KVDB MGMT: 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.
KVDB MGMT
Largest movements
- Receivables within one year +€24,950
up €24,950 (+266%), from €9,386 to €34,337
of which Trade receivables: +€24,979
- Intangible fixed assets -€15,000
down €15,000 (-13.6%), from €110,671 to €95,671
- Cash +€13,205
up €13,205 (+94.9%), from €13,915 to €27,120
mainly Net result for the year (+€25,956) and Depreciation (+€16,317)
- Profit (loss) carried forward +€25,956
up €25,956 (+137%), from €19,014 to €44,970
- Debts after one year -€18,699
down €18,699 (-49.0%), from €38,155 to €19,456
- Other debts +€11,024
up €11,024 (+23.2%), from €47,415 to €58,439
- Tax, wage and social debts +€6,306
up €6,306 (+117%), from €5,381 to €11,687
of which Taxes: +€4,306
- Trade debts -€3,597
down €3,597 (-42.9%), from €8,384 to €4,787
- Gross operating margin +€30,149
up €30,149 (+129%), from €23,373 to €53,521
- Taxes +€6,515
up €6,515 (+513%), from €1,271 to €7,786
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 | €138,320 | €160,057 | +€21,737 | +15.7% |
| Fixed assets | 21/28 | €113,478 | €98,565 | -€14,912 | -13.1% |
| Intangible fixed assets | 21 | €110,671 | €95,671 | -€15,000 | -13.6% |
| Tangible fixed assets | 22/27 | €1,207 | €1,294 | +€88 | +7.3% |
| Furniture and vehicles | 24 | €1,207 | €1,294 | +€88 | +7.3% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €24,843 | €61,492 | +€36,649 | +148% |
| Amounts receivable within one year | 40/41 | €9,386 | €34,337 | +€24,950 | +266% |
| Trade receivables | 40 | €9,357 | €34,337 | +€24,979 | +267% |
| Other amounts receivable | 41 | €29 | - | -€29 | |
| Cash at bank and in hand | 54/58 | €13,915 | €27,120 | +€13,205 | +94.9% |
| Deferred charges and accrued income | 490/1 | €1,541 | €35 | -€1,506 | -97.7% |
| Total equity and liabilities | 10/49 | €138,320 | €160,057 | +€21,737 | +15.7% |
| Equity | 10/15 | €21,014 | €46,970 | +€25,956 | +124% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,014 | €44,970 | +€25,956 | +137% |
| Amounts payable | 17/49 | €117,307 | €113,087 | -€4,219 | -3.6% |
| Amounts payable after more than one year | 17 | €38,155 | €19,456 | -€18,699 | -49.0% |
| Financial debts | 170/4 | €38,155 | €19,456 | -€18,699 | -49.0% |
| Amounts payable within one year | 42/48 | €79,151 | €93,611 | +€14,460 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €17,972 | €18,699 | +€727 | +4.0% |
| Trade debts | 44 | €8,384 | €4,787 | -€3,597 | -42.9% |
| Suppliers | 440/4 | €8,384 | €4,787 | -€3,597 | -42.9% |
| Taxes, remuneration and social security | 45 | €5,381 | €11,687 | +€6,306 | +117% |
| Taxes | 450/3 | €5,381 | €9,687 | +€4,306 | +80.0% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €47,415 | €58,439 | +€11,024 | +23.2% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,710 | €16,317 | -€393 | -2.4% |
| Other operating charges | 640/8 | - | €399 | +€399 | |
| Gross operating margin | 9900 | €23,373 | €53,521 | +€30,149 | +129% |
| Operating profit (loss) | 9901 | €6,663 | €36,806 | +€30,143 | +452% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,372 | €3,063 | -€309 | -9.2% |
| Recurring financial charges | 65 | €3,372 | €3,063 | -€309 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €3,291 | €33,742 | +€30,451 | +925% |
| Income taxes | 67/77 | €1,271 | €7,786 | +€6,515 | +513% |
| Profit (loss) for the period | 9904 | €2,020 | €25,956 | +€23,935 | +1,185% |
| Profit (loss) for the period to be appropriated | 9905 | €2,020 | €25,956 | +€23,935 | +1,185% |
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 17 October 2026 via checked.be.