KVG SERVICE: 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.
KVG SERVICE
Largest movements
- Receivables within one year -€15,946
down €15,946 (-69.4%), from €22,993 to €7,046
of which Trade receivables: -€13,648
- Cash +€12,445
up €12,445 (+25.0%), from €49,681 to €62,126
mainly Other debts (+€38,683) and Trade debts (+€16,245)
- Tangible fixed assets -€8,255
down €8,255 (-23.6%), from €35,033 to €26,778
of which Other tangible fixed assets: -€4,758
- Intangible fixed assets -€7,500
down €7,500 (-10.9%), from €68,856 to €61,356
- Stocks and contracts -€4,907
down €4,907 (-5.8%), from €84,102 to €79,195
- Profit (loss) carried forward -€81,213
down €81,213 (-182%), from -€44,732 to -€125,946
- Other debts +€38,683
up €38,683 (+160%), from €24,249 to €62,932
- Debts after one year -€18,878
down €18,878 (-8.8%), from €213,571 to €194,693
- Trade debts +€16,245
up €16,245 (+60.8%), from €26,719 to €42,965
- Current portion of long-term debt +€9,262
up €9,262 (+47.6%), from €19,454 to €28,716
- Gross operating margin -€24,573
down €24,573 (-98.9%), from -€24,855 to -€49,428
- Financial charges +€8,961
up €8,961 (+97.9%), from €9,149 to €18,110
- Depreciation +€5,273
up €5,273 (+49.2%), from €10,727 to €16,000
- Financial income +€4,437
up €4,437 (+903%), from €491 to €4,928
- Other operating charges +€2,110
up €2,110 (+428%), from €493 to €2,603
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 | €262,064 | €236,541 | -€25,523 | -9.7% |
| Fixed assets | 21/28 | €103,929 | €88,174 | -€15,755 | -15.2% |
| Intangible fixed assets | 21 | €68,856 | €61,356 | -€7,500 | -10.9% |
| Tangible fixed assets | 22/27 | €35,033 | €26,778 | -€8,255 | -23.6% |
| Plant, machinery and equipment | 23 | €5,596 | €4,215 | -€1,381 | -24.7% |
| Furniture and vehicles | 24 | €8,188 | €6,072 | -€2,116 | -25.8% |
| Other tangible fixed assets | 26 | €21,249 | €16,491 | -€4,758 | -22.4% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €158,135 | €148,367 | -€9,768 | -6.2% |
| Stocks and contracts in progress | 3 | €84,102 | €79,195 | -€4,907 | -5.8% |
| Stocks | 30/36 | €84,102 | €79,195 | -€4,907 | -5.8% |
| Amounts receivable within one year | 40/41 | €22,993 | €7,046 | -€15,946 | -69.4% |
| Trade receivables | 40 | €20,686 | €7,038 | -€13,648 | -66.0% |
| Other amounts receivable | 41 | €2,307 | €8 | -€2,298 | -99.6% |
| Cash at bank and in hand | 54/58 | €49,681 | €62,126 | +€12,445 | +25.0% |
| Deferred charges and accrued income | 490/1 | €1,359 | - | -€1,359 | |
| Total equity and liabilities | 10/49 | €262,064 | €236,541 | -€25,523 | -9.7% |
| Equity | 10/15 | -€41,732 | -€122,946 | -€81,213 | -195% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,732 | -€125,946 | -€81,213 | -182% |
| Amounts payable | 17/49 | €303,796 | €359,487 | +€55,690 | +18.3% |
| Amounts payable after more than one year | 17 | €213,571 | €194,693 | -€18,878 | -8.8% |
| Financial debts | 170/4 | €213,571 | €194,693 | -€18,878 | -8.8% |
| Amounts payable within one year | 42/48 | €90,055 | €162,034 | +€71,978 | +79.9% |
| Current portion of amounts payable after more than one year | 42 | €19,454 | €28,716 | +€9,262 | +47.6% |
| Trade debts | 44 | €26,719 | €42,965 | +€16,245 | +60.8% |
| Suppliers | 440/4 | €26,719 | €42,965 | +€16,245 | +60.8% |
| Taxes, remuneration and social security | 45 | €19,632 | €27,420 | +€7,788 | +39.7% |
| Taxes | 450/3 | €15,636 | €20,065 | +€4,429 | +28.3% |
| Remuneration and social security | 454/9 | €3,997 | €7,356 | +€3,359 | +84.1% |
| Other amounts payable | 47/48 | €24,249 | €62,932 | +€38,683 | +160% |
| Accrued charges and deferred income | 492/3 | €170 | €2,760 | +€2,590 | +1,520% |
| Non-recurring operating income | 76A | €598 | - | -€598 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,727 | €16,000 | +€5,273 | +49.2% |
| Other operating charges | 640/8 | €493 | €2,603 | +€2,110 | +428% |
| Gross operating margin | 9900 | -€24,855 | -€49,428 | -€24,573 | -98.9% |
| Operating profit (loss) | 9901 | -€36,075 | -€68,032 | -€31,957 | -88.6% |
| Financial income | 75/76B | €491 | €4,928 | +€4,437 | +903% |
| Recurring financial income | 75 | €491 | €4,928 | +€4,437 | +903% |
| Financial charges | 65/66B | €9,149 | €18,110 | +€8,961 | +97.9% |
| Recurring financial charges | 65 | €9,149 | €18,110 | +€8,961 | +97.9% |
| Profit (loss) for the period before taxes | 9903 | -€44,732 | -€81,213 | -€36,481 | -81.6% |
| Profit (loss) for the period | 9904 | -€44,732 | -€81,213 | -€36,481 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,732 | -€81,213 | -€36,481 | -81.6% |
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 27 October 2026 via checked.be.