KVH Elektro: 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.
KVH Elektro
Largest movements
- Cash +€45,699
up €45,699 (+249%), from €18,343 to €64,042
mainly Net result for the year (+€85,336) and Other debts (+€40,762)
- Financial fixed assets +€43,700
up €43,700 (+86.0%), from €50,800 to €94,500
- Receivables within one year -€19,197
down €19,197 (-15.0%), from €127,871 to €108,674
of which Other amounts receivable: -€34,440
- Stocks and contracts -€17,897
down €17,897 (-17.5%), from €102,148 to €84,251
of which Contracts in progress: -€13,159
- Reserves +€62,670
up €62,670 (+57.1%), from €109,708 to €172,379
- Profit (loss) carried forward -€57,023
down €57,023 (-100%), from €57,023 to €0
- Other debts +€40,762
new in 2025: €40,762
- Current portion of long-term debt +€39,700
up €39,700 (+993%), from €4,000 to €43,700
- Trade debts -€28,156
down €28,156 (-27.2%), from €103,640 to €75,484
- Gross operating margin +€136,087
up €136,087, from -€17,419 to €118,668
- Taxes +€27,039
up €27,039 (+11,610%), from €233 to €27,272
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 | €306,945 | €361,312 | +€54,367 | +17.7% |
| Fixed assets | 21/28 | €53,147 | €97,192 | +€44,046 | +82.9% |
| Tangible fixed assets | 22/27 | €2,347 | €2,692 | +€346 | +14.7% |
| Plant, machinery and equipment | 23 | €2,347 | €2,692 | +€346 | +14.7% |
| Financial fixed assets | 28 | €50,800 | €94,500 | +€43,700 | +86.0% |
| Current assets | 29/58 | €253,798 | €264,120 | +€10,321 | +4.1% |
| Stocks and contracts in progress | 3 | €102,148 | €84,251 | -€17,897 | -17.5% |
| Stocks | 30/36 | €31,158 | €26,420 | -€4,738 | -15.2% |
| Contracts in progress | 37 | €70,990 | €57,831 | -€13,159 | -18.5% |
| Amounts receivable within one year | 40/41 | €127,871 | €108,674 | -€19,197 | -15.0% |
| Trade receivables | 40 | €45,272 | €60,515 | +€15,243 | +33.7% |
| Other amounts receivable | 41 | €82,599 | €48,160 | -€34,440 | -41.7% |
| Cash at bank and in hand | 54/58 | €18,343 | €64,042 | +€45,699 | +249% |
| Deferred charges and accrued income | 490/1 | €5,435 | €7,152 | +€1,717 | +31.6% |
| Total equity and liabilities | 10/49 | €306,945 | €361,312 | +€54,367 | +17.7% |
| Equity | 10/15 | €176,731 | €182,379 | +€5,647 | +3.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €109,708 | €172,379 | +€62,670 | +57.1% |
| Distributable reserves | 133 | €109,708 | €172,379 | +€62,670 | +57.1% |
| Profit (loss) carried forward | 14 | €57,023 | €0 | -€57,023 | -100% |
| Amounts payable | 17/49 | €130,213 | €178,933 | +€48,720 | +37.4% |
| Amounts payable within one year | 42/48 | €128,713 | €177,333 | +€48,620 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €4,000 | €43,700 | +€39,700 | +993% |
| Trade debts | 44 | €103,640 | €75,484 | -€28,156 | -27.2% |
| Suppliers | 440/4 | €103,640 | €75,484 | -€28,156 | -27.2% |
| Advances received on contracts in progress | 46 | €18,527 | €0 | -€18,527 | -100% |
| Taxes, remuneration and social security | 45 | €2,547 | €17,387 | +€14,840 | +583% |
| Taxes | 450/3 | €2,547 | €17,387 | +€14,840 | +583% |
| Other amounts payable | 47/48 | - | €40,762 | +€40,762 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,600 | +€100 | +6.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,164 | €1,448 | -€716 | -33.1% |
| Other operating charges | 640/8 | €1,774 | €1,573 | -€201 | -11.3% |
| Non-recurring operating charges | 66A | - | €573 | +€573 | |
| Gross operating margin | 9900 | -€17,419 | €118,668 | +€136,087 | |
| Operating profit (loss) | 9901 | -€21,357 | €115,074 | +€136,431 | |
| Financial income | 75/76B | €3,022 | €3,171 | +€150 | +5.0% |
| Recurring financial income | 75 | €3,022 | €3,171 | +€150 | +5.0% |
| Financial charges | 65/66B | €5,655 | €5,637 | -€18 | -0.3% |
| Recurring financial charges | 65 | €5,655 | €5,637 | -€18 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,990 | €112,609 | +€136,599 | |
| Income taxes | 67/77 | €233 | €27,272 | +€27,039 | +11,610% |
| Profit (loss) for the period | 9904 | -€24,223 | €85,336 | +€109,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,223 | €85,336 | +€109,559 |
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 24 October 2026 via checked.be.