S KAHMANN: 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.
S KAHMANN
Largest movements
- Cash +€40,672
up €40,672 (+84.8%), from €47,960 to €88,632
mainly Net result for the year (+€54,419) and Depreciation (+€3,955)
- Tangible fixed assets +€8,210
up €8,210 (+110.4%), from €7,438 to €15,648
of which Other tangible fixed assets: +€5,389
- Reserves +€54,419
up €54,419 (+114.4%), from €47,556 to €101,975
- Trade debts -€2,565
down €2,565 (-57.4%), from €4,471 to €1,906
- Tax, wage and social debts -€1,677
down €1,677 (-31.2%), from €5,374 to €3,697
- Gross operating margin +€26,269
up €26,269 (+43.2%), from €60,842 to €87,111
- Taxes +€6,585
up €6,585 (+42.4%), from €15,535 to €22,121
- Depreciation +€2,039
up €2,039 (+106.5%), from €1,915 to €3,955
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 | €60,079 | €109,777 | +€49,698 | +82.7% |
| Fixed assets | 21/28 | €7,438 | €15,648 | +€8,210 | +110.4% |
| Tangible fixed assets | 22/27 | €7,438 | €15,648 | +€8,210 | +110.4% |
| Plant, machinery and equipment | 23 | €688 | €5,587 | +€4,899 | +712.2% |
| Furniture and vehicles | 24 | €6,750 | €4,672 | -€2,078 | -30.8% |
| Other tangible fixed assets | 26 | - | €5,389 | +€5,389 | |
| Current assets | 29/58 | €52,641 | €94,129 | +€41,488 | +78.8% |
| Amounts receivable within one year | 40/41 | €2,369 | €2,923 | +€554 | +23.4% |
| Other amounts receivable | 41 | €2,369 | €2,923 | +€554 | +23.4% |
| Cash at bank and in hand | 54/58 | €47,960 | €88,632 | +€40,672 | +84.8% |
| Deferred charges and accrued income | 490/1 | €2,313 | €2,574 | +€261 | +11.3% |
| Total equity and liabilities | 10/49 | €60,079 | €109,777 | +€49,698 | +82.7% |
| Equity | 10/15 | €49,556 | €103,975 | +€54,419 | +109.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €47,556 | €101,975 | +€54,419 | +114.4% |
| Distributable reserves | 133 | €47,556 | €101,975 | +€54,419 | +114.4% |
| Amounts payable | 17/49 | €10,523 | €5,801 | -€4,721 | -44.9% |
| Amounts payable within one year | 42/48 | €10,523 | €5,801 | -€4,721 | -44.9% |
| Financial debts | 43 | €315 | €199 | -€116 | -36.9% |
| Credit institutions | 430/8 | €315 | €199 | -€116 | -36.9% |
| Trade debts | 44 | €4,471 | €1,906 | -€2,565 | -57.4% |
| Suppliers | 440/4 | €4,471 | €1,906 | -€2,565 | -57.4% |
| Taxes, remuneration and social security | 45 | €5,374 | €3,697 | -€1,677 | -31.2% |
| Taxes | 450/3 | €5,374 | €3,697 | -€1,677 | -31.2% |
| Other amounts payable | 47/48 | €363 | - | -€363 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,915 | €3,955 | +€2,039 | +106.5% |
| Other operating charges | 640/8 | €551 | €707 | +€156 | +28.2% |
| Gross operating margin | 9900 | €60,842 | €87,111 | +€26,269 | +43.2% |
| Operating profit (loss) | 9901 | €58,376 | €82,450 | +€24,074 | +41.2% |
| Financial income | 75/76B | €85 | - | -€85 | |
| Recurring financial income | 75 | €85 | - | -€85 | |
| Financial charges | 65/66B | €5,894 | €5,910 | +€16 | +0.3% |
| Recurring financial charges | 65 | €5,894 | €5,910 | +€16 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €52,567 | €76,540 | +€23,973 | +45.6% |
| Income taxes | 67/77 | €15,535 | €22,121 | +€6,585 | +42.4% |
| Profit (loss) for the period | 9904 | €37,031 | €54,419 | +€17,388 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,031 | €54,419 | +€17,388 | +47.0% |
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 11 October 2026 via checked.be.