KUMAS: 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.
KUMAS
Largest movements
- Receivables within one year +€11,623
up €11,623 (+1322.1%), from €879 to €12,502
of which Other amounts receivable: +€6,289
- Cash +€11,175
new in 2025: €11,175
mainly Depreciation (+€36,431) and Debts after one year (+€26,335)
- Debts after one year +€26,335
up €26,335 (+4.6%), from €570,518 to €596,853
of which Other amounts payable: +€26,335
- Trade debts -€26,305
down €26,305 (-47.3%), from €55,618 to €29,313
- Reserves +€10,691
up €10,691 (+11.1%), from €96,100 to €106,791
of which Distributable reserves: +€11,087
- Gross operating margin +€55,999
up €55,999 (+558.2%), from €10,032 to €66,030
- Financial charges -€14,435
down €14,435 (-97.4%), from €14,820 to €384
- Other operating charges +€2,775
up €2,775 (+17.2%), from €16,123 to €18,898
- Depreciation +€1,927
up €1,927 (+5.6%), from €34,505 to €36,431
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 | €948,684 | €959,966 | +€11,282 | +1.2% |
| Fixed assets | 21/28 | €945,806 | €936,289 | -€9,517 | -1.0% |
| Tangible fixed assets | 22/27 | €945,806 | €936,289 | -€9,517 | -1.0% |
| Land and buildings | 22 | €945,806 | €936,289 | -€9,517 | -1.0% |
| Current assets | 29/58 | €2,878 | €23,677 | +€20,799 | +722.7% |
| Amounts receivable within one year | 40/41 | €879 | €12,502 | +€11,623 | +1322.1% |
| Trade receivables | 40 | €879 | €6,213 | +€5,334 | +606.7% |
| Other amounts receivable | 41 | - | €6,289 | +€6,289 | |
| Cash at bank and in hand | 54/58 | - | €11,175 | +€11,175 | |
| Deferred charges and accrued income | 490/1 | €1,999 | €0 | -€1,999 | -100.0% |
| Total equity and liabilities | 10/49 | €948,684 | €959,966 | +€11,282 | +1.2% |
| Equity | 10/15 | €114,383 | €125,074 | +€10,691 | +9.3% |
| Contributions | 10/11 | €18,283 | €18,283 | = | 0.0% |
| Reserves | 13 | €96,100 | €106,791 | +€10,691 | +11.1% |
| Tax-exempt reserves | 132 | €396 | €0 | -€396 | -100.0% |
| Distributable reserves | 133 | €95,704 | €106,791 | +€11,087 | +11.6% |
| Provisions and deferred taxes | 16 | €204 | €0 | -€204 | -100.0% |
| Deferred taxes | 168 | €204 | €0 | -€204 | -100.0% |
| Amounts payable | 17/49 | €834,098 | €834,892 | +€795 | +0.1% |
| Amounts payable after more than one year | 17 | €570,518 | €596,853 | +€26,335 | +4.6% |
| Financial debts | 170/4 | €570,518 | €570,518 | = | 0.0% |
| Other amounts payable | 178/9 | €0 | €26,335 | +€26,335 | |
| Amounts payable within one year | 42/48 | €263,580 | €237,069 | -€26,511 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €14,503 | €14,503 | = | 0.0% |
| Financial debts | 43 | €93,661 | €93,661 | = | 0.0% |
| Credit institutions | 430/8 | €93,661 | €93,661 | = | 0.0% |
| Trade debts | 44 | €55,618 | €29,313 | -€26,305 | -47.3% |
| Suppliers | 440/4 | €55,618 | €29,313 | -€26,305 | -47.3% |
| Advances received on contracts in progress | 46 | €15,000 | €15,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €600 | €2,127 | +€1,527 | +254.5% |
| Taxes | 450/3 | €600 | €2,127 | +€1,527 | +254.5% |
| Other amounts payable | 47/48 | €84,198 | €82,466 | -€1,733 | -2.1% |
| Accrued charges and deferred income | 492/3 | - | €971 | +€971 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,505 | €36,431 | +€1,927 | +5.6% |
| Other operating charges | 640/8 | €16,123 | €18,898 | +€2,775 | +17.2% |
| Gross operating margin | 9900 | €10,032 | €66,030 | +€55,999 | +558.2% |
| Operating profit (loss) | 9901 | -€40,595 | €10,701 | +€51,297 | |
| Financial income | 75/76B | - | €170 | +€170 | |
| Recurring financial income | 75 | - | €170 | +€170 | |
| Financial charges | 65/66B | €14,820 | €384 | -€14,435 | -97.4% |
| Recurring financial charges | 65 | €14,820 | €384 | -€14,435 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | -€55,415 | €10,487 | +€65,902 | |
| Transfer from deferred taxes | 780 | €204 | €204 | -€0 | 0.0% |
| Profit (loss) for the period | 9904 | -€55,211 | €10,691 | +€65,902 | |
| Transfer from tax-exempt reserves | 789 | €396 | €396 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,815 | €11,087 | +€65,902 |
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 7 October 2026 via checked.be.