KQM: 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.
KQM
Largest movements
- Cash +€13,218
up €13,218 (+31.1%), from €42,449 to €55,667
mainly Depreciation (+€9,992) and Receivables within one year (+€5,610)
- Tangible fixed assets -€9,993
down €9,993 (-21.1%), from €47,322 to €37,329
- Receivables within one year -€5,610
down €5,610 (-35.7%), from €15,713 to €10,103
of which Other amounts receivable: -€2,954
- Financial fixed assets -€5,000
down €5,000 (-99.5%), from €5,025 to €25
- Profit (loss) carried forward -€10,100
down €10,100 (-9.7%), from €103,689 to €93,589
- Tax, wage and social debts +€2,638
new in 2026: €2,638
- Depreciation +€8,511
up €8,511 (+574.7%), from €1,481 to €9,992
- Gross operating margin +€3,154
up €3,154, from -€2,875 to €279
- Financial charges -€828
down €828 (-58.9%), from €1,406 to €578
of which Financial charges: -€1,320
- Financial income -€653
down €653 (-65.5%), from €997 to €344
- Other operating charges -€162
no longer reported in 2026 (was €162)
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,509 | €103,123 | -€7,386 | -6.7% |
| Fixed assets | 21/28 | €52,347 | €37,354 | -€14,993 | -28.6% |
| Tangible fixed assets | 22/27 | €47,322 | €37,329 | -€9,993 | -21.1% |
| Furniture and vehicles | 24 | €47,322 | €37,329 | -€9,993 | -21.1% |
| Financial fixed assets | 28 | €5,025 | €25 | -€5,000 | -99.5% |
| Current assets | 29/58 | €58,162 | €65,769 | +€7,607 | +13.1% |
| Amounts receivable within one year | 40/41 | €15,713 | €10,103 | -€5,610 | -35.7% |
| Trade receivables | 40 | €10,309 | €7,652 | -€2,657 | -25.8% |
| Other amounts receivable | 41 | €5,404 | €2,450 | -€2,954 | -54.7% |
| Cash at bank and in hand | 54/58 | €42,449 | €55,667 | +€13,218 | +31.1% |
| Total equity and liabilities | 10/49 | €110,509 | €103,123 | -€7,386 | -6.7% |
| Equity | 10/15 | €110,509 | €100,409 | -€10,100 | -9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,689 | €93,589 | -€10,100 | -9.7% |
| Amounts payable | 17/49 | - | €2,715 | +€2,715 | |
| Amounts payable within one year | 42/48 | - | €2,715 | +€2,715 | |
| Trade debts | 44 | - | €77 | +€77 | |
| Suppliers | 440/4 | - | €77 | +€77 | |
| Taxes, remuneration and social security | 45 | - | €2,638 | +€2,638 | |
| Taxes | 450/3 | - | €2,638 | +€2,638 | |
| Non-recurring operating income | 76A | - | €566 | +€566 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,481 | €9,992 | +€8,511 | +574.7% |
| Other operating charges | 640/8 | €162 | - | -€162 | |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | -€2,875 | €279 | +€3,154 | |
| Operating profit (loss) | 9901 | -€4,518 | -€9,714 | -€5,196 | -115.0% |
| Financial income | 75/76B | €997 | €344 | -€653 | -65.5% |
| Recurring financial income | 75 | €997 | €344 | -€653 | -65.5% |
| Financial charges | 65/66B | €1,406 | €578 | -€828 | -58.9% |
| Recurring financial charges | 65 | €1,406 | €86 | -€1,320 | -93.9% |
| Non-recurring financial charges | 66B | - | €492 | +€492 | |
| Profit (loss) for the period before taxes | 9903 | -€4,927 | -€9,947 | -€5,020 | -101.9% |
| Income taxes | 67/77 | €163 | €153 | -€10 | -6.0% |
| Profit (loss) for the period | 9904 | -€5,090 | -€10,100 | -€5,010 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,090 | -€10,100 | -€5,010 | -98.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.