K.V. SELECT: 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. SELECT
Largest movements
- Receivables within one year +€51,326
up €51,326 (+34.5%), from €148,786 to €200,112
of which Trade receivables: +€47,795
- Cash -€38,753
down €38,753 (-7.6%), from €512,513 to €473,760
mainly Receivables within one year (-€51,326) and Investment in fixed assets (net) (-€26,134)
- Current investments +€21,978
up €21,978 (+2.7%), from €801,810 to €823,788
- Other debts +€30,455
up €30,455 (+3.7%), from €817,905 to €848,359
- Financial income +€13,064
up €13,064 (+146%), from €8,941 to €22,005
of which Financial income: +€20,064
- Gross operating margin +€9,602
up €9,602 (+23.6%), from €40,642 to €50,243
- Depreciation +€5,888
up €5,888 (+25.2%), from €23,355 to €29,243
- Taxes -€3,016
down €3,016 (-587%), from -€514 to -€3,530
- Financial charges -€1,980
down €1,980 (-3.3%), from €59,870 to €57,889
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 | €1,656,154 | €1,687,596 | +€31,442 | +1.9% |
| Fixed assets | 21/28 | €193,045 | €189,935 | -€3,109 | -1.6% |
| Tangible fixed assets | 22/27 | €160,090 | €156,980 | -€3,109 | -1.9% |
| Land and buildings | 22 | €51,349 | €49,385 | -€1,964 | -3.8% |
| Furniture and vehicles | 24 | €86,080 | €72,896 | -€13,184 | -15.3% |
| Other tangible fixed assets | 26 | €22,661 | €34,700 | +€12,039 | +53.1% |
| Financial fixed assets | 28 | €32,955 | €32,955 | = | 0.0% |
| Current assets | 29/58 | €1,463,109 | €1,497,660 | +€34,551 | +2.4% |
| Amounts receivable within one year | 40/41 | €148,786 | €200,112 | +€51,326 | +34.5% |
| Trade receivables | 40 | €133,100 | €180,895 | +€47,795 | +35.9% |
| Other amounts receivable | 41 | €15,686 | €19,217 | +€3,531 | +22.5% |
| Current investments | 50/53 | €801,810 | €823,788 | +€21,978 | +2.7% |
| Cash at bank and in hand | 54/58 | €512,513 | €473,760 | -€38,753 | -7.6% |
| Total equity and liabilities | 10/49 | €1,656,154 | €1,687,596 | +€31,442 | +1.9% |
| Equity | 10/15 | €811,682 | €798,718 | -€12,964 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,860 | €328,860 | = | 0.0% |
| Distributable reserves | 133 | €328,860 | €328,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €464,222 | €451,258 | -€12,964 | -2.8% |
| Amounts payable | 17/49 | €844,472 | €888,878 | +€44,405 | +5.3% |
| Amounts payable within one year | 42/48 | €844,472 | €888,878 | +€44,405 | +5.3% |
| Trade debts | 44 | €900 | €14,239 | +€13,340 | +1,483% |
| Suppliers | 440/4 | €900 | €14,239 | +€13,340 | +1,483% |
| Taxes, remuneration and social security | 45 | €25,668 | €26,279 | +€611 | +2.4% |
| Taxes | 450/3 | €25,668 | €26,279 | +€611 | +2.4% |
| Other amounts payable | 47/48 | €817,905 | €848,359 | +€30,455 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,355 | €29,243 | +€5,888 | +25.2% |
| Other operating charges | 640/8 | €1,637 | €1,610 | -€27 | -1.6% |
| Gross operating margin | 9900 | €40,642 | €50,243 | +€9,602 | +23.6% |
| Operating profit (loss) | 9901 | €15,650 | €19,390 | +€3,740 | +23.9% |
| Financial income | 75/76B | €8,941 | €22,005 | +€13,064 | +146% |
| Recurring financial income | 75 | €1,941 | €22,005 | +€20,064 | +1,033% |
| Non-recurring financial income | 76B | €7,000 | - | -€7,000 | |
| Financial charges | 65/66B | €59,870 | €57,889 | -€1,980 | -3.3% |
| Recurring financial charges | 65 | €59,870 | €57,889 | -€1,980 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,278 | -€16,494 | +€18,785 | +53.2% |
| Income taxes | 67/77 | -€514 | -€3,530 | -€3,016 | -587% |
| Profit (loss) for the period | 9904 | -€34,764 | -€12,964 | +€21,801 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,764 | -€12,964 | +€21,801 | +62.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.