KMN: what changed
Two fiscal 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.
KMN
Largest movements
- Current investments +€301,650
new in 2025: €301,650
- Receivables within one year -€139,122
down €139,122 (-83.1%), from €167,500 to €28,378
of which Trade receivables: -€140,378
- Cash +€53,522
up €53,522 (+388.0%), from €13,793 to €67,315
mainly Net result for the year (+€192,790) and Receivables within one year (+€139,122)
- Tangible fixed assets -€10,918
down €10,918 (-7.1%), from €152,846 to €141,928
- Reserves +€166,327
up €166,327 (+43.5%), from €382,132 to €548,459
- Current portion of long-term debt +€29,577
up €29,577 (+233.9%), from €12,644 to €42,221
- Other debts +€21,801
up €21,801 (+120.9%), from €18,030 to €39,831
- Debts after one year -€12,848
down €12,848 (-11.0%), from €117,275 to €104,426
- Gross operating margin +€128,065
up €128,065 (+76.2%), from €168,078 to €296,143
- Taxes +€39,903
up €39,903 (+84.2%), from €47,390 to €87,293
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 | €593,265 | €799,003 | +€205,738 | +34.7% |
| Fixed assets | 21/28 | €185,346 | €175,428 | -€9,918 | -5.4% |
| Tangible fixed assets | 22/27 | €152,846 | €141,928 | -€10,918 | -7.1% |
| Land and buildings | 22 | €152,846 | €141,928 | -€10,918 | -7.1% |
| Financial fixed assets | 28 | €32,500 | €33,500 | +€1,000 | +3.1% |
| Current assets | 29/58 | €407,919 | €623,575 | +€215,656 | +52.9% |
| Amounts receivable after more than one year | 29 | €226,000 | €226,000 | = | 0.0% |
| Other amounts receivable | 291 | €226,000 | €226,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €167,500 | €28,378 | -€139,122 | -83.1% |
| Trade receivables | 40 | €167,500 | €27,122 | -€140,378 | -83.8% |
| Other amounts receivable | 41 | - | €1,256 | +€1,256 | |
| Current investments | 50/53 | - | €301,650 | +€301,650 | |
| Cash at bank and in hand | 54/58 | €13,793 | €67,315 | +€53,522 | +388.0% |
| Deferred charges and accrued income | 490/1 | €626 | €231 | -€395 | -63.1% |
| Total equity and liabilities | 10/49 | €593,265 | €799,003 | +€205,738 | +34.7% |
| Equity | 10/15 | €394,532 | €560,859 | +€166,327 | +42.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €382,132 | €548,459 | +€166,327 | +43.5% |
| Distributable reserves | 133 | €382,132 | €548,459 | +€166,327 | +43.5% |
| Amounts payable | 17/49 | €198,733 | €238,144 | +€39,411 | +19.8% |
| Amounts payable after more than one year | 17 | €117,275 | €104,426 | -€12,848 | -11.0% |
| Financial debts | 170/4 | €117,275 | €104,426 | -€12,848 | -11.0% |
| Amounts payable within one year | 42/48 | €81,458 | €133,718 | +€52,260 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €12,644 | €42,221 | +€29,577 | +233.9% |
| Trade debts | 44 | €2,629 | €7,293 | +€4,664 | +177.4% |
| Suppliers | 440/4 | €2,629 | €7,293 | +€4,664 | +177.4% |
| Taxes, remuneration and social security | 45 | €48,154 | €44,372 | -€3,782 | -7.9% |
| Taxes | 450/3 | €48,154 | €40,833 | -€7,321 | -15.2% |
| Remuneration and social security | 454/9 | - | €3,539 | +€3,539 | |
| Other amounts payable | 47/48 | €18,030 | €39,831 | +€21,801 | +120.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,918 | €10,918 | = | 0.0% |
| Other operating charges | 640/8 | €1,832 | €2,228 | +€395 | +21.6% |
| Gross operating margin | 9900 | €168,078 | €296,143 | +€128,065 | +76.2% |
| Operating profit (loss) | 9901 | €155,328 | €282,998 | +€127,670 | +82.2% |
| Financial income | 75/76B | €3,254 | €3,258 | +€3 | +0.1% |
| Recurring financial income | 75 | €3,254 | €3,258 | +€3 | +0.1% |
| Financial charges | 65/66B | €9,125 | €6,173 | -€2,952 | -32.4% |
| Recurring financial charges | 65 | €9,125 | €6,173 | -€2,952 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €149,457 | €280,083 | +€130,625 | +87.4% |
| Income taxes | 67/77 | €47,390 | €87,293 | +€39,903 | +84.2% |
| Profit (loss) for the period | 9904 | €102,067 | €192,790 | +€90,723 | +88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €102,067 | €192,790 | +€90,723 | +88.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.