KMR: 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.
KMR
Largest movements
- Tangible fixed assets -€9,255
down €9,255 (-3.0%), from €307,416 to €298,161
of which Land and buildings: -€8,795
- Receivables within one year +€6,993
up €6,993 (+8.4%), from €83,434 to €90,427
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€2,222
down €2,222 (-12.6%), from €17,590 to €15,368
- Taxes -€657
down €657 (-31.1%), from €2,113 to €1,456
- Depreciation -€213
down €213 (-1.5%), from €13,813 to €13,600
- Financial charges -€211
down €211 (-4.5%), from €4,671 to €4,460
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 | €464,144 | €456,667 | -€7,477 | -1.6% |
| Fixed assets | 21/28 | €307,416 | €298,161 | -€9,255 | -3.0% |
| Tangible fixed assets | 22/27 | €307,416 | €298,161 | -€9,255 | -3.0% |
| Land and buildings | 22 | €304,214 | €295,419 | -€8,795 | -2.9% |
| Plant, machinery and equipment | 23 | €3,202 | €2,742 | -€460 | -14.4% |
| Current assets | 29/58 | €156,728 | €158,506 | +€1,778 | +1.1% |
| Amounts receivable within one year | 40/41 | €83,434 | €90,427 | +€6,993 | +8.4% |
| Other amounts receivable | 41 | €83,434 | €90,427 | +€6,993 | +8.4% |
| Current investments | 50/53 | €52,206 | €52,689 | +€483 | +0.9% |
| Cash at bank and in hand | 54/58 | €9,232 | €7,913 | -€1,319 | -14.3% |
| Deferred charges and accrued income | 490/1 | €11,856 | €7,477 | -€4,379 | -36.9% |
| Total equity and liabilities | 10/49 | €464,144 | €456,667 | -€7,477 | -1.6% |
| Equity | 10/15 | €344,665 | €343,659 | -€1,006 | -0.3% |
| Contributions | 10/11 | €47,772 | €47,772 | = | 0.0% |
| Revaluation surpluses | 12 | €101,534 | €98,067 | -€3,467 | -3.4% |
| Reserves | 13 | €199,208 | €202,675 | +€3,467 | +1.7% |
| Non-distributable reserves | 130/1 | €4,777 | €4,777 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,777 | €4,777 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,037 | €21,037 | = | 0.0% |
| Distributable reserves | 133 | €173,394 | €176,861 | +€3,467 | +2.0% |
| Profit (loss) carried forward | 14 | -€3,849 | -€4,855 | -€1,006 | -26.1% |
| Amounts payable | 17/49 | €119,479 | €113,008 | -€6,471 | -5.4% |
| Amounts payable after more than one year | 17 | €111,437 | €106,851 | -€4,586 | -4.1% |
| Financial debts | 170/4 | €111,437 | €106,851 | -€4,586 | -4.1% |
| Amounts payable within one year | 42/48 | €6,605 | €5,116 | -€1,489 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €4,413 | €4,585 | +€172 | +3.9% |
| Trade debts | 44 | €195 | €531 | +€336 | +172.3% |
| Suppliers | 440/4 | €195 | €531 | +€336 | +172.3% |
| Taxes, remuneration and social security | 45 | €1,997 | - | -€1,997 | |
| Taxes | 450/3 | €1,997 | - | -€1,997 | |
| Accrued charges and deferred income | 492/3 | €1,437 | €1,041 | -€396 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,813 | €13,600 | -€213 | -1.5% |
| Other operating charges | 640/8 | €2,151 | €2,219 | +€68 | +3.2% |
| Gross operating margin | 9900 | €17,590 | €15,368 | -€2,222 | -12.6% |
| Operating profit (loss) | 9901 | €1,626 | -€451 | -€2,077 | |
| Financial income | 75/76B | €5,426 | €5,361 | -€65 | -1.2% |
| Recurring financial income | 75 | €5,426 | €5,361 | -€65 | -1.2% |
| Financial charges | 65/66B | €4,671 | €4,460 | -€211 | -4.5% |
| Recurring financial charges | 65 | €4,671 | €4,460 | -€211 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €2,381 | €450 | -€1,931 | -81.1% |
| Income taxes | 67/77 | €2,113 | €1,456 | -€657 | -31.1% |
| Profit (loss) for the period | 9904 | €268 | -€1,006 | -€1,274 | |
| Transfer from tax-exempt reserves | 789 | €3,466 | €3,466 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,734 | €2,460 | -€1,274 | -34.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.