KUMBA: 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.
KUMBA
Largest movements
- Receivables after one year +€40,000
up €40,000 (+88.9%), from €45,000 to €85,000
- Receivables within one year -€38,676
down €38,676 (-43.0%), from €90,040 to €51,365
of which Trade receivables: -€54,447
- Cash -€23,034
down €23,034 (-51.0%), from €45,202 to €22,168
mainly Receivables after one year (-€40,000) and Other debts (-€34,180)
- Tangible fixed assets -€22,976
down €22,976 (-14.4%), from €159,641 to €136,665
of which Furniture and vehicles: -€15,341
- Deferred charges and accrued income -€6,077
down €6,077 (-95.1%), from €6,389 to €312
- Other debts -€34,180
down €34,180 (-100.0%), from €34,180 to €0
- Debts after one year -€16,322
down €16,322 (-14.8%), from €109,951 to €93,629
- Reserves +€5,500
up €5,500 (+3.3%), from €165,544 to €171,044
- Gross operating margin -€80,136
down €80,136 (-70.3%), from €114,027 to €33,891
- Taxes -€17,613
down €17,613 (-86.2%), from €20,436 to €2,823
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 | €346,272 | €295,510 | -€50,762 | -14.7% |
| Fixed assets | 21/28 | €159,641 | €136,665 | -€22,976 | -14.4% |
| Tangible fixed assets | 22/27 | €159,641 | €136,665 | -€22,976 | -14.4% |
| Land and buildings | 22 | €134,368 | €126,732 | -€7,635 | -5.7% |
| Furniture and vehicles | 24 | €25,273 | €9,933 | -€15,341 | -60.7% |
| Current assets | 29/58 | €186,631 | €158,844 | -€27,786 | -14.9% |
| Amounts receivable after more than one year | 29 | €45,000 | €85,000 | +€40,000 | +88.9% |
| Other amounts receivable | 291 | €45,000 | €85,000 | +€40,000 | +88.9% |
| Amounts receivable within one year | 40/41 | €90,040 | €51,365 | -€38,676 | -43.0% |
| Trade receivables | 40 | €77,180 | €22,732 | -€54,447 | -70.5% |
| Other amounts receivable | 41 | €12,860 | €28,632 | +€15,772 | +122.6% |
| Cash at bank and in hand | 54/58 | €45,202 | €22,168 | -€23,034 | -51.0% |
| Deferred charges and accrued income | 490/1 | €6,389 | €312 | -€6,077 | -95.1% |
| Total equity and liabilities | 10/49 | €346,272 | €295,510 | -€50,762 | -14.7% |
| Equity | 10/15 | €165,545 | €171,347 | +€5,802 | +3.5% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €165,544 | €171,044 | +€5,500 | +3.3% |
| Distributable reserves | 133 | €165,544 | €171,044 | +€5,500 | +3.3% |
| Profit (loss) carried forward | 14 | - | €302 | +€302 | |
| Amounts payable | 17/49 | €180,727 | €124,162 | -€56,564 | -31.3% |
| Amounts payable after more than one year | 17 | €109,951 | €93,629 | -€16,322 | -14.8% |
| Financial debts | 170/4 | €109,951 | €93,629 | -€16,322 | -14.8% |
| Amounts payable within one year | 42/48 | €70,776 | €30,534 | -€40,242 | -56.9% |
| Current portion of amounts payable after more than one year | 42 | €19,466 | €16,322 | -€3,144 | -16.2% |
| Trade debts | 44 | €4,686 | €1,526 | -€3,161 | -67.4% |
| Suppliers | 440/4 | €4,686 | €1,526 | -€3,161 | -67.4% |
| Taxes, remuneration and social security | 45 | €12,442 | €12,686 | +€243 | +2.0% |
| Taxes | 450/3 | €12,442 | €12,686 | +€243 | +2.0% |
| Other amounts payable | 47/48 | €34,180 | €0 | -€34,180 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,462 | €24,338 | +€876 | +3.7% |
| Other operating charges | 640/8 | €2,058 | €1,098 | -€960 | -46.7% |
| Non-recurring operating charges | 66A | €153 | - | -€153 | |
| Gross operating margin | 9900 | €114,027 | €33,891 | -€80,136 | -70.3% |
| Operating profit (loss) | 9901 | €88,354 | €8,455 | -€79,899 | -90.4% |
| Financial income | 75/76B | €1,414 | €2,551 | +€1,137 | +80.4% |
| Recurring financial income | 75 | €1,414 | €2,551 | +€1,137 | +80.4% |
| Financial charges | 65/66B | €3,152 | €2,381 | -€771 | -24.4% |
| Recurring financial charges | 65 | €3,152 | €2,381 | -€771 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €86,617 | €8,625 | -€77,992 | -90.0% |
| Income taxes | 67/77 | €20,436 | €2,823 | -€17,613 | -86.2% |
| Profit (loss) for the period | 9904 | €66,180 | €5,802 | -€60,378 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €66,180 | €5,802 | -€60,378 | -91.2% |
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 8 October 2026 via checked.be.