K.V.B.: 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.
K.V.B.
Largest movements
- Cash +€11,789
up €11,789 (+135%), from €8,762 to €20,551
mainly Net result for the year (+€18,031) and Tax, wage and social debts (+€6,781)
- Tangible fixed assets -€4,410
down €4,410 (-3.3%), from €135,392 to €130,982
- Reserves +€16,790
new in 2025: €16,790
of which Distributable reserves: +€15,000
- Debts after one year -€9,545
down €9,545 (-14.6%), from €65,545 to €56,000
of which Financial debts: -€9,545
- Tax, wage and social debts +€6,781
up €6,781 (+120%), from €5,636 to €12,417
- Trade debts -€4,659
down €4,659 (-62.7%), from €7,426 to €2,767
- Other debts -€3,652
down €3,652 (-74.0%), from €4,936 to €1,285
- Gross operating margin +€3,305
up €3,305 (+10.6%), from €31,300 to €34,605
- Taxes +€2,205
up €2,205 (+34.4%), from €6,405 to €8,609
- Financial charges +€1,896
up €1,896 (+185%), from €1,024 to €2,921
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 | €157,630 | €163,031 | +€5,401 | +3.4% |
| Fixed assets | 21/28 | €135,392 | €130,982 | -€4,410 | -3.3% |
| Tangible fixed assets | 22/27 | €135,392 | €130,982 | -€4,410 | -3.3% |
| Land and buildings | 22 | €135,392 | €130,982 | -€4,410 | -3.3% |
| Current assets | 29/58 | €22,238 | €32,050 | +€9,812 | +44.1% |
| Amounts receivable within one year | 40/41 | €13,003 | €11,499 | -€1,504 | -11.6% |
| Trade receivables | 40 | €11,290 | €1,290 | -€10,000 | -88.6% |
| Other amounts receivable | 41 | €1,714 | €10,209 | +€8,496 | +496% |
| Cash at bank and in hand | 54/58 | €8,762 | €20,551 | +€11,789 | +135% |
| Deferred charges and accrued income | 490/1 | €473 | - | -€473 | |
| Total equity and liabilities | 10/49 | €157,630 | €163,031 | +€5,401 | +3.4% |
| Equity | 10/15 | €61,593 | €78,790 | +€17,198 | +27.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | - | €16,790 | +€16,790 | |
| Non-distributable reserves | 130/1 | - | €1,790 | +€1,790 | |
| Legal reserve | 130 | - | €1,790 | +€1,790 | |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | -€407 | - | +€407 | |
| Amounts payable | 17/49 | €96,037 | €84,241 | -€11,796 | -12.3% |
| Amounts payable after more than one year | 17 | €65,545 | €56,000 | -€9,545 | -14.6% |
| Financial debts | 170/4 | €9,545 | - | -€9,545 | |
| Other amounts payable | 178/9 | €56,000 | €56,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €30,493 | €26,001 | -€4,492 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €12,495 | €9,533 | -€2,962 | -23.7% |
| Trade debts | 44 | €7,426 | €2,767 | -€4,659 | -62.7% |
| Suppliers | 440/4 | €7,426 | €2,767 | -€4,659 | -62.7% |
| Taxes, remuneration and social security | 45 | €5,636 | €12,417 | +€6,781 | +120% |
| Taxes | 450/3 | €5,636 | €12,417 | +€6,781 | +120% |
| Other amounts payable | 47/48 | €4,936 | €1,285 | -€3,652 | -74.0% |
| Accrued charges and deferred income | 492/3 | - | €2,240 | +€2,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,410 | €4,410 | = | 0.0% |
| Other operating charges | 640/8 | €616 | €634 | +€18 | +2.9% |
| Gross operating margin | 9900 | €31,300 | €34,605 | +€3,305 | +10.6% |
| Operating profit (loss) | 9901 | €26,273 | €29,561 | +€3,287 | +12.5% |
| Financial charges | 65/66B | €1,024 | €2,921 | +€1,896 | +185% |
| Recurring financial charges | 65 | €1,024 | €2,921 | +€1,896 | +185% |
| Profit (loss) for the period before taxes | 9903 | €25,249 | €26,640 | +€1,391 | +5.5% |
| Income taxes | 67/77 | €6,405 | €8,609 | +€2,205 | +34.4% |
| Profit (loss) for the period | 9904 | €18,844 | €18,031 | -€813 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,844 | €18,031 | -€813 | -4.3% |
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 26 October 2026 via checked.be.