KDV-services: what changed
Two fiscal 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.
KDV-services
Largest movements
- Tangible fixed assets +€66,180
up €66,180 (+95.3%), from €69,442 to €135,622
of which Furniture and vehicles: +€54,961
- Stocks and contracts +€31,078
up €31,078 (+42.8%), from €72,610 to €103,688
of which Contracts in progress: +€24,978
- Cash -€29,314
down €29,314 (-87.9%), from €33,341 to €4,026
mainly Investment in fixed assets (net) (-€90,442) and Stocks and contracts (-€31,078)
- Receivables within one year +€8,023
up €8,023 (+33.1%), from €24,238 to €32,261
- Debts after one year +€41,713
new in 2025: €41,713
- Reserves +€14,482
up €14,482 (+38.5%), from €37,572 to €52,054
- Current portion of long-term debt +€12,965
new in 2025: €12,965
- Trade debts +€8,316
up €8,316 (+120.1%), from €6,924 to €15,241
- Depreciation +€16,139
up €16,139 (+198.7%), from €8,123 to €24,262
- Gross operating margin -€9,727
down €9,727 (-17.0%), from €57,153 to €47,426
- Taxes -€5,488
down €5,488 (-56.5%), from €9,720 to €4,232
- Financial charges +€3,500
up €3,500 (+1630.1%), from €215 to €3,715
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.
Cash bridge derived
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 | €199,631 | €275,598 | +€75,967 | +38.1% |
| Fixed assets | 21/28 | €69,442 | €135,622 | +€66,180 | +95.3% |
| Tangible fixed assets | 22/27 | €69,442 | €135,622 | +€66,180 | +95.3% |
| Land and buildings | 22 | €10,246 | €21,046 | +€10,801 | +105.4% |
| Plant, machinery and equipment | 23 | €49,482 | €49,901 | +€419 | +0.8% |
| Furniture and vehicles | 24 | €9,714 | €64,675 | +€54,961 | +565.8% |
| Current assets | 29/58 | €130,189 | €139,976 | +€9,787 | +7.5% |
| Stocks and contracts in progress | 3 | €72,610 | €103,688 | +€31,078 | +42.8% |
| Stocks | 30/36 | €58,730 | €64,831 | +€6,101 | +10.4% |
| Contracts in progress | 37 | €13,880 | €38,858 | +€24,978 | +180.0% |
| Amounts receivable within one year | 40/41 | €24,238 | €32,261 | +€8,023 | +33.1% |
| Trade receivables | 40 | €24,238 | €32,261 | +€8,023 | +33.1% |
| Cash at bank and in hand | 54/58 | €33,341 | €4,026 | -€29,314 | -87.9% |
| Total equity and liabilities | 10/49 | €199,631 | €275,598 | +€75,967 | +38.1% |
| Equity | 10/15 | €40,572 | €55,054 | +€14,482 | +35.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,572 | €52,054 | +€14,482 | +38.5% |
| Distributable reserves | 133 | €37,572 | €52,054 | +€14,482 | +38.5% |
| Amounts payable | 17/49 | €159,058 | €220,544 | +€61,485 | +38.7% |
| Amounts payable after more than one year | 17 | - | €41,713 | +€41,713 | |
| Financial debts | 170/4 | - | €41,713 | +€41,713 | |
| Amounts payable within one year | 42/48 | €159,058 | €178,831 | +€19,772 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | - | €12,965 | +€12,965 | |
| Trade debts | 44 | €6,924 | €15,241 | +€8,316 | +120.1% |
| Suppliers | 440/4 | €6,924 | €15,241 | +€8,316 | +120.1% |
| Taxes, remuneration and social security | 45 | €16,316 | €17,535 | +€1,219 | +7.5% |
| Taxes | 450/3 | €16,316 | €17,535 | +€1,219 | +7.5% |
| Other amounts payable | 47/48 | €135,818 | €133,090 | -€2,728 | -2.0% |
| Remuneration, social security and pensions | 62 | €514 | €209 | -€305 | -59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,123 | €24,262 | +€16,139 | +198.7% |
| Other operating charges | 640/8 | €1,319 | €821 | -€498 | -37.8% |
| Gross operating margin | 9900 | €57,153 | €47,426 | -€9,727 | -17.0% |
| Operating profit (loss) | 9901 | €47,197 | €22,134 | -€25,063 | -53.1% |
| Financial income | 75/76B | €310 | €294 | -€16 | -5.1% |
| Recurring financial income | 75 | €310 | €294 | -€16 | -5.1% |
| Financial charges | 65/66B | €215 | €3,715 | +€3,500 | +1630.1% |
| Recurring financial charges | 65 | €215 | €3,715 | +€3,500 | +1630.1% |
| Profit (loss) for the period before taxes | 9903 | €47,292 | €18,713 | -€28,579 | -60.4% |
| Income taxes | 67/77 | €9,720 | €4,232 | -€5,488 | -56.5% |
| Profit (loss) for the period | 9904 | €37,572 | €14,482 | -€23,091 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,572 | €14,482 | -€23,091 | -61.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.