KEV MANAGEMENT: what changed
KEV MANAGEMENT
Largest movements
- Tangible fixed assets +€38,768
up €38,768 (+17.9%), from €216,391 to €255,159
of which Furniture and vehicles: +€25,916
- Cash +€30,133
up €30,133 (+243%), from €12,401 to €42,534
mainly Other debts (+€101,713) and Net result for the year (+€67,815)
- Receivables within one year -€16,509
down €16,509 (-31.5%), from €52,370 to €35,860
of which Trade receivables: -€16,670
- Other debts +€101,713
new in 2025: €101,713
- Reserves -€51,847
down €51,847 (-100%), from €51,847 to €0
- Trade debts -€28,007
down €28,007 (-96.4%), from €29,038 to €1,031
- Debts after one year +€15,877
up €15,877 (+9.5%), from €167,783 to €183,660
- Tax, wage and social debts +€15,739
up €15,739 (+168%), from €9,358 to €25,097
of which Taxes: +€15,691
- Gross operating margin +€55,675
up €55,675 (+94.7%), from €58,771 to €114,446
- Other operating charges -€19,410
down €19,410 (-93.5%), from €20,758 to €1,348
- Taxes +€12,109
up €12,109 (+241%), from €5,024 to €17,133
- Financial charges +€11,709
up €11,709 (+2,031%), from €576 to €12,286
- Depreciation +€1,961
up €1,961 (+14.1%), from €13,904 to €15,864
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 | €281,588 | €334,877 | +€53,288 | +18.9% |
| Fixed assets | 21/28 | €216,391 | €255,159 | +€38,768 | +17.9% |
| Tangible fixed assets | 22/27 | €216,391 | €255,159 | +€38,768 | +17.9% |
| Land and buildings | 22 | €200,077 | €192,037 | -€8,040 | -4.0% |
| Furniture and vehicles | 24 | - | €25,916 | +€25,916 | |
| Leasing and similar rights | 25 | €16,314 | €37,206 | +€20,892 | +128% |
| Current assets | 29/58 | €65,197 | €79,717 | +€14,520 | +22.3% |
| Amounts receivable within one year | 40/41 | €52,370 | €35,860 | -€16,509 | -31.5% |
| Trade receivables | 40 | €52,164 | €35,494 | -€16,670 | -32.0% |
| Other amounts receivable | 41 | €206 | €367 | +€161 | +77.9% |
| Cash at bank and in hand | 54/58 | €12,401 | €42,534 | +€30,133 | +243% |
| Deferred charges and accrued income | 490/1 | €427 | €1,323 | +€896 | +210% |
| Total equity and liabilities | 10/49 | €281,588 | €334,877 | +€53,288 | +18.9% |
| Equity | 10/15 | €56,847 | €5,000 | -€51,847 | -91.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €51,847 | €0 | -€51,847 | -100% |
| Distributable reserves | 133 | €51,847 | €0 | -€51,847 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €224,741 | €329,877 | +€105,136 | +46.8% |
| Amounts payable after more than one year | 17 | €167,783 | €183,660 | +€15,877 | +9.5% |
| Financial debts | 170/4 | €167,783 | €183,660 | +€15,877 | +9.5% |
| Amounts payable within one year | 42/48 | €56,748 | €145,166 | +€88,419 | +156% |
| Current portion of amounts payable after more than one year | 42 | €18,350 | €17,325 | -€1,025 | -5.6% |
| Financial debts | 43 | €2 | €0 | -€2 | -100% |
| Credit institutions | 430/8 | €2 | €0 | -€2 | -100% |
| Trade debts | 44 | €29,038 | €1,031 | -€28,007 | -96.4% |
| Suppliers | 440/4 | €29,038 | €1,031 | -€28,007 | -96.4% |
| Taxes, remuneration and social security | 45 | €9,358 | €25,097 | +€15,739 | +168% |
| Taxes | 450/3 | €7,406 | €23,097 | +€15,691 | +212% |
| Remuneration and social security | 454/9 | €1,952 | €2,000 | +€48 | +2.5% |
| Other amounts payable | 47/48 | - | €101,713 | +€101,713 | |
| Accrued charges and deferred income | 492/3 | €210 | €1,050 | +€840 | +400% |
| Non-recurring operating income | 76A | - | €32,252 | +€32,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,904 | €15,864 | +€1,961 | +14.1% |
| Other operating charges | 640/8 | €20,758 | €1,348 | -€19,410 | -93.5% |
| Gross operating margin | 9900 | €58,771 | €114,446 | +€55,675 | +94.7% |
| Operating profit (loss) | 9901 | €24,110 | €97,234 | +€73,124 | +303% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €576 | €12,286 | +€11,709 | +2,031% |
| Recurring financial charges | 65 | €576 | €12,286 | +€11,709 | +2,031% |
| Profit (loss) for the period before taxes | 9903 | €23,534 | €84,949 | +€61,415 | +261% |
| Income taxes | 67/77 | €5,024 | €17,133 | +€12,109 | +241% |
| Profit (loss) for the period | 9904 | €18,509 | €67,815 | +€49,306 | +266% |
| Profit (loss) for the period to be appropriated | 9905 | €18,509 | €67,815 | +€49,306 | +266% |
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 7 November 2026 via checked.be.