K.V.S. group: 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.S. group
Largest movements
- Tangible fixed assets -€37,154
down €37,154 (-8.3%), from €449,845 to €412,691
of which Land and buildings: -€19,560
- Cash -€11,775
down €11,775 (-70.0%), from €16,830 to €5,055
mainly Net result for the year (-€161,418) and Deferred charges and accrued income (-€1,475)
- Profit (loss) carried forward -€161,418
down €161,418, from €52,880 to -€108,538
- Debts after one year +€107,082
new in 2025: €107,082
- Revaluation surpluses -€4,923
down €4,923 (-5.9%), from €83,951 to €79,028
- Reserves +€4,923
up €4,923 (+1.7%), from €297,905 to €302,829
- Gross operating margin -€4,626
down €4,626 (-15.1%), from €30,584 to €25,957
- Financial charges +€4,584
up €4,584 (+668%), from €687 to €5,270
- Depreciation -€792
down €792 (-2.1%), from €37,946 to €37,154
- Other operating charges +€455
up €455 (+3.1%), from €14,496 to €14,951
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 | €467,678 | €420,224 | -€47,454 | -10.1% |
| Fixed assets | 21/28 | €449,845 | €412,691 | -€37,154 | -8.3% |
| Tangible fixed assets | 22/27 | €449,845 | €412,691 | -€37,154 | -8.3% |
| Land and buildings | 22 | €369,135 | €349,575 | -€19,560 | -5.3% |
| Plant, machinery and equipment | 23 | €80,710 | €63,117 | -€17,594 | -21.8% |
| Current assets | 29/58 | €17,832 | €7,533 | -€10,300 | -57.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,830 | €5,055 | -€11,775 | -70.0% |
| Deferred charges and accrued income | 490/1 | €1,002 | €2,478 | +€1,475 | +147% |
| Total equity and liabilities | 10/49 | €467,678 | €420,224 | -€47,454 | -10.1% |
| Equity | 10/15 | €453,328 | €291,910 | -€161,418 | -35.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €83,951 | €79,028 | -€4,923 | -5.9% |
| Reserves | 13 | €297,905 | €302,829 | +€4,923 | +1.7% |
| Distributable reserves | 133 | €297,905 | €302,829 | +€4,923 | +1.7% |
| Profit (loss) carried forward | 14 | €52,880 | -€108,538 | -€161,418 | |
| Amounts payable | 17/49 | €14,350 | €128,314 | +€113,964 | +794% |
| Amounts payable after more than one year | 17 | - | €107,082 | +€107,082 | |
| Financial debts | 170/4 | - | €107,082 | +€107,082 | |
| Amounts payable within one year | 42/48 | €14,350 | €19,867 | +€5,517 | +38.4% |
| Trade debts | 44 | €3,609 | €5,513 | +€1,904 | +52.8% |
| Suppliers | 440/4 | €3,609 | €5,513 | +€1,904 | +52.8% |
| Taxes, remuneration and social security | 45 | - | €1,381 | +€1,381 | |
| Taxes | 450/3 | - | €1,381 | +€1,381 | |
| Other amounts payable | 47/48 | €10,741 | €12,974 | +€2,232 | +20.8% |
| Accrued charges and deferred income | 492/3 | €0 | €1,365 | +€1,365 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,946 | €37,154 | -€792 | -2.1% |
| Other operating charges | 640/8 | €14,496 | €14,951 | +€455 | +3.1% |
| Non-recurring operating charges | 66A | - | €130,000 | +€130,000 | |
| Gross operating margin | 9900 | €30,584 | €25,957 | -€4,626 | -15.1% |
| Operating profit (loss) | 9901 | -€21,858 | -€156,148 | -€134,290 | -614% |
| Financial charges | 65/66B | €687 | €5,270 | +€4,584 | +668% |
| Recurring financial charges | 65 | €687 | €5,270 | +€4,584 | +668% |
| Profit (loss) for the period before taxes | 9903 | -€22,545 | -€161,418 | -€138,873 | -616% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€22,545 | -€161,418 | -€138,873 | -616% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,545 | -€161,418 | -€138,873 | -616% |
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 29 October 2026 via checked.be.