KAMA PROJECTS: 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.
KAMA PROJECTS
Largest movements
- Stocks and contracts +€28,718
up €28,718 (+9.2%), from €313,650 to €342,368
- Cash +€3,787
up €3,787 (+37.0%), from €10,222 to €14,009
mainly Current portion of long-term debt (+€45,000) and Trade debts (+€10,373)
- Current portion of long-term debt +€45,000
up €45,000 (+17.6%), from €255,000 to €300,000
- Profit (loss) carried forward -€18,226
down €18,226 (-2.1%), from -€852,545 to -€870,771
- Trade debts +€10,373
up €10,373 (+2,317%), from €448 to €10,821
- Financial charges -€3,280
down €3,280 (-21.6%), from €15,202 to €11,922
- Other operating charges +€2,534
up €2,534 (+2,147%), from €118 to €2,652
- Gross operating margin +€2,469
up €2,469 (+42.6%), from -€5,798 to -€3,329
- Depreciation +€323
new in 2025: €323
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 | €326,432 | €363,560 | +€37,128 | +11.4% |
| Fixed assets | 21/28 | - | €2,911 | +€2,911 | |
| Tangible fixed assets | 22/27 | - | €2,911 | +€2,911 | |
| Furniture and vehicles | 24 | - | €2,911 | +€2,911 | |
| Current assets | 29/58 | €326,432 | €360,649 | +€34,217 | +10.5% |
| Stocks and contracts in progress | 3 | €313,650 | €342,368 | +€28,718 | +9.2% |
| Stocks | 30/36 | €313,650 | €342,368 | +€28,718 | +9.2% |
| Amounts receivable within one year | 40/41 | €2,560 | €3,546 | +€986 | +38.5% |
| Trade receivables | 40 | €699 | - | -€699 | |
| Other amounts receivable | 41 | €1,861 | €3,546 | +€1,685 | +90.6% |
| Cash at bank and in hand | 54/58 | €10,222 | €14,009 | +€3,787 | +37.0% |
| Deferred charges and accrued income | 490/1 | - | €726 | +€726 | |
| Total equity and liabilities | 10/49 | €326,432 | €363,560 | +€37,128 | +11.4% |
| Equity | 10/15 | -€244,035 | -€262,261 | -€18,226 | -7.5% |
| Contributions | 10/11 | €606,200 | €606,200 | = | 0.0% |
| Reserves | 13 | €2,310 | €2,310 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,310 | €2,310 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,310 | €2,310 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€852,545 | -€870,771 | -€18,226 | -2.1% |
| Amounts payable | 17/49 | €570,467 | €625,821 | +€55,354 | +9.7% |
| Amounts payable after more than one year | 17 | €225,928 | €225,928 | = | 0.0% |
| Other amounts payable | 178/9 | €225,928 | €225,928 | = | 0.0% |
| Amounts payable within one year | 42/48 | €344,539 | €399,893 | +€55,354 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €255,000 | €300,000 | +€45,000 | +17.6% |
| Trade debts | 44 | €448 | €10,821 | +€10,373 | +2,317% |
| Suppliers | 440/4 | €448 | €10,821 | +€10,373 | +2,317% |
| Taxes, remuneration and social security | 45 | €234 | €323 | +€89 | +38.2% |
| Taxes | 450/3 | €234 | €323 | +€89 | +38.2% |
| Other amounts payable | 47/48 | €88,857 | €88,749 | -€108 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €323 | +€323 | |
| Other operating charges | 640/8 | €118 | €2,652 | +€2,534 | +2,147% |
| Gross operating margin | 9900 | -€5,798 | -€3,329 | +€2,469 | +42.6% |
| Operating profit (loss) | 9901 | -€5,916 | -€6,304 | -€388 | -6.6% |
| Financial charges | 65/66B | €15,202 | €11,922 | -€3,280 | -21.6% |
| Recurring financial charges | 65 | €15,202 | €11,922 | -€3,280 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,118 | -€18,226 | +€2,892 | +13.7% |
| Profit (loss) for the period | 9904 | -€21,118 | -€18,226 | +€2,892 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,118 | -€18,226 | +€2,892 | +13.7% |
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 31 October 2026 via checked.be.