KV CONSULTANTS: what changed
KV CONSULTANTS
Largest movements
- Stocks and contracts +€123,541
new in 2025: €123,541
- Cash -€97,692
down €97,692 (-45.5%), from €214,845 to €117,153
mainly Stocks and contracts (-€123,541) and Contributions, distributions and other (-€25,000)
- Receivables within one year -€11,618
down €11,618 (-59.5%), from €19,513 to €7,895
of which Other amounts receivable: -€7,433
- Tangible fixed assets -€10,549
down €10,549 (-10.1%), from €104,654 to €94,105
of which Assets under construction and advance payments: -€48,981
- Trade debts +€37,356
up €37,356 (+1,220%), from €3,061 to €40,417
- Reserves -€25,000
down €25,000 (-11.8%), from €211,360 to €186,360
- Current portion of long-term debt -€18,238
no longer reported in 2025 (was €18,238)
- Tax, wage and social debts +€12,981
up €12,981 (+5,571%), from €233 to €13,214
- Gross operating margin -€88,026
down €88,026 (-81.0%), from €108,653 to €20,627
- Taxes -€19,750
down €19,750 (-83.7%), from €23,587 to €3,837
- Financial income -€13,933
down €13,933 (-93.4%), from €14,918 to €985
of which Non-recurring financial income: -€13,698
- Depreciation +€4,586
up €4,586 (+33.5%), from €13,670 to €18,256
- Financial charges -€1,781
down €1,781 (-51.9%), from €3,429 to €1,648
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 | €339,342 | €342,694 | +€3,352 | +1.0% |
| Fixed assets | 21/28 | €104,654 | €94,105 | -€10,549 | -10.1% |
| Tangible fixed assets | 22/27 | €104,654 | €94,105 | -€10,549 | -10.1% |
| Plant, machinery and equipment | 23 | €4,492 | €12,350 | +€7,858 | +175% |
| Furniture and vehicles | 24 | €51,181 | €47,550 | -€3,631 | -7.1% |
| Other tangible fixed assets | 26 | - | €34,205 | +€34,205 | |
| Assets under construction and advance payments | 27 | €48,981 | - | -€48,981 | |
| Current assets | 29/58 | €234,688 | €248,589 | +€13,901 | +5.9% |
| Stocks and contracts in progress | 3 | - | €123,541 | +€123,541 | |
| Contracts in progress | 37 | - | €123,541 | +€123,541 | |
| Amounts receivable within one year | 40/41 | €19,513 | €7,895 | -€11,618 | -59.5% |
| Trade receivables | 40 | €10,792 | €6,607 | -€4,185 | -38.8% |
| Other amounts receivable | 41 | €8,721 | €1,288 | -€7,433 | -85.2% |
| Cash at bank and in hand | 54/58 | €214,845 | €117,153 | -€97,692 | -45.5% |
| Deferred charges and accrued income | 490/1 | €330 | - | -€330 | |
| Total equity and liabilities | 10/49 | €339,342 | €342,694 | +€3,352 | +1.0% |
| Equity | 10/15 | €316,977 | €289,063 | -€27,914 | -8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €211,360 | €186,360 | -€25,000 | -11.8% |
| Distributable reserves | 133 | €211,360 | €186,360 | -€25,000 | -11.8% |
| Profit (loss) carried forward | 14 | €87,017 | €84,103 | -€2,914 | -3.3% |
| Amounts payable | 17/49 | €22,365 | €53,631 | +€31,266 | +140% |
| Amounts payable within one year | 42/48 | €22,365 | €53,631 | +€31,266 | +140% |
| Current portion of amounts payable after more than one year | 42 | €18,238 | - | -€18,238 | |
| Trade debts | 44 | €3,061 | €40,417 | +€37,356 | +1,220% |
| Suppliers | 440/4 | €3,061 | €40,417 | +€37,356 | +1,220% |
| Taxes, remuneration and social security | 45 | €233 | €13,214 | +€12,981 | +5,571% |
| Taxes | 450/3 | €233 | €13,214 | +€12,981 | +5,571% |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Non-recurring operating income | 76A | - | €4,285 | +€4,285 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,670 | €18,256 | +€4,586 | +33.5% |
| Other operating charges | 640/8 | €873 | €785 | -€88 | -10.1% |
| Gross operating margin | 9900 | €108,653 | €20,627 | -€88,026 | -81.0% |
| Operating profit (loss) | 9901 | €94,110 | €1,586 | -€92,524 | -98.3% |
| Financial income | 75/76B | €14,918 | €985 | -€13,933 | -93.4% |
| Recurring financial income | 75 | €1,220 | €985 | -€235 | -19.3% |
| Non-recurring financial income | 76B | €13,698 | - | -€13,698 | |
| Financial charges | 65/66B | €3,429 | €1,648 | -€1,781 | -51.9% |
| Recurring financial charges | 65 | €3,429 | €1,648 | -€1,781 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €105,599 | €923 | -€104,676 | -99.1% |
| Income taxes | 67/77 | €23,587 | €3,837 | -€19,750 | -83.7% |
| Profit (loss) for the period | 9904 | €82,012 | -€2,914 | -€84,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,012 | -€2,914 | -€84,926 |
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.