Kevin Overdulve: 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.
Kevin Overdulve
Largest movements
- Tangible fixed assets +€339,743
up €339,743 (+2,234%), from €15,208 to €354,951
of which Land and buildings: +€338,082
- Cash +€114,051
up €114,051 (+198%), from €57,552 to €171,603
mainly Debts after one year (+€398,788) and Net result for the year (+€109,954)
- Receivables after one year -€42,240
no longer reported in 2025 (was €42,240)
- Receivables within one year +€27,884
up €27,884 (+7.2%), from €385,361 to €413,245
of which Other amounts receivable: +€23,501
- Debts after one year +€398,788
up €398,788 (+266%), from €150,000 to €548,788
- Other debts +€69,307
up €69,307 (+39.9%), from €173,833 to €243,141
- Tax, wage and social debts -€34,215
down €34,215 (-98.0%), from €34,913 to €698
- Current portion of long-term debt +€17,291
new in 2025: €17,291
- Gross operating margin +€41,783
up €41,783 (+25.0%), from €167,104 to €208,887
- Other operating charges +€40,625
up €40,625 (+8,233%), from €493 to €41,119
- Taxes -€9,215
down €9,215 (-26.4%), from €34,913 to €25,698
- Depreciation +€8,418
up €8,418 (+241%), from €3,490 to €11,908
- Financial charges +€5,839
up €5,839 (+26.2%), from €22,301 to €28,140
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 | €508,148 | €951,396 | +€443,248 | +87.2% |
| Fixed assets | 21/28 | €15,208 | €354,951 | +€339,743 | +2,234% |
| Tangible fixed assets | 22/27 | €15,208 | €354,951 | +€339,743 | +2,234% |
| Land and buildings | 22 | - | €338,082 | +€338,082 | |
| Plant, machinery and equipment | 23 | €616 | €2,999 | +€2,382 | +386% |
| Furniture and vehicles | 24 | €13,033 | €12,486 | -€547 | -4.2% |
| Other tangible fixed assets | 26 | €1,558 | €1,384 | -€175 | -11.2% |
| Current assets | 29/58 | €492,940 | €596,445 | +€103,505 | +21.0% |
| Amounts receivable after more than one year | 29 | €42,240 | - | -€42,240 | |
| Other amounts receivable | 291 | €42,240 | - | -€42,240 | |
| Amounts receivable within one year | 40/41 | €385,361 | €413,245 | +€27,884 | +7.2% |
| Trade receivables | 40 | €237 | €4,620 | +€4,383 | +1,850% |
| Other amounts receivable | 41 | €385,124 | €408,625 | +€23,501 | +6.1% |
| Cash at bank and in hand | 54/58 | €57,552 | €171,603 | +€114,051 | +198% |
| Deferred charges and accrued income | 490/1 | €7,788 | €11,597 | +€3,810 | +48.9% |
| Total equity and liabilities | 10/49 | €508,148 | €951,396 | +€443,248 | +87.2% |
| Equity | 10/15 | €133,040 | €124,954 | -€8,086 | -6.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,040 | €109,954 | -€8,086 | -6.8% |
| Amounts payable | 17/49 | €375,108 | €826,442 | +€451,334 | +120% |
| Amounts payable after more than one year | 17 | €150,000 | €548,788 | +€398,788 | +266% |
| Financial debts | 170/4 | €150,000 | €548,788 | +€398,788 | +266% |
| Amounts payable within one year | 42/48 | €215,129 | €267,135 | +€52,006 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | - | €17,291 | +€17,291 | |
| Trade debts | 44 | €6,383 | €6,005 | -€378 | -5.9% |
| Suppliers | 440/4 | €6,383 | €6,005 | -€378 | -5.9% |
| Taxes, remuneration and social security | 45 | €34,913 | €698 | -€34,215 | -98.0% |
| Taxes | 450/3 | €34,913 | €698 | -€34,215 | -98.0% |
| Other amounts payable | 47/48 | €173,833 | €243,141 | +€69,307 | +39.9% |
| Accrued charges and deferred income | 492/3 | €9,979 | €10,519 | +€539 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,490 | €11,908 | +€8,418 | +241% |
| Other operating charges | 640/8 | €493 | €41,119 | +€40,625 | +8,233% |
| Gross operating margin | 9900 | €167,104 | €208,887 | +€41,783 | +25.0% |
| Operating profit (loss) | 9901 | €163,120 | €155,860 | -€7,260 | -4.5% |
| Financial income | 75/76B | €8,707 | €7,932 | -€775 | -8.9% |
| Recurring financial income | 75 | €8,707 | €7,932 | -€775 | -8.9% |
| Financial charges | 65/66B | €22,301 | €28,140 | +€5,839 | +26.2% |
| Recurring financial charges | 65 | €22,301 | €28,140 | +€5,839 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €149,526 | €135,652 | -€13,874 | -9.3% |
| Income taxes | 67/77 | €34,913 | €25,698 | -€9,215 | -26.4% |
| Profit (loss) for the period | 9904 | €114,613 | €109,954 | -€4,659 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €114,613 | €109,954 | -€4,659 | -4.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.