KTSM PARTNERS: 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.
KTSM PARTNERS
Largest movements
- Cash +€4,516
up €4,516 (+535%), from €844 to €5,361
mainly Net result for the year (+€4,210) and Depreciation (+€3,200)
- Tangible fixed assets -€3,200
down €3,200 (-37.7%), from €8,495 to €5,296
- Receivables within one year +€346
up €346 (+8.8%), from €3,920 to €4,266
of which Trade receivables: +€768
- Other debts -€4,382
down €4,382 (-34.3%), from €12,794 to €8,412
- Profit (loss) carried forward +€4,210
up €4,210, from -€2,378 to €1,832
- Tax, wage and social debts +€2,192
up €2,192 (+257%), from €851 to €3,043
- Trade debts -€357
down €357 (-72.5%), from €492 to €135
- Gross operating margin +€9,601
up €9,601, from -€1,100 to €8,501
- Depreciation +€2,095
up €2,095 (+190%), from €1,105 to €3,200
- Taxes +€458
new in 2025: €458
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 | €13,259 | €14,922 | +€1,663 | +12.5% |
| Fixed assets | 21/28 | €8,495 | €5,296 | -€3,200 | -37.7% |
| Tangible fixed assets | 22/27 | €8,495 | €5,296 | -€3,200 | -37.7% |
| Furniture and vehicles | 24 | €8,495 | €5,296 | -€3,200 | -37.7% |
| Current assets | 29/58 | €4,764 | €9,627 | +€4,863 | +102% |
| Amounts receivable within one year | 40/41 | €3,920 | €4,266 | +€346 | +8.8% |
| Trade receivables | 40 | €3,469 | €4,237 | +€768 | +22.1% |
| Other amounts receivable | 41 | €451 | €29 | -€422 | -93.6% |
| Cash at bank and in hand | 54/58 | €844 | €5,361 | +€4,516 | +535% |
| Total equity and liabilities | 10/49 | €13,259 | €14,922 | +€1,663 | +12.5% |
| Equity | 10/15 | -€878 | €3,332 | +€4,210 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,378 | €1,832 | +€4,210 | |
| Amounts payable | 17/49 | €14,137 | €11,590 | -€2,547 | -18.0% |
| Amounts payable within one year | 42/48 | €14,137 | €11,590 | -€2,547 | -18.0% |
| Trade debts | 44 | €492 | €135 | -€357 | -72.5% |
| Suppliers | 440/4 | €492 | €135 | -€357 | -72.5% |
| Taxes, remuneration and social security | 45 | €851 | €3,043 | +€2,192 | +257% |
| Taxes | 450/3 | €851 | €3,043 | +€2,192 | +257% |
| Other amounts payable | 47/48 | €12,794 | €8,412 | -€4,382 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,105 | €3,200 | +€2,095 | +190% |
| Other operating charges | 640/8 | €170 | €170 | = | 0.0% |
| Non-recurring operating charges | 66A | - | €442 | +€442 | |
| Gross operating margin | 9900 | -€1,100 | €8,501 | +€9,601 | |
| Operating profit (loss) | 9901 | -€2,375 | €4,689 | +€7,064 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +500% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +500% |
| Financial charges | 65/66B | €3 | €22 | +€19 | +617% |
| Recurring financial charges | 65 | €3 | €22 | +€19 | +617% |
| Profit (loss) for the period before taxes | 9903 | -€2,378 | €4,668 | +€7,045 | |
| Income taxes | 67/77 | - | €458 | +€458 | |
| Profit (loss) for the period | 9904 | -€2,378 | €4,210 | +€6,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,378 | €4,210 | +€6,587 |
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 25 October 2026 via checked.be.