KVDG 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.
KVDG Management
Largest movements
- Receivables within one year +€77,006
up €77,006 (+390%), from €19,742 to €96,748
of which Other amounts receivable: +€74,728
- Cash +€3,442
up €3,442 (+3.3%), from €104,723 to €108,165
mainly Net result for the year (+€80,532) and Depreciation (+€732)
- Reserves +€80,532
up €80,532 (+85.4%), from €94,290 to €174,822
- Gross operating margin +€11,945
up €11,945 (+13.0%), from €91,650 to €103,595
- Taxes +€3,879
up €3,879 (+20.0%), from €19,410 to €23,289
- Financial income +€3,322
up €3,322 (+5,719%), from €58 to €3,380
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,862 | €207,414 | +€80,552 | +63.5% |
| Fixed assets | 21/28 | €2,076 | €2,500 | +€424 | +20.4% |
| Tangible fixed assets | 22/27 | €2,076 | €2,500 | +€424 | +20.4% |
| Furniture and vehicles | 24 | €2,076 | €2,500 | +€424 | +20.4% |
| Current assets | 29/58 | €124,786 | €204,913 | +€80,127 | +64.2% |
| Amounts receivable within one year | 40/41 | €19,742 | €96,748 | +€77,006 | +390% |
| Trade receivables | 40 | €19,222 | €21,499 | +€2,277 | +11.8% |
| Other amounts receivable | 41 | €521 | €75,249 | +€74,728 | +14,348% |
| Cash at bank and in hand | 54/58 | €104,723 | €108,165 | +€3,442 | +3.3% |
| Deferred charges and accrued income | 490/1 | €320 | €0 | -€320 | -100% |
| Total equity and liabilities | 10/49 | €126,862 | €207,414 | +€80,552 | +63.5% |
| Equity | 10/15 | €94,291 | €174,823 | +€80,532 | +85.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €94,290 | €174,822 | +€80,532 | +85.4% |
| Distributable reserves | 133 | €94,290 | €174,822 | +€80,532 | +85.4% |
| Amounts payable | 17/49 | €32,572 | €32,591 | +€20 | +0.1% |
| Amounts payable after more than one year | 17 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €31,072 | €31,091 | +€20 | +0.1% |
| Trade debts | 44 | €1,795 | €1,546 | -€249 | -13.9% |
| Suppliers | 440/4 | €1,795 | €1,546 | -€249 | -13.9% |
| Taxes, remuneration and social security | 45 | €29,276 | €29,545 | +€269 | +0.9% |
| Taxes | 450/3 | €29,276 | €29,545 | +€269 | +0.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179 | €732 | +€553 | +308% |
| Other operating charges | 640/8 | €140 | €1,142 | +€1,002 | +715% |
| Gross operating margin | 9900 | €91,650 | €103,595 | +€11,945 | +13.0% |
| Operating profit (loss) | 9901 | €91,330 | €101,721 | +€10,391 | +11.4% |
| Financial income | 75/76B | €58 | €3,380 | +€3,322 | +5,719% |
| Recurring financial income | 75 | €58 | €3,380 | +€3,322 | +5,719% |
| Financial charges | 65/66B | €1,626 | €1,279 | -€347 | -21.3% |
| Recurring financial charges | 65 | €1,626 | €1,279 | -€347 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €89,762 | €103,821 | +€14,059 | +15.7% |
| Income taxes | 67/77 | €19,410 | €23,289 | +€3,879 | +20.0% |
| Profit (loss) for the period | 9904 | €70,351 | €80,532 | +€10,181 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,351 | €80,532 | +€10,181 | +14.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.