KVDK: 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.
KVDK
Largest movements
- Cash -€53,681
down €53,681 (-38.1%), from €140,836 to €87,155
mainly Contributions, distributions and other (-€245,000) and Investment in fixed assets (net) (-€26,803)
- Receivables within one year +€8,979
up €8,979 (+8.3%), from €107,888 to €116,867
of which Trade receivables: +€4,840
- Financial fixed assets +€7,470
up €7,470 (+176%), from €4,234 to €11,704
- Tangible fixed assets -€6,742
down €6,742 (-7.4%), from €91,275 to €84,533
of which Furniture and vehicles: -€8,223
- Profit (loss) carried forward -€136,846
down €136,846 (-55.4%), from €247,137 to €110,291
- Other debts +€110,704
new in 2025: €110,704
- Debts after one year -€19,298
down €19,298 (-37.5%), from €51,510 to €32,212
- Gross operating margin -€42,145
down €42,145 (-18.8%), from €223,691 to €181,546
- Taxes -€13,182
down €13,182 (-30.0%), from €43,892 to €30,710
- Other operating charges +€12,857
up €12,857 (+884%), from €1,455 to €14,312
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 | €347,470 | €301,136 | -€46,333 | -13.3% |
| Fixed assets | 21/28 | €95,509 | €96,237 | +€728 | +0.8% |
| Tangible fixed assets | 22/27 | €91,275 | €84,533 | -€6,742 | -7.4% |
| Plant, machinery and equipment | 23 | €2,911 | €4,393 | +€1,481 | +50.9% |
| Furniture and vehicles | 24 | €88,364 | €80,141 | -€8,223 | -9.3% |
| Financial fixed assets | 28 | €4,234 | €11,704 | +€7,470 | +176% |
| Current assets | 29/58 | €251,961 | €204,899 | -€47,062 | -18.7% |
| Amounts receivable within one year | 40/41 | €107,888 | €116,867 | +€8,979 | +8.3% |
| Trade receivables | 40 | €104,060 | €108,900 | +€4,840 | +4.7% |
| Other amounts receivable | 41 | €3,828 | €7,967 | +€4,139 | +108% |
| Cash at bank and in hand | 54/58 | €140,836 | €87,155 | -€53,681 | -38.1% |
| Deferred charges and accrued income | 490/1 | €3,237 | €877 | -€2,360 | -72.9% |
| Total equity and liabilities | 10/49 | €347,470 | €301,136 | -€46,333 | -13.3% |
| Equity | 10/15 | €249,137 | €112,291 | -€136,846 | -54.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €247,137 | €110,291 | -€136,846 | -55.4% |
| Amounts payable | 17/49 | €98,333 | €188,845 | +€90,512 | +92.0% |
| Amounts payable after more than one year | 17 | €51,510 | €32,212 | -€19,298 | -37.5% |
| Financial debts | 170/4 | €51,510 | €32,212 | -€19,298 | -37.5% |
| Amounts payable within one year | 42/48 | €46,823 | €156,634 | +€109,810 | +235% |
| Current portion of amounts payable after more than one year | 42 | €18,526 | €19,298 | +€772 | +4.2% |
| Trade debts | 44 | €5,387 | €2,295 | -€3,092 | -57.4% |
| Suppliers | 440/4 | €5,387 | €2,295 | -€3,092 | -57.4% |
| Taxes, remuneration and social security | 45 | €22,910 | €24,337 | +€1,427 | +6.2% |
| Taxes | 450/3 | €22,910 | €24,337 | +€1,427 | +6.2% |
| Other amounts payable | 47/48 | - | €110,704 | +€110,704 | |
| Non-recurring operating income | 76A | - | €264 | +€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,825 | €26,075 | +€1,250 | +5.0% |
| Other operating charges | 640/8 | €1,455 | €14,312 | +€12,857 | +884% |
| Non-recurring operating charges | 66A | €2,894 | - | -€2,894 | |
| Gross operating margin | 9900 | €223,691 | €181,546 | -€42,145 | -18.8% |
| Operating profit (loss) | 9901 | €194,517 | €141,159 | -€53,358 | -27.4% |
| Financial income | 75/76B | €427 | €523 | +€97 | +22.7% |
| Recurring financial income | 75 | €427 | €523 | +€97 | +22.7% |
| Financial charges | 65/66B | €3,466 | €2,819 | -€647 | -18.7% |
| Recurring financial charges | 65 | €3,466 | €2,819 | -€647 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €191,478 | €138,864 | -€52,614 | -27.5% |
| Income taxes | 67/77 | €43,892 | €30,710 | -€13,182 | -30.0% |
| Profit (loss) for the period | 9904 | €147,586 | €108,154 | -€39,432 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €147,586 | €108,154 | -€39,432 | -26.7% |
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 16 October 2026 via checked.be.