KMR: 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.
KMR
Largest movements
- Cash +€34,176
up €34,176 (+72.7%), from €46,980 to €81,156
mainly Debts after one year (+€26,190) and Net result for the year (+€24,411)
- Tangible fixed assets +€33,272
up €33,272 (+8,375%), from €397 to €33,669
of which Furniture and vehicles: +€32,420
- Receivables within one year -€8,033
down €8,033 (-35.4%), from €22,714 to €14,682
of which Other amounts receivable: -€4,259
- Debts after one year +€26,190
new in 2025: €26,190
- Reserves +€24,411
up €24,411 (+42.6%), from €57,276 to €81,687
- Current portion of long-term debt +€7,211
new in 2025: €7,211
- Tax, wage and social debts +€3,309
up €3,309 (+126%), from €2,629 to €5,938
- Gross operating margin +€24,285
up €24,285 (+166%), from €14,634 to €38,919
- Depreciation +€4,124
up €4,124 (+492%), from €838 to €4,961
- Taxes +€3,319
up €3,319 (+127%), from €2,618 to €5,938
- Financial charges +€2,164
up €2,164 (+150%), from €1,439 to €3,603
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 | €72,251 | €132,054 | +€59,803 | +82.8% |
| Fixed assets | 21/28 | €944 | €33,669 | +€32,725 | +3,465% |
| Intangible fixed assets | 21 | €547 | - | -€547 | |
| Tangible fixed assets | 22/27 | €397 | €33,669 | +€33,272 | +8,375% |
| Plant, machinery and equipment | 23 | €397 | €1,249 | +€851 | +214% |
| Furniture and vehicles | 24 | - | €32,420 | +€32,420 | |
| Current assets | 29/58 | €71,307 | €98,385 | +€27,078 | +38.0% |
| Amounts receivable within one year | 40/41 | €22,714 | €14,682 | -€8,033 | -35.4% |
| Trade receivables | 40 | €12,909 | €9,136 | -€3,774 | -29.2% |
| Other amounts receivable | 41 | €9,805 | €5,546 | -€4,259 | -43.4% |
| Cash at bank and in hand | 54/58 | €46,980 | €81,156 | +€34,176 | +72.7% |
| Deferred charges and accrued income | 490/1 | €1,613 | €2,547 | +€935 | +58.0% |
| Total equity and liabilities | 10/49 | €72,251 | €132,054 | +€59,803 | +82.8% |
| Equity | 10/15 | €67,276 | €91,687 | +€24,411 | +36.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €57,276 | €81,687 | +€24,411 | +42.6% |
| Distributable reserves | 133 | €57,276 | €81,687 | +€24,411 | +42.6% |
| Amounts payable | 17/49 | €4,975 | €40,367 | +€35,392 | +711% |
| Amounts payable after more than one year | 17 | - | €26,190 | +€26,190 | |
| Financial debts | 170/4 | - | €26,190 | +€26,190 | |
| Amounts payable within one year | 42/48 | €4,975 | €14,178 | +€9,202 | +185% |
| Current portion of amounts payable after more than one year | 42 | - | €7,211 | +€7,211 | |
| Trade debts | 44 | €2,347 | €1,029 | -€1,318 | -56.2% |
| Suppliers | 440/4 | €2,347 | €1,029 | -€1,318 | -56.2% |
| Taxes, remuneration and social security | 45 | €2,629 | €5,938 | +€3,309 | +126% |
| Taxes | 450/3 | €2,629 | €5,938 | +€3,309 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €838 | €4,961 | +€4,124 | +492% |
| Other operating charges | 640/8 | €795 | €1,020 | +€225 | +28.2% |
| Gross operating margin | 9900 | €14,634 | €38,919 | +€24,285 | +166% |
| Operating profit (loss) | 9901 | €13,001 | €32,937 | +€19,937 | +153% |
| Financial income | 75/76B | €637 | €1,014 | +€377 | +59.1% |
| Recurring financial income | 75 | €637 | €1,014 | +€377 | +59.1% |
| Financial charges | 65/66B | €1,439 | €3,603 | +€2,164 | +150% |
| Recurring financial charges | 65 | €1,439 | €3,603 | +€2,164 | +150% |
| Profit (loss) for the period before taxes | 9903 | €12,199 | €30,348 | +€18,149 | +149% |
| Income taxes | 67/77 | €2,618 | €5,938 | +€3,319 | +127% |
| Profit (loss) for the period | 9904 | €9,581 | €24,411 | +€14,830 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €9,581 | €24,411 | +€14,830 | +155% |
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 24 October 2026 via checked.be.