KUEMKA: 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.
KUEMKA
Largest movements
- Receivables within one year +€301,557
up €301,557 (+472%), from €63,871 to €365,428
of which Trade receivables: +€319,059
- Cash -€27,183
down €27,183 (-5.2%), from €517,997 to €490,814
mainly Receivables within one year (-€301,557) and Other debts (-€101,567)
- Tangible fixed assets -€10,584
down €10,584 (-9.2%), from €114,818 to €104,234
of which Land and buildings: -€8,419
- Reserves +€304,978
up €304,978 (+60.0%), from €508,484 to €813,462
- Tax, wage and social debts +€113,726
up €113,726 (+391%), from €29,120 to €142,846
- Other debts -€101,567
down €101,567 (-99.4%), from €102,141 to €574
- Advances received -€50,048
no longer reported in 2025 (was €50,048)
- Gross operating margin +€295,805
up €295,805 (+115%), from €257,979 to €553,784
- Taxes +€108,300
up €108,300 (+167%), from €64,792 to €173,092
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 | €701,892 | €965,775 | +€263,883 | +37.6% |
| Fixed assets | 21/28 | €115,053 | €104,469 | -€10,584 | -9.2% |
| Tangible fixed assets | 22/27 | €114,818 | €104,234 | -€10,584 | -9.2% |
| Land and buildings | 22 | €109,451 | €101,032 | -€8,419 | -7.7% |
| Furniture and vehicles | 24 | €5,367 | €3,202 | -€2,165 | -40.3% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €586,839 | €861,306 | +€274,467 | +46.8% |
| Amounts receivable within one year | 40/41 | €63,871 | €365,428 | +€301,557 | +472% |
| Trade receivables | 40 | €46,369 | €365,428 | +€319,059 | +688% |
| Other amounts receivable | 41 | €17,502 | - | -€17,502 | |
| Cash at bank and in hand | 54/58 | €517,997 | €490,814 | -€27,183 | -5.2% |
| Deferred charges and accrued income | 490/1 | €4,971 | €5,064 | +€93 | +1.9% |
| Total equity and liabilities | 10/49 | €701,892 | €965,775 | +€263,883 | +37.6% |
| Equity | 10/15 | €508,484 | €813,462 | +€304,978 | +60.0% |
| Reserves | 13 | €508,484 | €813,462 | +€304,978 | +60.0% |
| Distributable reserves | 133 | €508,484 | €813,462 | +€304,978 | +60.0% |
| Amounts payable | 17/49 | €193,408 | €152,313 | -€41,095 | -21.2% |
| Amounts payable within one year | 42/48 | €190,653 | €148,449 | -€42,204 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €5,990 | - | -€5,990 | |
| Trade debts | 44 | €3,354 | €5,029 | +€1,675 | +49.9% |
| Suppliers | 440/4 | €3,354 | €5,029 | +€1,675 | +49.9% |
| Advances received on contracts in progress | 46 | €50,048 | - | -€50,048 | |
| Taxes, remuneration and social security | 45 | €29,120 | €142,846 | +€113,726 | +391% |
| Taxes | 450/3 | €29,120 | €142,846 | +€113,726 | +391% |
| Other amounts payable | 47/48 | €102,141 | €574 | -€101,567 | -99.4% |
| Accrued charges and deferred income | 492/3 | €2,755 | €3,864 | +€1,109 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,292 | €10,584 | +€292 | +2.8% |
| Other operating charges | 640/8 | €1,827 | €1,614 | -€213 | -11.7% |
| Gross operating margin | 9900 | €257,979 | €553,784 | +€295,805 | +115% |
| Operating profit (loss) | 9901 | €245,860 | €541,586 | +€295,726 | +120% |
| Financial income | 75/76B | €4,303 | €3,128 | -€1,175 | -27.3% |
| Recurring financial income | 75 | €4,303 | €3,128 | -€1,175 | -27.3% |
| Financial charges | 65/66B | €1,797 | €4,686 | +€2,889 | +161% |
| Recurring financial charges | 65 | €1,797 | €4,686 | +€2,889 | +161% |
| Profit (loss) for the period before taxes | 9903 | €248,366 | €540,028 | +€291,662 | +117% |
| Income taxes | 67/77 | €64,792 | €173,092 | +€108,300 | +167% |
| Profit (loss) for the period | 9904 | €183,574 | €366,936 | +€183,362 | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €183,574 | €366,936 | +€183,362 | +99.9% |
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 28 October 2026 via checked.be.