KM-E: what changed
KM-E
Largest movements
- Cash -€97,580
down €97,580 (-47.3%), from €206,128 to €108,548
mainly Receivables within one year (-€48,541) and Trade debts (-€46,503)
- Receivables within one year +€48,541
up €48,541 (+52.9%), from €91,740 to €140,281
of which Trade receivables: +€42,541
- Stocks and contracts +€18,790
up €18,790 (+16.2%), from €116,048 to €134,838
- Tangible fixed assets -€9,686
down €9,686 (-26.2%), from €36,942 to €27,256
- Reserves +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Trade debts -€46,503
down €46,503 (-91.6%), from €50,747 to €4,244
- Tax, wage and social debts -€31,056
down €31,056 (-45.5%), from €68,228 to €37,172
- Debts after one year -€29,310
down €29,310 (-15.0%), from €194,777 to €165,467
- Profit (loss) carried forward +€20,493
up €20,493 (+6,766%), from €303 to €20,796
- Gross operating margin -€38,672
down €38,672 (-26.0%), from €148,595 to €109,923
- Taxes -€7,355
down €7,355 (-27.7%), from €26,533 to €19,178
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 | €450,858 | €412,209 | -€38,649 | -8.6% |
| Fixed assets | 21/28 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Tangible fixed assets | 22/27 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Furniture and vehicles | 24 | €36,942 | €27,256 | -€9,686 | -26.2% |
| Current assets | 29/58 | €413,915 | €384,953 | -€28,962 | -7.0% |
| Stocks and contracts in progress | 3 | €116,048 | €134,838 | +€18,790 | +16.2% |
| Stocks | 30/36 | €116,048 | €134,838 | +€18,790 | +16.2% |
| Amounts receivable within one year | 40/41 | €91,740 | €140,281 | +€48,541 | +52.9% |
| Trade receivables | 40 | €91,740 | €134,281 | +€42,541 | +46.4% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €206,128 | €108,548 | -€97,580 | -47.3% |
| Deferred charges and accrued income | 490/1 | - | €1,286 | +€1,286 | |
| Total equity and liabilities | 10/49 | €450,858 | €412,209 | -€38,649 | -8.6% |
| Equity | 10/15 | €100,363 | €170,856 | +€70,493 | +70.2% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Distributable reserves | 133 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Profit (loss) carried forward | 14 | €303 | €20,796 | +€20,493 | +6,766% |
| Amounts payable | 17/49 | €350,495 | €241,353 | -€109,141 | -31.1% |
| Amounts payable after more than one year | 17 | €194,777 | €165,467 | -€29,310 | -15.0% |
| Financial debts | 170/4 | €194,777 | €165,467 | -€29,310 | -15.0% |
| Amounts payable within one year | 42/48 | €155,718 | €75,533 | -€80,185 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €28,163 | €29,310 | +€1,147 | +4.1% |
| Trade debts | 44 | €50,747 | €4,244 | -€46,503 | -91.6% |
| Suppliers | 440/4 | €50,747 | €4,244 | -€46,503 | -91.6% |
| Taxes, remuneration and social security | 45 | €68,228 | €37,172 | -€31,056 | -45.5% |
| Taxes | 450/3 | €68,228 | €37,172 | -€31,056 | -45.5% |
| Other amounts payable | 47/48 | €8,580 | €4,807 | -€3,773 | -44.0% |
| Accrued charges and deferred income | 492/3 | - | €354 | +€354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,399 | €9,686 | -€713 | -6.9% |
| Other operating charges | 640/8 | €296 | €546 | +€250 | +84.4% |
| Gross operating margin | 9900 | €148,595 | €109,923 | -€38,672 | -26.0% |
| Operating profit (loss) | 9901 | €137,900 | €99,691 | -€38,209 | -27.7% |
| Financial income | 75/76B | €477 | €560 | +€83 | +17.4% |
| Recurring financial income | 75 | €477 | €560 | +€83 | +17.4% |
| Financial charges | 65/66B | €9,822 | €8,914 | -€909 | -9.3% |
| Recurring financial charges | 65 | €9,822 | €8,914 | -€909 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €128,554 | €91,337 | -€37,217 | -29.0% |
| Income taxes | 67/77 | €26,533 | €19,178 | -€7,355 | -27.7% |
| Profit (loss) for the period | 9904 | €102,021 | €72,159 | -€29,862 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,021 | €72,159 | -€29,862 | -29.3% |
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 6 November 2026 via checked.be.