KMINVEST: 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.
KMINVEST
Largest movements
- Tangible fixed assets +€327,576
up €327,576 (+146%), from €225,107 to €552,683
of which Land and buildings: +€353,745
- Receivables within one year +€45,269
up €45,269 (+528%), from €8,575 to €53,843
of which Other amounts receivable: +€48,192
- Stocks and contracts +€35,465
up €35,465 (+98.9%), from €35,857 to €71,322
- Cash +€30,706
up €30,706 (+177%), from €17,331 to €48,037
mainly Debts after one year (+€279,008) and Other debts (+€96,339)
- Debts after one year +€279,008
up €279,008 (+372%), from €75,000 to €354,008
- Other debts +€96,339
up €96,339 (+74.3%), from €129,579 to €225,918
- Trade debts +€56,538
up €56,538 (+544%), from €10,384 to €66,922
- Tax, wage and social debts -€14,922
down €14,922 (-90.4%), from €16,514 to €1,592
- Reserves +€13,785
up €13,785 (+53.0%), from €25,987 to €39,772
- Depreciation +€10,791
up €10,791 (+270%), from €4,001 to €14,791
- Gross operating margin +€7,307
up €7,307 (+22.7%), from €32,130 to €39,437
- Financial charges +€6,235
up €6,235 (+173%), from €3,597 to €9,833
- Taxes -€4,076
down €4,076 (-96.0%), from €4,248 to €172
- Other operating charges -€1,490
down €1,490 (-52.2%), from €2,856 to €1,366
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 | €288,424 | €728,744 | +€440,320 | +153% |
| Fixed assets | 21/28 | €225,317 | €552,893 | +€327,576 | +145% |
| Tangible fixed assets | 22/27 | €225,107 | €552,683 | +€327,576 | +146% |
| Land and buildings | 22 | €110,130 | €463,875 | +€353,745 | +321% |
| Furniture and vehicles | 24 | €97,280 | €88,808 | -€8,472 | -8.7% |
| Other tangible fixed assets | 26 | €17,697 | €0 | -€17,697 | -100% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €63,107 | €175,851 | +€112,744 | +179% |
| Stocks and contracts in progress | 3 | €35,857 | €71,322 | +€35,465 | +98.9% |
| Stocks | 30/36 | €35,857 | €71,322 | +€35,465 | +98.9% |
| Amounts receivable within one year | 40/41 | €8,575 | €53,843 | +€45,269 | +528% |
| Trade receivables | 40 | €3,575 | €651 | -€2,923 | -81.8% |
| Other amounts receivable | 41 | €5,000 | €53,192 | +€48,192 | +964% |
| Cash at bank and in hand | 54/58 | €17,331 | €48,037 | +€30,706 | +177% |
| Deferred charges and accrued income | 490/1 | €1,344 | €2,648 | +€1,305 | +97.1% |
| Total equity and liabilities | 10/49 | €288,424 | €728,744 | +€440,320 | +153% |
| Equity | 10/15 | €30,987 | €44,772 | +€13,785 | +44.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,987 | €39,772 | +€13,785 | +53.0% |
| Distributable reserves | 133 | €25,987 | €39,772 | +€13,785 | +53.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €257,437 | €683,972 | +€426,535 | +166% |
| Amounts payable after more than one year | 17 | €75,000 | €354,008 | +€279,008 | +372% |
| Financial debts | 170/4 | €75,000 | €354,008 | +€279,008 | +372% |
| Amounts payable within one year | 42/48 | €181,477 | €328,892 | +€147,415 | +81.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,460 | +€9,460 | |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €10,384 | €66,922 | +€56,538 | +544% |
| Suppliers | 440/4 | €10,384 | €66,922 | +€56,538 | +544% |
| Taxes, remuneration and social security | 45 | €16,514 | €1,592 | -€14,922 | -90.4% |
| Taxes | 450/3 | €16,514 | €1,592 | -€14,922 | -90.4% |
| Other amounts payable | 47/48 | €129,579 | €225,918 | +€96,339 | +74.3% |
| Accrued charges and deferred income | 492/3 | €960 | €1,072 | +€112 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,001 | €14,791 | +€10,791 | +270% |
| Other operating charges | 640/8 | €2,856 | €1,366 | -€1,490 | -52.2% |
| Gross operating margin | 9900 | €32,130 | €39,437 | +€7,307 | +22.7% |
| Operating profit (loss) | 9901 | €25,273 | €23,280 | -€1,994 | -7.9% |
| Financial income | 75/76B | €1,870 | €1,343 | -€527 | -28.2% |
| Recurring financial income | 75 | €1,870 | €1,343 | -€527 | -28.2% |
| Financial charges | 65/66B | €3,597 | €9,833 | +€6,235 | +173% |
| Recurring financial charges | 65 | €3,597 | €9,833 | +€6,235 | +173% |
| Profit (loss) for the period before taxes | 9903 | €23,546 | €14,790 | -€8,756 | -37.2% |
| Income taxes | 67/77 | €4,248 | €172 | -€4,076 | -96.0% |
| Profit (loss) for the period | 9904 | €19,298 | €14,618 | -€4,680 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,298 | €14,618 | -€4,680 | -24.3% |
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 17 October 2026 via checked.be.