2,066 | -€17 | -0.8% |
| Total equity and liabilities | 10/49 | €761,513 | €893,499 | +€131,986 | +17.3% |
| Equity | 10/15 | €620,481 | €802,458 | +€181,977 | +29.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €601,881 | €783,858 | +€181,977 | +30.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €600,021 | €781,998 | +€181,977 | +30.3% |
| Amounts payable | 17/49 | €141,032 | €91,041 | -€49,991 | -35.4% |
| Amounts payable within one year | 42/48 | €141,032 | €91,041 | -€49,991 | -35.4% |
| Financial debts | 43 | €5,885 | €5,867 | -€18 | -0.3% |
| Credit institutions | 430/8 | €5,885 | €5,867 | -€18 | -0.3% |
| Trade debts | 44 | €3,057 | €475 | -€2,581 | -84.4% |
| Suppliers | 440/4 | €3,057 | €475 | -€2,581 | -84.4% |
| Taxes, remuneration and social security | 45 | €16,697 | €23,203 | +€6,505 | +39.0% |
| Taxes | 450/3 | €16,697 | €23,203 | +€6,505 | +39.0% |
| Other amounts payable | 47/48 | €115,393 | €61,496 | -€53,898 | -46.7% |
| Remuneration, social security and pensions | 62 | €939 | - | -€939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,242 | €13,242 | = | 0.0% |
| Other operating charges | 640/8 | €1,013 | €634 | -€380 | -37.5% |
| Gross operating margin | 9900 | €73,744 | €211,138 | +€137,393 | +186.3% |
| Operating profit (loss) | 9901 | €58,550 | €197,262 | +€138,712 | +236.9% |
| Financial income | 75/76B | €1,725 | €15,830 | +€14,105 | +817.6% |
| Recurring financial income | 75 | €1,725 | €15,830 | +€14,105 | +817.6% |
| Financial charges | 65/66B | €479 | €329 | -€150 | -31.3% |
| Recurring financial charges | 65 | €479 | €329 | -€150 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €59,796 | €212,763 | +€152,967 | +255.8% |
| Income taxes | 67/77 | €20,306 | €30,786 | +€10,480 | +51.6% |
| Profit (loss) for the period | 9904 | €39,490 | €181,977 | +€142,487 | +360.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,490 | €181,977 | +€142,487 | +360.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.