KVDH: 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.
KVDH
Largest movements
- Cash -€384,926
down €384,926 (-69.9%), from €550,586 to €165,660
mainly Current investments (-€380,000) and Contributions, distributions and other (-€100,454)
- Current investments +€380,000
new in 2025: €380,000
- Receivables within one year +€44,403
up €44,403 (+18.3%), from €243,256 to €287,659
of which Trade receivables: +€57,513
- Tangible fixed assets -€17,862
down €17,862 (-6.1%), from €293,775 to €275,914
of which Land and buildings: -€19,224
- Reserves +€57,491
up €57,491 (+6.2%), from €927,325 to €984,816
- Debts after one year -€29,654
down €29,654 (-36.0%), from €82,413 to €52,759
- Gross operating margin -€14,735
down €14,735 (-5.5%), from €267,663 to €252,928
- Financial income +€6,020
up €6,020 (+30,098,050%), from €0 to €6,020
- Taxes -€3,122
down €3,122 (-4.4%), from €71,678 to €68,556
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 | €1,090,163 | €1,113,492 | +€23,329 | +2.1% |
| Fixed assets | 21/28 | €293,775 | €275,914 | -€17,862 | -6.1% |
| Tangible fixed assets | 22/27 | €293,775 | €275,914 | -€17,862 | -6.1% |
| Land and buildings | 22 | €283,583 | €264,359 | -€19,224 | -6.8% |
| Plant, machinery and equipment | 23 | €2,469 | €4,543 | +€2,073 | +84.0% |
| Furniture and vehicles | 24 | €7,723 | €7,012 | -€711 | -9.2% |
| Current assets | 29/58 | €796,388 | €837,579 | +€41,191 | +5.2% |
| Amounts receivable within one year | 40/41 | €243,256 | €287,659 | +€44,403 | +18.3% |
| Trade receivables | 40 | €226,881 | €284,394 | +€57,513 | +25.3% |
| Other amounts receivable | 41 | €16,374 | €3,265 | -€13,109 | -80.1% |
| Current investments | 50/53 | - | €380,000 | +€380,000 | |
| Cash at bank and in hand | 54/58 | €550,586 | €165,660 | -€384,926 | -69.9% |
| Deferred charges and accrued income | 490/1 | €2,546 | €4,260 | +€1,713 | +67.3% |
| Total equity and liabilities | 10/49 | €1,090,163 | €1,113,492 | +€23,329 | +2.1% |
| Equity | 10/15 | €945,925 | €1,003,416 | +€57,491 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €927,325 | €984,816 | +€57,491 | +6.2% |
| Distributable reserves | 133 | €927,325 | €984,816 | +€57,491 | +6.2% |
| Amounts payable | 17/49 | €144,238 | €110,077 | -€34,162 | -23.7% |
| Amounts payable after more than one year | 17 | €82,413 | €52,759 | -€29,654 | -36.0% |
| Financial debts | 170/4 | €82,413 | €52,759 | -€29,654 | -36.0% |
| Amounts payable within one year | 42/48 | €59,287 | €55,484 | -€3,803 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €30,151 | €30,782 | +€631 | +2.1% |
| Trade debts | 44 | €3,877 | €2,633 | -€1,244 | -32.1% |
| Suppliers | 440/4 | €3,877 | €2,633 | -€1,244 | -32.1% |
| Taxes, remuneration and social security | 45 | €8,322 | €4,508 | -€3,814 | -45.8% |
| Taxes | 450/3 | €8,322 | €4,508 | -€3,814 | -45.8% |
| Other amounts payable | 47/48 | €16,937 | €17,561 | +€624 | +3.7% |
| Accrued charges and deferred income | 492/3 | €2,539 | €1,835 | -€704 | -27.7% |
| Non-recurring operating income | 76A | €2,926 | - | -€2,926 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,842 | €22,916 | -€1,926 | -7.8% |
| Other operating charges | 640/8 | €4,100 | €4,942 | +€842 | +20.5% |
| Gross operating margin | 9900 | €267,663 | €252,928 | -€14,735 | -5.5% |
| Operating profit (loss) | 9901 | €238,720 | €225,069 | -€13,651 | -5.7% |
| Financial income | 75/76B | €0 | €6,020 | +€6,020 | +30,098,050% |
| Recurring financial income | 75 | €0 | €6,020 | +€6,020 | +30,098,050% |
| Financial charges | 65/66B | €3,784 | €4,588 | +€805 | +21.3% |
| Recurring financial charges | 65 | €3,784 | €4,588 | +€805 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €234,937 | €226,501 | -€8,436 | -3.6% |
| Income taxes | 67/77 | €71,678 | €68,556 | -€3,122 | -4.4% |
| Profit (loss) for the period | 9904 | €163,259 | €157,944 | -€5,314 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €163,259 | €157,944 | -€5,314 | -3.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.