KVDS.be: what changed
Two fiscal 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.
KVDS.be
Largest movements
- Receivables within one year -€82,393
down €82,393 (-31.4%), from €262,702 to €180,309
of which Trade receivables: -€107,236
- Cash +€66,079
up €66,079 (+51.9%), from €127,265 to €193,344
mainly Net result for the year (+€145,958) and Other debts (+€91,207)
- Tangible fixed assets -€19,270
down €19,270 (-38.0%), from €50,723 to €31,453
of which Furniture and vehicles: -€19,046
- Intangible fixed assets +€10,533
new in 2025: €10,533
- Deferred charges and accrued income +€6,110
up €6,110 (+137.9%), from €4,431 to €10,541
- Profit (loss) carried forward -€124,042
down €124,042 (-70.7%), from €175,423 to €51,381
- Other debts +€91,207
up €91,207 (+262.1%), from €34,793 to €126,000
- Trade debts +€61,363
up €61,363 (+66.6%), from €92,174 to €153,536
- Tax, wage and social debts -€34,556
down €34,556 (-33.9%), from €101,846 to €67,290
of which Taxes: -€44,320
- Debts after one year -€10,760
down €10,760 (-50.3%), from €21,399 to €10,639
- Staff costs +€54,020
up €54,020 (+15.4%), from €351,777 to €405,797
- Taxes -€40,947
down €40,947 (-71.7%), from €57,132 to €16,185
- Gross operating margin +€25,723
up €25,723 (+4.6%), from €559,683 to €585,406
- Financial income +€6,221
up €6,221 (+7347.7%), from €85 to €6,306
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.
Cash bridge derived
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 | €446,629 | €428,112 | -€18,517 | -4.1% |
| Fixed assets | 21/28 | €52,231 | €43,918 | -€8,313 | -15.9% |
| Intangible fixed assets | 21 | - | €10,533 | +€10,533 | |
| Tangible fixed assets | 22/27 | €50,723 | €31,453 | -€19,270 | -38.0% |
| Plant, machinery and equipment | 23 | €223 | €0 | -€223 | -100.0% |
| Furniture and vehicles | 24 | €50,499 | €31,453 | -€19,046 | -37.7% |
| Financial fixed assets | 28 | €1,508 | €1,932 | +€424 | +28.1% |
| Current assets | 29/58 | €394,398 | €384,194 | -€10,205 | -2.6% |
| Amounts receivable within one year | 40/41 | €262,702 | €180,309 | -€82,393 | -31.4% |
| Trade receivables | 40 | €228,756 | €121,520 | -€107,236 | -46.9% |
| Other amounts receivable | 41 | €33,945 | €58,789 | +€24,843 | +73.2% |
| Cash at bank and in hand | 54/58 | €127,265 | €193,344 | +€66,079 | +51.9% |
| Deferred charges and accrued income | 490/1 | €4,431 | €10,541 | +€6,110 | +137.9% |
| Total equity and liabilities | 10/49 | €446,629 | €428,112 | -€18,517 | -4.1% |
| Equity | 10/15 | €181,623 | €57,581 | -€124,042 | -68.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,423 | €51,381 | -€124,042 | -70.7% |
| Amounts payable | 17/49 | €265,006 | €370,531 | +€105,524 | +39.8% |
| Amounts payable after more than one year | 17 | €21,399 | €10,639 | -€10,760 | -50.3% |
| Financial debts | 170/4 | €21,399 | €10,639 | -€10,760 | -50.3% |
| Amounts payable within one year | 42/48 | €243,608 | €359,892 | +€116,284 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €14,313 | €10,760 | -€3,554 | -24.8% |
| Financial debts | 43 | €482 | €2,305 | +€1,823 | +378.0% |
| Credit institutions | 430/8 | €482 | €2,305 | +€1,823 | +378.0% |
| Trade debts | 44 | €92,174 | €153,536 | +€61,363 | +66.6% |
| Suppliers | 440/4 | €92,174 | €153,536 | +€61,363 | +66.6% |
| Taxes, remuneration and social security | 45 | €101,846 | €67,290 | -€34,556 | -33.9% |
| Taxes | 450/3 | €66,709 | €22,389 | -€44,320 | -66.4% |
| Remuneration and social security | 454/9 | €35,137 | €44,901 | +€9,764 | +27.8% |
| Other amounts payable | 47/48 | €34,793 | €126,000 | +€91,207 | +262.1% |
| Non-recurring operating income | 76A | - | €2,415 | +€2,415 | |
| Remuneration, social security and pensions | 62 | €351,777 | €405,797 | +€54,020 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,522 | €16,423 | -€100 | -0.6% |
| Other operating charges | 640/8 | €1,893 | €2,513 | +€620 | +32.7% |
| Gross operating margin | 9900 | €559,683 | €585,406 | +€25,723 | +4.6% |
| Operating profit (loss) | 9901 | €189,491 | €160,674 | -€28,817 | -15.2% |
| Financial income | 75/76B | €85 | €6,306 | +€6,221 | +7347.7% |
| Recurring financial income | 75 | €85 | €6,306 | +€6,221 | +7347.7% |
| Financial charges | 65/66B | €4,826 | €4,836 | +€10 | +0.2% |
| Recurring financial charges | 65 | €4,826 | €4,836 | +€10 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €184,749 | €162,143 | -€22,606 | -12.2% |
| Income taxes | 67/77 | €57,132 | €16,185 | -€40,947 | -71.7% |
| Profit (loss) for the period | 9904 | €127,617 | €145,958 | +€18,341 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €127,617 | €145,958 | +€18,341 | +14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.