KUMECO: 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.
KUMECO
Largest movements
- Receivables after one year +€62,650
up €62,650 (+38.5%), from €162,600 to €225,250
- Current investments +€45,928
up €45,928 (+19.6%), from €234,011 to €279,939
- Cash -€22,306
down €22,306 (-30.6%), from €72,793 to €50,487
mainly Receivables after one year (-€62,650) and Current investments (-€45,928)
- Tangible fixed assets -€22,141
down €22,141 (-27.8%), from €79,532 to €57,391
of which Furniture and vehicles: -€21,754
- Deferred charges and accrued income +€7,535
up €7,535 (+15.3%), from €49,189 to €56,724
- Reserves +€95,245
up €95,245 (+20.7%), from €460,027 to €555,272
of which Distributable reserves: +€95,245
- Debts after one year -€28,210
down €28,210 (-61.6%), from €45,777 to €17,567
- Current portion of long-term debt -€17,255
down €17,255 (-38.0%), from €45,465 to €28,210
- Tax, wage and social debts +€16,985
up €16,985 (+101%), from €16,830 to €33,815
- Gross operating margin -€20,196
down €20,196 (-10.6%), from €189,868 to €169,672
- Depreciation -€20,046
down €20,046 (-42.4%), from €47,311 to €27,265
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 | €598,489 | €670,155 | +€71,666 | +12.0% |
| Fixed assets | 21/28 | €79,895 | €57,754 | -€22,141 | -27.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €79,532 | €57,391 | -€22,141 | -27.8% |
| Land and buildings | 22 | €3,490 | €3,367 | -€124 | -3.5% |
| Plant, machinery and equipment | 23 | €17,186 | €16,924 | -€263 | -1.5% |
| Furniture and vehicles | 24 | €58,855 | €37,101 | -€21,754 | -37.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €518,594 | €612,400 | +€93,806 | +18.1% |
| Amounts receivable after more than one year | 29 | €162,600 | €225,250 | +€62,650 | +38.5% |
| Other amounts receivable | 291 | €162,600 | €225,250 | +€62,650 | +38.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €234,011 | €279,939 | +€45,928 | +19.6% |
| Cash at bank and in hand | 54/58 | €72,793 | €50,487 | -€22,306 | -30.6% |
| Deferred charges and accrued income | 490/1 | €49,189 | €56,724 | +€7,535 | +15.3% |
| Total equity and liabilities | 10/49 | €598,489 | €670,155 | +€71,666 | +12.0% |
| Equity | 10/15 | €472,427 | €567,672 | +€95,245 | +20.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €460,027 | €555,272 | +€95,245 | +20.7% |
| Tax-exempt reserves | 132 | €3,105 | €3,105 | = | 0.0% |
| Distributable reserves | 133 | €456,922 | €552,167 | +€95,245 | +20.8% |
| Amounts payable | 17/49 | €126,062 | €102,483 | -€23,579 | -18.7% |
| Amounts payable after more than one year | 17 | €45,777 | €17,567 | -€28,210 | -61.6% |
| Financial debts | 170/4 | €45,777 | €17,567 | -€28,210 | -61.6% |
| Amounts payable within one year | 42/48 | €77,285 | €82,914 | +€5,629 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €45,465 | €28,210 | -€17,255 | -38.0% |
| Trade debts | 44 | €6,345 | €10,864 | +€4,519 | +71.2% |
| Suppliers | 440/4 | €6,345 | €10,864 | +€4,519 | +71.2% |
| Taxes, remuneration and social security | 45 | €16,830 | €33,815 | +€16,985 | +101% |
| Taxes | 450/3 | €16,830 | €33,815 | +€16,985 | +101% |
| Other amounts payable | 47/48 | €8,646 | €10,026 | +€1,380 | +16.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | €2,001 | -€999 | -33.3% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Remuneration, social security and pensions | 62 | €6,798 | €6,798 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,311 | €27,265 | -€20,046 | -42.4% |
| Other operating charges | 640/8 | €1,085 | €1,138 | +€52 | +4.8% |
| Gross operating margin | 9900 | €189,868 | €169,672 | -€20,196 | -10.6% |
| Operating profit (loss) | 9901 | €134,673 | €134,471 | -€202 | -0.2% |
| Financial income | 75/76B | €9,487 | €10,477 | +€991 | +10.4% |
| Recurring financial income | 75 | €9,487 | €10,477 | +€991 | +10.4% |
| Financial charges | 65/66B | €1,819 | €2,599 | +€780 | +42.9% |
| Recurring financial charges | 65 | €1,819 | €2,599 | +€780 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €142,341 | €142,350 | +€9 | 0.0% |
| Income taxes | 67/77 | €47,337 | €47,105 | -€233 | -0.5% |
| Profit (loss) for the period | 9904 | €95,003 | €95,245 | +€241 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €95,003 | €95,245 | +€241 | +0.3% |
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 1 November 2026 via checked.be.