KAMI: what changed
KAMI
Largest movements
- Receivables within one year -€91,968
down €91,968 (-61.6%), from €149,289 to €57,321
of which Trade receivables: -€97,780
- Cash -€34,759
down €34,759 (-85.2%), from €40,791 to €6,033
mainly Debts after one year (-€68,682) and Tax, wage and social debts (-€31,482)
- Tangible fixed assets -€15,133
down €15,133 (-20.6%), from €73,595 to €58,462
of which Furniture and vehicles: -€14,815
- Debts after one year -€68,682
down €68,682 (-26.5%), from €258,810 to €190,129
of which Other amounts payable: -€60,249
- Tax, wage and social debts -€31,482
down €31,482 (-70.6%), from €44,619 to €13,137
- Profit (loss) carried forward -€24,855
down €24,855 (-21.7%), from €114,430 to €89,575
- Trade debts -€13,672
down €13,672 (-38.9%), from €35,123 to €21,451
- Gross operating margin -€178,804
down €178,804, from €176,805 to -€1,999
- Financial charges -€14,511
down €14,511 (-89.2%), from €16,273 to €1,762
- Depreciation +€9,851
up €9,851 (+131%), from €7,532 to €17,383
- Taxes -€4,810
no longer reported in 2025 (was €4,810)
- Other operating charges +€3,028
up €3,028 (+443%), from €683 to €3,711
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €861,556 | €719,696 | -€141,860 | -16.5% |
| Fixed assets | 21/28 | €671,476 | €656,343 | -€15,133 | -2.3% |
| Tangible fixed assets | 22/27 | €73,595 | €58,462 | -€15,133 | -20.6% |
| Plant, machinery and equipment | 23 | €7,350 | €7,033 | -€318 | -4.3% |
| Furniture and vehicles | 24 | €66,244 | €51,429 | -€14,815 | -22.4% |
| Financial fixed assets | 28 | €597,881 | €597,881 | = | 0.0% |
| Current assets | 29/58 | €190,080 | €63,353 | -€126,727 | -66.7% |
| Amounts receivable within one year | 40/41 | €149,289 | €57,321 | -€91,968 | -61.6% |
| Trade receivables | 40 | €104,515 | €6,735 | -€97,780 | -93.6% |
| Other amounts receivable | 41 | €44,774 | €50,585 | +€5,812 | +13.0% |
| Cash at bank and in hand | 54/58 | €40,791 | €6,033 | -€34,759 | -85.2% |
| Total equity and liabilities | 10/49 | €861,556 | €719,696 | -€141,860 | -16.5% |
| Equity | 10/15 | €459,834 | €434,979 | -€24,855 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €185,000 | €185,000 | = | 0.0% |
| Reserves | 13 | €141,804 | €141,804 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €139,944 | €139,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,430 | €89,575 | -€24,855 | -21.7% |
| Amounts payable | 17/49 | €401,722 | €284,717 | -€117,006 | -29.1% |
| Amounts payable after more than one year | 17 | €258,810 | €190,129 | -€68,682 | -26.5% |
| Financial debts | 170/4 | €42,939 | €34,507 | -€8,433 | -19.6% |
| Other amounts payable | 178/9 | €215,871 | €155,622 | -€60,249 | -27.9% |
| Amounts payable within one year | 42/48 | €142,912 | €94,588 | -€48,324 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €3,170 | €0 | -€3,170 | -100% |
| Trade debts | 44 | €35,123 | €21,451 | -€13,672 | -38.9% |
| Suppliers | 440/4 | €35,123 | €21,451 | -€13,672 | -38.9% |
| Taxes, remuneration and social security | 45 | €44,619 | €13,137 | -€31,482 | -70.6% |
| Taxes | 450/3 | €44,619 | €13,137 | -€31,482 | -70.6% |
| Other amounts payable | 47/48 | €60,000 | €60,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,532 | €17,383 | +€9,851 | +131% |
| Other operating charges | 640/8 | €683 | €3,711 | +€3,028 | +443% |
| Gross operating margin | 9900 | €176,805 | -€1,999 | -€178,804 | |
| Operating profit (loss) | 9901 | €168,590 | -€23,093 | -€191,683 | |
| Financial charges | 65/66B | €16,273 | €1,762 | -€14,511 | -89.2% |
| Recurring financial charges | 65 | €16,273 | €1,762 | -€14,511 | -89.2% |
| Profit (loss) for the period before taxes | 9903 | €152,317 | -€24,855 | -€177,172 | |
| Income taxes | 67/77 | €4,810 | - | -€4,810 | |
| Profit (loss) for the period | 9904 | €147,508 | -€24,855 | -€172,362 | |
| Profit (loss) for the period to be appropriated | 9905 | €147,508 | -€24,855 | -€172,362 |
Next steps
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 1 November 2026 via checked.be.