KVDH 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.
KVDH Management
Largest movements
- Cash +€63,692
up €63,692 (+44.3%), from €143,735 to €207,427
mainly Net result for the year (+€68,162) and Tax, wage and social debts (+€14,521)
- Receivables within one year +€14,935
up €14,935 (+1,030%), from €1,450 to €16,385
- Reserves +€68,162
up €68,162 (+68.9%), from €98,969 to €167,131
- Tax, wage and social debts +€14,521
up €14,521 (+34.4%), from €42,254 to €56,775
of which Taxes: +€16,748
- Gross operating margin -€41,211
down €41,211 (-32.1%), from €128,418 to €87,208
- Taxes -€10,987
down €10,987 (-37.8%), from €29,044 to €18,057
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 | €145,324 | €225,335 | +€80,011 | +55.1% |
| Current assets | 29/58 | €145,324 | €225,335 | +€80,011 | +55.1% |
| Amounts receivable within one year | 40/41 | €1,450 | €16,385 | +€14,935 | +1,030% |
| Trade receivables | 40 | €1,450 | €16,385 | +€14,935 | +1,030% |
| Cash at bank and in hand | 54/58 | €143,735 | €207,427 | +€63,692 | +44.3% |
| Deferred charges and accrued income | 490/1 | €140 | €1,524 | +€1,384 | +990% |
| Total equity and liabilities | 10/49 | €145,324 | €225,335 | +€80,011 | +55.1% |
| Equity | 10/15 | €98,970 | €167,132 | +€68,162 | +68.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €98,969 | €167,131 | +€68,162 | +68.9% |
| Distributable reserves | 133 | €98,969 | €167,131 | +€68,162 | +68.9% |
| Amounts payable | 17/49 | €46,354 | €58,203 | +€11,849 | +25.6% |
| Amounts payable within one year | 42/48 | €46,354 | €58,203 | +€11,849 | +25.6% |
| Trade debts | 44 | €1,254 | €0 | -€1,254 | -100% |
| Suppliers | 440/4 | €1,254 | €0 | -€1,254 | -100% |
| Taxes, remuneration and social security | 45 | €42,254 | €56,775 | +€14,521 | +34.4% |
| Taxes | 450/3 | €40,027 | €56,775 | +€16,748 | +41.8% |
| Remuneration and social security | 454/9 | €2,227 | €0 | -€2,227 | -100% |
| Other amounts payable | 47/48 | €2,846 | €1,428 | -€1,418 | -49.8% |
| Other operating charges | 640/8 | €118 | €627 | +€509 | +431% |
| Gross operating margin | 9900 | €128,418 | €87,208 | -€41,211 | -32.1% |
| Operating profit (loss) | 9901 | €128,300 | €86,581 | -€41,720 | -32.5% |
| Financial income | 75/76B | - | €62 | +€62 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Financial charges | 65/66B | €287 | €423 | +€136 | +47.3% |
| Recurring financial charges | 65 | €287 | €423 | +€136 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €128,013 | €86,219 | -€41,794 | -32.6% |
| Income taxes | 67/77 | €29,044 | €18,057 | -€10,987 | -37.8% |
| Profit (loss) for the period | 9904 | €98,969 | €68,162 | -€30,807 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,969 | €68,162 | -€30,807 | -31.1% |
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 25 October 2026 via checked.be.