KVE Systems: what changed
KVE Systems
Largest movements
- Cash -€301,752
down €301,752 (-84.2%), from €358,429 to €56,677
mainly Net result for the year (-€344,113) and Investment in fixed assets (net) (-€100,354)
- Receivables within one year +€52,591
up €52,591 (+27.4%), from €192,112 to €244,703
of which Trade receivables: +€109,990
- Intangible fixed assets +€50,093
new in 2025: €50,093
- Stocks and contracts +€15,556
up €15,556 (+5.9%), from €265,140 to €280,696
- Tangible fixed assets +€11,660
up €11,660 (+10.5%), from €111,125 to €122,785
of which Other tangible fixed assets: +€46,866
- Profit (loss) carried forward -€344,113
new in 2025: -€344,113
- Trade debts +€138,110
up €138,110 (+81.5%), from €169,525 to €307,635
- Current portion of long-term debt +€46,154
up €46,154 (+16.2%), from €284,492 to €330,645
- Tax, wage and social debts +€28,848
up €28,848 (+78.6%), from €36,680 to €65,528
of which Remuneration and social security: +€19,253
- Other debts -€18,529
down €18,529 (-33.7%), from €54,943 to €36,414
- Gross operating margin -€486,995
down €486,995, from €463,360 to -€23,634
- Staff costs -€127,023
down €127,023 (-32.8%), from €387,581 to €260,558
- Financial charges -€10,571
down €10,571 (-38.6%), from €27,409 to €16,838
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 | €950,223 | €782,519 | -€167,704 | -17.6% |
| Fixed assets | 21/28 | €111,125 | €172,878 | +€61,753 | +55.6% |
| Intangible fixed assets | 21 | - | €50,093 | +€50,093 | |
| Tangible fixed assets | 22/27 | €111,125 | €122,785 | +€11,660 | +10.5% |
| Land and buildings | 22 | €236 | - | -€236 | |
| Plant, machinery and equipment | 23 | €18,324 | €10,556 | -€7,768 | -42.4% |
| Furniture and vehicles | 24 | €77,985 | €50,782 | -€27,202 | -34.9% |
| Other tangible fixed assets | 26 | €14,581 | €61,446 | +€46,866 | +321% |
| Current assets | 29/58 | €839,098 | €609,641 | -€229,457 | -27.3% |
| Stocks and contracts in progress | 3 | €265,140 | €280,696 | +€15,556 | +5.9% |
| Stocks | 30/36 | €265,140 | €280,696 | +€15,556 | +5.9% |
| Amounts receivable within one year | 40/41 | €192,112 | €244,703 | +€52,591 | +27.4% |
| Trade receivables | 40 | €94,783 | €204,773 | +€109,990 | +116% |
| Other amounts receivable | 41 | €97,329 | €39,930 | -€57,399 | -59.0% |
| Cash at bank and in hand | 54/58 | €358,429 | €56,677 | -€301,752 | -84.2% |
| Deferred charges and accrued income | 490/1 | €23,417 | €27,565 | +€4,148 | +17.7% |
| Total equity and liabilities | 10/49 | €950,223 | €782,519 | -€167,704 | -17.6% |
| Equity | 10/15 | €347,910 | €3,797 | -€344,113 | -98.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €335,510 | €335,510 | = | 0.0% |
| Distributable reserves | 133 | €335,510 | €335,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€344,113 | -€344,113 | |
| Amounts payable | 17/49 | €602,313 | €778,721 | +€176,408 | +29.3% |
| Amounts payable after more than one year | 17 | €51,810 | €34,217 | -€17,593 | -34.0% |
| Financial debts | 170/4 | €51,810 | €34,217 | -€17,593 | -34.0% |
| Amounts payable within one year | 42/48 | €550,472 | €744,472 | +€193,999 | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €284,492 | €330,645 | +€46,154 | +16.2% |
| Trade debts | 44 | €169,525 | €307,635 | +€138,110 | +81.5% |
| Suppliers | 440/4 | €169,525 | €307,635 | +€138,110 | +81.5% |
| Advances received on contracts in progress | 46 | €4,834 | €4,250 | -€584 | -12.1% |
| Taxes, remuneration and social security | 45 | €36,680 | €65,528 | +€28,848 | +78.6% |
| Taxes | 450/3 | €3,031 | €12,626 | +€9,595 | +317% |
| Remuneration and social security | 454/9 | €33,648 | €52,901 | +€19,253 | +57.2% |
| Other amounts payable | 47/48 | €54,943 | €36,414 | -€18,529 | -33.7% |
| Accrued charges and deferred income | 492/3 | €31 | €32 | +€2 | +5.4% |
| Remuneration, social security and pensions | 62 | €387,581 | €260,558 | -€127,023 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,969 | €38,601 | -€1,368 | -3.4% |
| Other operating charges | 640/8 | €5,068 | €6,512 | +€1,444 | +28.5% |
| Gross operating margin | 9900 | €463,360 | -€23,634 | -€486,995 | |
| Operating profit (loss) | 9901 | €30,743 | -€329,305 | -€360,048 | |
| Financial income | 75/76B | €26 | €2,392 | +€2,365 | +8,943% |
| Recurring financial income | 75 | €26 | €2,392 | +€2,365 | +8,943% |
| Financial charges | 65/66B | €27,409 | €16,838 | -€10,571 | -38.6% |
| Recurring financial charges | 65 | €27,409 | €16,838 | -€10,571 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €3,360 | -€343,751 | -€347,111 | |
| Income taxes | 67/77 | €852 | €362 | -€491 | -57.6% |
| Profit (loss) for the period | 9904 | €2,508 | -€344,113 | -€346,621 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,508 | -€344,113 | -€346,621 |
Next steps
Calculation and sources
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 2 November 2026 via checked.be.