KT VM: 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.
KT VM
Largest movements
- Financial fixed assets -€726,250
down €726,250 (-100.0%), from €726,250 to €0
- Cash +€557,990
up €557,990 (+435.7%), from €128,059 to €686,049
mainly Investment in fixed assets (net) (+€685,891) and Net result for the year (+€430,343)
- Receivables within one year +€201,044
up €201,044 (+980.3%), from €20,508 to €221,552
of which Other amounts receivable: +€200,000
- Tangible fixed assets +€31,814
up €31,814 (+18.4%), from €173,263 to €205,077
of which Furniture and vehicles: +€38,302
- Debts after one year -€90,000
down €90,000 (-100.0%), from €90,000 to €0
- Reserves +€79,598
up €79,598 (+11.2%), from €710,394 to €789,992
of which Distributable reserves: +€81,598
- Other debts +€55,445
up €55,445 (+27.6%), from €200,766 to €256,210
- Tax, wage and social debts +€18,680
up €18,680 (+77.7%), from €24,056 to €42,735
of which Taxes: +€21,872
- Financial income +€373,916
new in 2025: €373,916
of which Non-recurring financial income: +€373,750
- Gross operating margin +€140,740
up €140,740, from -€10,404 to €130,337
- Taxes +€52,206
up €52,206 (+575.3%), from €9,075 to €61,281
- Depreciation +€5,711
up €5,711 (+201.6%), from €2,833 to €8,544
- Other operating charges +€2,010
up €2,010 (+3382.1%), from €59 to €2,069
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 | €1,048,079 | €1,114,013 | +€65,934 | +6.3% |
| Fixed assets | 21/28 | €899,512 | €205,077 | -€694,436 | -77.2% |
| Tangible fixed assets | 22/27 | €173,263 | €205,077 | +€31,814 | +18.4% |
| Land and buildings | 22 | €173,263 | €166,775 | -€6,488 | -3.7% |
| Furniture and vehicles | 24 | - | €38,302 | +€38,302 | |
| Financial fixed assets | 28 | €726,250 | €0 | -€726,250 | -100.0% |
| Current assets | 29/58 | €148,567 | €908,936 | +€760,370 | +511.8% |
| Amounts receivable within one year | 40/41 | €20,508 | €221,552 | +€201,044 | +980.3% |
| Trade receivables | 40 | €12,508 | €13,552 | +€1,044 | +8.3% |
| Other amounts receivable | 41 | €8,000 | €208,000 | +€200,000 | +2500.0% |
| Cash at bank and in hand | 54/58 | €128,059 | €686,049 | +€557,990 | +435.7% |
| Deferred charges and accrued income | 490/1 | - | €1,336 | +€1,336 | |
| Total equity and liabilities | 10/49 | €1,048,079 | €1,114,013 | +€65,934 | +6.3% |
| Equity | 10/15 | €730,394 | €809,992 | +€79,598 | +10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €710,394 | €789,992 | +€79,598 | +11.2% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100.0% |
| Distributable reserves | 133 | €708,394 | €789,992 | +€81,598 | +11.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €317,685 | €304,021 | -€13,664 | -4.3% |
| Amounts payable after more than one year | 17 | €90,000 | €0 | -€90,000 | -100.0% |
| Financial debts | 170/4 | €90,000 | €0 | -€90,000 | -100.0% |
| Amounts payable within one year | 42/48 | €227,685 | €304,021 | +€76,336 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €2,667 | €2,693 | +€26 | +1.0% |
| Trade debts | 44 | €197 | €2,382 | +€2,186 | +1110.9% |
| Suppliers | 440/4 | €197 | €2,382 | +€2,186 | +1110.9% |
| Taxes, remuneration and social security | 45 | €24,056 | €42,735 | +€18,680 | +77.7% |
| Taxes | 450/3 | €20,863 | €42,735 | +€21,872 | +104.8% |
| Remuneration and social security | 454/9 | €3,192 | €0 | -€3,192 | -100.0% |
| Other amounts payable | 47/48 | €200,766 | €256,210 | +€55,445 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,833 | €8,544 | +€5,711 | +201.6% |
| Other operating charges | 640/8 | €59 | €2,069 | +€2,010 | +3382.1% |
| Non-recurring operating charges | 66A | €3,654 | €0 | -€3,654 | -100.0% |
| Gross operating margin | 9900 | -€10,404 | €130,337 | +€140,740 | |
| Operating profit (loss) | 9901 | -€16,951 | €119,724 | +€136,674 | |
| Financial income | 75/76B | - | €373,916 | +€373,916 | |
| Recurring financial income | 75 | - | €166 | +€166 | |
| Non-recurring financial income | 76B | - | €373,750 | +€373,750 | |
| Financial charges | 65/66B | €1,318 | €2,016 | +€698 | +53.0% |
| Recurring financial charges | 65 | €1,318 | €2,016 | +€698 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,269 | €491,624 | +€509,892 | |
| Income taxes | 67/77 | €9,075 | €61,281 | +€52,206 | +575.3% |
| Profit (loss) for the period | 9904 | -€27,343 | €430,343 | +€457,686 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,343 | €430,343 | +€457,686 |
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 6 October 2026 via checked.be.