KDV Piepss: what changed
KDV Piepss
Largest movements
- Tangible fixed assets +€361,215
up €361,215 (+2,896%), from €12,472 to €373,687
of which Land and buildings: +€362,663
- Cash -€15,510
down €15,510 (-41.6%), from €37,309 to €21,799
mainly Investment in fixed assets (net) (-€371,488) and Contributions, distributions and other (-€12,501)
- Receivables within one year +€5,290
new in 2025: €5,290
- Financial fixed assets -€5,145
no longer reported in 2025 (was €5,145)
- Debts after one year +€280,683
new in 2025: €280,683
of which Financial debts: +€276,633
- Tax, wage and social debts +€28,456
new in 2025: €28,456
- Trade debts +€18,454
up €18,454 (+153,784%), from €12 to €18,466
- Current portion of long-term debt +€14,658
new in 2025: €14,658
- Profit (loss) carried forward +€4,985
up €4,985 (+87.9%), from €5,668 to €10,653
- Gross operating margin +€133,939
up €133,939 (+120%), from €111,833 to €245,772
- Staff costs +€127,560
up €127,560 (+161%), from €79,103 to €206,663
- Depreciation +€13,654
up €13,654 (+774%), from €1,764 to €15,418
- Financial charges +€4,716
up €4,716 (+8,899%), from €53 to €4,769
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 | €54,926 | €401,627 | +€346,701 | +631% |
| Fixed assets | 21/28 | €17,617 | €373,687 | +€356,070 | +2,021% |
| Tangible fixed assets | 22/27 | €12,472 | €373,687 | +€361,215 | +2,896% |
| Land and buildings | 22 | - | €362,663 | +€362,663 | |
| Plant, machinery and equipment | 23 | €12,472 | €9,540 | -€2,932 | -23.5% |
| Furniture and vehicles | 24 | - | €1,485 | +€1,485 | |
| Financial fixed assets | 28 | €5,145 | - | -€5,145 | |
| Current assets | 29/58 | €37,309 | €27,939 | -€9,370 | -25.1% |
| Amounts receivable within one year | 40/41 | - | €5,290 | +€5,290 | |
| Trade receivables | 40 | - | €5,290 | +€5,290 | |
| Cash at bank and in hand | 54/58 | €37,309 | €21,799 | -€15,510 | -41.6% |
| Deferred charges and accrued income | 490/1 | - | €851 | +€851 | |
| Total equity and liabilities | 10/49 | €54,926 | €401,627 | +€346,701 | +631% |
| Equity | 10/15 | €7,668 | €12,653 | +€4,985 | +65.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €2,000 | +€2,000 | |
| Other | 1109/19 | - | €2,000 | +€2,000 | |
| Profit (loss) carried forward | 14 | €5,668 | €10,653 | +€4,985 | +87.9% |
| Amounts payable | 17/49 | €47,258 | €388,974 | +€341,716 | +723% |
| Amounts payable after more than one year | 17 | - | €280,683 | +€280,683 | |
| Financial debts | 170/4 | - | €276,633 | +€276,633 | |
| Other amounts payable | 178/9 | - | €4,050 | +€4,050 | |
| Amounts payable within one year | 42/48 | €47,258 | €108,290 | +€61,032 | +129% |
| Current portion of amounts payable after more than one year | 42 | - | €14,658 | +€14,658 | |
| Trade debts | 44 | €12 | €18,466 | +€18,454 | +153,784% |
| Suppliers | 440/4 | €12 | €18,466 | +€18,454 | +153,784% |
| Taxes, remuneration and social security | 45 | - | €28,456 | +€28,456 | |
| Remuneration and social security | 454/9 | - | €28,456 | +€28,456 | |
| Other amounts payable | 47/48 | €47,246 | €46,710 | -€536 | -1.1% |
| Remuneration, social security and pensions | 62 | €79,103 | €206,663 | +€127,560 | +161% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,764 | €15,418 | +€13,654 | +774% |
| Other operating charges | 640/8 | - | €1,436 | +€1,436 | |
| Gross operating margin | 9900 | €111,833 | €245,772 | +€133,939 | +120% |
| Operating profit (loss) | 9901 | €30,966 | €22,255 | -€8,711 | -28.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53 | €4,769 | +€4,716 | +8,899% |
| Recurring financial charges | 65 | €53 | €4,769 | +€4,716 | +8,899% |
| Profit (loss) for the period before taxes | 9903 | €30,913 | €17,486 | -€13,427 | -43.4% |
| Profit (loss) for the period | 9904 | €30,913 | €17,486 | -€13,427 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,913 | €17,486 | -€13,427 | -43.4% |
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 2 November 2026 via checked.be.