KVJM: what changed
Two fiscal 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.
KVJM
Largest movements
- Tangible fixed assets +€346,667
up €346,667 (+198.4%), from €174,690 to €521,358
of which Land and buildings: +€319,347
- Current investments -€111,200
down €111,200 (-90.0%), from €123,500 to €12,300
- Cash +€82,906
up €82,906 (+190.4%), from €43,534 to €126,440
mainly Other debts (+€264,318) and Current investments (+€111,200)
- Receivables within one year -€12,139
down €12,139 (-25.1%), from €48,328 to €36,189
of which Trade receivables: -€18,818
- Other debts +€264,318
up €264,318 (+4629.6%), from €5,709 to €270,027
- Reserves +€61,259
up €61,259 (+17.9%), from €341,674 to €402,932
- Tax, wage and social debts -€31,246
down €31,246 (-76.2%), from €41,013 to €9,767
- Accrued charges and deferred income +€9,441
up €9,441 (+2954.2%), from €320 to €9,761
- Financial charges +€12,228
up €12,228 (+28090.4%), from €44 to €12,271
- Gross operating margin -€12,057
down €12,057 (-7.8%), from €154,589 to €142,532
- Depreciation -€4,558
down €4,558 (-7.8%), from €58,552 to €53,994
- Taxes -€3,076
down €3,076 (-15.4%), from €19,957 to €16,881
- Financial income +€2,708
up €2,708 (+13519.0%), from €20 to €2,728
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.
Cash bridge derived
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 | €393,425 | €698,676 | +€305,251 | +77.6% |
| Fixed assets | 21/28 | €174,690 | €521,358 | +€346,667 | +198.4% |
| Tangible fixed assets | 22/27 | €174,690 | €521,358 | +€346,667 | +198.4% |
| Land and buildings | 22 | €26,883 | €346,230 | +€319,347 | +1187.9% |
| Plant, machinery and equipment | 23 | €27,224 | €25,143 | -€2,081 | -7.6% |
| Furniture and vehicles | 24 | €98,003 | €129,904 | +€31,901 | +32.6% |
| Other tangible fixed assets | 26 | €22,580 | €20,080 | -€2,500 | -11.1% |
| Current assets | 29/58 | €218,735 | €177,319 | -€41,416 | -18.9% |
| Amounts receivable within one year | 40/41 | €48,328 | €36,189 | -€12,139 | -25.1% |
| Trade receivables | 40 | €45,785 | €26,967 | -€18,818 | -41.1% |
| Other amounts receivable | 41 | €2,544 | €9,222 | +€6,679 | +262.6% |
| Current investments | 50/53 | €123,500 | €12,300 | -€111,200 | -90.0% |
| Cash at bank and in hand | 54/58 | €43,534 | €126,440 | +€82,906 | +190.4% |
| Deferred charges and accrued income | 490/1 | €3,373 | €2,389 | -€984 | -29.2% |
| Total equity and liabilities | 10/49 | €393,425 | €698,676 | +€305,251 | +77.6% |
| Equity | 10/15 | €344,674 | €405,932 | +€61,259 | +17.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €341,674 | €402,932 | +€61,259 | +17.9% |
| Distributable reserves | 133 | €341,674 | €402,932 | +€61,259 | +17.9% |
| Amounts payable | 17/49 | €48,752 | €292,744 | +€243,992 | +500.5% |
| Amounts payable within one year | 42/48 | €48,432 | €282,983 | +€234,551 | +484.3% |
| Trade debts | 44 | €1,710 | €3,189 | +€1,479 | +86.5% |
| Suppliers | 440/4 | €1,710 | €3,189 | +€1,479 | +86.5% |
| Taxes, remuneration and social security | 45 | €41,013 | €9,767 | -€31,246 | -76.2% |
| Taxes | 450/3 | €41,013 | €9,767 | -€31,246 | -76.2% |
| Other amounts payable | 47/48 | €5,709 | €270,027 | +€264,318 | +4629.6% |
| Accrued charges and deferred income | 492/3 | €320 | €9,761 | +€9,441 | +2954.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,552 | €53,994 | -€4,558 | -7.8% |
| Other operating charges | 640/8 | €679 | €856 | +€177 | +26.0% |
| Gross operating margin | 9900 | €154,589 | €142,532 | -€12,057 | -7.8% |
| Operating profit (loss) | 9901 | €95,358 | €87,683 | -€7,676 | -8.0% |
| Financial income | 75/76B | €20 | €2,728 | +€2,708 | +13519.0% |
| Recurring financial income | 75 | €20 | €2,728 | +€2,708 | +13519.0% |
| Financial charges | 65/66B | €44 | €12,271 | +€12,228 | +28090.4% |
| Recurring financial charges | 65 | €44 | €12,271 | +€12,228 | +28090.4% |
| Profit (loss) for the period before taxes | 9903 | €95,335 | €78,139 | -€17,195 | -18.0% |
| Income taxes | 67/77 | €19,957 | €16,881 | -€3,076 | -15.4% |
| Profit (loss) for the period | 9904 | €75,378 | €61,259 | -€14,120 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,378 | €61,259 | -€14,120 | -18.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.