KV Advice: 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.
KV Advice
Largest movements
- Receivables within one year +€390,180
up €390,180 (+90.7%), from €430,276 to €820,456
of which Trade receivables: +€369,677
- Cash +€80,422
up €80,422 (+93.2%), from €86,318 to €166,740
mainly Current portion of long-term debt (+€342,627) and Net result for the year (+€314,921)
- Tangible fixed assets -€38,082
down €38,082 (-5.9%), from €647,780 to €609,698
of which Land and buildings: -€35,121
- Current portion of long-term debt +€342,627
up €342,627 (+1,120%), from €30,599 to €373,226
- Reserves +€314,921
up €314,921 (+67.7%), from €465,430 to €780,351
- Other debts -€193,580
down €193,580 (-63.2%), from €306,418 to €112,838
- Tax, wage and social debts -€24,880
down €24,880 (-35.0%), from €71,157 to €46,277
of which Taxes: -€24,880
- Debts after one year -€23,226
down €23,226 (-8.2%), from €282,217 to €258,991
- Gross operating margin -€161,834
down €161,834 (-23.9%), from €676,622 to €514,787
- Taxes -€36,748
down €36,748 (-24.1%), from €152,715 to €115,967
- Other operating charges +€14,874
up €14,874 (+233%), from €6,380 to €21,255
- Financial charges +€14,039
up €14,039 (+175%), from €8,043 to €22,082
- Staff costs -€9,901
down €9,901, from €7,817 to -€2,084
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,225,223 | €1,657,463 | +€432,239 | +35.3% |
| Fixed assets | 21/28 | €681,113 | €643,031 | -€38,082 | -5.6% |
| Tangible fixed assets | 22/27 | €647,780 | €609,698 | -€38,082 | -5.9% |
| Land and buildings | 22 | €533,504 | €498,383 | -€35,121 | -6.6% |
| Plant, machinery and equipment | 23 | €6,207 | €6,428 | +€220 | +3.6% |
| Furniture and vehicles | 24 | €108,069 | €104,887 | -€3,182 | -2.9% |
| Financial fixed assets | 28 | €33,333 | €33,333 | = | 0.0% |
| Current assets | 29/58 | €544,110 | €1,014,432 | +€470,322 | +86.4% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €430,276 | €820,456 | +€390,180 | +90.7% |
| Trade receivables | 40 | €426,839 | €796,516 | +€369,677 | +86.6% |
| Other amounts receivable | 41 | €3,437 | €23,940 | +€20,503 | +597% |
| Cash at bank and in hand | 54/58 | €86,318 | €166,740 | +€80,422 | +93.2% |
| Deferred charges and accrued income | 490/1 | €2,516 | €2,236 | -€281 | -11.2% |
| Total equity and liabilities | 10/49 | €1,225,223 | €1,657,463 | +€432,239 | +35.3% |
| Equity | 10/15 | €483,980 | €798,901 | +€314,921 | +65.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €465,430 | €780,351 | +€314,921 | +67.7% |
| Distributable reserves | 133 | €465,430 | €780,351 | +€314,921 | +67.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €741,244 | €858,562 | +€117,318 | +15.8% |
| Amounts payable after more than one year | 17 | €282,217 | €258,991 | -€23,226 | -8.2% |
| Financial debts | 170/4 | €282,217 | €258,991 | -€23,226 | -8.2% |
| Amounts payable within one year | 42/48 | €459,026 | €587,124 | +€128,098 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €30,599 | €373,226 | +€342,627 | +1,120% |
| Financial debts | 43 | €30,111 | €42,123 | +€12,012 | +39.9% |
| Credit institutions | 430/8 | €30,111 | €42,123 | +€12,012 | +39.9% |
| Trade debts | 44 | €20,741 | €12,660 | -€8,081 | -39.0% |
| Suppliers | 440/4 | €20,741 | €12,660 | -€8,081 | -39.0% |
| Taxes, remuneration and social security | 45 | €71,157 | €46,277 | -€24,880 | -35.0% |
| Taxes | 450/3 | €71,157 | €46,277 | -€24,880 | -35.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €306,418 | €112,838 | -€193,580 | -63.2% |
| Accrued charges and deferred income | 492/3 | - | €12,446 | +€12,446 | |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Remuneration, social security and pensions | 62 | €7,817 | -€2,084 | -€9,901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,603 | €42,646 | +€44 | +0.1% |
| Other operating charges | 640/8 | €6,380 | €21,255 | +€14,874 | +233% |
| Gross operating margin | 9900 | €676,622 | €514,787 | -€161,834 | -23.9% |
| Operating profit (loss) | 9901 | €619,821 | €452,970 | -€166,851 | -26.9% |
| Financial charges | 65/66B | €8,043 | €22,082 | +€14,039 | +175% |
| Recurring financial charges | 65 | €8,043 | €22,082 | +€14,039 | +175% |
| Profit (loss) for the period before taxes | 9903 | €611,778 | €430,889 | -€180,890 | -29.6% |
| Income taxes | 67/77 | €152,715 | €115,967 | -€36,748 | -24.1% |
| Profit (loss) for the period | 9904 | €459,063 | €314,921 | -€144,141 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €459,063 | €314,921 | -€144,141 | -31.4% |
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 26 October 2026 via checked.be.