KUMU GROUP: what changed
What changed
KUMU GROUP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€41,001
2024 · €26,121+€14,881
Equity
€195,293
2024 · €154,292+€41,001
Cash
€13,922
2024 · €16,732-€2,811
Balance sheet total
€1.1m
2024 · €600,320+€466,359
Largest movements
Assets
- Receivables within one year +€514,717
up €514,717 (+1,275%), from €40,383 to €555,100
of which Trade receivables: +€496,874
- Deferred charges and accrued income -€251,295
down €251,295 (-84.2%), from €298,554 to €47,260
- Receivables after one year +€203,650
up €203,650 (+86.1%), from €236,500 to €440,150
Equity and liabilities
- Advances received +€324,674
up €324,674 (+105%), from €309,560 to €634,234
- Current portion of long-term debt +€75,000
new in 2025: €75,000
- Reserves +€41,000
up €41,000 (+28.0%), from €146,600 to €187,600
- Accrued charges and deferred income +€13,951
up €13,951 (+35.7%), from €39,056 to €53,007
- Trade debts +€13,039
up €13,039 (+34.5%), from €37,780 to €50,819
Income statement
- Gross operating margin +€11,030
up €11,030 (+22.5%), from €48,978 to €60,008
- Taxes +€8,603
up €8,603 (+53.3%), from €16,144 to €24,747
- Other operating charges -€7,350
down €7,350 (-73.0%), from €10,064 to €2,715
- Financial income +€4,523
up €4,523 (+73.6%), from €6,146 to €10,670
- Financial charges -€1,200
down €1,200 (-42.9%), from €2,796 to €1,595
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€26,121
Gross operating margin
+€11,030
Depreciation
-€620
Other operating charges
+€7,350
Financial income
+€4,523
Financial charges
+€1,200
Taxes
-€8,603
Result 2025
€41,001
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€75,093
Investment
-€2,717
Financing
+€75,000
Cash 2024
€16,732
From operations (derived)
-€75,093
Net result for the year
+€41,001
Depreciation
+€620
Receivables after one year
-€203,650
Receivables within one year
-€514,717
Deferred charges and accrued income
+€251,295
Trade debts
+€13,039
Tax, wage and social debts
-€1,307
Advances received
+€324,674
Accrued charges and deferred income
+€13,951
Investment (derived)
-€2,717
Investment in fixed assets (net)
-€2,717
Financing
+€75,000
Current portion of long-term debt
+€75,000
Cash 2025
€13,922
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,320 | €1,066,678 | +€466,359 | +77.7% |
| Fixed assets | 21/28 | €8,150 | €10,248 | +€2,098 | +25.7% |
| Tangible fixed assets | 22/27 | - | €2,098 | +€2,098 | |
| Plant, machinery and equipment | 23 | - | €2,098 | +€2,098 | |
| Financial fixed assets | 28 | €8,150 | €8,150 | = | 0.0% |
| Current assets | 29/58 | €592,170 | €1,056,431 | +€464,261 | +78.4% |
| Amounts receivable after more than one year | 29 | €236,500 | €440,150 | +€203,650 | +86.1% |
| Trade receivables | 290 | €236,500 | €440,150 | +€203,650 | +86.1% |
| Amounts receivable within one year | 40/41 | €40,383 | €555,100 | +€514,717 | +1,275% |
| Trade receivables | 40 | €15,562 | €512,436 | +€496,874 | +3,193% |
| Other amounts receivable | 41 | €24,821 | €42,664 | +€17,843 | +71.9% |
| Cash at bank and in hand | 54/58 | €16,732 | €13,922 | -€2,811 | -16.8% |
| Deferred charges and accrued income | 490/1 | €298,554 | €47,260 | -€251,295 | -84.2% |
| Total equity and liabilities | 10/49 | €600,320 | €1,066,678 | +€466,359 | +77.7% |
| Equity | 10/15 | €154,292 | €195,293 | +€41,001 | +26.6% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €146,600 | €187,600 | +€41,000 | +28.0% |
| Distributable reserves | 133 | €146,600 | €187,600 | +€41,000 | +28.0% |
| Profit (loss) carried forward | 14 | €192 | €193 | +€1 | +0.6% |
| Amounts payable | 17/49 | €446,028 | €871,386 | +€425,358 | +95.4% |
| Amounts payable within one year | 42/48 | €406,972 | €818,379 | +€411,407 | +101% |
| Current portion of amounts payable after more than one year | 42 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €37,780 | €50,819 | +€13,039 | +34.5% |
| Suppliers | 440/4 | €37,780 | €50,819 | +€13,039 | +34.5% |
| Advances received on contracts in progress | 46 | €309,560 | €634,234 | +€324,674 | +105% |
| Taxes, remuneration and social security | 45 | €59,632 | €58,326 | -€1,307 | -2.2% |
| Taxes | 450/3 | €59,632 | €58,326 | -€1,307 | -2.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €39,056 | €53,007 | +€13,951 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €620 | +€620 | |
| Other operating charges | 640/8 | €10,064 | €2,715 | -€7,350 | -73.0% |
| Gross operating margin | 9900 | €48,978 | €60,008 | +€11,030 | +22.5% |
| Operating profit (loss) | 9901 | €38,914 | €56,673 | +€17,760 | +45.6% |
| Financial income | 75/76B | €6,146 | €10,670 | +€4,523 | +73.6% |
| Recurring financial income | 75 | €6,146 | €10,670 | +€4,523 | +73.6% |
| Financial charges | 65/66B | €2,796 | €1,595 | -€1,200 | -42.9% |
| Recurring financial charges | 65 | €2,796 | €1,595 | -€1,200 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €42,264 | €65,748 | +€23,483 | +55.6% |
| Income taxes | 67/77 | €16,144 | €24,747 | +€8,603 | +53.3% |
| Profit (loss) for the period | 9904 | €26,121 | €41,001 | +€14,881 | +57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,121 | €41,001 | +€14,881 | +57.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.