KVD: what changed
What changed
KVD
NACE 81.300, Landscape service activities
filed annual accounts (NBB)
Net result for the year
€41,183
2025 · €65,176-€23,993
Equity
€1.4m
2025 · €1.4m+€41,183
Cash
€56,489
2025 · €136,261-€79,773
Balance sheet total
€1.5m
2025 · €1.5m+€19,015
Largest movements
Assets
- Current investments +€144,565
up €144,565 (+19.8%), from €728,752 to €873,316
- Cash -€79,773
down €79,773 (-58.5%), from €136,261 to €56,489
mainly Current investments (-€144,565) and Tax, wage and social debts (-€8,762)
- Tangible fixed assets -€33,714
down €33,714 (-6.0%), from €566,523 to €532,809
of which Land and buildings: -€22,196
- Receivables within one year -€17,611
down €17,611 (-97.2%), from €18,110 to €499
of which Other amounts receivable: -€18,077
Equity and liabilities
- Reserves +€41,183
up €41,183 (+3.0%), from €1.4m to €1.4m
Income statement
- Gross operating margin -€14,576
down €14,576 (-14.4%), from €100,984 to €86,408
- Taxes +€14,395
up €14,395 (+300%), from €4,800 to €19,195
- Financial income +€4,016
up €4,016 (+37.8%), from €10,625 to €14,641
Change in the result, 2025 to 2026
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 2025
€65,176
Gross operating margin
-€14,576
Depreciation
+€802
Other operating charges
+€155
Financial income
+€4,016
Financial charges
+€5
Taxes
-€14,395
Result 2026
€41,183
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€66,205
Investment
-€145,978
Financing
€0
Cash 2025
€136,261
From operations (derived)
+€66,205
Net result for the year
+€41,183
Depreciation
+€35,127
Stocks and contracts
-€5,377
Receivables within one year
+€17,611
Deferred charges and accrued income
-€171
Trade debts
-€7,932
Tax, wage and social debts
-€8,762
Other debts
-€5,474
Investment (derived)
-€145,978
Investment in fixed assets (net)
-€1,413
Current investments
-€144,565
Cash 2026
€56,489
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,459,912 | €1,478,927 | +€19,015 | +1.3% |
| Fixed assets | 21/28 | €566,523 | €532,809 | -€33,714 | -6.0% |
| Tangible fixed assets | 22/27 | €566,523 | €532,809 | -€33,714 | -6.0% |
| Land and buildings | 22 | €530,135 | €507,939 | -€22,196 | -4.2% |
| Plant, machinery and equipment | 23 | €12,677 | €11,722 | -€954 | -7.5% |
| Furniture and vehicles | 24 | €23,712 | €13,149 | -€10,564 | -44.5% |
| Current assets | 29/58 | €893,389 | €946,118 | +€52,729 | +5.9% |
| Stocks and contracts in progress | 3 | €7,877 | €13,253 | +€5,377 | +68.3% |
| Stocks | 30/36 | €7,877 | €13,253 | +€5,377 | +68.3% |
| Amounts receivable within one year | 40/41 | €18,110 | €499 | -€17,611 | -97.2% |
| Trade receivables | 40 | - | €466 | +€466 | |
| Other amounts receivable | 41 | €18,110 | €33 | -€18,077 | -99.8% |
| Current investments | 50/53 | €728,752 | €873,316 | +€144,565 | +19.8% |
| Cash at bank and in hand | 54/58 | €136,261 | €56,489 | -€79,773 | -58.5% |
| Deferred charges and accrued income | 490/1 | €2,389 | €2,560 | +€171 | +7.2% |
| Total equity and liabilities | 10/49 | €1,459,912 | €1,478,927 | +€19,015 | +1.3% |
| Equity | 10/15 | €1,402,038 | €1,443,222 | +€41,183 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,383,438 | €1,424,622 | +€41,183 | +3.0% |
| Distributable reserves | 133 | €1,383,438 | €1,424,622 | +€41,183 | +3.0% |
| Amounts payable | 17/49 | €57,874 | €35,705 | -€22,168 | -38.3% |
| Amounts payable within one year | 42/48 | €57,874 | €35,705 | -€22,168 | -38.3% |
| Trade debts | 44 | €14,442 | €6,510 | -€7,932 | -54.9% |
| Suppliers | 440/4 | €14,442 | €6,510 | -€7,932 | -54.9% |
| Taxes, remuneration and social security | 45 | €17,932 | €9,170 | -€8,762 | -48.9% |
| Taxes | 450/3 | €3,249 | €2,710 | -€539 | -16.6% |
| Remuneration and social security | 454/9 | €14,683 | €6,460 | -€8,223 | -56.0% |
| Other amounts payable | 47/48 | €25,500 | €20,026 | -€5,474 | -21.5% |
| Non-recurring operating income | 76A | €50,090 | €5,785 | -€44,305 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,929 | €35,127 | -€802 | -2.2% |
| Other operating charges | 640/8 | €5,643 | €5,488 | -€155 | -2.7% |
| Gross operating margin | 9900 | €100,984 | €86,408 | -€14,576 | -14.4% |
| Operating profit (loss) | 9901 | €59,412 | €45,793 | -€13,620 | -22.9% |
| Financial income | 75/76B | €10,625 | €14,641 | +€4,016 | +37.8% |
| Recurring financial income | 75 | €10,625 | €14,641 | +€4,016 | +37.8% |
| Financial charges | 65/66B | €61 | €56 | -€5 | -8.5% |
| Recurring financial charges | 65 | €61 | €56 | -€5 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €69,976 | €60,378 | -€9,598 | -13.7% |
| Income taxes | 67/77 | €4,800 | €19,195 | +€14,395 | +300% |
| Profit (loss) for the period | 9904 | €65,176 | €41,183 | -€23,993 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,176 | €41,183 | -€23,993 | -36.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.