KVDS 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.
KVDS MANAGEMENT
Largest movements
- Receivables within one year -€7,440
down €7,440 (-12.9%), from €57,468 to €50,028
of which Trade receivables: -€10,715
- Cash +€3,411
up €3,411 (+352%), from €969 to €4,380
mainly Trade debts (+€40,219) and Tax, wage and social debts (+€10,769)
- Tangible fixed assets +€2,012
up €2,012 (+14.5%), from €13,896 to €15,908
of which Furniture and vehicles: +€3,600
- Deferred charges and accrued income +€1,451
up €1,451 (+806%), from €180 to €1,631
- Profit (loss) carried forward -€45,054
down €45,054 (-237%), from -€19,013 to -€64,067
- Trade debts +€40,219
up €40,219 (+109%), from €36,875 to €77,094
- Tax, wage and social debts +€10,769
up €10,769 (+44.5%), from €24,208 to €34,976
- Current portion of long-term debt -€6,500
down €6,500 (-26.0%), from €25,000 to €18,500
- Gross operating margin -€33,943
down €33,943 (-1,705%), from -€1,991 to -€35,933
- Depreciation -€1,988
down €1,988 (-41.6%), from €4,782 to €2,794
- Taxes -€1,651
down €1,651 (-100%), from €1,651 to €0
- Other operating charges -€1,635
down €1,635 (-31.9%), from €5,117 to €3,483
- Financial income +€1,048
up €1,048 (+7,134%), from €15 to €1,063
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 | €72,514 | €71,947 | -€567 | -0.8% |
| Fixed assets | 21/28 | €13,896 | €15,908 | +€2,012 | +14.5% |
| Tangible fixed assets | 22/27 | €13,896 | €15,908 | +€2,012 | +14.5% |
| Plant, machinery and equipment | 23 | €11,782 | €10,195 | -€1,587 | -13.5% |
| Furniture and vehicles | 24 | €2,114 | €5,714 | +€3,600 | +170% |
| Current assets | 29/58 | €58,617 | €56,039 | -€2,579 | -4.4% |
| Amounts receivable within one year | 40/41 | €57,468 | €50,028 | -€7,440 | -12.9% |
| Trade receivables | 40 | €48,802 | €38,087 | -€10,715 | -22.0% |
| Other amounts receivable | 41 | €8,666 | €11,941 | +€3,275 | +37.8% |
| Cash at bank and in hand | 54/58 | €969 | €4,380 | +€3,411 | +352% |
| Deferred charges and accrued income | 490/1 | €180 | €1,631 | +€1,451 | +806% |
| Total equity and liabilities | 10/49 | €72,514 | €71,947 | -€567 | -0.8% |
| Equity | 10/15 | -€13,569 | -€58,623 | -€45,054 | -332% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €444 | €444 | = | 0.0% |
| Distributable reserves | 133 | €444 | €444 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,013 | -€64,067 | -€45,054 | -237% |
| Amounts payable | 17/49 | €86,083 | €130,570 | +€44,487 | +51.7% |
| Amounts payable within one year | 42/48 | €86,083 | €130,570 | +€44,487 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €18,500 | -€6,500 | -26.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €36,875 | €77,094 | +€40,219 | +109% |
| Suppliers | 440/4 | €36,875 | €77,094 | +€40,219 | +109% |
| Taxes, remuneration and social security | 45 | €24,208 | €34,976 | +€10,769 | +44.5% |
| Taxes | 450/3 | €24,208 | €34,976 | +€10,769 | +44.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,782 | €2,794 | -€1,988 | -41.6% |
| Other operating charges | 640/8 | €5,117 | €3,483 | -€1,635 | -31.9% |
| Non-recurring operating charges | 66A | €1,877 | €801 | -€1,076 | -57.3% |
| Gross operating margin | 9900 | -€1,991 | -€35,933 | -€33,943 | -1,705% |
| Operating profit (loss) | 9901 | -€13,767 | -€43,011 | -€29,244 | -212% |
| Financial income | 75/76B | €15 | €1,063 | +€1,048 | +7,134% |
| Recurring financial income | 75 | €15 | €1,063 | +€1,048 | +7,134% |
| Financial charges | 65/66B | €3,609 | €3,106 | -€503 | -13.9% |
| Recurring financial charges | 65 | €3,609 | €3,106 | -€503 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,362 | -€45,054 | -€27,692 | -160% |
| Income taxes | 67/77 | €1,651 | €0 | -€1,651 | -100% |
| Profit (loss) for the period | 9904 | -€19,013 | -€45,054 | -€26,042 | -137% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,013 | -€45,054 | -€26,042 | -137% |
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 30 October 2026 via checked.be.