KVD Management: 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.
KVD Management
Largest movements
- Receivables within one year +€6,050
new in 2025: €6,050
- Reserves +€8,087
up €8,087 (+56.1%), from €14,413 to €22,500
- Tax, wage and social debts -€2,429
down €2,429 (-17.4%), from €13,954 to €11,526
of which Taxes: -€2,444
- Other operating charges +€379
up €379 (+96.5%), from €393 to €772
- Gross operating margin +€193
up €193 (+1.3%), from €14,566 to €14,759
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.
Derived cash bridge
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 | €171,507 | €176,102 | +€4,595 | +2.7% |
| Fixed assets | 21/28 | €131,787 | €131,324 | -€463 | -0.4% |
| Tangible fixed assets | 22/27 | €887 | €424 | -€463 | -52.2% |
| Furniture and vehicles | 24 | €887 | €424 | -€463 | -52.2% |
| Financial fixed assets | 28 | €130,900 | €130,900 | = | 0.0% |
| Current assets | 29/58 | €39,719 | €44,778 | +€5,058 | +12.7% |
| Amounts receivable within one year | 40/41 | - | €6,050 | +€6,050 | |
| Trade receivables | 40 | - | €6,050 | +€6,050 | |
| Cash at bank and in hand | 54/58 | €39,034 | €38,728 | -€306 | -0.8% |
| Deferred charges and accrued income | 490/1 | €686 | - | -€686 | |
| Total equity and liabilities | 10/49 | €171,507 | €176,102 | +€4,595 | +2.7% |
| Equity | 10/15 | €155,500 | €163,423 | +€7,923 | +5.1% |
| Contributions | 10/11 | €133,000 | €133,000 | = | 0.0% |
| Reserves | 13 | €14,413 | €22,500 | +€8,087 | +56.1% |
| Distributable reserves | 133 | €14,413 | €22,500 | +€8,087 | +56.1% |
| Profit (loss) carried forward | 14 | €8,087 | €7,923 | -€164 | -2.0% |
| Amounts payable | 17/49 | €16,007 | €12,679 | -€3,327 | -20.8% |
| Amounts payable within one year | 42/48 | €16,007 | €12,679 | -€3,327 | -20.8% |
| Trade debts | 44 | €2,052 | €1,154 | -€899 | -43.8% |
| Suppliers | 440/4 | €2,052 | €1,154 | -€899 | -43.8% |
| Taxes, remuneration and social security | 45 | €13,954 | €11,526 | -€2,429 | -17.4% |
| Taxes | 450/3 | €11,935 | €9,491 | -€2,444 | -20.5% |
| Remuneration and social security | 454/9 | €2,019 | €2,035 | +€16 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €432 | €463 | +€31 | +7.2% |
| Other operating charges | 640/8 | €393 | €772 | +€379 | +96.5% |
| Gross operating margin | 9900 | €14,566 | €14,759 | +€193 | +1.3% |
| Operating profit (loss) | 9901 | €13,741 | €13,524 | -€217 | -1.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,343 | €2,339 | -€4 | -0.2% |
| Recurring financial charges | 65 | €2,343 | €2,339 | -€4 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €11,398 | €11,185 | -€213 | -1.9% |
| Income taxes | 67/77 | €3,311 | €3,263 | -€49 | -1.5% |
| Profit (loss) for the period | 9904 | €8,087 | €7,923 | -€164 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,087 | €7,923 | -€164 | -2.0% |
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.