KVR Technics
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-02-2026 PDF all 5 filings
Turnover
≈ €230,000
Estimated: probably between €160,000 and €360,000
Total assets
€75,429▲ 8.2%
2024 · €69,704
Net result
€27,294▲ 297%
2024 · €6,876
Working capital
-€32,745▼ 42.7%
2024 · -€22,942
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€37,030
▲ 207%
2025
20212025
Net result
€27,294
▲ 297%
2025
middle half of the sector
20212025
Equity
€879
▲ 50.4%
2025
lowest quarter of the sector
20212025
Total assets
€75,429
▲ 8.2%
2025
middle half of the sector
20212025
Debt
€74,550
▲ 7.9%
2025
20212025
Working capital
-€32,745
▼ 42.7%
2025
lowest quarter of the sector
20212025
Solvency
1.2%
▲ 0.3pp
2025
lowest quarter of the sector
20212025
Current ratio
0.37
▲ 0.04
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
36.2%
▲ 26.3pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,485--€167€10,624€12,044▲ 13.4%€37,030▲ 207%
Net result€7,026within the sector's middle half--€1,768below the sector's middle half€6,351within the sector's middle half€6,876within the sector's middle half▲ 8.3%€27,294within the sector's middle half▲ 297%
Equity€7,126below the sector's middle half-€5,357below the sector's middle half▼ 24.8%€11,708below the sector's middle half▲ 119%€584below the sector's middle half▼ 95.0%€879below the sector's middle half▲ 50.4%
Total assets€27,099below the sector's middle half-€20,980below the sector's middle half▼ 22.6%€81,832within the sector's middle half▲ 290%€69,704within the sector's middle half▼ 14.8%€75,429within the sector's middle half▲ 8.2%
Debt€19,973-€15,623▼ 21.8%€70,124▲ 349%€69,120▼ 1.4%€74,550▲ 7.9%
Working capital-€281below the sector's middle half--€914below the sector's middle half▼ 225%-€6,062below the sector's middle half▼ 563%-€22,942below the sector's middle half▼ 278%-€32,745below the sector's middle half▼ 42.7%
Solvency26.3%within the sector's middle half-25.5%within the sector's middle half▼ 0.8pp14.3%below the sector's middle half▼ 11.2pp0.8%below the sector's middle half▼ 13.5pp1.2%below the sector's middle half▲ 0.3pp
Current ratio0.97below the sector's middle half-0.88below the sector's middle half▼ 0.090.69below the sector's middle half▼ 0.190.33below the sector's middle half▼ 0.350.37below the sector's middle half▲ 0.04
Return on assets (ROA)25.9%above the sector's middle half--8.4%below the sector's middle half▼ 34.4pp7.8%within the sector's middle half▲ 16.2pp9.9%within the sector's middle half▲ 2.1pp36.2%above the sector's middle half▲ 26.3pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 3.1 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75,429
Fixed assets
€56,386 ▼ 3.3%
Current assets
€19,043 ▲ 67.4%
Equity and liabilities €75,429
Equity
€879 ▲ 50.4%
Debt
€74,550 ▲ 7.9%
Debt's share of the balance-sheet total falls from 99.2% to 98.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€48,875▲
2024 · €24,415
Cash flow
€39,140▲
2024 · €19,247
Interest coverage
63.73▲
2024 · 31.91
Debt ≤ 1 year
€51,788▲
2024 · €34,321
Debt > 1 year
€22,763▼
2024 · €34,798
Income taxes
€8,969▲
2024 · €4,498
The equity ratios are withheld because equity of €879 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €25,693 | €294 | €2,775 | €24,022 | €34,407 |
| Intangible fixed assets | - | - | €60,000 | - | - |
| Depreciation and write-downs of the year | €6,439 | €5,234 | €8,522 | €12,371 | €11,846 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,439 | €5,234 | €8,522 | €12,371 | €11,846 | ▼ 4.3% |
| Other operating charges640/8 | €159 | €930 | €589 | €917 | €737 | ▼ 19.7% |
| Non-recurring operating charges66A | - | - | - | €1,232 | €0 | ▼ 100% |
| Gross operating margin9900 | €17,083 | €5,997 | €19,735 | €26,564 | €49,612 | ▲ 86.8% |
| Operating profit (loss)9901 | €10,485 | -€167 | €10,624 | €12,044 | €37,030 | ▲ 207% |
| Financial income75/76B | €1 | €0 | €79 | €96 | €1 | ▼ 99.0% |
| Recurring financial income75 | €1 | €0 | €79 | €96 | €1 | ▼ 99.0% |
| Financial charges65/66B | €1,551 | €1,072 | €1,453 | €765 | €767 | ▲ 0.2% |
