KVB INVEST: what changed
What changed
KVB INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€75,054
2024 · €67,473+€7,581
Equity
€506,610
2024 · €431,557+€75,054
Cash
€37,483
2024 · €40,217-€2,734
Balance sheet total
€683,782
2024 · €661,734+€22,048
Largest movements
Assets
- Tangible fixed assets +€27,058
up €27,058 (+4.5%), from €595,691 to €622,749
of which Land and buildings: +€25,396
Equity and liabilities
- Reserves +€75,054
up €75,054 (+18.2%), from €412,957 to €488,010
- Other debts -€28,283
down €28,283 (-40.6%), from €69,709 to €41,427
- Trade debts -€23,723
down €23,723 (-79.8%), from €29,742 to €6,018
Income statement
- Gross operating margin +€7,727
up €7,727 (+5.5%), from €139,819 to €147,546
- Depreciation +€7,439
up €7,439 (+31.8%), from €23,392 to €30,831
- Taxes -€6,713
down €6,713 (-17.1%), from €39,329 to €32,616
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.
Result 2024
€67,473
Gross operating margin
+€7,727
Depreciation
-€7,439
Other operating charges
-€575
Financial income
+€21
Financial charges
+€1,134
Taxes
+€6,713
Result 2025
€75,054
raises the resultlowers the result
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.
From operations
+€56,156
Investment
-€58,889
Financing
€0
Cash 2024
€40,217
From operations (derived)
+€56,156
Net result for the year
+€75,054
Depreciation
+€30,831
Receivables within one year
+€4,647
Deferred charges and accrued income
-€1,371
Trade debts
-€23,723
Tax, wage and social debts
+€4,425
Other debts
-€28,283
Accrued charges and deferred income
-€5,425
Investment (derived)
-€58,889
Investment in fixed assets (net)
-€58,889
Cash 2025
€37,483
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €661,734 | €683,782 | +€22,048 | +3.3% |
| Fixed assets | 21/28 | €595,691 | €623,749 | +€28,058 | +4.7% |
| Tangible fixed assets | 22/27 | €595,691 | €622,749 | +€27,058 | +4.5% |
| Land and buildings | 22 | €584,427 | €609,823 | +€25,396 | +4.3% |
| Plant, machinery and equipment | 23 | €863 | €157 | -€706 | -81.8% |
| Furniture and vehicles | 24 | €10,402 | €12,770 | +€2,368 | +22.8% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €66,043 | €60,033 | -€6,010 | -9.1% |
| Amounts receivable within one year | 40/41 | €25,825 | €21,178 | -€4,647 | -18.0% |
| Trade receivables | 40 | €25,825 | €21,053 | -€4,772 | -18.5% |
| Other amounts receivable | 41 | - | €125 | +€125 | |
| Cash at bank and in hand | 54/58 | €40,217 | €37,483 | -€2,734 | -6.8% |
| Deferred charges and accrued income | 490/1 | - | €1,371 | +€1,371 | |
| Total equity and liabilities | 10/49 | €661,734 | €683,782 | +€22,048 | +3.3% |
| Equity | 10/15 | €431,557 | €506,610 | +€75,054 | +17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €412,957 | €488,010 | +€75,054 | +18.2% |
| Distributable reserves | 133 | €412,957 | €488,010 | +€75,054 | +18.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €230,177 | €177,172 | -€53,005 | -23.0% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €117,448 | €69,868 | -€47,581 | -40.5% |
| Trade debts | 44 | €29,742 | €6,018 | -€23,723 | -79.8% |
| Suppliers | 440/4 | €29,742 | €6,018 | -€23,723 | -79.8% |
| Taxes, remuneration and social security | 45 | €17,997 | €22,423 | +€4,425 | +24.6% |
| Taxes | 450/3 | €17,997 | €22,423 | +€4,425 | +24.6% |
| Other amounts payable | 47/48 | €69,709 | €41,427 | -€28,283 | -40.6% |
| Accrued charges and deferred income | 492/3 | €12,729 | €7,304 | -€5,425 | -42.6% |
| Non-recurring operating income | 76A | €30,692 | €0 | -€30,692 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,392 | €30,831 | +€7,439 | +31.8% |
| Other operating charges | 640/8 | €3,473 | €4,048 | +€575 | +16.6% |
| Gross operating margin | 9900 | €139,819 | €147,546 | +€7,727 | +5.5% |
| Operating profit (loss) | 9901 | €112,954 | €112,667 | -€287 | -0.3% |
| Financial income | 75/76B | €9 | €30 | +€21 | +242% |
| Recurring financial income | 75 | €9 | €30 | +€21 | +242% |
| Financial charges | 65/66B | €6,161 | €5,028 | -€1,134 | -18.4% |
| Recurring financial charges | 65 | €6,161 | €5,028 | -€1,134 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €106,801 | €107,669 | +€868 | +0.8% |
| Income taxes | 67/77 | €39,329 | €32,616 | -€6,713 | -17.1% |
| Profit (loss) for the period | 9904 | €67,473 | €75,054 | +€7,581 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,473 | €75,054 | +€7,581 | +11.2% |
Next steps
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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 1 November 2026 via checked.be.