KMO-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.
KMO-INVEST
Largest movements
- Stocks and contracts -€3.4m
down €3.4m (-62.1%), from €5.5m to €2.1m
of which Contracts in progress: -€1.8m
- Receivables within one year +€1.8m
up €1.8m (+96,828%), from €1,900 to €1.8m
of which Other amounts receivable: +€1.8m
- Cash +€369,805
up €369,805 (+70.3%), from €526,103 to €895,908
mainly Stocks and contracts (+€3.4m) and Net result for the year (+€1.1m)
- Reserves +€541,500
up €541,500 (+38.2%), from €1.4m to €2.0m
- Short-term financial debts -€537,008
down €537,008 (-43.4%), from €1.2m to €700,000
- Advances received -€475,083
no longer reported in 2025 (was €475,083)
- Trade debts -€447,817
down €447,817 (-32.4%), from €1.4m to €934,737
- Tax, wage and social debts -€354,935
down €354,935 (-91.3%), from €388,835 to €33,900
- Financial charges -€209,604
down €209,604 (-89.6%), from €233,904 to €24,301
- Gross operating margin +€55,193
up €55,193 (+4.5%), from €1.2m to €1.3m
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 | €6,036,353 | €4,835,626 | -€1.2m | -19.9% |
| Fixed assets | 21/28 | €20,947 | €16,697 | -€4,250 | -20.3% |
| Tangible fixed assets | 22/27 | €20,947 | €16,697 | -€4,250 | -20.3% |
| Furniture and vehicles | 24 | €20,947 | €16,697 | -€4,250 | -20.3% |
| Current assets | 29/58 | €6,015,406 | €4,818,929 | -€1.2m | -19.9% |
| Stocks and contracts in progress | 3 | €5,487,403 | €2,080,572 | -€3.4m | -62.1% |
| Stocks | 30/36 | €2,031,659 | €457,708 | -€1.6m | -77.5% |
| Contracts in progress | 37 | €3,455,744 | €1,622,864 | -€1.8m | -53.0% |
| Amounts receivable within one year | 40/41 | €1,900 | €1,841,639 | +€1.8m | +96,828% |
| Trade receivables | 40 | - | €6,804 | +€6,804 | |
| Other amounts receivable | 41 | €1,900 | €1,834,835 | +€1.8m | +96,470% |
| Cash at bank and in hand | 54/58 | €526,103 | €895,908 | +€369,805 | +70.3% |
| Deferred charges and accrued income | 490/1 | - | €811 | +€811 | |
| Total equity and liabilities | 10/49 | €6,036,353 | €4,835,626 | -€1.2m | -19.9% |
| Equity | 10/15 | €1,441,047 | €1,982,646 | +€541,599 | +37.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €1,419,000 | €1,960,500 | +€541,500 | +38.2% |
| Distributable reserves | 133 | €1,419,000 | €1,960,500 | +€541,500 | +38.2% |
| Profit (loss) carried forward | 14 | €47 | €146 | +€99 | +211% |
| Amounts payable | 17/49 | €4,595,306 | €2,852,980 | -€1.7m | -37.9% |
| Amounts payable within one year | 42/48 | €4,578,428 | €2,843,004 | -€1.7m | -37.9% |
| Financial debts | 43 | €1,237,008 | €700,000 | -€537,008 | -43.4% |
| Credit institutions | 430/8 | €1,237,008 | €700,000 | -€537,008 | -43.4% |
| Trade debts | 44 | €1,382,554 | €934,737 | -€447,817 | -32.4% |
| Suppliers | 440/4 | €1,382,554 | €934,737 | -€447,817 | -32.4% |
| Advances received on contracts in progress | 46 | €475,083 | - | -€475,083 | |
| Taxes, remuneration and social security | 45 | €388,835 | €33,900 | -€354,935 | -91.3% |
| Taxes | 450/3 | €388,835 | €33,900 | -€354,935 | -91.3% |
| Other amounts payable | 47/48 | €1,094,948 | €1,174,367 | +€79,419 | +7.3% |
| Accrued charges and deferred income | 492/3 | €16,878 | €9,976 | -€6,902 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €4,250 | +€3,947 | +1,304% |
| Other operating charges | 640/8 | €1,330 | €1,393 | +€64 | +4.8% |
| Gross operating margin | 9900 | €1,229,342 | €1,284,535 | +€55,193 | +4.5% |
| Operating profit (loss) | 9901 | €1,227,709 | €1,278,892 | +€51,182 | +4.2% |
| Financial income | 75/76B | €10 | €10,837 | +€10,827 | +107,303% |
| Recurring financial income | 75 | €10 | €10,837 | +€10,827 | +107,303% |
| Financial charges | 65/66B | €233,904 | €24,301 | -€209,604 | -89.6% |
| Recurring financial charges | 65 | €233,904 | €24,301 | -€209,604 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €993,815 | €1,265,428 | +€271,613 | +27.3% |
| Income taxes | 67/77 | €173,068 | €183,829 | +€10,761 | +6.2% |
| Profit (loss) for the period | 9904 | €820,747 | €1,081,599 | +€260,852 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €820,747 | €1,081,599 | +€260,852 | +31.8% |
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 1 November 2026 via checked.be.