KVL ITS: 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.
KVL ITS
Largest movements
- Cash +€41,546
up €41,546 (+889%), from €4,671 to €46,217
mainly Net result for the year (+€52,405) and Other debts (+€50,606)
- Receivables within one year -€3,632
down €3,632 (-8.1%), from €45,080 to €41,448
of which Trade receivables: -€3,573
- Tangible fixed assets -€1,945
down €1,945 (-41.0%), from €4,743 to €2,798
- Other debts +€50,606
up €50,606 (+2,750%), from €1,840 to €52,446
- Reserves -€14,601
down €14,601 (-88.7%), from €16,461 to €1,860
of which Distributable reserves: -€14,601
- Accrued charges and deferred income -€975
down €975 (-83.9%), from €1,162 to €187
- Gross operating margin +€47,046
up €47,046 (+177%), from €26,520 to €73,566
- Taxes +€11,835
up €11,835 (+202%), from €5,852 to €17,687
- Write-downs -€937
no longer reported in 2025 (was €937)
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 | €54,688 | €90,680 | +€35,992 | +65.8% |
| Fixed assets | 21/28 | €4,743 | €2,798 | -€1,945 | -41.0% |
| Tangible fixed assets | 22/27 | €4,743 | €2,798 | -€1,945 | -41.0% |
| Furniture and vehicles | 24 | €4,743 | €2,798 | -€1,945 | -41.0% |
| Current assets | 29/58 | €49,945 | €87,882 | +€37,937 | +76.0% |
| Amounts receivable within one year | 40/41 | €45,080 | €41,448 | -€3,632 | -8.1% |
| Trade receivables | 40 | €44,097 | €40,524 | -€3,573 | -8.1% |
| Other amounts receivable | 41 | €983 | €924 | -€59 | -6.0% |
| Cash at bank and in hand | 54/58 | €4,671 | €46,217 | +€41,546 | +889% |
| Deferred charges and accrued income | 490/1 | €194 | €217 | +€23 | +11.9% |
| Total equity and liabilities | 10/49 | €54,688 | €90,680 | +€35,992 | +65.8% |
| Equity | 10/15 | €35,061 | €20,865 | -€14,196 | -40.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,461 | €1,860 | -€14,601 | -88.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,601 | - | -€14,601 | |
| Profit (loss) carried forward | 14 | - | €405 | +€405 | |
| Amounts payable | 17/49 | €19,627 | €69,815 | +€50,188 | +256% |
| Amounts payable within one year | 42/48 | €18,465 | €69,628 | +€51,163 | +277% |
| Trade debts | 44 | €1,350 | €1,159 | -€191 | -14.1% |
| Suppliers | 440/4 | €1,350 | €1,159 | -€191 | -14.1% |
| Taxes, remuneration and social security | 45 | €15,275 | €16,023 | +€748 | +4.9% |
| Taxes | 450/3 | €14,863 | €16,023 | +€1,160 | +7.8% |
| Remuneration and social security | 454/9 | €412 | - | -€412 | |
| Other amounts payable | 47/48 | €1,840 | €52,446 | +€50,606 | +2,750% |
| Accrued charges and deferred income | 492/3 | €1,162 | €187 | -€975 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,820 | €2,715 | -€105 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €937 | - | -€937 | |
| Other operating charges | 640/8 | €524 | €710 | +€186 | +35.5% |
| Non-recurring operating charges | 66A | €1,627 | - | -€1,627 | |
| Gross operating margin | 9900 | €26,520 | €73,566 | +€47,046 | +177% |
| Operating profit (loss) | 9901 | €20,612 | €70,141 | +€49,529 | +240% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €159 | €56 | -€103 | -64.8% |
| Recurring financial charges | 65 | €159 | €56 | -€103 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €20,453 | €70,092 | +€49,639 | +243% |
| Income taxes | 67/77 | €5,852 | €17,687 | +€11,835 | +202% |
| Profit (loss) for the period | 9904 | €14,601 | €52,405 | +€37,804 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €14,601 | €52,405 | +€37,804 | +259% |
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 19 October 2026 via checked.be.