KVDZ Consulting: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
KVDZ Consulting
Largest movements
- Tangible fixed assets +€212,367
up €212,367 (+2,667%), from €7,962 to €220,329
of which Land and buildings: +€212,605
- Cash -€21,686
down €21,686 (-56.3%), from €38,505 to €16,819
mainly Investment in fixed assets (net) (-€242,234) and Other debts (-€13,004)
- Receivables within one year +€4,928
up €4,928 (+284%), from €1,738 to €6,666
- Debts after one year +€168,290
new in 2025: €168,290
- Reserves +€17,652
up €17,652 (+203%), from €8,705 to €26,357
- Other debts -€13,004
down €13,004 (-91.1%), from €14,274 to €1,270
- Current portion of long-term debt +€8,977
new in 2025: €8,977
- Tax, wage and social debts +€8,909
up €8,909 (+75.2%), from €11,854 to €20,764
- Depreciation +€29,141
up €29,141 (+4,012%), from €726 to €29,867
- Gross operating margin -€14,998
down €14,998 (-20.5%), from €73,151 to €58,153
- Taxes +€2,828
up €2,828 (+51.0%), from €5,548 to €8,375
- Financial charges +€2,065
up €2,065 (+2,588%), from €80 to €2,145
- Other operating charges -€886
down €886 (-88.6%), from €1,000 to €114
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,658 | €244,543 | +€194,884 | +392% |
| Fixed assets | 21/28 | €7,962 | €220,329 | +€212,367 | +2,667% |
| Tangible fixed assets | 22/27 | €7,962 | €220,329 | +€212,367 | +2,667% |
| Land and buildings | 22 | - | €212,605 | +€212,605 | |
| Plant, machinery and equipment | 23 | €1,818 | €1,382 | -€436 | -24.0% |
| Furniture and vehicles | 24 | €6,144 | €6,343 | +€199 | +3.2% |
| Current assets | 29/58 | €41,696 | €24,213 | -€17,483 | -41.9% |
| Amounts receivable within one year | 40/41 | €1,738 | €6,666 | +€4,928 | +284% |
| Trade receivables | 40 | €1,738 | €6,666 | +€4,928 | +284% |
| Cash at bank and in hand | 54/58 | €38,505 | €16,819 | -€21,686 | -56.3% |
| Deferred charges and accrued income | 490/1 | €1,453 | €728 | -€725 | -49.9% |
| Total equity and liabilities | 10/49 | €49,658 | €244,543 | +€194,884 | +392% |
| Equity | 10/15 | €22,705 | €40,357 | +€17,652 | +77.7% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €8,705 | €26,357 | +€17,652 | +203% |
| Distributable reserves | 133 | €8,705 | €26,357 | +€17,652 | +203% |
| Amounts payable | 17/49 | €26,954 | €204,186 | +€177,232 | +658% |
| Amounts payable after more than one year | 17 | - | €168,290 | +€168,290 | |
| Financial debts | 170/4 | - | €168,290 | +€168,290 | |
| Amounts payable within one year | 42/48 | €26,954 | €35,896 | +€8,942 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,977 | +€8,977 | |
| Trade debts | 44 | €826 | €4,885 | +€4,060 | +492% |
| Suppliers | 440/4 | €826 | €4,885 | +€4,060 | +492% |
| Taxes, remuneration and social security | 45 | €11,854 | €20,764 | +€8,909 | +75.2% |
| Taxes | 450/3 | €11,854 | €20,764 | +€8,909 | +75.2% |
| Other amounts payable | 47/48 | €14,274 | €1,270 | -€13,004 | -91.1% |
| Non-recurring operating income | 76A | - | €231 | +€231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €726 | €29,867 | +€29,141 | +4,012% |
| Other operating charges | 640/8 | €1,000 | €114 | -€886 | -88.6% |
| Gross operating margin | 9900 | €73,151 | €58,153 | -€14,998 | -20.5% |
| Operating profit (loss) | 9901 | €71,425 | €28,172 | -€43,253 | -60.6% |
| Financial charges | 65/66B | €80 | €2,145 | +€2,065 | +2,588% |
| Recurring financial charges | 65 | €80 | €2,145 | +€2,065 | +2,588% |
| Profit (loss) for the period before taxes | 9903 | €71,345 | €26,027 | -€45,318 | -63.5% |
| Income taxes | 67/77 | €5,548 | €8,375 | +€2,828 | +51.0% |
| Profit (loss) for the period | 9904 | €65,798 | €17,652 | -€48,145 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €65,798 | €17,652 | -€48,145 | -73.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.