KvdL: 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.
KvdL
Largest movements
- Tangible fixed assets +€924
new in 2025: €924
- Receivables within one year +€317
up €317 (+3.6%), from €8,770 to €9,087
- Tax, wage and social debts +€2,086
up €2,086 (+76.3%), from €2,734 to €4,820
- Profit (loss) carried forward -€997
new in 2025: -€997
- Trade debts +€549
up €549 (+17,996%), from €3 to €552
- Other debts -€418
down €418 (-25.3%), from €1,650 to €1,233
- Gross operating margin -€4,881
down €4,881 (-47.9%), from €10,187 to €5,306
- Taxes +€1,416
up €1,416 (+198%), from €714 to €2,129
- Financial charges -€684
down €684 (-17.7%), from €3,857 to €3,173
- Depreciation +€397
new in 2025: €397
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 | €9,388 | €10,608 | +€1,221 | +13.0% |
| Fixed assets | 21/28 | - | €924 | +€924 | |
| Tangible fixed assets | 22/27 | - | €924 | +€924 | |
| Furniture and vehicles | 24 | - | €924 | +€924 | |
| Current assets | 29/58 | €9,388 | €9,684 | +€296 | +3.2% |
| Amounts receivable within one year | 40/41 | €8,770 | €9,087 | +€317 | +3.6% |
| Trade receivables | 40 | €8,770 | €9,087 | +€317 | +3.6% |
| Cash at bank and in hand | 54/58 | €21 | - | -€21 | |
| Deferred charges and accrued income | 490/1 | €597 | €597 | = | 0.0% |
| Total equity and liabilities | 10/49 | €9,388 | €10,608 | +€1,221 | +13.0% |
| Equity | 10/15 | €5,000 | €4,003 | -€997 | -19.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€997 | -€997 | |
| Amounts payable | 17/49 | €4,388 | €6,605 | +€2,217 | +50.5% |
| Amounts payable within one year | 42/48 | €4,388 | €6,605 | +€2,217 | +50.5% |
| Trade debts | 44 | €3 | €552 | +€549 | +17,996% |
| Suppliers | 440/4 | €3 | €552 | +€549 | +17,996% |
| Taxes, remuneration and social security | 45 | €2,734 | €4,820 | +€2,086 | +76.3% |
| Taxes | 450/3 | €2,734 | €4,820 | +€2,086 | +76.3% |
| Other amounts payable | 47/48 | €1,650 | €1,233 | -€418 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €397 | +€397 | |
| Other operating charges | 640/8 | €590 | €613 | +€23 | +3.8% |
| Gross operating margin | 9900 | €10,187 | €5,306 | -€4,881 | -47.9% |
| Operating profit (loss) | 9901 | €9,596 | €4,296 | -€5,301 | -55.2% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €3,857 | €3,173 | -€684 | -17.7% |
| Recurring financial charges | 65 | €3,857 | €3,173 | -€684 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €5,740 | €1,133 | -€4,607 | -80.3% |
| Income taxes | 67/77 | €714 | €2,129 | +€1,416 | +198% |
| Profit (loss) for the period | 9904 | €5,026 | -€997 | -€6,023 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,026 | -€997 | -€6,023 |
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.