KSPM: 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.
KSPM
Largest movements
- Tangible fixed assets +€37,126
up €37,126 (+2,789%), from €1,331 to €38,457
- Receivables within one year +€29,765
up €29,765 (+1,189%), from €2,503 to €32,268
of which Trade receivables: +€22,699
- Cash -€5,013
down €5,013 (-66.3%), from €7,564 to €2,551
mainly Investment in fixed assets (net) (-€40,858) and Receivables within one year (-€29,765)
- Debts after one year +€22,558
new in 2025: €22,558
- Trade debts +€20,747
up €20,747 (+866%), from €2,397 to €23,143
- Tax, wage and social debts +€8,028
up €8,028 (+477%), from €1,681 to €9,709
- Current portion of long-term debt +€5,617
new in 2025: €5,617
- Profit (loss) carried forward +€4,928
up €4,928 (+92.6%), from €5,320 to €10,248
- Gross operating margin +€3,217
up €3,217 (+40.7%), from €7,907 to €11,124
- Depreciation +€3,067
up €3,067 (+461%), from €666 to €3,732
- Staff costs +€336
new in 2025: €336
- Financial charges +€307
up €307 (+365%), from €84 to €391
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 | €11,398 | €73,276 | +€61,878 | +543% |
| Fixed assets | 21/28 | €1,331 | €38,457 | +€37,126 | +2,789% |
| Tangible fixed assets | 22/27 | €1,331 | €38,457 | +€37,126 | +2,789% |
| Furniture and vehicles | 24 | €1,331 | €38,457 | +€37,126 | +2,789% |
| Current assets | 29/58 | €10,067 | €34,819 | +€24,752 | +246% |
| Amounts receivable within one year | 40/41 | €2,503 | €32,268 | +€29,765 | +1,189% |
| Trade receivables | 40 | €440 | €23,139 | +€22,699 | +5,163% |
| Other amounts receivable | 41 | €2,063 | €9,129 | +€7,066 | +342% |
| Cash at bank and in hand | 54/58 | €7,564 | €2,551 | -€5,013 | -66.3% |
| Total equity and liabilities | 10/49 | €11,398 | €73,276 | +€61,878 | +543% |
| Equity | 10/15 | €7,320 | €12,248 | +€4,928 | +67.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,320 | €10,248 | +€4,928 | +92.6% |
| Amounts payable | 17/49 | €4,078 | €61,028 | +€56,950 | +1,397% |
| Amounts payable after more than one year | 17 | - | €22,558 | +€22,558 | |
| Financial debts | 170/4 | - | €22,558 | +€22,558 | |
| Amounts payable within one year | 42/48 | €4,078 | €38,470 | +€34,392 | +843% |
| Current portion of amounts payable after more than one year | 42 | - | €5,617 | +€5,617 | |
| Trade debts | 44 | €2,397 | €23,143 | +€20,747 | +866% |
| Suppliers | 440/4 | €2,397 | €23,143 | +€20,747 | +866% |
| Taxes, remuneration and social security | 45 | €1,681 | €9,709 | +€8,028 | +477% |
| Taxes | 450/3 | €1,681 | €9,709 | +€8,028 | +477% |
| Remuneration, social security and pensions | 62 | - | €336 | +€336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €666 | €3,732 | +€3,067 | +461% |
| Other operating charges | 640/8 | €157 | €143 | -€14 | -9.2% |
| Gross operating margin | 9900 | €7,907 | €11,124 | +€3,217 | +40.7% |
| Operating profit (loss) | 9901 | €7,085 | €6,913 | -€172 | -2.4% |
| Financial income | 75/76B | €1 | €10 | +€10 | +1,709% |
| Recurring financial income | 75 | €1 | €10 | +€10 | +1,709% |
| Financial charges | 65/66B | €84 | €391 | +€307 | +365% |
| Recurring financial charges | 65 | €84 | €391 | +€307 | +365% |
| Profit (loss) for the period before taxes | 9903 | €7,001 | €6,532 | -€469 | -6.7% |
| Income taxes | 67/77 | €1,681 | €1,604 | -€77 | -4.6% |
| Profit (loss) for the period | 9904 | €5,320 | €4,928 | -€391 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,320 | €4,928 | -€391 | -7.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.