KWIMEX: 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.
KWIMEX
Largest movements
- Stocks and contracts -€485,007
down €485,007 (-64.3%), from €754,334 to €269,327
of which Contracts in progress: -€479,675
- Receivables within one year +€361,790
up €361,790 (+297%), from €121,923 to €483,713
of which Trade receivables: +€364,421
- Intangible fixed assets +€109,051
up €109,051 (+152%), from €71,828 to €180,878
- Other debts -€200,000
down €200,000 (-60.3%), from €331,520 to €131,520
- Advances received +€186,898
up €186,898 (+73.9%), from €252,766 to €439,664
- Short-term financial debts -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Reserves +€84,432
up €84,432 (+5,223%), from €1,616 to €86,048
- Tax, wage and social debts +€79,863
up €79,863 (+344%), from €23,204 to €103,067
of which Taxes: +€82,838
- Gross operating margin +€128,987
up €128,987 (+88.1%), from €146,468 to €275,455
- Taxes +€27,118
up €27,118 (+1,305%), from €2,078 to €29,195
- Staff costs -€25,940
down €25,940 (-21.8%), from €118,870 to €92,930
- Other operating charges +€24,623
up €24,623 (+342%), from €7,192 to €31,816
- Depreciation +€17,273
up €17,273 (+329%), from €5,255 to €22,529
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,045,709 | €1,026,591 | -€19,119 | -1.8% |
| Formation expenses | 20 | €25,983 | €20,784 | -€5,200 | -20.0% |
| Fixed assets | 21/28 | €74,929 | €182,600 | +€107,671 | +144% |
| Intangible fixed assets | 21 | €71,828 | €180,878 | +€109,051 | +152% |
| Tangible fixed assets | 22/27 | €3,101 | €1,721 | -€1,380 | -44.5% |
| Furniture and vehicles | 24 | €3,101 | €1,721 | -€1,380 | -44.5% |
| Current assets | 29/58 | €944,797 | €823,207 | -€121,590 | -12.9% |
| Stocks and contracts in progress | 3 | €754,334 | €269,327 | -€485,007 | -64.3% |
| Stocks | 30/36 | €6,717 | €1,385 | -€5,332 | -79.4% |
| Contracts in progress | 37 | €747,617 | €267,942 | -€479,675 | -64.2% |
| Amounts receivable within one year | 40/41 | €121,923 | €483,713 | +€361,790 | +297% |
| Trade receivables | 40 | €114,957 | €479,378 | +€364,421 | +317% |
| Other amounts receivable | 41 | €6,966 | €4,334 | -€2,631 | -37.8% |
| Cash at bank and in hand | 54/58 | €68,357 | €66,927 | -€1,430 | -2.1% |
| Deferred charges and accrued income | 490/1 | €184 | €3,240 | +€3,056 | +1,665% |
| Total equity and liabilities | 10/49 | €1,045,709 | €1,026,591 | -€19,119 | -1.8% |
| Equity | 10/15 | €21,616 | €106,048 | +€84,432 | +391% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,616 | €86,048 | +€84,432 | +5,223% |
| Distributable reserves | 133 | €1,616 | €86,048 | +€84,432 | +5,223% |
| Amounts payable | 17/49 | €1,024,093 | €920,543 | -€103,550 | -10.1% |
| Amounts payable within one year | 42/48 | €1,020,529 | €918,793 | -€101,736 | -10.0% |
| Financial debts | 43 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Credit institutions | 430/8 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Trade debts | 44 | €213,039 | €144,542 | -€68,498 | -32.2% |
| Suppliers | 440/4 | €213,039 | €144,542 | -€68,498 | -32.2% |
| Advances received on contracts in progress | 46 | €252,766 | €439,664 | +€186,898 | +73.9% |
| Taxes, remuneration and social security | 45 | €23,204 | €103,067 | +€79,863 | +344% |
| Taxes | 450/3 | €3,226 | €86,064 | +€82,838 | +2,568% |
| Remuneration and social security | 454/9 | €19,978 | €17,003 | -€2,974 | -14.9% |
| Other amounts payable | 47/48 | €331,520 | €131,520 | -€200,000 | -60.3% |
| Accrued charges and deferred income | 492/3 | €3,564 | €1,750 | -€1,814 | -50.9% |
| Remuneration, social security and pensions | 62 | €118,870 | €92,930 | -€25,940 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,255 | €22,529 | +€17,273 | +329% |
| Other operating charges | 640/8 | €7,192 | €31,816 | +€24,623 | +342% |
| Non-recurring operating charges | 66A | - | €3,215 | +€3,215 | |
| Gross operating margin | 9900 | €146,468 | €275,455 | +€128,987 | +88.1% |
| Operating profit (loss) | 9901 | €15,150 | €124,966 | +€109,816 | +725% |
| Financial income | 75/76B | €4,553 | €3,460 | -€1,093 | -24.0% |
| Recurring financial income | 75 | €4,553 | €3,460 | -€1,093 | -24.0% |
| Financial charges | 65/66B | €16,009 | €14,799 | -€1,210 | -7.6% |
| Recurring financial charges | 65 | €16,009 | €14,799 | -€1,210 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €3,694 | €113,627 | +€109,933 | +2,976% |
| Income taxes | 67/77 | €2,078 | €29,195 | +€27,118 | +1,305% |
| Profit (loss) for the period | 9904 | €1,616 | €84,432 | +€82,815 | +5,123% |
| Profit (loss) for the period to be appropriated | 9905 | €1,616 | €84,432 | +€82,815 | +5,123% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.