KSM: 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.
KSM
Largest movements
- Receivables within one year +€32,348
up €32,348 (+97.8%), from €33,084 to €65,433
of which Trade receivables: +€32,716
- Cash -€805
down €805 (-99.2%), from €811 to €7
mainly Receivables within one year (-€32,348) and Current portion of long-term debt (-€4,803)
- Trade debts +€22,174
up €22,174 (+178.5%), from €12,426 to €34,600
- Profit (loss) carried forward +€10,201
up €10,201 (+34.8%), from -€29,275 to -€19,074
- Current portion of long-term debt -€4,803
down €4,803 (-100.0%), from €4,803 to €0
- Other debts +€4,440
up €4,440 (+17.3%), from €25,652 to €30,093
- Gross operating margin +€19,768
up €19,768, from -€7,439 to €12,329
- Other operating charges -€2,455
down €2,455 (-81.0%), from €3,033 to €577
- Financial charges +€221
up €221 (+18.5%), from €1,195 to €1,415
- Financial income -€175
down €175 (-100.0%), from €175 to €0
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 | €33,896 | €65,439 | +€31,544 | +93.1% |
| Current assets | 29/58 | €33,896 | €65,439 | +€31,544 | +93.1% |
| Amounts receivable within one year | 40/41 | €33,084 | €65,433 | +€32,348 | +97.8% |
| Trade receivables | 40 | €32,135 | €64,851 | +€32,716 | +101.8% |
| Other amounts receivable | 41 | €950 | €582 | -€368 | -38.7% |
| Cash at bank and in hand | 54/58 | €811 | €7 | -€805 | -99.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €33,896 | €65,439 | +€31,544 | +93.1% |
| Equity | 10/15 | -€9,607 | €594 | +€10,201 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,468 | €13,468 | = | 0.0% |
| Distributable reserves | 133 | €13,468 | €13,468 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,275 | -€19,074 | +€10,201 | +34.8% |
| Amounts payable | 17/49 | €43,503 | €64,846 | +€21,343 | +49.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €43,503 | €64,846 | +€21,343 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €4,803 | €0 | -€4,803 | -100.0% |
| Financial debts | 43 | - | €17 | +€17 | |
| Credit institutions | 430/8 | - | €17 | +€17 | |
| Trade debts | 44 | €12,426 | €34,600 | +€22,174 | +178.5% |
| Suppliers | 440/4 | €12,426 | €34,600 | +€22,174 | +178.5% |
| Taxes, remuneration and social security | 45 | €622 | €136 | -€486 | -78.1% |
| Taxes | 450/3 | €622 | €136 | -€486 | -78.1% |
| Other amounts payable | 47/48 | €25,652 | €30,093 | +€4,440 | +17.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €198 | €0 | -€198 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €3,033 | €577 | -€2,455 | -81.0% |
| Gross operating margin | 9900 | -€7,439 | €12,329 | +€19,768 | |
| Operating profit (loss) | 9901 | -€10,472 | €11,752 | +€22,224 | |
| Financial income | 75/76B | €175 | €0 | -€175 | -100.0% |
| Recurring financial income | 75 | €175 | €0 | -€175 | -100.0% |
| Financial charges | 65/66B | €1,195 | €1,415 | +€221 | +18.5% |
| Recurring financial charges | 65 | €1,195 | €1,415 | +€221 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,491 | €10,337 | +€21,828 | |
| Income taxes | 67/77 | €75 | €136 | +€61 | +82.2% |
| Profit (loss) for the period | 9904 | -€11,566 | €10,201 | +€21,767 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,566 | €10,201 | +€21,767 |
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 4 October 2026 via checked.be.