| Recurring financial charges65 | €1,551 | €1,072 | €1,453 | €765 | €767 | ▲ 0.2% |
| Profit (loss) for the period before taxes9903 | €8,934 | -€1,239 | €9,250 | €11,374 | €36,264 | ▲ 219% |
| Income taxes67/77 | €1,908 | €530 | €2,899 | €4,498 | €8,969 | ▲ 99.4% |
| Profit (loss) for the period9904 | €7,026 | -€1,768 | €6,351 | €6,876 | €27,294 | ▲ 297% |
| Profit (loss) for the period to be appropriated9905 | €7,026 | -€1,768 | €6,351 | €6,876 | €27,294 | ▲ 297% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €27,099 | €20,980 | €81,832 | €69,704 | €75,429 | ▲ 8.2% |
| Fixed assets21/28 | €19,254 | €14,314 | €68,567 | €58,325 | €56,386 | ▼ 3.3% |
| Intangible fixed assets21 | - | - | €56,942 | €50,942 | €44,942 | ▼ 11.8% |
| Tangible fixed assets22/27 | €19,254 | €14,314 | €11,624 | €7,382 | €11,443 | ▲ 55.0% |
| Furniture and vehicles24 | €1,036 | €996 | €3,207 | €3,865 | €3,857 | ▼ 0.2% |
| Leasing and similar rights25 | €18,217 | €13,317 | €8,417 | €3,517 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | - | €7,587 | - |
| Current assets29/58 | €7,845 | €6,666 | €13,266 | €11,379 | €19,043 | ▲ 67.4% |
| Amounts receivable within one year40/41 | €4,464 | €1,226 | €6,147 | €8,675 | €1,548 | ▼ 82.2% |
| Trade receivables40 | €1,949 | €183 | €919 | €6,809 | €1,387 | ▼ 79.6% |
| Other amounts receivable41 | €2,515 | €1,043 | €5,228 | €1,866 | €161 | ▼ 91.4% |
| Cash at bank and in hand54/58 | €3,380 | €5,417 | €7,014 | €1,091 | €15,732 | ▲ 14× |
| Deferred charges and accrued income490/1 | - | €23 | €104 | €1,613 | €1,764 | ▲ 9.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €27,099 | €20,980 | €81,832 | €69,704 | €75,429 | ▲ 8.2% |
| Equity10/15 | €7,126 | €5,357 | €11,708 | €584 | €879 | ▲ 50.4% |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €7,026 | €5,257 | €11,608 | €484 | €779 | ▲ 60.8% |
| Distributable reserves133 | €7,026 | €5,257 | €11,608 | €484 | €779 | ▲ 60.8% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €19,973 | €15,623 | €70,124 | €69,120 | €74,550 | ▲ 7.9% |
| Amounts payable after more than one year17 | €11,846 | €8,042 | €50,796 | €34,798 | €22,763 | ▼ 34.6% |
| Financial debts170/4 | €11,846 | €8,042 | €50,796 | €34,798 | €22,763 | ▼ 34.6% |
| Amounts payable within one year42/48 | €8,126 | €7,581 | €19,328 | €34,321 | €51,788 | ▲ 50.9% |
| Current portion of amounts payable after more than one year42 | €3,604 | €3,804 | €15,926 | €15,998 | €12,036 | ▼ 24.8% |
| Financial debts43 | - | - | €15 | €35 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €15 | €35 | €0 | ▼ 100% |
| Trade debts44 | €2,124 | €593 | €226 | €5,046 | €1,689 | ▼ 66.5% |
| Suppliers440/4 | €2,124 | €593 | €226 | €5,046 | €1,689 | ▼ 66.5% |
| Taxes, remuneration and social security45 | €1,908 | €3,183 | €3,161 | €5,243 | €10,831 | ▲ 107% |
| Taxes450/3 | €1,908 | €3,183 | €3,161 | €5,243 | €10,831 | ▲ 107% |
| Other amounts payable47/48 | €490 | €0 | - | €8,000 | €27,232 | ▲ 240% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,026 | -€1,768 | €6,351 | €6,876 | €27,294 | ▲ 297% |
| + Depreciation and write-downs630 | €6,439 | €5,234 | €8,522 | €12,371 | €11,846 | ▼ 4.3% |
| Operating cash flow (approximation) | €13,465 | €3,466 | €14,873 | €19,247 | €39,140 | ▲ 103% |
| Investment in fixed assets (approximation) | - | -€294 | -€62,775 | -€2,129 | -€9,907 | ▼ 365% |
| Change in cash | - | €2,037 | €1,597 | -€5,923 | €14,641 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as KVR Technics has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
That fits the bankruptcy probability of KVR Technics itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,153 companies, not a prediction for KVR Technics. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-02-2026 | 2026-00048799 | |
| 31-12-2024 | micro format | 04-06-2025 | 2025-00117028 | |
| 31-12-2023 | micro format | 09-04-2024 | 2024-00062450 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00142460 | |
| 31-12-2021 | micro format | 12-07-2022 | 2022-20181903 |