KIRVEM: 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.
KIRVEM
Largest movements
- Receivables within one year +€11,489
up €11,489 (+128%), from €9,003 to €20,492
of which Trade receivables: +€12,224
- Cash -€7,510
down €7,510 (-20.9%), from €35,891 to €28,381
mainly Net result for the year (-€11,987) and Receivables within one year (-€11,489)
- Tangible fixed assets +€2,193
up €2,193 (+8.3%), from €26,400 to €28,593
of which Plant, machinery and equipment: +€7,008
- Trade debts +€14,953
up €14,953 (+168%), from €8,901 to €23,854
- Reserves -€11,987
down €11,987 (-63.4%), from €18,905 to €6,917
- Debts after one year +€4,223
up €4,223, from €0 to €4,223
- Other debts -€3,896
down €3,896 (-48.9%), from €7,970 to €4,074
- Current portion of long-term debt +€3,253
up €3,253 (+67.9%), from €4,792 to €8,044
- Staff costs +€30,981
up €30,981 (+23.3%), from €132,875 to €163,855
- Gross operating margin +€6,303
up €6,303 (+3.7%), from €169,506 to €175,809
- Taxes -€2,550
down €2,550 (-100%), from €2,550 to €0
- Other operating charges -€2,011
down €2,011 (-39.6%), from €5,077 to €3,066
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 | €77,274 | €83,534 | +€6,260 | +8.1% |
| Fixed assets | 21/28 | €26,400 | €28,593 | +€2,193 | +8.3% |
| Tangible fixed assets | 22/27 | €26,400 | €28,593 | +€2,193 | +8.3% |
| Plant, machinery and equipment | 23 | €14,494 | €21,502 | +€7,008 | +48.4% |
| Furniture and vehicles | 24 | €11,906 | €7,091 | -€4,815 | -40.4% |
| Current assets | 29/58 | €50,874 | €54,941 | +€4,067 | +8.0% |
| Stocks and contracts in progress | 3 | €4,732 | €5,451 | +€719 | +15.2% |
| Stocks | 30/36 | €4,732 | €5,451 | +€719 | +15.2% |
| Amounts receivable within one year | 40/41 | €9,003 | €20,492 | +€11,489 | +128% |
| Trade receivables | 40 | €2,633 | €14,857 | +€12,224 | +464% |
| Other amounts receivable | 41 | €6,371 | €5,635 | -€735 | -11.5% |
| Cash at bank and in hand | 54/58 | €35,891 | €28,381 | -€7,510 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,247 | €616 | -€631 | -50.6% |
| Total equity and liabilities | 10/49 | €77,274 | €83,534 | +€6,260 | +8.1% |
| Equity | 10/15 | €37,505 | €25,517 | -€11,987 | -32.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,905 | €6,917 | -€11,987 | -63.4% |
| Distributable reserves | 133 | €18,905 | €6,917 | -€11,987 | -63.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,770 | €58,017 | +€18,248 | +45.9% |
| Amounts payable after more than one year | 17 | €0 | €4,223 | +€4,223 | |
| Financial debts | 170/4 | €0 | €4,223 | +€4,223 | |
| Amounts payable within one year | 42/48 | €39,770 | €53,794 | +€14,024 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | €4,792 | €8,044 | +€3,253 | +67.9% |
| Trade debts | 44 | €8,901 | €23,854 | +€14,953 | +168% |
| Suppliers | 440/4 | €8,901 | €23,854 | +€14,953 | +168% |
| Taxes, remuneration and social security | 45 | €18,107 | €17,822 | -€285 | -1.6% |
| Taxes | 450/3 | €1,653 | €2,339 | +€686 | +41.5% |
| Remuneration and social security | 454/9 | €16,454 | €15,483 | -€971 | -5.9% |
| Other amounts payable | 47/48 | €7,970 | €4,074 | -€3,896 | -48.9% |
| Non-recurring operating income | 76A | - | €4,314 | +€4,314 | |
| Remuneration, social security and pensions | 62 | €132,875 | €163,855 | +€30,981 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,593 | €8,807 | +€214 | +2.5% |
| Other operating charges | 640/8 | €5,077 | €3,066 | -€2,011 | -39.6% |
| Non-recurring operating charges | 66A | €3,880 | €5,289 | +€1,409 | +36.3% |
| Gross operating margin | 9900 | €169,506 | €175,809 | +€6,303 | +3.7% |
| Operating profit (loss) | 9901 | €19,081 | -€5,209 | -€24,289 | |
| Financial income | 75/76B | €417 | €215 | -€201 | -48.3% |
| Recurring financial income | 75 | €417 | €215 | -€201 | -48.3% |
| Financial charges | 65/66B | €6,812 | €6,994 | +€183 | +2.7% |
| Recurring financial charges | 65 | €6,812 | €6,994 | +€183 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €12,686 | -€11,987 | -€24,673 | |
| Income taxes | 67/77 | €2,550 | €0 | -€2,550 | -100% |
| Profit (loss) for the period | 9904 | €10,136 | -€11,987 | -€22,124 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,136 | -€11,987 | -€22,124 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.